Chinese Internet shopping platform Taobao.com has confirmed that the company has set up a subsidiary in Beijing, and Wu Yongming, former general manager for Alimama.com, will be general manager for this new branch.

Sino Fibre Communications, a broadband and value added Internet services provider in China, announced that it has entered into a memorandum of understanding with P2P Cash Inc. to explore the business opportunity for integrating the P2P Cash mobile commerce features into an advanced international barter trading platform.

China-based webshops will be able to sell goods on eBay directly to export customers using services provided by MyStarU.com subsidiary, Panyu M&M Import Export Company.

According to Baidu, its first batch of 10,000 contracted customers of its e-commerce platform were able to enjoy the C2C services from 8pm, September 25, 2008, marking the opening of Baidu's C2C platform after one year's preparation.

Jack Ma, chairman of the board of Alibaba Group, announced at the fifth anniversary of the founding Taobao.com that the group will invest another CNY2 billion in Taobao.com.

Sellers of special goods such as food and healthcare products must present relevant certificates before they can sell their goods on Internet auction website Taobao.com.

To better regulate online transactions in China, the Ministry of Commerce has drafted and is soliciting comments from the public on two new rules: the E-commerce Pattern Regulation and Online Shopping Service Regulation.