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The good news is  Yahoo China and (口碑网) are set to receive RMB 300 millions worth of additional fundings from their parent company,  Alibaba group, to develop their local search engine, according to the Sina Tech.

The news was confirmed by Yahoo China Vice President Shen Jianming yesterday. Yet, a dramatic turn happened as Miss Shen Jianming told the local media that she has resigned for personal reasons and depart from the company officially. Aliuser got the news from Beijing-based China

Yahoo China and (口碑网) joined force together  again in order to develop an organizational and service-related website covering the area of Shanghai, Beijing and Guangzhou. Services on the site will include food, real estate, community services, leisure and culture, health care services, and education.

Miss Shen said her departure was attributed to the change of the company’s business approach. She was assigned to manage in Hangzhou, which was far away from her home town, Beijing.  She submitted her resignation a month ago after a few thoughts.

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 Jack Ma, Chairman and Non-Executive Director of told the press at the 2nd APEC Meeting in Hangzhou that Alibaba group was ready to buy back  a 39% stake owned by Yahoo Inc.

Mr Ma said the group’s CFO, Joe Tsai, has devoted most of his time to evaluate the current situation, but he declined to confirm the buyback deal and further details.

Yahoo Inc. acquired Alibaba a near 40% stake in 2005 at a cost of US1 billion and her stake in Yahoo China.

The news coverage was found in Sina Tech News section.



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Please send your donations for Sichuan Earthquake Disaster direct to the Red Cross Society
or see more details in our previous post.

Yahoo China disclosed a business plan with (口碑网) with a view to fully developing a consumer-based search service.

Controlled by Alibaba group, both Yahoo China and are targeting for consumer to consumer market. The plan will direct its effort to bring convergence between these two portals, improving its productivity and efficiency in the areas of eCommerce, community and communications. was initialized in Hangzhou in 2004. Over the past three years, it becomes one of the high flyers to set foothold in most of China provinces. Its business extends from classified listings, community to forum. Koubei, means “words of mouth” in Chinese.

The news update came this morning did not unveil a full detail plan but it stresses the importance of building a strong search capability. Jack Ma, Chairman and Non-Executive Director of, said the move would create a top-notched life style platform for consumers in China.


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Web sites in Black

Today begins three days of national mourning for earthquake victims. So far, there are more than 300,00 victims and the search for survivors still goes on.

Alibaba group of companies – Alibaba ChinaYahoo ChinaTaobao, Alisoft, Alimama, along with other China major websites such as Sina and eBay China etc, turn their homepages to black to pay respect to the victims.

Hong Kong will lower flags at half staff from today. The official death toll stands at nearly 32,500 from the original quake – which was revised upwards to 8.0 on the Richter scale – that rattled Sichuan province.

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