eBay Pushing Into China With Local Partner

Online retailer and auction site eBay has decided to make a renewed foray into China, says a report by Financial Times. The retailer has decided to team with a Chinese partner in order to keep costs at a minimum and avoid domestic competition in the crowded Chinese market. The report says that eBay is signing a deal with xiu.com, a local retailer of luxury goods. eBay will import high-end luxury items to China, which is already a booming market for Western luxury goods. It's rumored that the partnership will be announced somewhere around Nov. 12.