Legendary creator of the online auction eBay announced it will close its Chinese site and enter into a partnership with Tom Online of Hong Kong. Together the two companies will create a new online auction site for the Chinese market next year. Although the company is known all over the world for its service, the move came as no surprise to those following its progress in China. eBay was consistently beat by Alibaba’s Taobao site, which controls 57% of the Chinese online auction market.
Source: http://www.globalservicesadvisory.com
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