eBay (EBAY) is partnering with Chinese social networking/gaming giant Tencent (TCEHY.PK) to...

|About: eBay Inc. (EBAY)|By:, SA News Editor

eBay (EBAY) is partnering with Chinese social networking/gaming giant Tencent (TCEHY.PK) to launch a Chinese e-commerce JV, a source tells Marbridge Consulting; the JV will reportedly be run by Chinese fashion/luxury retailer and eBay partner Xiu.com. In spite of Alibaba's local e-commerce dominance, eBay is intent on growing its presence in the Middle Kingdom. CEO John Donahoe predicted last month PayPal will eventually get a Chinese license. The report comes shortly after Alibaba encroached on Tencent's turf by investing in Sina.