The company known as "China's eBay" will aim for expansion abroad in the long term, but first it wants more foreign products sold on its platform in China, it said Saturday.Taobao.com, a booming auction and retail site, does not have a concrete plan for the overseas market but will likely target regions with cultural similarities to China first, said Daniel Zhang, the company's chief financial officer, in an interview.Taobao, which charges no transaction or item posting fees, expects to break even this year, a spokeswoman said. The company reported a ballooning transaction volume of 80.9 billion yuan (US$11.8 billion) in the first half of the year but draws most of its revenue from advertising.
News source: yahoo
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