, which acquired the China business of Yahoo in October, re-launched Yahoo China with a new home page and business model focused on search on Wednesday.

Yahoo China is second in the Chinese market with 32 percent share, after Baidu, with 37 percent. It's ahead of Google, at 19 percent, according to iResearch.

Among's properties are Alibaba China, the country's largest online business-to-business marketplace, TaoBao, a consumer-to-consumer trading site and AliPay, offering online payment services. Yahoo owns more than a 40 percent equity interest in

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