Breaking News, World News and Taiwan News.

Updated Saturday, October 6, 2007 0:00 am TWN, Reuters

Sponsors
▪	Save 75% for all hotels in Shanghai, Beijing and whole China. Lowest rates for Flights in China.
▪	Get the best deals for Guangzhou Hotels or choose from more than 10,000 hotels in 499 Chinese cities.
▪	Find great real time deals on China Flights. Book flights to China or China domestic flights 24/7.
▪	Buy china wholesale products from reliable chinese wholesalers on DHgate.com!

China’s Alibaba.com wins HK IPO approval

HONG KONG -- Alibaba.com, China’s largest e-commerce company, has won approval from the Hong Kong Stock Exchange for a long-anticipated IPO expected to be worth roughly US$1 billion, sources familiar with the deal said. Alibaba Group, which is partly owned by Yahoo Inc., plans to list its business-to-business operation, Alibaba.com, but does not plan to make its other units part of the initial public offering, one source said. Jack Ma founded Alibaba in his Hangzhou apartment in 1999 with 18 employees as an online business-to-business marketplace.

Subscribe to The China Post and save 25%. Click here