Wanda, Baidu, Tencent To Set Up E-commerce Company

SHENZHEN, CHINA - AUGUST 29: (CHINA OUT) Wang Jianlin, Chairman of Dalian Wanda Group, attends a press conference on August 29, 2014 in Shenzhen, China. Wanda, Baidu and Tencent will invest 20 billion yuan (3.28 billion U.S. dollars) to set up an e-commerce joint venture in five years. (Photo by Visual China Group via Getty Images/Visual China Group via Getty Images)