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YAHOO! LAUNCHES CHINA-BASED WEB SITE

U.S. Internet company Yahoo! has launched a China-based Web site with a local partner, defying concern about a ban on foreign investment in China's Internet companies.

The site is a Chinese-language version of Yahoo!'s online Internet directory and shopping service, according to Yahoo! and its partner, Beijing Founder Electronics Co.

Yahoo! China debuted Friday -- two weeks after China's top telecommunications regulator said Beijing would enforce its ban on foreign investment in Chinese Internet companies.

China is reluctant to let outsiders into what it regards as a lucrative and politically sensitive industry. Yahoo! is used by about 80 million people.

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