Internet job search company Monster Worldwide (ticker: MNST) announced it had acquired a 40% stake in ChinaHR.com, one of China's leading online recruitment Web sites, with 3.2 million registered users and more than 280,000 corporate clients. Here is a quote from Monster:
"With the world's largest population and fastest growing economy, we believe that China's rapidly growing recruitment marketplace currently represents a great opportunity."
"We are confident that this is the right time for us to enter the Chinese marketplace and that ChinaHR.com's significant customer base, user base and strong brand awareness make them the ideal partner. Additionally, the company has established relationships with more than 100 Chinese colleges and universities and is consistently ranked as the top university student recruiting service."