EBay, Alibaba Seek Partnership Rather Than Competition in China
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EBay Inc., the owner of e-commerce sites and the PayPal payment service, sees partnerships, even with former rival Alibaba Group Holding Ltd., as the best way to generate sales from China, rather than going it alone in the world’s biggest Internet market.
PayPal is being increasingly accepted by China partners looking to expand international sales, including sporting goods maker Li Ning Co., EBay Chief Executive Officer John Donahoe said in an interview in Hangzhou, China today. Alibaba announced in April it would accept PayPal on AliExpress, its product-sourcing marketplace.