eBay has launched a site in Hong Kong offering online trading in Chinese, with prices listed in Hong Kong dollars. "The launch of eBay Hong Kong brings our successful online marketplace to one of the top Internet markets in Asia," said Gil Penchina, vice president, international at eBay.

eBay's announcement stated the new Web site will allow eBay to better serve its members in Hong Kong, providing greater opportunity for a local trading community to come together and grow. In addition, eBay will be able to use the site to directly promote its online marketplace to new audiences in that region.

eBay also operates local sites in Singapore and Taiwan. eBay recently failed to gain 100% of the shares of Internet Auction Co., Ltd. (IAC), a Korean online trading company, through a tender offer. The offer brought eBay's ownership of IAC from slightly more than 50% to 62%.

In July, eBay acquired all of the remaining outstanding common stock of China's EachNet.com. In 2002, eBay left the Japanese auction market to its rival, Yahoo.

http://www.ebay.com.hk