Xinhua News Agency had announced that it will launch its own search venture. According to Xinhua, this will give Google its topmost and well-financed competitor following to the closure of a China-based web search engine.

Xinhua stated that it already has signed a framework agreement with China Mobile Ltd. on Thursday. Their agreement was for Xinhua to “set up a search and international media company. According to a source, the team is already on its “substantive operation stage.”

The target device is not yet given clarity to whether it will venture on Internet-based or . . . → Read More: Xinhua Announces Search Venture