Yahoo will establish a joint venture with SINA Corporation, a leading Chinese portal, to provide a new auctions-based ecommerce service for the China market. The new service will combine SINA's leading brand and valuable audience in China with Yahoo's global brand strength and proven ecommerce expertise from its top-ranked auctions services in Japan, Taiwan, and Hong Kong. The auction site will provide both a fixed-price and auction model for the sale of consumer goods, and also offer a range of services to facilitate transactions. The service will be co-branded, and is expected to be available by mid-year 2004. Terms of the deal were not disclosed. The announcement cited a CNNIC report that there were 78 million Chinese Internet users as of December 2003.

Yahoo also released 4th quarter and full year 2003 financial results. The company said its fourth quarter performance completes a "year of phenomenal growth" and represents the most successful quarter in the history of Yahoo.

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