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Xinhua, China Mobile to establish internet search engine joint venture
2010/08/13

He Ping (R), Editor-in-Chief of Xinhua News Agency, meets with Wang Jianzhou, Chairman of China Mobile Communications Corp., in Beijing, capital of China, Aug. 12, 2010. Xinhua News Agency Thursday signed a framework agreement with China Mobile, the world's biggest mobile operator by subscribers, to set up a new internet search engine company. Called "Search Engine New Media International Communications Co.," the joint venture will focus on creating a leading search engine while actively developing other businesses, including the internet, print media and advertising. (Xinhua/Yang Guang)
 

BEIJING, Aug. 12 (Xinhua) -- Xinhua News Agency Thursday signed a framework agreement with China Mobile Communications Corp., the world's biggest mobile operator by subscribers, to establish an internet search engine company.

Called "Search Engine New Media International Communications Co.," the joint venture will focus on creating a leading search engine while actively developing other businesses, including the internet, print media and advertising, said Zhou Xisheng, vice president of Xinhua, at a signing ceremony.

"Search engines, which have powerful information integration abilities, play an increasingly important role in disseminating information and influencing public opinion," he said.

Zhou stressed the importance of setting up the joint venture, saying it was part of the country's broader efforts to safeguard its information security and push forward the robust, healthy and orderly development of China's new media industry.

He said the joint venture will make full use of advanced search technologies and recruit world-class talent to offer quality services to customers from home and abroad.

Sha Yuejia, vice president of China Mobile, said the internet search has great market potential but is also fiercely competitive.

"The joint venture will make use of the respective advantages of the two sides to provide attractive and competitive products and services to establish its core competitiveness," Sha said.

He added China Mobile has already successfully partnered with Xinhua to provide mobile news and audio-visual programs to customers.

The new venture will take the two sides cooperation to a new level.

 

Vice President of Xinhua News Agency Zhou Xisheng (2nd L, front) and Sha Yuejia (2nd R, front), Vice President of China Mobile Communications Corp., sign agreement in Beijing, capital of China, Aug. 12, 2010. Xinhua News Agency Thursday signed a framework agreement with China Mobile, the world's biggest mobile operator by subscribers, to set up a new internet search engine company. (Xinhua/Li Mingfang)

But the two sides did not reveal when the company will be founded and how much capital will be invested in it.

Vice Minister of the Ministry of Industry and Information Technology Yang Xueshan and Deputy Director of the State-owned Assets Supervision and Administration Commission Huang Danhua attended the signing ceremony along with Xinhua Editor-in-Chief He Ping and China Mobile Chairman Wang Jianzhou.

Founded in 1931, Xinhua is China's most authoritative news agency and an international provider of multimedia news and information services.

Vice President of Xinhua News Agency Zhou Xisheng (L, front) and Sha Yuejia (R, front), Vice President of China Mobile Communications Corp., exchange agreements in Beijing, capital of China, Aug. 12, 2010. Xinhua News Agency Thursday signed a framework agreement with China Mobile, the world's biggest mobile operator by subscribers, to set up a new internet search engine company. (Xinhua/Li Mingfang)

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