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Baidu promotes fake drug sites: Chinese TV station
China's main state-run television station accused the country's top Internet search engine Baidu Inc of directing users to websites that sell counterfeit drugs, the People's Daily reported on Monday.
CCTV reported on Sunday that Baidu and other search engines had profited from promoting three websites offering counterfeit drugs that duped more than 3,000 people in China, said the newspaper, the mouthpiece of the ruling Communist Party.
Baidu declined comment on the accusation. Its shares trading in the U.S. slipped about 4 percent to $70.50 in early Nasdaq trading.
The report comes two days before Baidu is expected to issue its quarterly results as it capitalizes on its new advertising system and gains from Google Inc's spat with China. [ID:nTOE66I00P] In the second quarter, Baidu had a 70.8 percent share of China's search market, according to iResearch data.
Source:Digital Media Online.
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