NEW YORK, NY, Sep 07, 2011 (MARKETWIRE via COMTEX) -- The threat of stricter government regulations has put pressure on Chinese Internet stocks. China is sensitive regarding the Internet and imposes significant restrictions on online search and other social-networking activities. While Chinese Internet firms must walk a fine line to avoid shut down, those that succeed are rewarded with less competition. The Bedford Report examines the outlook for companies in China's Internet Sector and provides stock research on Renren, Inc. /quotes/zigman/5001751/quotes/nls/renn RENN +1.15% and Youku.com, Inc. /quotes/zigman/2786183/quotes/nls/yoku YOKU -0.05% . Access to the full company reports can be found at:
www.bedfordreport.com/RENN www.bedfordreport.com/YOKU
According to state-run newspaper China Daily Chinese regulators recently shut down 6,600 websites in their efforts to clamp down on "illegal public relations deals" that employ similar tactics for commercial gain. Analysts at Turner Investment Partners said China shut down 1.3 million Web sites.
The ruling party scribes called for a more cautious approach to adopting social networking Internet technologies in the future, by putting administration and regulation in place before their use becomes widespread in China.
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Renren operates the leading real name social networking Internet platform in China. It enables users to connect and communicate with each other, share information and user generated content, play online games, listen to music, shop for deals and enjoy a wide range of other features and services. Last month Renren and MSN China, who runs the online business for Microsoft in China, announced a strategic cooperation between the two companies to offer users a seamless integration of their respective social networking services platforms.
Youku.com is China's leading Internet television company. The company's Internet television platform enables users to search, view and share high-quality video content quickly and easily across multiple devices. The company recently launched iKu Mini, a free desktop client together with the matching mobile client application enabling users to watch high-quality professional content across multiple Internet-enabled devices -- from desktops to Android mobile phones and HTPC-connected televisions.
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