Recent acquisitions for London-based Diageo have included ShuiJingFang, a maker of baijiu, a Chinese white spirit, as well as Mey Icki, in Turkey.

CNN: Diageo: Europe must be more competitive

Among the P2P video firms, PPStream and PPLive seem equally successful, and in classic Chinese competitive spirit PPLive is suing PPStream, accusing it of removing the PPLive software during a new PPStream upgrade install.

FORBES: The Launch Of Baidu's Hulu Clone

Notwithstanding the fact that the Chinese recognised a kindred spirit in the media mogul his opaque, family-run News Corporation reminded them of one of their own state firms Mr Murdoch has found China tough going.

ECONOMIST: Doing business in China

Many Chinese people admired Chavez's fighting spirit in standing up to the US. Citing Chavez's record in helping improve the daily lives of Venezuelans, some have admonished their own government to do more.

BBC: Global perceptions of Hugo Chavez

Imported spirits make up about 2% of the Chinese alcohol market, with baijiu a white spirit distilled from sorghum, wheat or rice representing half of the country's alcohol sales, according to Euromonitor, a data provider.

WSJ: Diageo, Remy Flag Asia Woes