In response to rumors that eBay (EBAY) may choose to withdraw from the Chinese market due to the fierce market competition, Meg Whitman, CEO and president of eBay says that her company has no plans of leaving China.
Following the release of the company's third quarter financials, Whitman says the company is committed to long-term development in China despite facing big challenges from its Chinese competitors, like Alibaba's Taobao.com.
Whitman says that eBay's strategy for China is to work more intensely to integrate its online auction site with PayPal and Skype.
eBay had been the largest online auction site in China after its acquisition of Eachnet. However, according to the data released by CNNIC, it has been left far behind as Taobao.com already accounts for 67% of the market share in China.