Baidu-Citic joint venture
China's Baidu Enters Online Payments Business with Citic Bank
| Victoria Stanley | | Nov 21, 2015 10:14 AM EST |
Baidu Inc., China's largest search engine, has teamed up with Citic Bank Corp., a state-owned corporation, to start an online bank. The deal targets the country's $90 billion mobile payments business, according to local reports on Tuesday.
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