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Japan's Rakuten opens e-shopping mall in China with Baidu [news.yahoo.com]
Japan's top Internet retailer Rakuten and its Chinese partner Baidu on Tuesday launched a new online shopping mall in China, despite heightened bilateral tensions between the two countries.
The virtual marketplace, called Lekutian, will offer goods such as apparel, fashion accessories, furniture, home electronics and appliances, digital equipment and cosmetics, the firms said in a joint statement.
The e-mall is operated by their joint venture, owned 51 percent by Rakuten and 49 percent by Baidu, while the two will jointly invest 50 million dollars over three years in the business.