BizChina

Beijing's Haidian district court on Monday ruled that Baidu, China's most popular search engine, must compensate three writers for failing to protect their copyrights.

Baidu must pay a total of 145,000 yuan ($22,939) to the writers for failing to take action to prevent their works from being pirated, the court said.

Global Fortune 500 List Included 26 Chinese Firms in 2008, this year, Mainland China has 73 firms in the list overpass Japan (68 firms).

The country’s largest refiner Sinopec, led the Chinese group at 5th place, followed by China National Petroleum, ranking at 6th place, China State Grid at 7th and ICBC at 54th.

A fight is brewing between two of China's biggest property developers as they wrestle for control of a prime commercial real-estate site in the heart of Shanghai.

Beijing-based Soho China Ltd. and Shanghai's Fosun International Ltd. signaled they may square off in court as a property market downturn forces weaker players to sell off prime properties to raise cash—and in turn serves up bargains for those companies with deeper pockets.

Soho set the stage for the battle on Thursday when it announced it was paying four billion yuan, or US$632 million, to buy 50% of a Shanghai commercial project from two struggling developers who were partners with Soho rival Fosun on the project.

The State Council, or China's Cabinet, said Friday the government will accelerate the development of the next-generation Internet industry in the next few years and boost the sector's role in stimulating the economy.

China aims to put the Internet Protocol version 6 (IPv6)-based network into small-scale commercial pilot use and form a mature business model by the end of 2013, according to a statement released after an executive meeting of the State Council presided over by Premier Wen Jiabao.

From 2014 to 2015, the country will deploy and commercialize the IPv6-based network on a large scale and achieve the interconnection between IPv4 and IPv6-based operations, the statement said.

During that period, a group of international competitive research institutions and enterprises in the next-generation Internet sector will be established, it said.