According to an insider from the Chinese Internet application technology and service provider Zhongsou.com, the company has signed a cooperative agreement with Apabi.cn, a subsidiary of the Founder Group, to set up a joint venture.

Owned by Founder Group, Apabi.cn is a professional digital publication technology provider, while Zhongsou.com, originally a Chinese local search engine, later shifted to a personalized open platform. This is the first time for the two companies to achieve a partnership.

The new joint venture will reportedly combine Zhongsou.com's Internet technology advantages with Apabi.cn's digital publication technologies to establish a professional Internet book portal that will provide book searching, reading, sharing, personal publication and shopping services to users.

Local media reports that the news has been confirmed by Zhongsou.com's CEO Chen Pei, but no more comment is available.