Meanwhile, Citigroup analyst Mark Mahaney issued a report after a recent visit to China and South Korea stating, "the Asia challenge to U.S. Internet companies is a material long-term issue, especially for eBay and Google." He believes out of eBay, Google, and Yahoo, the latter is the best competitively positioned in Asia. He stated eBay "may well need to develop a strategic relationship in China along the lines of the Yahoo!-Alibaba partnership."
Last year, CEO Meg Whitman said China was its biggest long-term opportunity in terms of local markets, and she was quoted saying, "Whoever wins China, will win the world." eBay invested $100 million in China in 2005.
Update, 9/25/06: Paypal China general manager Jeff Liao will become eBay Eachnet's new CEO on September 21, according to Bear Stearns analyst Bob Peck.
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