Baidu tops Tencent as China's No.1
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Baidu has overtaken Tencent to become China's largest Internet company in terms of stock market valuation, according to a report on Sina.com. At close of business on NASDAQ yesterday Baidu was valued at US$46.072 billion, surpassing Hong Kong-listed Tencent's valuation of US$44.5 billion. Baidu's market value has grown almost 53 times from US$870 million at its IPO in 2005.
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