He had also offered his services to Li Ka-shing, Hong Kong's most powerful tycoon.

ECONOMIST: Hong Kong

Hutheesing also notes that Li Ka-Shing is Hong Kong's largest provider of mobile phone service and one of its largest real estate developers.

FORBES: Tom Online: Chinese Wireless IPO On Sale

With Li Ka-shing, Hong Kong's richest and most powerful figure, backing the unimpressive portal, investors know that there will be plenty of money to burn and plenty of reasons to keep the company going (not losing face being one).

CNN: Playing the IPO Game