eBay retreated from the Chinese market

The Wall Street Journal on December 18 said that eBay will stop the activities of the world's largest online auction site in China and will instead link to another site with similar functionality at here.

The eBay Chinese page will be replaced by the Tom online site (based in Beijing) with 49% of the shares belonging to eBay, the rest is from Tome online. Both companies also announced plans to invest $ 60 million in future operations, including eBay's $ 40 million investment.

Currently, eBay spokesman has not confirmed the above information. However, if the deal becomes a reality, it will be eBay's biggest retreat since it announced plans to conquer major markets around the world.

In addition, it is important to know that although China is the second largest Internet market in the world, only 3% of all auctioned items on eBay originated from here in the past.

It is expected that next year, Tom Online's new website will be put into operation, and eBay is currently undertaking online auction sessions in China.