Lee Greif: China renews Google license, ending standoff

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chart_google.top.gifGoogle's stock price has dropped about 18% since March 22, when it stopped censoring search services on google.cn, its Chinese search site.

By Aaron Smith, CNNMoney.com staff writer


NEW YORK (CNNMoney.com) -- Google said Friday that it has renewed its license with the Chinese government to continue operating in that country, ending a standoff over censorship.

"We are very pleased that the government has renewed our [Internet content provider] license and we look forward to continuing to provide Web search and local products to our users in China," said Google on its blog.

Google did not make any concessions regarding censorship, Tokyo-based Google spokeswoman Jessica Powell said.

"I don't think we gave anything up," she said. "We asked the government to renew our license to make some products that don't require any censorship. We are going to continue to offer uncensored Web search with google.com.hk."

Google's (GOOGFortune 500) stock jumped 4% in pre-market trading, while shares of Baidu (BIDU), the lead search engine in China, fell more than 7%.

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This page contains a single entry by Lee Greif published on July 12, 2010 4:10 PM.

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