Googles Looks East, Raises Stake In China

PC World informs that Google Increases Stake in China and is looking forward to become the No 1 serach giant in China. Besides, Google Inc is planning on acquiring many Chinese comapnies while also investing in some.

Kai-Fu Lee, the President of Google Inc China said, "Over the next year, Google will acquire one or two companies in China, and invest in four to five companies."

Eric Schmidt, Google CEO said, "It's a very good start and although we don't think that this will result in an immediate huge success, we think that the tenacity of Google … will bring significant victories in China over the next few years."

“Yet unknown are the names of the companies that Google would be buying and investing in. However, PC Worlds informs that "In January, Google took an unspecified stake in Xunlei Networking Technology Co. Ltd., a popular Chinese peer-to-peer file sharing Web site. The company also has a mobile search deal with China Mobile Communications Corp., the country's largest mobile operator, and recently struck a search and advertising partnership with Sina Corp., which runs China's most popular Web portal."

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