Hong Kong - The Chinese unit of US online auction service eBay Inc said it has launched an online store for China Paradise Electronics Retail Ltd (503.HK).

In statement, eBay said the online store, called Yongle, will boost the competitiveness of both companies.

The two firms have already run a trial version of the site, the statement said, adding that it had seen ’sound sales’ without giving figures.

According to figures from Analysys International, eBay held a 31.46 pct market share in terms of transaction value last year. It lags behind Taobao.com, which held a 57.74 pct share in 2005.

Posted: 03|30|06 at 11:00 am. Filed under: Auction News.