Dangdang Hopes For IPO Bang Amid Wave Of New China Issues
Books may be going digital in the U.S., but in China the old dead-tree versions are still selling fast. According to industry number-cruncher OpenBook, Chinese book sales totaled $4.6 billion last year, up from $3.5 billion in 2005. But the number of Internet users in China is also growing, and that's where E-Commerce China Dangdang comes in. The company has positioned itself as the Chinese version of Amazon.com (AMZN). First it became the market
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