Taobao, the Chinese auction site announced that the total value of transactions of the site exceeded 16.9 billion RMB ($2.2 billion), exceeding Walmart China’s 2006 revenue by 70%. The website was established by Chinese online B2B company Alibaba in July 2003. As of March 2007, the site has more than 6 million daily visitors. Taobao, along with its online payment platform Alipay are currently free to use. The company has not announced any plans to start charging for its services.
By March 9th 2007, there are 128,000 IPTV users in Shanghai and more than 20,000 users have registered for the service. China Telecom launched its IPTV service in Shanghai in September 2006 and the company has been improving the network infrastructure and Internet bandwidth to promote IPTV. By February 2007 there are 58 live channels and more than 5,000 hours of video on demand available on IPTV in Shanghai.