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Strategies & Market Trends : Greater China Stocks

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From: Julius Wong	10/22/2010 7:44:33 AM
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Baidu search engine's profits more than double Baidu now commands more than 70% of China's internet search engine market Quarterly profits at Chinese internet search engine Baidu have more than doubled as it benefits from Google's troubles in the country. Net profit between July and September came in at 1.1bn yuan ($158m; £100m) compared with 492m yuan a year earlier. Revenue for the quarter was 2.3bn yuan, slightly above analysts' expectations. Earlier this year, Google threatened to pull out of China in a row over censorship. "Strong execution of our initiatives to expand our customer base and enhance customer service drove another quarter of strong results," said Baidu's chief executive Robin Li. bbc.co.uk

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