Search engine giant Google has announced that it will terminate the agency qualifications of seven Chinese advertising agents and the termination agreement will become effective from October 27, 2010, according to reports in foreign media.
Google withdrew from the Chinese mainland market at the beginning of 2010. After that, the company announced the decision to terminate its contracts with seven Chinese advertising agents without giving any reason at the end of September 2010.
Google's spokesperson told Reuters that the company sent notices to these agents one month in advance on September 27, and the termination will be effective from October 27, 2010.
A report published by Credit Suisse, a leading global financial services company headquartered in Zurich, on October 17 shows that these seven Chinese agents contributed CNY1.5 billion to Google's operating revenue in 2009, and it accounted for about 40% of the total operating revenue of Google China.