Yahoo China to tap business market

Yahoo China will transform into a business-oriented search engine, the company's head announced Monday, AP reported. Jack Ma, CEO of e-commerce group Alibaba, which runs Yahoo's China operations, said the portal had to change or it would be crowded out by domestic rivals. Ma, who admitted that Yahoo China was losing money but didn't give any figures, said specialization would allow the portal to move away from the likes of Baidu, the market leader for search, and Sina. He also pointed out that company research showed Yahoo China attracted affluent, business-oriented customers, while Baidu users tend to be students. "We don't want those not interested in business or making money. They can go to Baidu," Ma said. "Our main focus is the high-end." He didn't say when the changes would take place but indicated that a significant shift in both technology and institutional culture was required.