Newcomers Rush into China's C2C Market
"While eBay and Alibaba argue about who's No. 1 in China's online auction sector, newcomers such as online chat provider Tencent and cyber retailer dangdang.com have debuted their own consumer-to-consumer services to tap a market valued at 6.7 billion yuan (US$832.9 million).
Tencent launched its C2C service in September and now lists 1.1 million products online from 70,000 sellers. Its registered members have reached 2.13 million, one-fifth of Alibaba's taobao.com and one-seventh of eBay's, according to Tencent, whose QQ chat service has attracted more than 100 million users."
"Meanwhile, dangdang.com said recently in Shanghai it will invest 400 million yuan to expand its C2C business scope and will kick off the service in January. The company is now known for its competitively priced books, audio and video CDs and has 15.6 million registered users."
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