China’s main state broadcaster has attacked Baidu, the country’s largest online search company, in a move likely to fuel concern among foreign investors about the risks of operating in the Chinese internet industry.
CCTV, which is launching its own internet search engine, broadcast investigative reports and published blog posts and commentary criticising Baidu as a “monopolist”, which, it alleged, abused its power and failed to manage content responsibly.
Baidu’s shares fell 6.7 per cent on Thursday in New York, adding up to a slide of almost 15 per cent since the attacks began. Source: Financial Times
