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China's Baidu enters strategic partnership with Paypal to tap Chinese tourists

People sit in front of the company logo of Baidu at its headquarters in Beijing December 17, 2014. REUTERS/Kim Kyung-Hoon

BEIJING (Reuters) - Baidu Inc said on Friday that it has entered a strategic agreement with PayPal Holdings Inc to tap overseas merchants as Chinese tech companies ramp up the fight for overseas payment partnerships.

Under the agreement, Baidu's payment platform, Baidu Wallet, will be accepted by roughly 17 million PayPal merchants globally, the Chinese firm said in a statement on Thursday.

"Partnering with PayPal on technology and product innovation will provide Baidu users with the ultimate...


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