SOURCE: The Bedford Report

The Bedford Report

February 23, 2011 08:46 ET

China's Search Market Gets Crowded

The Bedford Report Provides Analyst Research on Baidu and Google

NEW YORK, NY--(Marketwire - February 23, 2011) - This week Beijing launched its own Internet search site, giving China its own edited view of the Web. The site, "panguso.com" is jointly operated by Xinhua News Agency and China Mobile and gives the ruling Communist Party a new tool to control what China's citizens see online. According to the China Internet Network Information Center, China has the world's biggest population of Internet users with 457 million. The Bedford Report examines the outlook for companies in the Internet Information Providers Industry and provides research reports on Baidu, Inc. (NASDAQ: BIDU) and Google, Inc. (NASDAQ: GOOG). Access to the full company reports can be found at:

www.bedfordreport.com/2011-02-BIDU

www.bedfordreport.com/2011-02-GOOG

ZenithOptimedia -- a major advertising agency -- said developing markets will account for nearly 36 percent of all advertising spending by 2013, up from 31.5 percent this year. ZenithOptimedia added it expects China overtaking Germany as the world's third-largest ad market behind the United States and Japan.

The Bedford Report releases regular market updates on the Internet Information Providers Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.

China's search market grew 67 percent in the fourth quarter to $486.8 million, with Baidu holding a dominant 73 percent of the market by revenue compared with Google's 24 percent, according to data from iResearch.

The launch of panugso.com caused a noticeable 5 percent drop in shares on Baidu yesterday as investors worried new competition may cut into Baidu's market share. According to an Associated Press report, Panguso may filter its content even more strictly than Baidu. For example, a search on Panguso for the jailed activist and Nobel Peace Laureate Liu Xiaobo returns no results.

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