The media industry, with its lumbering state giants and fragmented private sector, has created another opening: for online-video sites, such as Youku.

ECONOMIST: Chinese internet companies

Last year, 61 venture-backed companies went public in the U.S. China claimed 22 of the total, with such fliers as Youku, HiSoft.

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Other Chinese spin-off brands of popular American websites have faced success from going public in America, such as Youtube-esque Youku (NYSE: YOKU), shopping site Dangdang (NYSE: DANG), and digital search engine Baidu (NASDAQ: BIDU).

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Competitors include China-based video sites Youku.com and 56.com, as well as other China Internet companies such as Baidu, Tencent, Sina and Shanda, which all have video sites.

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