<SEC-DOCUMENT>0000950123-11-030187.txt : 20110329
<SEC-HEADER>0000950123-11-030187.hdr.sgml : 20110329
<ACCEPTANCE-DATETIME>20110329161331
ACCESSION NUMBER:		0000950123-11-030187
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		53
CONFORMED PERIOD OF REPORT:	20101231
FILED AS OF DATE:		20110329
DATE AS OF CHANGE:		20110329

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Baidu, Inc.
		CENTRAL INDEX KEY:			0001329099
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51469
		FILM NUMBER:		11718873

	BUSINESS ADDRESS:	
		STREET 1:		BAIDU CAMPUS, NO. 10 SHANGDI 10TH STREET
		STREET 2:		HAIDIAN DISTRICT
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100085
		BUSINESS PHONE:		(86-10) 5992 8888

	MAIL ADDRESS:	
		STREET 1:		BAIDU CAMPUS, NO. 10 SHANGDI 10TH STREET
		STREET 2:		HAIDIAN DISTRICT
		CITY:			BEIJING
		STATE:			F4
		ZIP:			100085

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Baidu.com, Inc.
		DATE OF NAME CHANGE:	20050602
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F
<SEQUENCE>1
<FILENAME>h04360de20vf.htm
<DESCRIPTION>20-F
<TEXT>
<HTML>
<HEAD>
<TITLE>e20vf</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
</DIV><!-- END PAGE WIDTH -->
<DIV style="width: 94%; margin-left: 3%"><!-- BEGIN PAGE WIDTH -->

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #000000"></CENTER>

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 14pt">UNITED STATES SECURITIES AND
    EXCHANGE COMMISSION<BR>
    </FONT><FONT style="font-size: 12pt">Washington,&#160;D.C.
    20549<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 16pt"><FONT style="white-space: nowrap">Form&#160;20-F</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 15%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 1pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="8%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="91%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    (Mark One)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B><FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF
    THE SECURITIES EXCHANGE ACT OF 1934</B>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>or</B>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B><FONT style="font-family: Wingdings; font-variant: normal">&#254;</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B><FONT style="font-size: 7pt"><!-- XBRL,DC -->For the fiscal
    year ended December 31,
    2010.</FONT></B><FONT style="font-size: 7pt"><!-- /XBRL,DC -->
    </FONT>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>or</B>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B><FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B><FONT style="font-size: 7pt">For the transition period
    from&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;to</FONT></B>
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>or</B>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B><FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B><FONT style="font-size: 7pt">Date of event requiring this
    shell company report</FONT></B><FONT style="font-size: 7pt">
    </FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">Commission file number:
    <FONT style="white-space: nowrap">000-51469</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 18pt">Baidu, Inc.</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 7pt">(Exact name of Registrant as
    specified in its charter)</FONT></I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>N/A</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 7pt">(Translation of
    Registrant&#146;s name into English)</FONT></I>
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Cayman Islands</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 7pt">(Jurisdiction of incorporation
    or organization)</FONT></I>
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">Baidu Campus</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">No.&#160;10 Shangdi 10th
    Street</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">Haidian District, Beijing
    100085</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">The People&#146;s Republic of
    China</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 7pt">(Address of principal executive
    offices)</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">Jennifer Li, Chief Financial
    Officer</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">Telephone: +(86
    <FONT style="white-space: nowrap">10)&#160;5992-8888</FONT></FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">Email: ir@baidu.com</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">Facsimile: +(86
    <FONT style="white-space: nowrap">10)&#160;5992-0000</FONT></FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">Baidu Campus</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">No.&#160;10 Shangdi 10th
    Street,</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">Haidian District, Beijing
    100085</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">The People&#146;s Republic of
    China</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 7pt">(Name, Telephone, Email and/or
    Facsimile number and Address of Company Contact
    Person)</FONT></I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 7pt">Securities registered or to be
    registered pursuant to Section&#160;12(b) of the Act:</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="49%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 6pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Title of Each Class</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Name of Each Exchange on Which Registered</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="center" valign="top">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    <B>Class&#160;A ordinary shares, par value US$0.00005<BR>
    per share</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="top">
    <B>The NASDAQ Stock Market LLC*<BR>
    (The NASDAQ Global Select Market)</B>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">Securities registered or to be
    registered pursuant to Section&#160;12(g) of the Act:</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">None</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 8pt">(Title of Class)</FONT></I>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">Securities for which there is a
    reporting obligation pursuant to Section&#160;15(d) of the
    Act:</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><FONT style="font-size: 8pt">None</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="font-size: 8pt">(Title of Class)</FONT></I>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Indicate the number of outstanding shares of each of the
    Issuer&#146;s classes of capital or common stock as of the close
    of the period covered by the annual report.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>27,045,340&#160;Class&#160;A ordinary shares and 7,804,332
    Class&#160;B ordinary shares, par value US$0.00005 per share, as
    of December&#160;31, 2010.</B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Indicate by check mark if the registrant is a well-known
    seasoned issuer, as defined in Rule&#160;405 of the Securities
    Act.&#160;&#160;Yes&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#254;</FONT>&#160;&#160;&#160;&#160;&#160;No&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If this report is an annual or transition report, indicate by
    check mark if the registrant is not required to file reports
    pursuant to Section&#160;13 or 15(d) of the Securities Exchange
    Act of
    1934.&#160;&#160;Yes&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>&#160;&#160;&#160;&#160;&#160;No&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#254;
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Indicate by check mark whether the registrant: (1)&#160;has
    filed all reports required to be filed by Section&#160;13 or
    15(d) of the Securities Exchange Act of 1934 during the
    preceding 12&#160;months (or for such shorter period that the
    registrant was required to file such reports), and (2)&#160;has
    been subject to such filing requirements for the past
    90&#160;days.&#160;&#160;Yes&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#254;</FONT>&#160;&#160;&#160;&#160;&#160;No&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Indicate by check mark whether the registrant has submitted
    electronically and posted on its corporate Web site, if any,
    every Interactive Data File required to be submitted and posted
    pursuant to Rule&#160;405 of
    <FONT style="white-space: nowrap">Regulation&#160;S-T</FONT>
    (&#167;&#160;232.405 of this chapter) during the preceding
    12&#160;months (or for such shorter period that the registrant
    was required to submit and post such
    files).&#160;&#160;Yes&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#254;</FONT>&#160;&#160;&#160;&#160;&#160;No&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Indicate by check mark whether the registrant is a large
    accelerated filer, an accelerated filer, or a non-accelerated
    filer. See definition of &#147;accelerated filer and large
    accelerated filer&#148; in
    <FONT style="white-space: nowrap">Rule&#160;12b-2</FONT>
    of the Exchange Act. (Check one):
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="33%"></TD>
    <TD width="33%"></TD>
    <TD width="33%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">    <FONT style="font-size: 7pt; font-family: 'Times New Roman', Times">Large
    accelerated
    filer&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#254;</FONT>
    </FONT></TD>
    <TD nowrap align="center">    <FONT style="font-size: 7pt; font-family: 'Times New Roman', Times">
    Accelerated
    filer&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>
    </FONT></TD>
    <TD nowrap align="right">    <FONT style="font-size: 7pt; font-family: 'Times New Roman', Times">
    Non-accelerated
    filer&#160;&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>
    </FONT></TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Indicate by check mark which basis of accounting the registrant
    has used to prepare the financial statements included in this
    filing:
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    U.S.&#160;GAAP&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#254;
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    International Financial Reporting Standards as issued by the
    International Accounting
    Standards&#160;&#160;Board&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>&#160;&#160;&#160;&#160;&#160;Other&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If &#147;Other&#148; has been checked in response to the
    previous question, indicate by check mark which financial
    statement item the registrant has elected to follow.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Item&#160;17&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Item&#160;18&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If this is an annual report, indicate by check mark whether the
    registrant is a shell company (as defined in
    <FONT style="white-space: nowrap">Rule&#160;12b-2</FONT>
    of the Exchange
    Act).&#160;&#160;Yes&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>&#160;&#160;&#160;&#160;&#160;No&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#254;
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS
    DURING THE PAST FIVE YEARS)
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 2%; font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Indicate by check mark whether the registrant has filed all
    documents and reports required to be filed by Sections&#160;12,
    13 or 15(d) of the Securities Exchange Act of 1934 subsequent to
    the distribution of securities under a plan confirmed by a
    court.&#160;&#160;Yes&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>&#160;&#160;&#160;&#160;&#160;No&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 6pt">*&#160;
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 6pt">Not for trading, but only in
    connection with the listing on The NASDAQ Global Select Market
    of American depositary shares (&#147;ADSs&#148;). Currently, 10
    ADSs represent one Class&#160;A ordinary share.
    </FONT></TD>
</TR>

</TABLE>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER>

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 2pt solid #000000"></CENTER>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 94%; margin-left: 3%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
</DIV><!-- END PAGE WIDTH -->
<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">TABLE OF
    CONTENTS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left">
<!-- TOC -->
</DIV>

<DIV align="left">
<A name="H04360tocpage"></A>
</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="5%">&nbsp;</TD>	<!-- colindex=01 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="5%">&nbsp;</TD>	<!-- colindex=01 type=quadright -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="81%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=quadright -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD colspan="5" valign="top">
    <A HREF='#H04360101'>INTRODUCTION</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" valign="top">
    <A HREF='#H04360102'>FORWARD-LOOKING INFORMATION</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" valign="top">
    <A HREF='#H04360103'>PART&#160;I</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360104'>Item 1.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360104'>Identity of Directors, Senior Management and
    Advisers</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360105'>Item 2.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360105'>Offer Statistics and Expected Timetable</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360106'>Item 3.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <A HREF='#H04360106'>Key Information</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360107'>Item 4.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360107'>Information on the Company</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    33
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360108'>Item 4A.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360108'>Unresolved Staff Comments</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    61
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360109'>Item 5.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360109'>Operating and Financial Review and Prospects</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    61
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360110'>Item 6.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360110'>Directors, Senior Management and Employees</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    81
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360111'>Item 7.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360111'>Major Shareholders and Related Party
    Transactions</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    90
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360112'>Item 8</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <A HREF='#H04360112'>Financial Information</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    90
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360113'>Item 9.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360113'>The Offer and Listing</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    92
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360114'>Item 10.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <A HREF='#H04360114'>Additional Information</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    93
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360115'>Item 11.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360115'>Quantitative and Qualitative Disclosures About
    Market Risk</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    101
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360116'>Item 12.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360116'>Description of Securities Other than Equity
    Securities</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    101
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" valign="top">
    <A HREF='#H04360117'>PART&#160;II</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    103
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360118'>Item 13.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360118'>Defaults, Dividend Arrearages and
    Delinquencies</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    103
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360119'>Item 14.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360119'>Material Modifications to the Rights of Security
    Holders and Use of Proceeds</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    103
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360120'>Item 15.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360120'>Controls and Procedures</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    103
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360121'>Item 16A.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360121'>Audit Committee Financial Expert</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    103
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360122'>Item 16B.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360122'>Code of Ethics</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    104
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360123'>Item 16C.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360123'>Principal Accountant Fees and Services</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    104
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360124'>Item 16D.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360124'>Exemptions from the Listing Standards for Audit
    Committees</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    104
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360125'>Item 16E.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360125'>Purchases of Equity Securities by the Issuer and
    Affiliated Purchasers</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    104
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360126'>Item 16F.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <A HREF='#H04360126'>Change in Registrant&#146;s Certifying
    Accountant</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    104
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360127'>Item 16G.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <A HREF='#H04360127'>Corporate Governance</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    105
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" valign="top">
    <A HREF='#H04360128'>PART&#160;III</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    105
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360129'>Item 17.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <A HREF='#H04360129'>Financial Statements</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    105
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360130'>Item 18.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <A HREF='#H04360130'>Financial Statements</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    105
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <A HREF='#H04360131'>Item 19.</A>
</DIV>
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <A HREF='#H04360131'>Exhibits</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    105
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" valign="top">
    <A HREF='#H04360132'>SIGNATURES</A>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    110
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w25.htm">EX-4.25</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w26.htm">EX-4.26</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w27.htm">EX-4.27</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w28.htm">EX-4.28</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w29.htm">EX-4.29</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w30.htm">EX-4.30</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w31.htm">EX-4.31</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w32.htm">EX-4.32</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w33.htm">EX-4.33</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w34.htm">EX-4.34</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w35.htm">EX-4.35</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w36.htm">EX-4.36</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w37.htm">EX-4.37</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w38.htm">EX-4.38</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w39.htm">EX-4.39</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w40.htm">EX-4.40</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w41.htm">EX-4.41</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w42.htm">EX-4.42</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w43.htm">EX-4.43</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w44.htm">EX-4.44</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w45.htm">EX-4.45</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w46.htm">EX-4.46</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w47.htm">EX-4.47</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w48.htm">EX-4.48</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w49.htm">EX-4.49</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w50.htm">EX-4.50</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w51.htm">EX-4.51</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w52.htm">EX-4.52</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w53.htm">EX-4.53</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv4w54.htm">EX-4.54</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv8w1.htm">EX-8.1</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv12w1.htm">EX-12.1</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv12w2.htm">EX-12.2</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv13w1.htm">EX-13.1</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv13w2.htm">EX-13.2</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv15w1.htm">EX-15.1</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv15w2.htm">EX-15.2</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="h04360dexv15w3.htm">EX-15.3</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="bidu-20101231.xml">EX-101 INSTANCE DOCUMENT</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="bidu-20101231.xsd">EX-101 SCHEMA DOCUMENT</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="bidu-20101231_cal.xml">EX-101 CALCULATION LINKBASE DOCUMENT</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="bidu-20101231_lab.xml">EX-101 LABELS LINKBASE DOCUMENT</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="bidu-20101231_pre.xml">EX-101 PRESENTATION LINKBASE DOCUMENT</A></FONT></TD></TR>
<TR><TD colspan="9"><FONT size="2">&nbsp;<A HREF="bidu-20101231_def.xml">EX-101 DEFINITION LINKBASE DOCUMENT</A></FONT></TD></TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left">
<!-- /TOC -->
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    1
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='H04360101'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">INTRODUCTION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In this annual report, except where the context otherwise
    requires and for purposes of this annual report only:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#147;we,&#148; &#147;us,&#148; &#147;our company,&#148;
    &#147;our,&#148; and &#147;Baidu&#148; refer to Baidu, Inc., its
    subsidiaries, and, in the context of describing our operations
    and consolidated financial information, also include Beijing
    Baidu Netcom Science Technology Co., Ltd., Beijing Perusal
    Technology Co., Ltd. , Beijing BaiduPay Science and Technology
    Co., Ltd., and Baidu HR Consulting (Shanghai) Co., Ltd., all of
    which are our consolidated affiliated entities in China;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#147;user traffic&#148; or &#147;traffic&#148; refers generally
    to page views and the reach of a website. When used in the
    context of Alexa.com website traffic rankings, &#147;user
    traffic&#148; refers to a combined measure of the &#147;page
    views&#148; and the &#147;reach&#148; of a website averaged over
    a specified period of time, according to Alexa.com. Page views
    measure the number of web pages viewed by Internet users over a
    specified period of time except that multiple page views of the
    same page viewed by the same user on the same day are counted
    only once; reach measures the number of Internet users and is
    typically expressed as the percentage of all Internet users who
    visit a given website;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#147;China&#148; or &#147;PRC&#148; refers to the People&#146;s
    Republic of China, and solely for the purpose of this annual
    report, excluding Taiwan, Hong Kong and Macau;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#147;shares&#148; or &#147;ordinary shares&#148; refers to our
    ordinary shares, which include both Class&#160;A ordinary shares
    and Class&#160;B ordinary shares;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#147;ADSs&#148; refers to our American depositary shares. On
    May&#160;12, 2010, we effected a change of the ADS to
    Class&#160;A ordinary share ratio from 1 ADS representing 1
    Class&#160;A ordinary share to 10 ADSs representing 1
    Class&#160;A ordinary share. The ratio change has the same
    effect as a
    <FONT style="white-space: nowrap">10-for-1</FONT> ADS
    split;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    &#147;U.S.&#160;GAAP&#148; refers to generally accepted
    accounting principles in the United States;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    all references to &#147;RMB&#148; or &#147;Renminbi&#148; are to
    the legal currency of China and all references to &#147;$,&#148;
    &#147;dollars,&#148; &#147;US$&#148; and
    &#147;U.S.&#160;dollars&#148; are to the legal currency of the
    United States;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    all discrepancies in any table between the amounts identified as
    total amounts and the sum of the amounts listed therein are due
    to rounding.
</TD>
</TR>

</TABLE>

<A name='H04360102'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">FORWARD-LOOKING
    INFORMATION</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This annual report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    contains statements of a forward-looking nature. These
    statements are made under the &#147;safe harbor&#148; provisions
    of the U.S.&#160;Private Securities Litigation Reform Act of
    1995. You can identify these forward-looking statements by words
    or phrases such as &#147;may,&#148; &#147;will,&#148;
    &#147;expect,&#148; &#147;anticipate,&#148; &#147;aim,&#148;
    &#147;estimate,&#148; &#147;intend,&#148; &#147;plan,&#148;
    &#147;believe,&#148; &#147;is/are likely to&#148; or other
    similar expressions. We have based these forward- looking
    statements largely on our current expectations and projections
    about future events and financial trends that we believe may
    affect our financial condition, results of operations, business
    strategy and financial needs. These forward-looking statements
    include, but are not limited to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our growth strategies;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our future business development, results of operations and
    financial condition;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to attract and retain users and customers;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to successfully expand into and generate profits
    from our new Internet businesses;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to retain key personnel and attract new talents;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the outcome of ongoing or any future litigation, including those
    relating to copyright or other intellectual property rights;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    competition in the Internet search market;
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the expected growth of the Internet search market and the number
    of Internet and broadband users in China;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    PRC governmental regulations and policies relating to the
    Internet and Internet search providers;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    development of PRC tax law reforms that may have uncertain
    implications on high and new technology companies.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We would like to caution you not to place undue reliance on
    forward-looking statements and you should read these statements
    in conjunction with the risk factors disclosed in
    &#147;Item&#160;3.D. Key Information&#160;&#151; Risk
    Factors.&#148; Those risks are not exhaustive. We operate in a
    rapidly evolving environment. New risk factors emerge from time
    to time and it is impossible for our management to predict all
    risk factors, nor can we assess the impact of all factors on our
    business or the extent to which any factor, or combination of
    factors, may cause actual results to differ materially from
    those contained in any forward-looking statement. We do not
    undertake any obligation to update or revise the forward-looking
    statements except as required under applicable law.
</DIV>

<A name='H04360103'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">PART&#160;I</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="8%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;1.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360104'></A><B><FONT style="font-family: 'Times New Roman', Times">Identity
    of Directors, Senior Management and Advisers</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="8%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;2.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360105'></A><B><FONT style="font-family: 'Times New Roman', Times">Offer
    Statistics and Expected Timetable</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    3
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="8%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;3.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360106'></A><B><FONT style="font-family: 'Times New Roman', Times">Key
    Information</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">A.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Selected
    Financial Data</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table presents the selected consolidated financial
    information for our company. The selected consolidated
    statements of income data for the three years ended
    December&#160;31, 2008, 2009 and 2010 and the consolidated
    balance sheet data as of December&#160;31, 2009 and 2010 have
    been derived from our audited consolidated financial statements,
    which are included in this annual report beginning on
    <FONT style="white-space: nowrap">page&#160;F-1.</FONT>
    The selected consolidated balance sheet data for the year ended
    December&#160;31, 2008 have been derived from our audited
    consolidated balance sheet as of December&#160;31, 2008, which
    is not included in this annual report. The selected consolidated
    statements of income data for the years ended December&#160;31,
    2006 and 2007 and the selected consolidated balance sheet data
    as of December&#160;31, 2006 and 2007 have been derived from our
    audited consolidated financial statements for the years ended
    December&#160;31, 2006 and 2007, which are not included in this
    annual report. Our historical results do not necessarily
    indicate results expected for any future periods. The selected
    consolidated financial data should be read in conjunction with,
    and are qualified in their entirety by reference to, our audited
    consolidated financial statements and related notes and
    &#147;Item&#160;5. Operating and Financial Review and
    Prospects&#148; below. Our audited consolidated financial
    statements are prepared and presented in accordance with
    U.S.&#160;GAAP.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="43%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="22" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Year Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2006</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="22" align="center" valign="bottom">
    <B>(In thousands except per share and per ADS data)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Consolidated Statements of Income Data:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Revenues:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Online marketing services
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    828,484
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,741,021
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,194,461
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,445,310
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,912,869
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,198,920
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Other services
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,354
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,404
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,791
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,466
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,205
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    334
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    837,838
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,744,425
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,198,252
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,447,776
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,915,074
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,199,254
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating costs and expenses:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Cost of revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (245,489
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (645,406
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,155,457
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,616,236
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,149,288
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (325,650
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Selling, general and administrative
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (250,240
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (411,163
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (659,804
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (803,988
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,088,980
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (164,997
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Research and development
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (79,231
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (140,702
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (286,256
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (422,615
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (718,038
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (108,794
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total operating costs and expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (574,960
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,197,271
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,101,517
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,842,839
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,956,306
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (599,441
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating profit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    262,878
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    547,154
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,096,735
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,604,937
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,958,768
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    599,813
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Interest income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42,443
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    49,009
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    47,677
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,661
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    67,121
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,170
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Loss from equity method investments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (229
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (8,965
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,359
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other income, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,098
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,053
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,767
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45,752
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44,239
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,703
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Income before tax and cumulative effect of change in accounting
    principle
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    309,419
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    616,216
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,164,179
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,683,121
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,061,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    615,327
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Taxation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (12,256
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,752
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (116,071
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (198,017
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (535,995
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (81,211
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Cumulative effect of change in accounting principle
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,603
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    301,766
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    628,968
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,048,108
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,485,104
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,525,168
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    534,116
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    4
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="43%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="22" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Year Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2006</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="22" align="center" valign="bottom">
    <B>(In thousands except per share and per ADS data)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income per Class&#160;A ordinary share, per Class&#160;B
    ordinary
    share<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Basic:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    Basic (prior to cumulative effect of change in accounting
    principle)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.92
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18.57
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30.63
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42.96
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    101.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.35
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    Cumulative effect of change in accounting principle
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.14
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    Basic (after cumulative effect of change in accounting principle)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.06
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18.57
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30.63
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42.96
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    101.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.35
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Diluted:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    Diluted (prior to cumulative effect of change in accounting
    principle)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.62
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18.11
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.96
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    Cumulative effect of change in accounting principle
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.13
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    Diluted (after cumulative effect of change in accounting
    principle)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.75
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18.11
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.96
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income per ADS
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Basic:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    Basic (prior to cumulative effect of change in accounting
    principle)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.89
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.86
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.06
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.13
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.53
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    Cumulative effect of change in accounting principle
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.01
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    Basic (after cumulative effect of change in accounting principle)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.90
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.86
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.06
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.13
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.53
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Diluted:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    Diluted (prior to cumulative effect of change in accounting
    principle)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.86
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.81
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.02
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.27
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.53
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    Cumulative effect of change in accounting principle
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.01
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    Diluted (after cumulative effect of change in accounting
    principle)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0.87
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.81
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.02
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.27
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.53
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    As holders of Class&#160;A and Class&#160;B ordinary shares have
    the same dividend right and the same participation right in our
    undistributed earnings, the basic and diluted net income per
    share of Class&#160;A and Class&#160;B ordinary shares are the
    same for all the periods presented during which there were two
    classes of ordinary shares. The weighted average number of
    ordinary shares represents the sum of the weighted average
    number of Class&#160;A and Class&#160;B ordinary shares. Please
    see &#147;Earnings per Share&#148; under Note&#160;14 to our
    audited consolidated financial statements included in this
    annual report for additional information regarding the
    computation of the per share amount and the weighted average
    numbers of Class&#160;A and Class&#160;B ordinary shares.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="34%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="22" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>As of December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2006</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2007</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="22" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Consolidated Balance Sheets Data:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Cash and cash equivalents
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,136,274
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,350,600
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,357,609
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,180,376
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,781,976
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,179,087
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Restricted cash
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,562
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,513
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38,278
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,800
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,668,077
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,655,908
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,937,991
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,156,975
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,048,439
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,674,006
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    310,816
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    634,536
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    849,328
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,403,874
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,642,847
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    400,431
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total shareholders&#146; equity
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,357,261
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,021,372
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,088,663
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,753,101
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,405,592
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,273,575
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total liabilities and shareholders&#146; equity
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,668,077
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,655,908
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,937,991
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,156,975
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,048,439
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,674,006
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exchange
    Rate Information</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our business is primarily conducted in China and almost all of
    our revenues are denominated in RMB. However, periodic reports
    made to shareholders will include current period amounts
    translated into U.S.&#160;dollars using the then current
    exchange rates, for the convenience of the readers. The
    conversion of RMB into U.S.&#160;dollars in this annual report
    is based on the noon buying rate in New York City for cable
    transfers in RMB as certified for customs purposes by the
    Federal Reserve Board. Unless otherwise noted, all translations
    from RMB to U.S.&#160;dollars and from U.S.&#160;dollars to RMB
    in this annual report were made at a rate of RMB6.6000 to
    US$1.00, the noon buying rate in effect as of December&#160;30,
    2010. We make no representation that any RMB or U.S.&#160;dollar
    amounts could have been, or could be, converted into
    U.S.&#160;dollars or RMB, as the case may be, at any particular
    rate, or at all. The PRC government imposes control over its
    foreign currency reserves in part through direct regulation of
    the conversion of RMB into foreign exchange and through
    restrictions on foreign trade. On March&#160;25, 2011, the noon
    buying rate was RMB6.5568 to US$1.00.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth information concerning exchange
    rates between the RMB and the U.S.&#160;dollar for the periods
    indicated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="60%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Noon Buying Rate</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Period</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Period-End</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Average<SUP style="font-size: 85%; vertical-align: top">(1)</SUP></B>

</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Low</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>High</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>(RMB per U.S. Dollar)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2006
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.8041
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.9579
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8.0702
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.8041
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2007
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.2946
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.5806
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.8127
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.2946
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.8225
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.9193
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.2946
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.7800
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.8259
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.8295
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.8470
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.8176
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.7603
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.8330
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    September
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6905
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.7396
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.8102
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6869
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    October
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6707
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6678
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6912
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6397
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    November
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6670
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6538
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6892
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6330
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    December
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6497
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6745
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    January
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6017
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.5964
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.6364
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.5809
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    February
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.5713
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.5761
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.5965
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.5520
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    March (through March&#160;25, 2011)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.5568
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.5660
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.5743
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.5510
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD colspan="17" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD colspan="17" style="border-top: 1px solid #000000">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Source: Federal Reserve Statistical Release
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Annual averages are calculated using the average of month-end
    rates of the relevant year. Monthly averages are calculated
    using the average of the daily rates during the relevant period.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">B.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Capitalization
    and Indebtedness</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">C.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Reasons
    for the Offer and Use of Proceeds</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">D.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Risk
    Factors </FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Risks
    Related to Our Business</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">If we
    fail to retain existing customers or attract new customers for
    our online marketing services, our business, results of
    operations and growth prospects could be seriously
    harmed.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We generate almost all of our revenues from online marketing
    services, a substantial majority of which are derived from our
    <FONT style="white-space: nowrap">pay-for-performance,</FONT>
    or P4P, services. Our online marketing customers will not
    continue to do business with us if their investment does not
    generate sales leads and ultimately consumers, or if we do not
    deliver their web pages in an appropriate and effective manner.
    Our P4P customers may discontinue their business with us at any
    time and for any reason as they are not subject to fixed-term
    contracts. In April 2009, we officially launched Online
    Marketing Professional Edition, which we also refer to as
    Phoenix Nest, our new auction-based online marketing system
    designed to improve relevance in paid search and increase value
    for customers. In December 2009, we completed the switch from
    our previous online marketing system, which we refer to as the
    Online Marketing Classic Edition, to Phoenix Nest. If Phoenix
    Nest is perceived to be a less effective marketing tool than the
    Online Marketing Classic Edition, we may lose existing customers
    or encounter difficulty attracting new customers. In addition,
    we have in the past removed, and may in the future again remove,
    questionable paid search listings of some customers to ensure
    the quality and reliability of our search results. Such removal,
    whether temporary or permanent, may cause the affected customers
    to discontinue their business with us. Moreover, third parties
    may develop and use certain technologies to block the display of
    our customers&#146; advertisements and other marketing products
    on our Baidu.com website, which may in turn cause us to lose
    customers and adversely affect our operating results.
    Furthermore, we adjust prices for our online marketing services
    from time to time. We may lose customers who decide not to pay
    our increased prices. Failure to retain our existing customers
    or attract new customers for our online marketing services could
    seriously harm our business, results of operations and growth
    prospects.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">If
    online marketing does not further grow in China, our ability to
    increase revenue and profitability could be materially and
    adversely affected.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The use of the Internet as a marketing channel is at a
    developing stage in China. Internet penetration rate in China is
    relatively low as compared to that in most developed countries.
    Many of our current and potential customers have limited
    experience with the Internet as a marketing channel, and
    historically have not devoted a significant portion of their
    marketing budgets to online marketing and promotion. As a
    result, they may not consider the Internet an effective channel
    to promote their products and services as compared to
    traditional print and broadcast media. Our ability to increase
    revenue and profitability from online marketing may be adversely
    impacted by a number of factors, many of which are beyond our
    control, including:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    difficulties associated with developing a larger user base with
    demographic characteristics attractive to customers;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    increased competition and potential downward pressure on online
    marketing prices;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    higher customer acquisition costs due in part to the limited
    experience of small to medium-sized enterprises, or SMEs, with
    the Internet as a marketing channel;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    failure to develop an independent and reliable means of
    verifying online traffic;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    ineffectiveness of our online marketing delivery, tracking and
    reporting systems;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    decreased use of Internet or online marketing in China.
</TD>
</TR>

</TABLE>
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    <BR>
    7
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    business depends on a strong brand, and if we are not able to
    maintain and enhance our brand, our business and operating
    results may be harmed.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We believe that our brand &#147;Baidu&#148; has contributed
    significantly to the success of our business. We also believe
    that maintaining and enhancing the &#147;Baidu&#148; brand is
    critical to increasing the numbers of our users, customers and
    Baidu Union members. Maintaining and enhancing our brand will
    depend largely on our ability to remain as the Internet search
    leader in China, which may become more expensive and challenging.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Historically, we developed our user base primarily by
    <FONT style="white-space: nowrap">word-of-mouth</FONT>
    and incurred limited brand promotion expenses. Our initial
    public offering in 2005 and positive media coverage in
    subsequent years have significantly enhanced our brand
    recognition. We have also conducted marketing and brand
    promotion activities in recent years, but we cannot assure you
    that these activities will achieve the brand promotion effect
    expected by us. If we fail to maintain and further promote the
    &#147;Baidu&#148; brand, or if we incur excessive expenses in
    this effort, our business and results of operations may be
    materially and adversely affected. In addition, any negative
    publicity about our company, our products and services, our
    employees, our business practices, or our search results or
    websites to which our search results link, regardless of its
    veracity, could harm our brand image and in turn adversely
    affect our business and operating results.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We
    face significant competition and may suffer from a loss of users
    and customers as a result.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We face significant competition in almost every aspect of our
    business, particularly from other companies that seek to provide
    Internet search services to users and provide online marketing
    services to customers. In the Chinese Internet search market,
    our main competitors include
    <FONT style="white-space: nowrap">U.S.-based</FONT>
    Internet search providers providing Chinese language Internet
    search services, such as Google and Microsoft, and China-based
    Internet companies, such as Netease, Sohu, Tencent and Alibaba.
    We compete with these entities for both users and customers on
    the basis of user traffic, quality (relevance) and quantity
    (index size) of the search results, availability and ease of use
    of products and services, the number of customers, distribution
    channels and the number of associated third-party websites. In
    addition, our
    <FONT style="white-space: nowrap">e-commerce</FONT>
    services face competition from the existing leading
    <FONT style="white-space: nowrap">e-commerce</FONT>
    companies in China.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Some of our competitors have significantly greater financial
    resources, longer operating histories and more experience in
    attracting and retaining users and managing customers than we
    do. They may use their experience and resources to compete with
    us in a variety of ways, including by competing more heavily for
    users, customers, distributors, strategic partners and networks
    of third-party websites, investing more heavily in research and
    development and making acquisitions. If any of our competitors
    provides comparable or better Chinese language search
    experience, our user traffic could decline significantly. Any
    such decline in traffic could weaken our brand and result in
    loss of customers, which would have a material adverse effect on
    our results of operations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We also face competition from other types of advertising media,
    such as newspapers, magazines, yellow pages, billboards and
    other forms of outdoor media, television and radio. Large
    companies in China generally allocate, and may continue to
    allocate, most of their marketing budgets to traditional
    advertising media and only a small portion of their budgets to
    online marketing and other forms of advertising media. If these
    companies do not devote a larger portion of their marketing
    budgets to online marketing services provided by us, or if our
    existing customers reduce the amount they spend on online
    marketing, our results of operations and growth prospects could
    be adversely affected.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">If our
    expansions into new Internet businesses are not successful, our
    future results of operations and growth prospects may be
    materially and adversely affected.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As part of our growth strategy, we enter into new Internet
    businesses from time to time by leveraging our large Internet
    search user base to generate additional revenue streams.
    Expansions into new businesses may present operating and
    marketing challenges that are different from those that we
    currently encounter. For each new business we enter into, we
    face competition from existing leading players in that business.
    If we cannot successfully address the new challenges and compete
    effectively against the existing leading players in the new
    businesses, we may not be able to develop a sufficiently large
    customer and user base, recover costs incurred for developing
    and marketing
</DIV>
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    <BR>
    8
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    new businesses, and eventually achieve profitability from these
    businesses, and our future results of operations and growth
    prospects may be materially and adversely affected.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">If we
    fail to continue to innovate and provide products and services
    to attract and retain users, we may not be able to generate
    sufficient user traffic levels to remain
    competitive.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our success depends on providing products and services to
    attract users and enable users to have a high-quality Internet
    experience. In order to attract and retain users and compete
    against our competitors, we must continue to invest significant
    resources in research and development to enhance our Internet
    search technology, improve our existing products and services
    and introduce additional high-quality products and services. If
    we are unable to anticipate user preferences or industry
    changes, or if we are unable to modify our products and services
    on a timely basis, we may lose users. Our operating results may
    also suffer if our innovations do not respond to the needs of
    our users, are not appropriately timed with market opportunities
    or are not effectively brought to market. As search technology
    continues to develop, our competitors may be able to offer
    search results that are, or that are perceived to be,
    substantially similar to or better than those generated by our
    search services. This may force us to expend significant
    resources in order to remain competitive.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">If we
    fail to keep up with rapid changes in technologies and user
    behavior, our future success may be adversely
    affected.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our future success will depend on our ability to respond to
    rapidly changing technologies, adapt our services to evolving
    industry standards and improve the performance and reliability
    of our services. Our failure to adapt to such changes could harm
    our business. In addition, changes in user behavior resulting
    from technological developments may also adversely affect us.
    For example, the number of people accessing the Internet through
    devices other than personal computers, including mobile phones
    and other hand-held devices, has increased in recent years, and
    we expect this trend to continue while 3G and more advanced
    mobile communications technologies are broadly implemented. If
    we fail to develop products and technologies that are compatible
    with all mobile devices, or if the products and services we
    develop are not widely accepted and used by users of various
    mobile devices, we may not be able to penetrate the mobile
    markets. In addition, the widespread adoption of new Internet,
    networking or telecommunications technologies or other
    technological changes could require substantial expenditures to
    modify or integrate our products, services or infrastructure. If
    we fail to keep up with rapid technological changes to remain
    competitive, our future success may be adversely affected.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Interruption
    or failure of our own information technology and communications
    systems or those of third-party service providers we rely upon
    could impair our ability to provide our products and services,
    which could damage our reputation and harm our operating
    results.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our ability to provide our products and services depends on the
    continuing operation of our information technology and
    communications systems. Any damage to or failure of our systems
    could interrupt our service. Service interruptions could reduce
    our revenues and profits and damage our brand if our system is
    perceived to be unreliable. Our systems are vulnerable to damage
    or interruption as a result of terrorist attacks, wars,
    earthquakes, floods, fires, power loss, telecommunications
    failures, undetected errors or &#147;bugs&#148; in our software,
    computer viruses, interruptions in access to our websites
    through the use of &#147;denial of service&#148; or similar
    attacks, hacking or other attempts to harm our systems, and
    similar events. Some of our systems are not fully redundant, and
    our disaster recovery planning does not account for all possible
    scenarios.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our servers, which are hosted at third-party Internet data
    centers, are vulnerable to break-ins, sabotage and vandalism.
    The occurrence of a natural disaster or a closure of an Internet
    data center by a third-party provider without adequate notice
    could result in lengthy service interruptions. In addition, our
    domain names are resolved into Internet protocol (IP) addresses
    by systems of third-party domain name registrars and registries.
    Any interruptions or failures of those service providers&#146;
    systems, which are beyond our control, could significantly
    disrupt our own services. In January 2010, the name server
    records of our main domain name, Baidu.com, which are recorded
    on the systems of a domain name registrar in the U.S., were
    modified by hackers who gained access to such records. As a
    result, our Internet search services were interrupted for
    approximately five hours.
</DIV>
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    <BR>
    9
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If we experience frequent or persistent system failures on our
    websites, whether due to interruptions and failures of our own
    information technology and communications systems or those of
    third-party service providers we rely upon, our reputation and
    brand could be severely harmed. The steps we take to increase
    the reliability and redundancy of our systems are expensive, may
    reduce our operating margin and may not be successful in
    reducing the frequency or duration of service interruptions.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We may
    not be able to manage our expanding operations
    effectively.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have significantly expanded our operations in recent years.
    We expect this expansion trend to continue as we grow our user
    and customer base and explore new opportunities. To manage the
    further expansion of our business and growth of our operations
    and personnel, we need to continuously improve our operational
    and financial systems, procedures and controls, and expand,
    train, manage and maintain good relations with our growing
    employee base. We have experienced labor disputes in the past.
    Although these disputes were resolved promptly, we cannot assure
    you that there won&#146;t be any new labor dispute in the
    future. In addition, we must maintain and expand our
    relationships with other websites, Internet companies and other
    third parties. Our current and future personnel, systems,
    procedures and controls may not be adequate to support our
    expanding operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We may
    face intellectual property infringement claims and other related
    claims that could be time-consuming and costly to defend and may
    result in a material adverse impact over our
    operations.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Internet, technology and media companies are frequently involved
    in litigation based on allegations of infringement of
    intellectual property rights, unfair competition, invasion of
    privacy, defamation and other violations of other parties&#146;
    rights. The validity, enforceability and scope of protection of
    intellectual property in Internet-related industries,
    particularly in China, are uncertain and still evolving. As we
    face increasing competition and as litigation becomes more
    common in China in resolving commercial disputes, we face a
    higher risk of being the subject of intellectual property
    infringement claims. We may be also subject to administrative
    actions brought by the PRC State Copyright Bureau, and in the
    most severe scenario criminal prosecution, for alleged copyright
    infringement, and as a result may be subject to fines and other
    penalties and be required to discontinue infringing activities.
    Furthermore, as we expand our operations outside China, we may
    be subject to claims brought again us in jurisdictions outside
    China.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our products and services link to materials in which third
    parties may claim ownership of trademarks, copyrights or other
    rights. For example, we provide search engine facilities capable
    of finding and accessing links to downloadable audio, video,
    image and other multimedia files and other items hosted on
    third-party websites, including search functions that enable our
    users to search for files in various ways, such as by artist,
    title, or via lists of most-searched-for titles and artists.
    Some of these contents found using our search engine facilities
    may be protected by copyright or other intellectual property
    rights. Like many other Internet websites, we host on our
    websites certain song lyrics which may be protected by
    copyright. As a result, we may be subject to copyright or
    trademark infringement and other related claims from time to
    time, in China and internationally.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In China, uncertainties still exist with respect to the legal
    standards as well as the judicial interpretation of such
    standards for determining liabilities of Internet search
    providers for providing links to contents on third-party
    websites that infringe others&#146; copyrights. In December
    2007, the High People&#146;s Court of Beijing upheld a lower
    court&#146;s ruling in our favor in a case originally filed
    against us in 2005 by seven music record companies alleging that
    our MP3 search services had infringed their copyrights. The
    court ruled that our service, which only provides links to
    online music hosted on third parties&#146; websites, does not
    constitute infringement. In the same month, however, the High
    People&#146;s Court of Beijing upheld the decision by another
    lower court in favor of the record companies in a suit
    originally filed by 11 record companies against Yahoo! China,
    one of our competitors, in July 2006. In the Yahoo! China case,
    the court held that Yahoo! China was negligent in failing to
    remove all links to the infringing content after receiving
    notice from copyright holders, including those links that it
    &#147;should have known&#148; to have infringing content.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Although prior court rulings in China have only limited
    precedential value, the ruling of the High People&#146;s Court
    of Beijing in the Yahoo! China case seems to suggest that the
    courts in future cases may place the burden on Internet search
    providers to remove not only links that have been specifically
    mentioned in notices of infringement
</DIV>
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    from right holders, but also links they &#147;should have
    known&#148; to contain infringing content. This interpretation
    was also adopted in the guidance on Internet related copyright
    infringement litigations issued by the High People&#146;s Court
    of Beijing in May 2010. Such an interpretation of the applicable
    law could subject Internet search providers like us to
    significant administrative burdens and litigation risks.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We conduct our business operations outside the United States.
    However, we may be subject to U.S.&#160;copyright laws,
    including the legal standards for determining indirect liability
    for copyright infringement, by virtue of our listing on the
    NASDAQ, the ownership of our ADSs or ordinary shares by
    U.S.&#160;residents, the extraterritorial application of
    U.S.&#160;law by U.S.&#160;courts or otherwise. In June 2009, a
    plaintiff filed a copyright infringement lawsuit against us in
    the U.S.&#160;District Court for the Southern District of New
    York. In December 2009, the court granted our motion to dismiss
    the complaint on the grounds of insufficient service of process
    and lack of personal jurisdiction. The plaintiff did not appeal
    the trial court&#146;s ruling. Despite the above ruling in our
    favor, we cannot assure you that we will not be subject to
    lawsuits or other proceedings in the U.S.&#160;or elsewhere in
    the future.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Intellectual property litigation is expensive and time-consuming
    and could divert resources and management attention from the
    operations of our business. We are currently named as a
    defendant in a number of copyright infringement suits in
    connection with our MP3 and other search services. See
    &#147;Item&#160;8.A. Financial Information&#160;&#151;
    Consolidated Statements and Other Financial
    Information&#160;&#151; Legal Proceedings.&#148; If there is a
    successful claim of infringement, we may be required to
    discontinue the infringing activities, pay substantial fines and
    damages
    <FONT style="white-space: nowrap">and/or</FONT> enter
    into royalty or license agreements that may not be available on
    commercially acceptable terms, if at all. Our failure to obtain
    a license of the rights on a timely basis could harm our
    business. Any intellectual property litigation
    <FONT style="white-space: nowrap">and/or</FONT> any
    negative publicity by third parties alleging our intellectual
    property infringement could have a material adverse effect on
    our business, reputation, financial condition or results of
    operations. To address the risks relating to intellectual
    property infringement, we may have to substantially modify,
    limit or terminate some of our search services. Any such change
    could materially affect user experience and in turn have a
    material adverse impact on our business.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We
    have been and may again be subject to claims based on the
    content found on our websites or the results in our paid search
    listings.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition to the content developed by ourselves and posted on
    our websites, our users are free to post information on Baidu
    Post Bar, Baidu Knows, Baidu Encyclopedia and other sections of
    our websites, and our P4P customers may create text-based
    descriptions and other phrases to be used as text or keywords in
    our search listings. We have been and may continue to be subject
    to claims for defamation, negligence or other legal theories
    based on the content found on our websites. Claims for
    defamation, negligence or other legal theories based on the
    content found on our websites, with or without merit, may result
    in diversion of management attention and financial resources and
    negative publicity on our brand and reputation. See
    &#147;Item&#160;8A. Financial Information&#160;&#151;
    Consolidated Statements and Other Financial
    Information&#160;&#151; Legal Proceedings.&#148; Furthermore, if
    the content posted on our websites contains information that
    government authorities find objectionable, our websites may be
    shut down and we may be subject to other penalties. See
    &#147;&#151;&#160;Risks Related to Doing Business in
    China&#160;&#151; Regulation and censorship of information
    disseminated over the Internet in China may adversely affect our
    business and subject us to liability for information displayed
    on or linked to our websites.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under PRC advertising laws and regulations, we, as an online
    advertising service provider, are obligated to monitor the
    advertising content posted on our websites to ensure that such
    content is fair and accurate and in compliance with applicable
    law. In addition, where a special government review is required
    for specific categories of advertisements before posting, we are
    obligated to confirm that such review has been performed and
    approval has been obtained. See &#147;Item&#160;4.B. Information
    on the Company&#160;&#151; Business Overview&#160;&#151;
    Regulation&#160;&#151; Regulations on Advertisements.&#148; Our
    reputation could be hurt and our results of operations could be
    adversely affected due to penalties imposed on us if
    advertisements shown on our websites are provided to us by our
    advertising clients in violation of relevant PRC advertising
    laws and regulations, or if the supporting documentation and
    government approvals provided to us by our advertising clients
    in connection with such advertising content are not complete.
    Our P4P services are not subject to PRC advertising laws and
    regulations because PRC laws and regulations and administrative
    authorities currently do not classify P4P services as a form of
    online advertising. However, if P4P services are classified as a
    form of online advertising in the future, we would be obligated
    to examine the content of
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    our P4P customers&#146; listings on our websites, as required by
    PRC advertising laws, and such examination could be very
    burdensome.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Moreover, we have been and in the future may again be subject to
    claims or negative publicity based on the results in our paid
    search listings. Claims have been filed against us after we
    allowed certain customers to purchase keywords containing
    trademarks, trade names or brand names owned by others and
    displayed links to such customers&#146; websites in our paid
    search listings. While we maintain a database of certain
    well-known trademarks and would not allow a customer to submit a
    keyword containing the well-known trademarks that we know are
    owned by others, it is not possible for us to completely prevent
    our customers from bidding on keywords that contain trademarks,
    trade names or brand names owned by others. Claims and negative
    publicity based on the results in our paid search listings,
    regardless of their merit, may divert management attention,
    severely disrupt our operations, adversely affect our results of
    operations and harm our reputation.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We may
    be subject to patent infringement claims with respect to our P4P
    platform.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our technologies and business methods, including those relating
    to our P4P platform, may be subject to third-party claims or
    rights that limit or prevent their use. In June 2005, we applied
    for a patent in China for our P4P platform, but our application
    was rejected on the ground that it is not patentable. Certain
    <FONT style="white-space: nowrap">U.S.-based</FONT>
    companies, including Overture Services Inc., have been granted
    patents in the United States relating to P4P platforms and
    similar business methods and related technologies. While we
    believe that we are not subject to U.S.&#160;patent laws since
    we conduct our business operations outside of the United States,
    we cannot assure you that U.S.&#160;patent laws would not be
    applicable to our business operations, or that holders of
    patents relating to a P4P platform would not seek to enforce
    such patents against us in the United States or China.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, many parties are actively developing and seeking
    protection for Internet-related technologies, including seeking
    patent protection. There may be patents issued or pending that
    are held by others that relate to certain aspects of our
    technologies, products, business methods or services. For
    example, we are aware that a patent has been issued in China
    relating to a method used by a database search system that
    determines the optimal bidding price for keywords based on an
    advertiser&#146;s desired place in a search listing. Based on
    our own analysis and the analysis conducted by a third-party
    intellectual property agency, we do not believe that our P4P
    platform infringes this patent because, among other things, our
    system ranks customers&#146; links according to a comprehensive
    ranking index calculated based on both the quality factor of a
    keyword and the price bid on the keyword. However, the
    application and interpretation of Chinese patent laws and the
    procedures and standards for granting patents in China are still
    evolving and involve uncertainty. We cannot assure you that PRC
    courts or regulatory authorities would agree with the above
    analysis. Any patent infringement claims, regardless of their
    merits, could be time-consuming and costly to us. If we were
    sued for patent infringement claims with respect to our P4P
    platform and were found to infringe such patents and were not
    able to adopt non-infringing technologies, we may be severely
    limited in our ability to operate our P4P platform, which would
    have a material adverse effect on our results of operations and
    prospects.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    business may be adversely affected by third-party software
    applications or practices that interfere with our receipt of
    information from, or provision of information to, our users,
    which may impair our users&#146; experience.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our business may be adversely affected by third-party malicious
    or unintentional software applications that make changes to our
    users&#146; computers and interfere with our products and
    services. These software applications may change our users&#146;
    Internet experience by hijacking queries to our websites,
    altering or replacing our search results, or otherwise
    interfering with our ability to connect with our users. The
    interference often occurs without disclosure to or consent from
    users, resulting in a negative experience that users may
    associate with our websites. These software applications may be
    difficult or impossible to remove or disable, may reinstall
    themselves and may circumvent other applications&#146; efforts
    to block or remove them. In addition, our business may be
    adversely affected by the practices of third-party website
    owners which interfere with our ability to crawl and index their
    web pages. The ability to provide a superior user experience is
    critical to our success. If we are unable to successfully combat
    third-party software applications that interfere with our
    products and services, our reputation may be harmed. If a
</DIV>
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    significant number of website owners prevent us from indexing
    and including their web pages in our search results, the quality
    of our search results may be impaired.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    success depends on the continuing and collaborative efforts of
    our management team and other key personnel, and our business
    may be harmed if we lose their services.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our future success depends heavily upon the continuing services
    of our management team, in particular our chairman and chief
    executive officer, Robin Yanhong Li. If one or more of our
    executives or other key personnel are unable or unwilling to
    continue in their present positions, we may not be able to
    replace them easily or at all, and our business may be disrupted
    and our financial condition and results of operations may be
    materially and adversely affected. Our former chief operating
    officer and chief technology officer resigned for personal
    reasons in January 2010, and we have not appointed new chief
    operating officer or chief technology officer. Competition for
    management and key personnel is intense, the pool of qualified
    candidates is limited, and we may not be able to retain the
    services of our executives or key personnel, or attract and
    retain experienced executives or key personnel in the future.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If any of our executives or other key personnel joins a
    competitor or forms a competing company, we may lose customers,
    distributors, know-how and key personnel. Each of our executive
    officers and key employees has entered into an employment
    agreement with us, containing confidentiality and
    non-competition provisions. If any disputes arise between any of
    our executives or key personnel and us, we cannot assure you the
    extent to which any of these agreements may be enforced.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We
    rely on highly skilled personnel. If we are unable to retain or
    motivate them or hire additional qualified personnel, we may not
    be able to grow effectively.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our performance and future success depend on the talents and
    efforts of highly skilled individuals. We will need to continue
    to identify, hire, develop, motivate and retain highly skilled
    personnel for all areas of our organization. Competition in the
    Internet industry for qualified employees is intense. Our
    continued ability to compete effectively depends on our ability
    to attract new employees and to retain and motivate our existing
    employees.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As competition in the Internet industry intensifies, it may be
    more difficult for us to hire, motivate and retain highly
    skilled personnel. If we do not succeed in attracting additional
    highly skilled personnel or retaining or motivating our existing
    personnel, we may be unable to grow effectively.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We are
    subject to risks and uncertainties faced by companies in a
    rapidly evolving industry.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We operate in the rapidly evolving Internet industry, which
    makes it difficult to predict our future operating results.
    Accordingly, you should consider our future prospects in light
    of the risks and uncertainties experienced by companies in
    evolving industries. Some of these risks and uncertainties
    relate to our ability to:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    maintain our leading position in the Chinese language Internet
    search market;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    offer new, innovative products and services to attract and
    retain a larger user base;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    attract additional customers and increase spending per customer;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    further enhance our brand;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    maintain the quality of our products and services and continue
    to develop user and customer loyalty;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    respond to competitive market conditions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    respond to changes in the regulatory environment;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    manage legal risks, including those associated with intellectual
    property rights;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    maintain effective control of our costs and expenses;
</TD>
</TR>

</TABLE>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    attract, retain and motivate qualified personnel and maintain
    good relations with a young and growing work force;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    build profitable operations in new markets such as the Japanese
    Internet search market;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    upgrade our technology to support increased traffic and expanded
    services.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If we are unsuccessful in addressing any of these risks and
    uncertainties, our business may be materially and adversely
    affected.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    historical growth rate may not be indicative of our future
    growth rate.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have experienced substantial growth in recent years. Our
    total revenues and net income grew at a compound annual growth
    rate, or CAGR, of 75.3% and 84.9%, respectively, from 2006 to
    2010. Our growth was driven in part by the growth in
    China&#146;s Internet and online marketing industries, which may
    not be indicative of future growth or be sustainable. Our past
    growth rate may not be indicative of our future growth rate.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    operating results may fluctuate, which makes our results
    difficult to predict and could cause our results to fall short
    of expectations.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our operating results may fluctuate as a result of a number of
    factors, many of which are outside of our control. For these
    reasons, comparing our operating results on a
    <FONT style="white-space: nowrap">period-to-period</FONT>
    basis may not be meaningful, and you should not rely on our past
    results as an indication of our future performance. Our
    quarterly and annual revenues and costs and expenses as a
    percentage of our revenues may be significantly different from
    our historical or projected figures. Our operating results in
    future quarters may fall below expectations. Any of these events
    could cause the price of our ADSs to fall. Any of the risk
    factors listed in this &#147;Risk Factors&#148; section, and in
    particular the following risk factors, could cause our operating
    results to fluctuate from quarter to quarter:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    general economic conditions in China and economic conditions
    specific to the Internet, Internet search and online marketing;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to continue to attract users to our websites;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ability to attract additional customers and increase
    spending per customer;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the announcement or introduction of new or enhanced products and
    services by us or our competitors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the amount and timing of operating costs and capital
    expenditures related to the maintenance and expansion of our
    businesses, operations and infrastructure;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the results of our acquisitions of, or investments in, other
    businesses or assets;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    PRC regulations or government actions pertaining to activities
    on the Internet, including music, video, news, gambling, online
    games and other forms of entertainment, or otherwise affecting
    our online marketing customers;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    unforeseen events, such as negative publicity arising from
    reports by influential media outlets and other sources and labor
    disputes;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    geopolitical events, natural disasters or epidemics.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Because of the rapid growth of our business, our historical
    operating results may not be useful to you in predicting our
    future operating results. Our user traffic tends to be seasonal.
    For example, we generally experience less user traffic during
    public holidays and other special event periods in China. In
    addition, advertising and other marketing spending in China has
    historically been cyclical, reflecting overall economic
    conditions as well as budgeting and buying patterns. Our rapid
    growth has lessened the impact of the cyclicality and
    seasonality of our business. As we continue to grow, we expect
    that the cyclicality and seasonality in our business may cause
    our operating results to fluctuate.
</DIV>
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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">A
    severe and prolonged global economic recession and the
    corresponding slowdown in the Chinese economy may adversely
    affect our business, results of operations and financial
    condition.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The world economy is still recovering from the recent global
    financial crisis. While the Chinese economy has recovered more
    quickly than some other major economies, it still faces
    challenges. The long-term effects of the stimulus plans and
    other measures implemented by the Chinese government since 2008
    remain to be seen. Since we derive most of our revenues from
    online marketing customers in China, any prolonged slowdown in
    the Chinese economy may have a negative impact on our business,
    operating results and financial condition in a number of ways.
    For example, our customers may reduce or delay spending with us,
    while we may have difficulty expanding our customer base fast
    enough, or at all, to offset the impact of decreased spending by
    our existing customers. In addition, to the extent we offer
    credit to any customer and such customer experiences financial
    difficulties due to the economic slowdown, we could have
    difficulty collecting payment from such customer.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We may
    not be able to prevent others from unauthorized use of our
    intellectual property, which could harm our business and
    competitive position.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We rely on a combination of copyright, trademark and trade
    secret laws, as well as nondisclosure agreements and other
    methods to protect our intellectual property rights. The
    protection of intellectual property rights in China may not be
    as effective as those in the United States or other countries.
    The steps we have taken may be inadequate to prevent the
    misappropriation of our technology. Reverse engineering,
    unauthorized copying or other misappropriation of our
    technologies could enable third parties to benefit from our
    technologies without paying us. Moreover, unauthorized use of
    our technology could enable our competitors to offer products
    and services that are comparable to or better than ours, which
    could harm our business and competitive position. From time to
    time, we may have to enforce our intellectual property rights
    through litigation. Such litigation may result in substantial
    costs and diversion of resources and management attention.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Because
    we rely to a large extent on distributors in providing our P4P
    services, our failure to retain key distributors or attract
    additional distributors could materially and adversely affect
    our business. Moreover, there is no assurance that our direct
    sales model in some key geographic markets will continue to be
    successful.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Online marketing is at an early stage of development in China
    and is not as widely accepted by or available to businesses in
    China as in the United States. As a result, we rely to a large
    extent on a nationwide distribution network of third-party
    distributors for our sales to, and collection of payment from,
    our P4P customers. If our distributors do not provide quality
    services to our P4P customers or otherwise breach their
    contracts with our P4P customers, we may lose customers and our
    results of operations may be materially and adversely affected.
    We do not have long-term agreements with any of our distributors
    and cannot assure you that we will continue to maintain
    favorable relationships with them. If we fail to retain our key
    distributors or attract additional distributors on terms that
    are commercially reasonable, our business and results of
    operations could be materially and adversely affected.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have transitioned to using our direct sales force to serve
    our P4P customers in some key geographic markets. There is no
    assurance that our direct sales model in those markets will
    continue to be successful. If we fail to maintain an adequate
    direct sales force, retain existing customers and continue to
    attract new customers in those markets, our business, results of
    operations and prospects could be materially and adversely
    affected.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We
    rely on our Baidu Union members for a significant portion of our
    revenues. If we fail to retain existing Baidu Union members or
    attract additional members, our revenue growth and profitability
    may be adversely affected.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We pay our Baidu Union members a portion of our revenues
    generated from click-throughs by users of our Baidu Union
    members&#146; property. We consider our Baidu Union critical to
    the future growth of our revenues. Some of our Baidu Union
    members, however, may compete with us in one or more areas of
    our business. Therefore, they may decide in the future to
    terminate their relationships with us. If our Baidu Union
    members decide to use a competitor&#146;s or their own Internet
    search services, our user traffic may decline, which may
    adversely affect our revenues. If we fail to attract additional
    Baidu Union members, our revenue growth may be adversely
    affected. In
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    addition, if we have to share a larger portion of our revenues
    to retain existing Baidu Union members or attract additional
    members, our profitability may be adversely affected.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    strategy of acquiring complementary businesses, assets and
    technologies may fail.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As part of our business strategy, we have pursued, and intend to
    continue to pursue, selective strategic acquisitions of
    businesses, assets and technologies that complement our existing
    business. For example, we acquired certain intangible assets,
    including domain name, software, trademark, customer
    relationships and non-competition agreements, in 2009 and 2010.
    We may make other acquisitions in the future if suitable
    opportunities arise. Acquisitions involve uncertainties and
    risks, including:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    potential ongoing financial obligations and unforeseen or hidden
    liabilities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    failure to achieve the intended objectives, benefits or
    revenue-enhancing opportunities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    costs and difficulties of integrating acquired businesses and
    managing a larger business;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    diversion of resources and management attention.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our failure to address these risks successfully may have a
    material adverse effect on our financial condition and results
    of operations. Any such acquisition may require a significant
    amount of capital investment, which would decrease the amount of
    cash available for working capital or capital expenditures. In
    addition, if we use our equity securities to pay for
    acquisitions, we may dilute the value of our ADSs and the
    underlying ordinary shares. If we borrow funds to finance
    acquisitions, such debt instruments may contain restrictive
    covenants that could, among other things, restrict us from
    distributing dividends. Such acquisitions may also generate
    significant amortization expenses related to intangible assets.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    Japan operations may not be successful.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We formally launched our Japanese search service in January
    2008, after completing a
    <FONT style="white-space: nowrap">10-month</FONT>
    Beta test for the service. Therefore, we only have limited
    experience operating in the Japanese market. Moreover, our Japan
    operations have incurred operating losses since the inception in
    December 2006, and it is uncertain when the business will become
    profitable, if at all. Additional future losses in our Japan
    operations could have a material adverse effect on our overall
    results of operations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Japanese search market is highly competitive and currently
    is dominated by two companies, Yahoo! Japan and Google. These
    companies have significantly greater financial resources, longer
    operating history and more experience in the Japanese search
    market than we do. Moreover, other local providers of competing
    search services may also have a substantial advantage over us in
    attracting users due to their more established brands in Japan,
    greater knowledge with respect to the tastes and preferences of
    Japanese users and their focus on the Japanese market. If we
    cannot compete successfully with these competitors in the
    Japanese language search market, our business in Japan could be
    adversely affected.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, there are certain risks inherent in doing business
    internationally, including:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    difficulties in developing, staffing and simultaneously managing
    a foreign operation as a result of distance, language and
    cultural differences;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    longer customer payment cycles;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    currency exchange rate fluctuations;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    political or social unrest or economic instability;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    unanticipated changes in laws or regulations;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    severe natural disasters, such as the recent earthquake and
    tsunami in Japan;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    potentially adverse tax consequences.
</TD>
</TR>

</TABLE>
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    One or more of these factors could harm our Japan operations and
    consequently, could harm our overall operating results.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">If we
    are unable to adapt or expand our existing technology
    infrastructure to accommodate greater traffic or additional
    customer requirements, our business may be harmed.</FONT></I></B>
</DIV>

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    Our Baidu.com website regularly serves a large number of users
    and customers and delivers a large number of daily page views.
    Our technology infrastructure is highly complex and may not
    provide satisfactory service in the future, especially as the
    number of customers using our P4P services increases. We may be
    required to upgrade our technology infrastructure to keep up
    with the increasing traffic on our websites, such as increasing
    the capacity of our hardware servers and the sophistication of
    our software. If we fail to adapt our technology infrastructure
    to accommodate greater traffic or customer requirements, our
    users and customers may become dissatisfied with our services
    and switch to our competitors&#146; websites, which could harm
    our business.
</DIV>

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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">If we
    fail to detect fraudulent click-throughs, we could lose the
    confidence of our customers and our revenues could
    decline.</FONT></I></B>
</DIV>

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    We are exposed to the risk of click-through fraud on our paid
    search results. Click-through fraud occurs when a person clicks
    paid search results for a reason other than to view the
    underlying content of search results. If we find evidence of
    past fraudulent clicks, we may have to issue refunds to our
    customers. If we fail to detect fraudulent clicks or otherwise
    are unable to prevent this fraudulent activity, the affected
    customers may experience a reduced return on their investment in
    our online marketing services and lose confidence in the
    integrity of our systems. If this happens, we may be unable to
    retain existing customers and attract new customers for our
    online marketing services, and our online marketing revenues
    could decline. In addition, affected customers may also file
    legal actions against us claiming that we have over-charged or
    failed to refund them. Any such claims or similar claims,
    regardless of their merits, could be time-consuming and costly
    for us to defend against and could also adversely affect our
    brand image and our customers&#146; confidence in the integrity
    of our systems.
</DIV>

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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    successful operation of our business depends upon the
    performance and reliability of the Internet infrastructure and
    fixed telecommunications networks in China.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

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    Our business depends on the performance and reliability of the
    Internet infrastructure in China. Almost all access to the
    Internet is maintained through state-owned telecommunication
    operators under the administrative control and regulatory
    supervision of the Ministry of Industry and Information
    Technology (or its predecessor, the Ministry of Information
    Industry, before its formal establishment in 2008), or the MIIT.
    In addition, the national networks in China are connected to the
    Internet through international gateways controlled by the PRC
    government. These international gateways are the only channels
    through which a domestic user can connect to the Internet. We
    cannot assure you that a more sophisticated Internet
    infrastructure will be developed in China. We may not have
    access to alternative networks in the event of disruptions,
    failures or other problems with China&#146;s Internet
    infrastructure. In addition, the Internet infrastructure in
    China may not support the demands associated with continued
    growth in Internet usage.
</DIV>

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    We also rely primarily on China Telecommunications Corporation,
    or China Telecom, and China United Network Communications Group
    Company Limited, or China Unicom, to provide us with data
    communications capacity primarily through local
    telecommunications lines and Internet data centers to host our
    servers. We have entered into contracts with various local
    branches or subsidiaries of China Telecom and China Unicom to
    obtain data communications capacity. We have limited access to
    alternative services in the event of disruptions, failures or
    other problems with the fixed telecommunications networks of
    China Telecom and China Unicom, or if these companies otherwise
    fail to provide such services. In 2009, due to connection
    failures at a China Telecom Internet data center that hosted our
    servers, we were unable to provide service for a total of
    approximately eight hours. Any unscheduled service interruption
    could damage our reputation and result in a decrease in our
    revenues. Furthermore, we have no control over the costs of the
    services provided by China Telecom and China Unicom. If the
    prices that we pay for telecommunications and Internet services
    rise significantly, our gross margins could be adversely
    affected. In addition, if Internet access fees or other charges
    to Internet users increase, our user traffic may decrease, which
    in turn may harm our revenues.
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    <B><I><FONT style="font-family: 'Times New Roman', Times">Concerns
    about the security of electronic commerce transactions and
    confidentiality of information on the Internet may reduce use of
    our network and impede our growth.</FONT></I></B>
</DIV>

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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A significant barrier to electronic commerce and communications
    over the Internet in general has been a public concern over
    security and privacy, including the transmission of confidential
    information. If these concerns are not adequately addressed,
    they may inhibit the growth of the Internet and other online
    services generally, especially as a means of conducting
    commercial transactions. If a well-publicized Internet breach of
    security were to occur, general Internet usage could decline,
    which could reduce traffic to our websites and impede our growth.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">If we
    fail to maintain an effective system of internal control over
    financial reporting, we may lose investor confidence in the
    reliability of our financial statements.</FONT></I></B>
</DIV>

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    We are subject to reporting obligations under the
    U.S.&#160;securities laws. The SEC, as required by
    Section&#160;404 of the Sarbanes-Oxley Act of 2002, adopted
    rules requiring every public company to include a management
    report on such company&#146;s internal control over financial
    reporting in its annual report, which contains management&#146;s
    assessment of the effectiveness of our internal control over
    financial reporting. In addition, an independent registered
    public accounting firm must attest to and report on the
    effectiveness of our internal control over financial reporting.
    We have been subject to these requirements since the fiscal year
    ended December&#160;31, 2006.
</DIV>

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    Our management has concluded that our internal control over
    financial reporting is effective as of December&#160;31, 2010.
    See &#147;Item&#160;15. Control and Procedures.&#148; Our
    independent registered public accounting firm has issued an
    attestation report, which has concluded that our internal
    control over financial reporting is effective in all material
    aspects. However, if we fail to maintain effective internal
    control over financial reporting in the future, our management
    and our independent registered public accounting firm may not be
    able to conclude that we have effective internal control over
    financial reporting at a reasonable assurance level. This could
    in turn result in the loss of investor confidence in the
    reliability of our financial statements and negatively impact
    the trading price of our ADSs. Furthermore, we have incurred and
    anticipate that we will continue to incur considerable costs,
    management time and other resources in an effort to comply with
    Section&#160;404 and other requirements of the Sarbanes-Oxley
    Act.
</DIV>

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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We
    have limited business insurance coverage.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The insurance industry in China is still at a relatively early
    stage of development. Insurance companies in China offer limited
    business insurance products. We do not have any business
    liability or disruption insurance coverage for our operations in
    China. Any business disruption may result in our incurring
    substantial costs and the diversion of our resources.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We
    face risks related to health epidemics and other
    outbreaks.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our business could be adversely affected by the effects of avian
    influenza, severe acute respiratory syndrome, or SARS, or
    another epidemic or outbreak. In April 2009, a new strain of
    influenza A virus subtype H1N1, commonly referred to as
    &#147;swine flu,&#148; was first discovered in North America and
    quickly spread to other parts of the world, including China. In
    early June 2009, the World Health Organization declared the
    outbreak to be a pandemic, while noting that most of the
    illnesses were of moderate severity. The PRC Ministry of Health
    subsequently reported several hundred deaths caused by the
    influenza A (H1N1). Any outbreaks of avian influenza, SARS, the
    influenza A (H1N1) or other adverse public health developments
    in China may have a material adverse effect on our business
    operations. For instance, health or other government regulations
    adopted in response to an epidemic or outbreak may require
    temporary closure of Internet cafes, where many users access our
    websites, or of our offices. Such closures would severely
    disrupt our business operations and adversely affect our results
    of operations.
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    <B><FONT style="font-family: 'Times New Roman', Times">Risks
    Related to Our Corporate Structure</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">PRC
    laws and regulations governing our businesses and the validity
    of certain of our contractual arrangements are uncertain. If we
    are found to be in violation, we could be subject to sanctions.
    In addition, changes in such PRC laws and regulations or changes
    in interpretations thereof may materially and adversely affect
    our business.</FONT></I></B>
</DIV>

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    There are substantial uncertainties regarding the interpretation
    and application of PRC laws and regulations, including, but not
    limited to, the laws and regulations governing our business, or
    the enforcement and performance of our contractual arrangements
    with our affiliated Chinese entities, namely, Beijing Baidu
    Netcom Science Technology Co., Ltd., or Baidu Netcom, Beijing
    Perusal Technology Co., Ltd., or Beijing Perusal, Beijing
    BaiduPay Science and Technology Co., Ltd., or BaiduPay, Baidu HR
    Consulting (Shanghai), Co., Ltd. or Baidu HR, and their
    respective shareholders. We and our PRC subsidiaries, Baidu
    Online Network Technology (Beijing) Co., Ltd., or Baidu Online,
    Baidu (China) Co., Ltd., or Baidu China, Baidu.com Times
    Technology (Beijing) Co. Ltd., or Baidu Times and Baidu
    International Technology (Shenzhen) Co., Ltd., or Baidu
    International, are considered foreign persons or
    foreign-invested enterprises under PRC foreign investment
    related laws. As a result, we and our PRC subsidiaries are
    subject to PRC legal restrictions on foreign ownership of
    Internet, online advertising and employment agency businesses.
    These laws and regulations are relatively new and may be subject
    to change, and their official interpretation and enforcement may
    involve substantial uncertainty. New laws and regulations that
    affect existing and proposed future businesses may also be
    applied retroactively.
</DIV>

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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The PRC government has broad discretion in determining penalties
    for violations of laws and regulations, including levying fines,
    revoking business and other licenses and requiring actions
    necessary for compliance. We cannot predict the effect of the
    interpretation of existing or new PRC laws or regulations on our
    businesses. We cannot assure you that our current ownership and
    operating structure would not be found in violation of any
    current or future PRC laws or regulations. As a result, we may
    be subject to sanctions, including fines, and could be required
    to restructure our operations or cease to provide certain
    services. Any of these or similar occurrences could
    significantly disrupt our business operations or restrict us
    from conducting a substantial portion of our business
    operations, which could materially and adversely affect our
    business, financial condition and results of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">If the
    PRC government were to classify P4P services as a form of online
    advertising or as part of Internet content provider services, we
    may have to conduct our P4P business through Baidu Netcom, which
    would increase our effective tax rate, and we might be subject
    to sanctions and required to pay delinquent taxes.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    PRC laws and regulations and administrative authorities
    currently do not classify P4P services as a form of online
    advertising or as part of ICP services requiring an ICP license.
    We conduct our P4P business through our subsidiaries in the PRC,
    none of which has the qualification to operate online
    advertising business or holds an ICP license. However, we cannot
    assure you that the PRC government will not classify P4P
    services as a form of online advertising or as part of ICP
    services in the future. If new regulations characterize P4P
    services as a form of online advertising or as part of ICP
    services, we may have to conduct our P4P business through Baidu
    Netcom, which is qualified to operate online advertising
    business and holds an ICP license. This would increase our
    consolidated effective tax rate for two reasons. First,
    advertising revenues generated by Baidu Netcom are subject to a
    3% construction fee for culture undertakings in addition to the
    5% business tax. Second, Baidu Netcom is currently subject to a
    25% enterprise income tax rate, as compared to the lower
    preferential enterprise income tax rates that our PRC
    subsidiaries are subject to as of the date of this annual
    report. Baidu Netcom has applied for the status of &#147;High
    and New Technology Enterprise&#148;, which, if approved, may
    reduce the enterprise income tax rate to 15%. See
    &#147;Item&#160;5.A. Operating and Financial Review and
    Prospects&#160;&#151; Operating Results&#160;&#151;
    Taxation&#148; for more information on PRC business and
    enterprise income tax as applicable to our subsidiaries and
    affiliated entities in the PRC. Moreover, if the change in
    classification of P4P services were to be retroactively applied,
    we might be subject to sanctions, including payment of
    delinquent taxes and fines. In addition, the classification of
    P4P services as a form of online advertising could subject us to
    an obligation to examine the content of listings of our P4P
    customers on our websites and the associated risks. See
    &#147;&#151;&#160;Risks Related to Our Businesses&#160;&#151; We
    may be subject to claims based on the content found on our
    websites or the results in our paid search listings.&#148; Such
    examinations could be burdensome and increase our operating
    costs and expenses. Any change in the classification of P4P by
    the PRC
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    government may significantly disrupt our operations and
    materially and adversely affect our business, results of
    operations and financial conditions.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">In
    order to comply with PRC laws and regulations limiting foreign
    ownership of Internet, online advertising and employment agency
    businesses, we conduct our ICP, online advertising and
    employment agency businesses through our consolidated affiliated
    entities in China by means of contractual arrangements. If the
    PRC government determines that these contractual arrangements do
    not comply with applicable regulations, our business could be
    adversely affected.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The PRC government restricts foreign investment in Internet,
    online advertising and employment agency businesses.
    Accordingly, we operate our websites and our online advertising
    business in China through four consolidated affiliated entities
    in China. Three of these entities, Baidu Netcom, Beijing Perusal
    and Baidu HR, are each owned by individuals designated by us.
    The other consolidated affiliated entity, BaiduPay, is owned by
    Baidu Netcom and an individual designated by us. All of the
    individual shareholders of these entities are PRC citizens. We
    have contractual arrangements with our consolidated affiliated
    entities and their individual shareholders that allow us to
    substantially control these entities. We cannot assure you,
    however, that we will be able to enforce these contracts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Although we believe we comply with current PRC regulations, we
    cannot assure you that the PRC government would agree that these
    operating arrangements comply with PRC licensing, registration
    or other regulatory requirements, with existing policies or with
    requirements or policies that may be adopted in the future. If
    the PRC government determines that we do not comply with
    applicable law, it could revoke our business and operating
    licenses, require us to discontinue or restrict our operations,
    restrict our right to collect revenues, block our websites,
    require us to restructure our operations, impose additional
    conditions or requirements with which we may not be able to
    comply, impose restrictions on our business operations or on our
    customers, or take other regulatory or enforcement actions
    against us that could be harmful to our business.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    contractual arrangements with our consolidated affiliated
    entities in China and their individual shareholders may not be
    as effective in providing control over these consolidated
    affiliated entities as direct ownership.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Since PRC law restricts foreign equity ownership in Internet and
    online advertising companies in China, we operate our ICP,
    online advertising and employment agency businesses through our
    consolidated affiliated entities in China. We have no equity
    ownership interest in any of these entities and must rely on
    contractual arrangements to control and operate such businesses.
    These contractual arrangements may not be as effective in
    providing control over these consolidated affiliated entities as
    direct ownership. For example, these entities could fail to take
    actions required for our business or fail to maintain our
    websites despite their contractual obligations to do so. If they
    fail to perform their obligations under their respective
    agreements with us, we may have to rely on legal remedies under
    PRC law, which may not be effective. In addition, we cannot
    assure you that any of their respective individual shareholders
    would always act in our best interests.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    contractual arrangements with our consolidated affiliated
    entities in China may result in adverse tax consequences to
    us.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As a result of our corporate structure and the contractual
    arrangements between Baidu Online and each of our consolidated
    affiliated entities in China, we are effectively subject to the
    5% PRC business tax on both revenues generated by our
    consolidated affiliated entities&#146; operations in China and
    revenues derived from Baidu Online&#146;s contractual
    arrangements with these consolidated affiliated entities.
    Moreover, we would be subject to adverse tax consequences if the
    PRC tax authorities were to determine that the contracts between
    Baidu Online and these consolidated affiliated entities were not
    on an arm&#146;s-length basis and therefore constituted a
    favorable transfer pricing. Under the new PRC Enterprise Income
    Tax Law, which became effective on January&#160;1, 2008, an
    enterprise must submit its annual tax return together with
    information on related party transactions to the tax
    authorities. The tax authorities may impose reasonable
    adjustments on taxation if they have identified any related
    party transactions that are inconsistent with arm&#146;s-length
    principles. For example, the PRC tax authorities could request
    that our consolidated affiliated entities adjust their taxable
    income upward for PRC tax purposes. Such a pricing adjustment
</DIV>
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    could adversely affect us by increasing our consolidated
    affiliated entities&#146; tax expenses without reducing Baidu
    Online&#146;s tax expenses, which could subject our consolidated
    affiliated entities to interest due on late payments and other
    penalties for under-payment of taxes.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We may
    have exposure to greater than anticipated tax
    liabilities.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We are subject to income tax, business tax and other taxes in
    many provinces and cities in China and our tax structure is
    subject to review by various local tax authorities. The
    determination of our provision for income tax and other tax
    liabilities requires significant judgment. In the ordinary
    course of our business, there are many transactions and
    calculations where the ultimate tax determination is uncertain.
    Although we believe our estimates are reasonable, the ultimate
    decisions by the relevant tax authorities may differ from the
    amounts recorded in our financial statements and may materially
    affect our financial results in the period or periods for which
    such determination is made.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    principal shareholder of Baidu Netcom has potential conflicts of
    interest with us, which may adversely affect our
    business.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Robin Yanhong Li, our chairman and chief executive officer, is
    also the principal shareholder of Baidu Netcom. Conflicts of
    interests between his duties to our company and Baidu Netcom may
    arise. As Mr.&#160;Li is a director and executive officer of our
    company, he has a duty of loyalty and care to us under Cayman
    Islands law when there are any potential conflicts of interests
    between our company and Baidu Netcom. Additionally, Mr.&#160;Li
    has executed an irrevocable power of attorney to appoint the
    individual designated by us to be his attorney-in-fact to vote
    on his behalf on all Baidu Netcom matters requiring shareholder
    approval. We cannot assure you, however, that when conflicts of
    interest arise, Mr.&#160;Li will act completely in our interests
    or that conflicts of interests will be resolved in our favor. In
    addition, Mr.&#160;Li could violate his employment agreement
    with us or his legal duties by diverting business opportunities
    from us to others. If we cannot resolve any conflicts of
    interest between us and Mr.&#160;Li, we would have to rely on
    legal proceedings, which could be expensive, time-consuming and
    result in the disruption of our business.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We may
    be unable to collect long-term loans to the shareholders of our
    consolidated affiliated entities in China.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of the date of this annual report, we have made long-term
    loans in an aggregate principal amount of RMB160.0&#160;million
    (US$24.2&#160;million) to the individual shareholders of our
    consolidated affiliated entities. We extended these loans to
    enable the shareholders to fund the initial capitalization of
    these entities and, in the case of Baidu Netcom, subsequent
    increases in its registered capital. As of the date of this
    annual report, all of the registered capital of our consolidated
    affiliated entities in China has been fully funded. We may in
    the future provide additional loans to the individual
    shareholders of our consolidated affiliated entities in China in
    connection with any increase in their capitalization to the
    extent necessary and permissible under applicable law. Our
    ability to ultimately collect these loans will depend on the
    profitability of these consolidated affiliated entities and
    their operational needs, which are uncertain.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Risks
    Related to Doing Business in China</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Adverse
    changes in economic and political policies of the PRC government
    could have a material adverse effect on the overall economic
    growth of China, which could adversely affect our
    business.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Most of our business operations are conducted in China.
    Accordingly, our results of operations, financial condition and
    prospects are affected by economic, political and legal
    developments in China. China&#146;s economy differs from the
    economies of most developed countries in many respects,
    including with respect to the amount of government involvement,
    level of development, growth rate, control of foreign exchange
    and allocation of resources. While the PRC economy has
    experienced significant growth in the past three decades, growth
    has been uneven across different regions and among various
    economic sectors of China. The PRC government has implemented
    various measures to encourage economic development and guide the
    allocation of resources. Some of these measures benefit the
    overall PRC economy, but may also have a negative effect on us.
    For example, our
</DIV>
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    financial condition and results of operations may be adversely
    affected by government control over capital investments or
    changes in tax regulations that are applicable to us. Measures
    to control the pace of economic growth may cause a decrease in
    the level of economic activity in China, which in turn could
    adversely affect our results of operations and financial
    condition. In addition, stimulus measures designed to boost the
    Chinese economy during the recent global financial crisis may
    contribute to higher inflation, which could adversely affect our
    results of operations and financial condition. For example,
    certain operating costs and expenses, such as employee
    compensation and office operating expenses, may increase as a
    result of higher inflation. Additionally, because a substantial
    portion of our assets consists of cash and cash equivalents and
    short-term investments, high inflation could significantly
    reduce the value and purchasing power of these assets.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Uncertainties
    with respect to the PRC legal system could adversely affect
    us.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We conduct our business primarily through our subsidiaries and
    consolidated affiliated entities in China. Our operations in
    China are governed by PRC laws and regulations. Our subsidiaries
    are generally subject to laws and regulations applicable to
    foreign investments in China and, in particular, laws applicable
    to wholly foreign-owned enterprises. The PRC legal system is
    based on written statutes. Prior court decisions may be cited
    for reference but have limited precedential value.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    PRC legislation and regulations have significantly enhanced the
    protections afforded to various forms of foreign investments in
    China for the past three decades. However, China has not
    developed a fully integrated legal system and recently-enacted
    laws and regulations may not sufficiently cover all aspects of
    economic activities in China. In particular, because these laws
    and regulations are relatively new, and because of the limited
    volume of published decisions and their nonbinding nature, the
    interpretation and enforcement of these laws and regulations
    involve uncertainties. For example, China enacted the
    Anti-Monopoly Law, which became effective on August&#160;1,
    2008. Because the Anti-Monopoly Law and the related regulations
    are still new, and there have been very few court rulings and no
    judicial or administrative interpretations on certain key
    concepts used in the law, it is uncertain how the implementation
    and enforcement of the Anti-Monopoly Law and the related
    regulations would affect our business. Another example would be
    the Tort Liability Law that became effective on July&#160;1,
    2010. In accordance with the Tort Liability Law, where an
    Internet service provider is informed or knows that an Internet
    user is infringing other persons&#146; rights and interests
    through its Internet service but fails to take necessary
    actions, it shall be jointly and severally liable with the
    Internet user as to the damages suffered by the right holders as
    a result of the infringing activity known to the Internet
    service provider. Since the Tort Liability Law was newly
    enacted, the interpretation of its applicability and
    enforceability on Internet search providers remain uncertain,
    thus we are not sure how it would affect our business.
    Furthermore, the PRC legal system is based in part on government
    policies and internal rules, some of which are not published on
    a timely basis or at all. As a result, we may not be aware of
    our violation of these policies and rules until some time after
    the violation. In addition, any litigation in China may be
    protracted and result in substantial costs and diversion of
    resources and management attention.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We may
    be adversely affected by the complexity, uncertainties and
    changes in PRC regulation of Internet business and
    companies.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The PRC government extensively regulates the Internet industry,
    including foreign ownership of, and the licensing and permit
    requirements pertaining to, companies in the Internet industry.
    These Internet-related laws and regulations are relatively new
    and evolving, and their interpretation and enforcement involve
    significant uncertainty. As a result, in certain circumstances
    it may be difficult to determine what actions or omissions may
    be deemed to be violations of applicable laws and regulations.
    Issues, risks and uncertainties relating to PRC government
    regulation of the Internet industry include, but are not limited
    to, the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

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    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    We only have contractual control over our websites. We do not
    own the websites due to the restriction of foreign investment in
    businesses providing value-added telecommunication services in
    China, including online information services.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    There are uncertainties relating to the regulation of the
    Internet business in China, including evolving licensing
    practices. This means that permits, licenses or operations at
    some of our companies may be subject to challenge, or we may not
    be able to obtain or renew certain permits or licenses,
    including without
</TD>
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    <TD width="94%"></TD>
</TR>

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    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    limitation an Internet news license, which is issued by the
    State Council News Office, an Internet culture business permit,
    which is issued by the Ministry of Culture, an audio/video
    program transmission license, which is issued by the State
    Administration of Radio, Film and Television, an Internet
    publication business license, which is issued by the General
    Administration of Press and Publication, an online game virtual
    currency issuance or trading license, which is issued by the
    Ministry of Culture, and a surveying and mapping qualification
    certificate for Internet map services, which is issued by the
    State Bureau of Surveying and Mapping. Failure to obtain or
    renew permits and license necessary for our operations may
    significantly disrupt our business, or subject us to sanctions,
    requirements to increase capital or other conditions or
    enforcement, or compromise enforceability of related contractual
    arrangements, or have other harmful effects on us.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    New laws and regulations may be promulgated that will regulate
    Internet activities, including online advertising and online
    payment. Other aspects of our online operations may be regulated
    in the future. If these new laws and regulations are
    promulgated, additional licenses may be required for our online
    operations. If our operations do not comply with these new
    regulations at the time they become effective, or if we fail to
    obtain any licenses required under these new laws and
    regulations, we could be subject to penalties.
</TD>
</TR>

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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In July 2006, the MIIT issued the Notice of the Ministry of
    Information Industry on Intensifying the Administration of
    Foreign Investment in Value-added Telecommunications Services.
    This notice prohibits domestic telecommunication services
    providers from leasing, transferring or selling
    telecommunications business operating licenses to any foreign
    investor in any form, or providing any resources, sites or
    facilities to any foreign investor for their illegal operation
    of a telecommunications business in China. According to this
    notice, either the holder of a value-added telecommunication
    business operating license or its shareholders must directly own
    the domain names and trademarks used by such license holders in
    their provision of value-added telecommunication services. The
    notice also requires each license holder to have the necessary
    facilities, including servers, for its approved business
    operations and to maintain such facilities in the regions
    covered by its license.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu Netcom, our PRC affiliated entity that holds the ICP
    license necessary to conduct our business in China, received a
    letter from the MIIT requiring self-assessment and responded
    timely to the letter. In order to comply with the notice
    described above, we have transferred certain domain names
    primarily used in our business to Baidu Netcom, Beijing Perusal
    and Baidu HR, respectively. In addition, we are in the process
    of transferring certain trademarks, including pending trademark
    applications made by Baidu Online, to Baidu Netcom, Beijing
    Perusal and Baidu HR, respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The GAPP Notice published on September&#160;28, 2009 restates
    the general principle set forth in recently promulgated
    regulations that foreign investment is not permitted in Internet
    game operating businesses in China. The GAPP Notice prohibits
    foreign investors from participating in Internet game operating
    businesses via wholly owned, equity joint venture or cooperative
    joint venture investments in China, and from controlling and
    participating in such businesses directly or indirectly through
    contractual or technical support arrangements. We offer online
    games provided by our game operator partners on our website. If
    the past or current ownership structures, contractual
    arrangements and businesses of our company, Baidu Netcom is
    found to be in violation of any existing or future PRC laws or
    regulations, including the MII Notice and the GAPP Notice, the
    relevant regulatory authorities would have broad discretion in
    dealing with such violations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As we enter into new businesses, we may encounter additional
    regulatory uncertainties. For example, it remains unclear
    whether the provision of online payment services by BaiduPay
    will require BaiduPay to apply for a value-added
    telecommunications business operating license for &#147;online
    data processing and transaction processing businesses&#148; as
    provided in the Catalog of Telecommunications Businesses
    promulgated by the MIIT.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The People&#146;s Bank of China published Measures Concerning
    Payment Services by Non-financial Institutions, or the Payment
    Measures, on June&#160;14, 2010, which took effective from
    September&#160;1, 2010 and its implementation rules on
    December&#160;1, 2010, which took effect on December&#160;1,
    2010. According to the Payment Measures and its implantation
    rules, non-financial institutions that have been providing
    monetary transfer services as an intermediary between payees and
    payers, including online payment, issuance and acceptance of
    prepaid card or bank card, and other payment services as
    specified by the People&#146;s Bank of China, shall be required
    to obtain a license from the
</DIV>
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    People&#146;s Bank of China prior to September&#160;1, 2011, in
    order to continue providing monetary transfer services. It may
    be necessary for us to obtain such license to engage in our
    online payment business. We are in the process of applying for
    the license, but we cannot assure you that we will be able to
    obtain it before September&#160;1, 2011, or at all.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On April&#160;16, 2009, the People&#146;s Bank of China issued a
    notice regarding the payment and settlement business carried out
    by non-financial institutions, or the 2009 PBOC No.&#160;7
    Notice. The 2009 PBOC Notice requires non-financial institutions
    established before April&#160;16, 2009 engaging in payment and
    settlement business to register with the People&#146;s Bank of
    China before July&#160;31, 2009. According to the 2009 PBOC
    Notice, such registration shall not be interpreted as a
    &#147;permit&#148; granted by the People&#146;s Bank of China.
    Rather, such registration serves the purposes of providing a
    basis for future policy making by the authorities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2007, the Standing Committee of Beijing Municipal
    People&#146;s Congress adopted Beijing Municipal Regulations on
    Promotion of Informatization, which provide that any individual
    or enterprise that conducts business operations through the
    Internet shall obtain a business license
    <FONT style="white-space: nowrap">and/or</FONT> other
    necessary licenses prior to operation. The operator of an online
    marketplace shall be responsible for checking such individual or
    enterprise&#146;s licenses. In July 2008, the Beijing
    Administration for Industry and Commerce promulgated certain
    rules for implementing the above-mentioned regulation. According
    to these rules, any individual or enterprise failing to obtain a
    business license may be prohibited from doing business on an
    <FONT style="white-space: nowrap">e-commerce</FONT>
    marketplace operating in Beijing, such as Baidu Youa, and
    violation of these rules may lead to penalties on either the
    individual/enterprise or the operator of the
    <FONT style="white-space: nowrap">e-commerce</FONT>
    marketplace. Substantial uncertainties exist in terms of the
    implementation of these rules, and there are very few public
    reports regarding actions taken by the Beijing Administration
    for Industry and Commerce against any violators in this regard.
    We cannot predict to what extent these rules will affect our
    business operations or future strategy.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On June&#160;3, 2010, the Ministry of Culture issued the Interim
    Regulations for the Administration of Online Games, or the
    Interim Administration of Online Games, which took effect on
    August&#160;1, 2010. This regulation applies to business
    activities relating to online game development and operation,
    and virtual currencies issuance and trading. Pursuant to this
    regulation, all imported online games shall be subject to the
    approval of the Ministry of Culture and all domestic online
    games shall be filed with the Ministry of Culture within thirty
    days after the operation of such domestic online games. This
    regulation also provides that the business entities engaged in
    the issuance or trading of virtual currencies for online games
    are required to obtain the Online Culture Operating Permit,
    which specifies the corresponding business scope, prior to their
    online game operation. We offer online games provided by our
    game operator partners and issue online game virtual currencies
    on our website. Baidu Netcom has obtained the Online Culture
    Business Permit for issuing online game virtual currency.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The interpretation and application of existing PRC laws,
    regulations and policies and possible new laws, regulations or
    policies relating to the Internet industry have created
    substantial uncertainties regarding the legality of existing and
    future foreign investments in, and the businesses and activities
    of, Internet businesses in China, including our business.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">A
    notice issued by the PRC Ministry of Culture in August
    2009&#160;may significantly affect our MP3 search
    services.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On August&#160;26, 2009, the PRC Ministry of Culture promulgated
    the Notice on Strengthening and Improving the Content Review of
    Online Music, which is dated August&#160;18, 2009. Among other
    things, this notice provides that only &#147;Internet culture
    operating entities&#148; approved by the Ministry of Culture may
    engage in the production, release, dissemination (including
    providing direct links to music products) and importation of
    online music products. We hold an Internet culture business
    permit granted by the Ministry of Culture, which allows us to
    engage in &#147;Internet culture activities&#148; as defined in
    the relevant regulations promulgated by the Ministry of Culture.
    See &#147;Item&#160;4.B. Information on the Company&#160;&#151;
    Business Overview&#160;&#151; Regulation&#160;&#151; Regulations
    on Internet Culture Activities.&#148; However, we cannot assure
    you that the third-party music websites that our MP3 search
    services link to are operated by Internet culture operating
    entities approved by the Ministry of Culture. If the enforcement
    of this notice leads to the closure of a large number of music
    websites in China, the experience of the users of our MP3 search
    services could be adversely affected, which could in turn
    negatively affect our traffic. According to an interpretation of
    this notice subsequently posted on the Ministry of
    Culture&#146;s website, entities that provide direct
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    links to online music products must ensure that music products
    disseminated by them in such manner have passed the content
    review by the Ministry of Culture. It remains unclear how
    certain aspects of this notice will be implemented. If we are
    deemed by the Ministry of Culture to have failed to fully comply
    with the requirements of this notice, we could be subject to
    administrative penalties, including an order to stop providing
    links to certain music products, fines, or confiscation of
    income derived from activities deemed in violation of the
    notice. Any of these occurrences could materially and adversely
    affect our business and results of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulation
    and censorship of information disseminated over the Internet in
    China may adversely affect our business and subject us to
    liability for information displayed on or linked to our
    websites.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The PRC government has adopted regulations governing Internet
    access and the distribution of news and other information over
    the Internet. Under these regulations, Internet content
    providers and Internet publishers are prohibited from posting or
    displaying over the Internet content that, among other things,
    violates PRC laws and regulations, impairs the national dignity
    of China, or is reactionary, obscene, superstitious, fraudulent
    or defamatory. Failure to comply with these requirements may
    result in the revocation of licenses to provide Internet content
    and other licenses and the closure of the concerned websites. In
    the past, failure to comply with such requirements has resulted
    in the closure of certain websites. The website operator may
    also be held liable for such censored information displayed on
    or linked to the website.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, the MIIT has published regulations that subject
    website operators to potential liability for content displayed
    on their websites and the actions of users and others using
    their systems, including liability for violations of PRC laws
    and regulations prohibiting the dissemination of content deemed
    to be socially destabilizing. The Ministry of Public Security
    has the authority to order any local Internet service provider
    to block any Internet website at its sole discretion. From time
    to time, the Ministry of Public Security has stopped the
    dissemination over the Internet of information which it believes
    to be socially destabilizing. The State Secrecy Bureau is also
    authorized to block any website it deems to be leaking state
    secrets or failing to meet the relevant regulations relating to
    the protection of State secrets in the dissemination of online
    information. Furthermore, we are required to report any
    suspicious content to relevant governmental authorities, and to
    undergo computer security inspections. If we fail to implement
    the relevant safeguards against security breaches, our websites
    may be shut down and our business and ICP licenses may be
    revoked. In addition, Internet companies which provide bulletin
    board systems, chat rooms or similar services must apply for
    specific approval from relevant authorities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Although we attempt to monitor the content in our search results
    and on our online communities such as Baidu Post Bar, we are not
    able to control or restrict the content of other Internet
    content providers linked to or accessible through our websites,
    or content generated or placed on our Baidu Post Bar message
    boards or our other online communities by our users. To the
    extent that PRC regulatory authorities find any content
    displayed on our websites objectionable, they may require us to
    limit or eliminate the dissemination of such information on our
    websites. If third-party websites linked to or accessible
    through our websites operate unlawful activities such as online
    gambling on their websites, PRC regulatory authorities may
    require us to report such unlawful activities to relevant
    authorities and to remove the links to such websites, or they
    may suspend or shut down the operation of such websites. PRC
    regulatory authorities may also temporarily block access to
    certain websites for a period of time for reasons beyond our
    control. Any of these actions may reduce our user traffic and
    adversely affect our business. In addition, we may be subject to
    penalties for violations of those regulations arising from
    information displayed on or linked to our websites, including a
    suspension or shutdown of our online operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Intensified
    government regulation of Internet cafes could restrict our
    ability to maintain or increase user traffic to our
    websites.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The PRC government has tightened its regulation of Internet
    cafes in recent years. In particular, a large number of
    unlicensed Internet cafes have been closed. In addition, the PRC
    government has imposed higher capital and facility requirements
    for the establishment of Internet cafes. Furthermore, the PRC
    government&#146;s policy, which encourages the development of a
    limited number of national and regional Internet cafe chains and
    discourages the establishment of independent Internet cafes, may
    slow down the growth of Internet cafes. In June 2002, the
    Ministry of Culture, together with other government authorities,
    issued a joint notice, and in February 2004, the State
    Administration for Industry and Commerce issued another notice,
    suspending the issuance of new Internet cafe
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    licenses. In May 2007, the State Administration for Industry and
    Commerce reiterated its position not to register any new
    Internet cafes in 2007. In 2008 and 2009, the Ministry of
    Culture, the State Administration for Industry and Commerce and
    other relevant government authorities, individually or jointly,
    issued several notices that provide various ways to strengthen
    the regulation of Internet cafes, including investigating and
    punishing Internet cafes that accept minors, cracking down on
    Internet cafes without sufficient and valid licenses, limiting
    the total number of Internet cafes and approving Internet cafes
    within the planning made by relevant authorities, screening
    unlawful and adverse games and websites, and improving the
    coordination of regulation over Internet cafes and online games.
    So long as Internet cafes are one of the primary venues for our
    users to access our websites, any reduction in the number, or
    any slowdown in the growth, of Internet cafes in China could
    limit our ability to maintain or increase user traffic to our
    websites.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">If our
    PRC subsidiaries Baidu Online and Baidu Times fail to maintain
    qualification as &#147;High and New&#160;Technology
    Enterprise&#148; under the PRC Enterprise Income Tax Law, or if
    our PRC subsidiary Baidu China fails to retain its 50% reduced
    rate tax holiday, or if our PRC subsidiaries declare and
    distribute dividends to their respective offshore parent
    companies, we will be required to pay more taxes, which could
    have a material adverse effect on our result of
    operations.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    According to the PRC Enterprise Income Tax Law, or the EIT Law,
    which became effective on January&#160;1, 2008, as further
    clarified by subsequent tax regulations implementing the EIT
    Law, foreign-invested enterprises and domestic enterprises are
    subject to enterprise income tax, or EIT, at a uniform rate of
    25%. The EIT rate of enterprises established before
    March&#160;16, 2007 that were eligible for preferential tax
    rates according to then effective tax laws and regulations will
    gradually transition to the uniform 25% EIT rate by
    January&#160;1, 2013. In addition, certain enterprises may still
    benefit from a preferential tax rate of 15% under the EIT Law if
    they qualify as &#147;High and New Technology Enterprises
    strongly supported by the state,&#148; subject to certain
    general factors described in the EIT Law and the related
    regulations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2008, our PRC subsidiaries Baidu Online and Baidu
    Times were designated by the Beijing Municipal Science and
    Technology Commission as &#147;High and New Technology
    Enterprise&#148; under the EIT Law. In February 2009, Baidu
    Online and Baidu Times received the High and New Technology
    Enterprise certificates jointly issued by the Beijing Municipal
    Science and Technology Commission, Beijing Finance Bureau, and
    Beijing State and Local Tax Bureaus. Therefore, Baidu Online and
    Baidu Times are entitled to enjoy a preferential tax rate of 15%
    as long as they maintain their qualification as &#147;High and
    New Technology Enterprise.&#148; If either or both of them fail
    to maintain the &#147;High and New Technology Enterprise&#148;
    qualification, their applicable EIT rate may increase to up to
    25%, which could have a material adverse effect on our results
    of operations. We cannot assure you that we will be able to
    maintain our current effective tax rate in the future.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In 2006, our PRC subsidiary Baidu China was designated as a
    &#147;software enterprise&#148; by the Shanghai Municipal
    Information Commission and was entitled to a full exemption from
    the EIT from 2006 to 2007 and a 50% reduced rate from 2008 to
    2010 based on then-effective tax laws and regulations. On
    April&#160;24, 2009, the Ministry of Finance and the State
    Administration of Taxation jointly promulgated Circular on
    Issues concerning the Implementation of Preferential Policies
    for Enterprise Income Tax, or Caishui Circular 69. According to
    Caishui Circular 69, subject to verification, a qualified
    software enterprise established prior to January&#160;1,
    2008&#160;may continue to enjoy the tax holidays previously
    granted to it as a &#147;software enterprise.&#148; Where the
    software enterprise had already started to enjoy its tax
    holidays before 2008, it may continue to enjoy the remaining tax
    holidays from 2008 until the expiration of such tax holidays.
    Therefore, Baidu China may continue to enjoy a 50% reduced EIT
    rate from 2008 to 2010. If Baidu China fails to maintain the
    qualification as a &#147;software enterprise&#148;, its
    effective EIT rate will be increased, which could adversely
    affect our results of operations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, under the EIT Law and related regulations,
    dividends, interests, rent or royalties payable by a
    foreign-invested enterprise, such as our PRC subsidiaries, to
    any of its foreign non-resident enterprise investors, and
    proceeds from the disposition of assets (after deducting the net
    value of such assets) by such foreign enterprise investor, shall
    be subject to a 10% withholding tax unless such foreign
    enterprise investor&#146;s jurisdiction of incorporation has a
    tax treaty with China that provides for a reduced rate of
    withholding tax. Undistributed profits earned by
    foreign-invested enterprises prior to January&#160;1, 2008 are
    exempted from any withholding tax. The British Virgin Islands,
    where Baidu Holdings Limited, the direct parent company of our
    PRC subsidiary Baidu Online, is
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    incorporated, does not have such a tax treaty with China. Baidu
    (Hong Kong) Limited, which directly owns our PRC subsidiaries
    Baidu China and Baidu Times, was incorporated in Hong Kong. Hong
    Kong has a tax treaty with China that provides for a 5%
    withholding tax under certain conditions. However, if Baidu
    (Hong Kong) Limited is not considered to be the beneficial owner
    of dividends paid to it by Baidu China and Baidu Times under a
    tax notice promulgated on October&#160;27, 2009, such dividends
    would be subject to withholding tax at a rate of 10%. See
    &#147;Item&#160;5.A. Operating and Financial review and
    Prospects&#160;&#151; Operating Results&#160;&#151;
    Taxation&#160;&#151; PRC Enterprise Income Tax.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our PRC subsidiaries historically have not paid dividends to us.
    If they declare and distribute dividends in the future, such
    dividend payments will be subject to withholding tax, which will
    increase our tax liability and reduce the amount of cash
    available to our company.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We may
    be deemed a PRC resident enterprise under the EIT Law, which
    could subject us to PRC taxation on our global income, and which
    may have a material adverse effect on our results of
    operations.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the EIT Law and related regulations, an enterprise
    established outside of the PRC with &#147;de facto management
    bodies&#148; within the PRC is considered a PRC resident
    enterprise and is subject to the EIT at the rate of 25% on its
    worldwide income. The related regulations define the term
    &#147;de facto management bodies&#148; as &#147;establishments
    that carry out substantial and overall management and control
    over the manufacturing and business operations, personnel,
    accounting, properties, etc. of an enterprise.&#148; The State
    Administration of Taxation issued the Notice Regarding the
    Determination of Chinese-Controlled Overseas Incorporated
    Enterprises as PRC Tax Resident Enterprises on the Basis of De
    Facto Management Bodies, or SAT Circular 82, on April&#160;22,
    2009. SAT Circular 82 provides certain specific criteria for
    determining whether the &#147;de facto management body&#148; of
    a Chinese-controlled overseas-incorporated enterprise is located
    in China. See &#147;Item&#160;5.A. Operating and Financial
    review and Prospects&#160;&#151; Operating Results&#160;&#151;
    Taxation&#160;&#151; PRC Enterprise Income Tax.&#148; Although
    SAT Circular 82 applies only to overseas registered enterprises
    controlled by PRC enterprises, not to those controlled by PRC
    individuals, the determining criteria set forth in Circular
    82&#160;may reflect the State Administration of Taxation&#146;s
    general position on how the &#147;de facto management body&#148;
    test should be applied in determining the tax resident status of
    offshore enterprises, regardless of whether they are controlled
    by PRC enterprises or individuals. If we are deemed a PRC
    resident enterprise, we may be subject to the EIT at 25% on our
    global income, except that the dividends we receive from our PRC
    subsidiaries may be exempt from the EIT to the extent such
    dividends are deemed as &#147;dividends among qualified PRC
    resident enterprises.&#148; If we are considered a resident
    enterprise and earn income other than dividends from our PRC
    subsidiaries, a 25% EIT on our global income could significantly
    increase our tax burden and materially and adversely affect our
    cash flow and profitability.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Under
    PRC tax laws, dividends payable by us and gains on the
    disposition of our shares or ADSs may be subject to PRC
    taxation.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If we are considered a PRC resident enterprise under the EIT
    Law, our shareholders and ADS holders who are deemed
    non-resident enterprises may be subject to the EIT at the rate
    of 10% upon the dividends payable by us or upon any gains
    realized from the transfer of our shares or ADSs, if such income
    is deemed derived from China, provided that (i)&#160;such
    foreign enterprise investor has no establishment or premises in
    China, or (ii)&#160;it has establishment or premises in China
    but its income derived from China has no real connection with
    such establishment or premises. If we are required under the EIT
    Law to withhold PRC income tax on our dividends payable to our
    non-PRC enterprise shareholders and ADS holders, or if any gains
    realized from the transfer of our shares or ADSs by our non-PRC
    enterprise shareholders and ADS holders are subject to the EIT,
    your investment in our shares or ADSs could be materially and
    adversely affected.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Furthermore, if we are considered a &#147;resident
    enterprise&#148; and relevant PRC tax authorities consider
    dividends we pay with respect to our ADSs or ordinary shares and
    the gains realized from the transfer of our ADSs or ordinary
    shares to be income derived from sources within the PRC, such
    dividends and gains earned by non-resident individuals may be
    subject to PRC individual income tax at a rate of 20%. If we are
    required under PRC tax laws to withhold PRC income tax on
    dividends payable to our non-PRC investors that are non-resident
    individuals or if you
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    are required to pay PRC income tax on the transfer of our
    ordinary shares or ADSs, the value of your investment in our
    ordinary shares or ADSs may be materially and adversely affected.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    subsidiaries and consolidated affiliated entities in China are
    subject to restrictions on paying dividends and making other
    payments to us.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We are a holding company incorporated in the Cayman Islands and
    do not conduct any business operations other than investing in
    our subsidiaries and affiliated entities. As a result of our
    holding company structure, we currently rely primarily on
    dividend payments from our subsidiaries in China. However, PRC
    regulations currently permit payment of dividends only out of
    accumulated profits, as determined in accordance with PRC
    accounting standards and regulations. Our subsidiaries and
    consolidated affiliated entities in China are also required to
    set aside a portion of their after-tax profits according to PRC
    accounting standards and regulations to fund certain reserve
    funds. The PRC government also imposes controls on the
    conversion of RMB into foreign currencies and the remittance of
    currencies out of China. We may experience difficulties in
    completing the administrative procedures necessary to obtain and
    remit foreign currency. See &#147;&#151;&#160;Government control
    of currency conversion may affect the value of your
    investment.&#148; Furthermore, if our subsidiaries or
    consolidated affiliated entities in China incur debt on their
    own in the future, the instruments governing the debt may
    restrict their ability to pay dividends or make other payments.
    If we or any of our subsidiaries in China are unable to receive
    all of the revenues from our operations through these
    contractual or dividend arrangements, we may be unable to pay
    dividends on our ordinary shares and ADSs.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Governmental
    control of currency conversion may affect the value of your
    investment.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The PRC government imposes controls on the convertibility of RMB
    into foreign currencies and, in certain cases, the remittance of
    currency out of China. We receive almost all of our revenues in
    RMB. Under our current structure, our income at the Cayman
    Islands holding company level will primarily be derived from
    dividend payments from our PRC subsidiaries. Shortages in the
    availability of foreign currency may restrict the ability of our
    PRC subsidiaries and consolidated affiliated entities to remit
    sufficient foreign currency to pay dividends or other payments
    to us, or otherwise satisfy their foreign currency denominated
    obligations. Under existing PRC foreign exchange regulations,
    payments of current account items, including profit
    distributions, interest payments and expenditures from
    trade-related transactions, can be made in foreign currencies
    without prior approval from the PRC State Administration of
    Foreign Exchange, or SAFE, by complying with certain procedural
    requirements. However, approval from appropriate government
    authorities is required where RMB is to be converted into
    foreign currency and remitted out of China to pay capital
    expenses such as the repayment of loans denominated in foreign
    currencies. The PRC government may also at its discretion
    restrict access in the future to foreign currencies for current
    account transactions. If the foreign exchange control system
    prevents us from obtaining sufficient foreign currency to
    satisfy our currency demands, we may not be able to pay
    dividends in foreign currencies to our shareholders, including
    holders of our ADSs.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">PRC
    regulations relating to the establishment of offshore special
    purpose companies by PRC residents and registration requirements
    for employee stock ownership plans or share option plans may
    limit our ability to inject capital into our PRC subsidiaries,
    limit our subsidiaries&#146; ability to increase their
    registered capital or distribute profits to us, or may otherwise
    adversely affect us.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    SAFE has promulgated several regulations, including SAFE
    Circular No.&#160;75, effective from November 2005, and its
    implementation rule issued in May 2007, that require PRC
    residents and PRC corporate entities to register with local
    branches of SAFE in connection with their direct or indirect
    offshore investment in an overseas special purpose vehicle, or
    SPV, for the purposes of overseas equity financing activities.
    These regulations apply to our shareholders who are PRC
    residents and may apply to any offshore acquisitions that we
    make in the future.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under these SAFE regulations, PRC residents who make, or have
    previously made, direct or indirect investments in an SPV are
    required to register those investments. In addition, any PRC
    resident who is a direct or indirect shareholder of an SPV is
    required to update the previously filed registration with the
    local branch of SAFE, with respect to that SPV, to reflect any
    material change involving its round-trip investment, capital
    variation, such as an increase or decrease in capital, transfer
    or swap of shares, merger, division, long-term equity or debt
</DIV>
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    investment or creation of any security interest. Moreover, the
    PRC subsidiaries of that SPV are required to urge the PRC
    resident shareholders to update their SAFE registration with the
    local branch of SAFE when such updates are required under
    applicable SAFE regulations. If any PRC shareholder fails to
    make the required SAFE registration or update the previously
    filed registration, the PRC subsidiaries of that SPV may be
    prohibited from distributing their profits and the proceeds from
    any reduction in capital, share transfer or liquidation, to
    their SPV parent, and the SPV may also be prohibited from
    injecting additional capital into their PRC subsidiaries.
    Moreover, failure to comply with the various SAFE registration
    requirements described above could result in liability under PRC
    laws for evasion of applicable foreign exchange restrictions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have notified holders of ordinary shares of our company whom
    we know are PRC residents to register with the local SAFE branch
    and update their registrations as required under the SAFE
    regulations described above. We are aware that Mr.&#160;Robin
    Yanhong Li, our chairman and chief executive officer and
    principal shareholder, who is a PRC resident, has registered
    with the relevant local SAFE branch. We, however, cannot provide
    any assurances that all of our shareholders who are PRC
    residents will file all applicable registrations or update
    previously filed registrations as required by these SAFE
    regulations. The failure or inability of our PRC resident
    shareholders to comply with the registration procedures set
    forth therein may subject such PRC resident shareholders to
    fines and legal sanctions, restrict our cross-border investment
    activities, or limit our PRC subsidiaries&#146; ability to
    distribute dividends to or obtain foreign exchange-dominated
    loans from our company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As it is uncertain how the SAFE regulations described above will
    be interpreted or implemented, we cannot predict how these
    regulations will affect our business operations or future
    strategy. For example, we may be subject to more stringent
    review and approval process with respect to our foreign exchange
    activities, such as remittance of dividends and foreign
    currency-denominated borrowings, which may adversely affect our
    results of operations and financial condition. In addition, if
    we decide to acquire a PRC domestic company, we cannot assure
    you that we or the owners of such company, as the case may be,
    will be able to obtain the necessary approvals or complete the
    necessary filings and registrations required by the SAFE
    regulations. This may restrict our ability to implement our
    acquisition strategy and could adversely affect our business and
    prospects.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2006, the People&#146;s Bank of China promulgated
    the Administrative Measures of Foreign Exchange Matters for
    Individuals, setting forth the respective requirements for
    foreign exchange transactions by PRC individuals under either
    the current account or the capital account. In January 2007,
    SAFE issued implementing rules for the Administrative Measures
    of Foreign Exchange Matters for Individuals, which, among other
    things, specified approval requirements for certain capital
    account transactions such as a PRC citizen&#146;s participation
    in the employee stock ownership plans or stock option plans of
    an overseas publicly listed company. On March&#160;28, 2007,
    SAFE promulgated the Application Procedure of Foreign Exchange
    Administration for Domestic Individuals Participating in
    Employee Stock Holding Plan or Stock Option Plan of
    Overseas-Listed Company, or the Stock Option Rule. Under the
    Stock Option Rule, PRC citizens who are granted stock options by
    an overseas publicly listed company are required, through a PRC
    agent or PRC subsidiary of such overseas publicly listed
    company, to register with SAFE and complete certain other
    procedures. We and our PRC employees who have been granted stock
    options are subject to these regulations. We have designated our
    PRC subsidiary Baidu Online to handle the registration and other
    procedures required by the Stock Option Rule. If we or our PRC
    optionees fail to comply with these regulations in the future,
    we or our PRC optionees and their local employers may be subject
    to fines and legal sanctions.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">A
    regulation adopted in August 2006 establishes more complex
    procedures for acquisitions conducted by foreign investors,
    which could make it more difficult for us to pursue growth
    through acquisitions.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On August&#160;8, 2006, six PRC regulatory agencies, namely, the
    PRC Ministry of Commerce, the State Assets Supervision and
    Administration Commission, the State Administration of Taxation,
    the State Administration for Industry and Commerce, the China
    Securities Regulatory Commission and SAFE, jointly adopted the
    Regulations on Mergers and Acquisitions of Domestic Enterprises
    by Foreign Investors, which became effective on
    September&#160;8, 2006 and were later amended on June&#160;22,
    2009. Among other things, this regulation established additional
    procedures and requirements that could make merger and
    acquisition activities by foreign investors more time-consuming
    and complex. We may grow our business in part by directly
    acquiring complementary businesses in China. Complying with the
    requirements of this regulation to complete such transactions
    could be time-
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    consuming, and any required approval processes, including
    obtaining approval from the Ministry of Commerce, may delay or
    inhibit our ability to complete such transactions, which could
    affect our ability to expand our business or maintain our market
    share.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Fluctuation
    in the value of the RMB may have a material adverse effect on
    your investment.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The value of the RMB against the U.S.&#160;dollar and other
    currencies may fluctuate and is affected by, among other things,
    changes in China&#146;s political and economic conditions and
    foreign exchange policies. On July&#160;21, 2005, the PRC
    government changed its decade-old policy of pegging the value of
    the RMB to the U.S.&#160;dollar. Under the revised policy, the
    RMB is permitted to fluctuate within a narrow and managed band
    against a basket of certain foreign currencies. Between
    July&#160;21, 2005 and March&#160;25, 2011, the RMB appreciated
    by approximately 26.2% against the U.S.&#160;dollar, although
    the pace of appreciation was uneven during the period. It is
    difficult to predict how the RMB exchange rates may change in
    the future.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our revenues and costs are mostly denominated in RMB, while a
    significant portion of our financial assets are denominated in
    U.S.&#160;dollars. At the Cayman Islands holding company level,
    we rely entirely on dividends and other fees paid to us by our
    subsidiaries and consolidated affiliated entities in China. Any
    significant revaluation of RMB may materially and adversely
    affect our cash flows, revenues, earnings and financial
    position, and the value of, and any dividends payable on, our
    ADSs in U.S.&#160;dollars. For example, an appreciation of RMB
    against the U.S.&#160;dollar would make any new RMB denominated
    investments or expenditures more costly to us, to the extent
    that we need to convert U.S.&#160;dollars into RMB for such
    purposes. An appreciation of RMB against the U.S.&#160;dollar
    would also result in foreign currency translation losses for
    financial reporting purposes when we translate our
    U.S.&#160;dollar denominated financial assets into RMB, as RMB
    is our reporting currency. Conversely, a significant
    depreciation of the RMB against the U.S.&#160;dollar may
    significantly reduce the U.S.&#160;dollar equivalent of our
    earnings, which in turn could adversely affect the price of our
    ADSs.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Risks
    Related to Our ADSs</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">The
    trading price of our ADSs has been volatile and may continue to
    be volatile regardless of our operating
    performance.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The trading price of our ADSs has been and may continue to be
    subject to wide fluctuations. The market price for our ADSs may
    continue to be volatile and subject to wide fluctuations in
    response to factors including the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    actual or anticipated fluctuations in our quarterly operating
    results;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in financial estimates by securities research analysts;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    conditions in Internet search and online marketing markets;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    changes in the operating performance or market valuations of
    other Internet search or Internet companies;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    announcements by us or our competitors or other Internet
    companies of new products, acquisitions, strategic partnerships,
    joint ventures or capital commitments;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    addition or departure of key personnel;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    fluctuations of exchange rates between RMB and the
    U.S.&#160;dollar;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    intellectual property litigation;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    general economic or political conditions in China or elsewhere
    in the world.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, the stock market in general, and the market prices
    for Internet-related companies and companies with operations in
    China in particular, have experienced volatility that often has
    been unrelated to the operating performance of such companies.
    In particular, the global financial crisis and the ensuing
    economic recessions in many countries have contributed and may
    continue to contribute to extreme volatility in the global stock
    markets. These broad market and industry fluctuations may
    adversely affect the price of our ADSs, regardless of our
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    operating performance. Volatility or a lack of positive
    performance in our ADS price may also adversely affect our
    ability to retain key employees, most of whom have been granted
    options or other equity incentives.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Substantial
    future sales or the perception of sales of our ADSs in the
    public market could cause the price of our ADSs to
    decline.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Sales of our ADSs in the public market, or the perception that
    these sales could occur, could cause the market price of our
    ADSs to decline. Such sales also might make it more difficult
    for us to sell equity or equity-related securities in the future
    at a time and price that we deem appropriate. If any existing
    shareholder or shareholders sell a substantial amount of ADSs,
    the prevailing market price for our ADSs could be adversely
    affected. In addition, if we pay for our future acquisitions in
    whole or in part with additionally issued ordinary shares, your
    ownership interests in our company would be diluted and this, in
    turn, could have a material adverse effect on the price of our
    ADSs.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">You
    may not have the same voting rights as the holders of our
    ordinary shares and may not receive voting materials in time to
    be able to exercise your right to vote.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Except as described in this annual report and in the deposit
    agreement, holders of our ADSs will not be able to exercise
    voting rights attached to the shares evidenced by our ADSs on an
    individual basis. Holders of our ADSs will appoint the
    depositary or its nominee as their representative to exercise
    the voting rights attached to the shares represented by the
    ADSs. You may not receive voting materials in time to instruct
    the depositary to vote, and it is possible that you, or persons
    who hold their ADSs through brokers, dealers or other third
    parties, will not have the opportunity to exercise a right to
    vote. Upon our written request, the depositary will mail to you
    a shareholder meeting notice which contains, among other things,
    a statement as to the manner in which your voting instructions
    may be given, including an express indication that such
    instructions may be given or deemed given to the depositary to
    give a discretionary proxy to a person designated by us if no
    instructions are received by the depositary from you on or
    before the response date established by the depositary. However,
    no voting instruction shall be deemed given and no such
    discretionary proxy shall be given with respect to any matter as
    to which we inform the depositary that (i)&#160;we do not wish
    such proxy given, (ii)&#160;substantial opposition exists, or
    (iii)&#160;such matter materially and adversely affects the
    rights of shareholders.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">You
    may not be able to participate in rights offerings and may
    experience dilution of your holdings as a result.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We may from time to time distribute rights to our shareholders,
    including rights to acquire our securities. Under the deposit
    agreement for the ADSs, the depositary will not offer those
    rights to ADS holders unless both the rights and the underlying
    securities to be distributed to ADS holders are either
    registered under the Securities Act of 1933, or exempt from
    registration under the Securities Act with respect to all
    holders of ADSs. We are under no obligation to file a
    registration statement with respect to any such rights or
    underlying securities or to endeavor to cause such a
    registration statement to be declared effective. In addition, we
    may not be able to take advantage of any exemptions from
    registration under the Securities Act. Accordingly, holders of
    our ADSs may be unable to participate in our rights offerings
    and may experience dilution in their holdings as a result.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">You
    may be subject to limitations on transfer of your
    ADSs.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Your ADSs are transferable on the books of the depositary.
    However, the depositary may close its transfer books at any time
    or from time to time when it deems expedient in connection with
    the performance of its duties. In addition, the depositary may
    refuse to deliver, transfer or register transfers of ADSs
    generally when our books or the books of the depositary are
    closed, or at any time if we or the depositary deems it
    advisable to do so because of any requirement of law or of any
    government or governmental body, or under any provision of the
    deposit agreement, or for any other reason.
</DIV>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">You
    may face difficulties in protecting your interests, and your
    ability to protect your rights through the U.S. federal courts
    may be limited, because we are incorporated under Cayman Islands
    law, conduct most of our operations in China and all of our
    officers reside outside the United States.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We are incorporated in the Cayman Islands, and conduct most of
    our operations in China through our wholly owned subsidiaries
    and consolidated affiliated entities in China. All of our
    officers and a majority of our directors reside outside the
    United States and some or all of the assets of those persons are
    located outside of the United States. As a result, it may not be
    possible to effect service of process within the United States
    or elsewhere outside China upon our senior executive officers,
    including with respect to matters arising under
    U.S.&#160;federal securities laws or applicable state securities
    laws.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    It may also be difficult or impossible for you to bring an
    action against us or against our directors and officers in the
    Cayman Islands or in China in the event that you believe that
    your rights have been infringed under the securities laws or
    otherwise. Even if you are successful in bringing an action of
    this kind, the laws of the Cayman Islands and of China may
    render you unable to enforce a judgment against our assets or
    the assets of our directors and officers. There is no statutory
    recognition in the Cayman Islands of judgments obtained in the
    United States, although the courts of the Cayman Islands will
    generally recognize and enforce a non-penal judgment of a
    foreign court of competent jurisdiction without retrial on the
    merits. Moreover, our PRC counsel has advised us that the PRC
    does not have treaties with the United States or many other
    countries providing for the reciprocal recognition and
    enforcement of judgment of courts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our corporate affairs are governed by our memorandum and
    articles of association and by the Companies Law (2010 Revision)
    and common law of the Cayman Islands. The rights of shareholders
    to take legal action against our directors and us, actions by
    minority shareholders and the fiduciary responsibilities of our
    directors to us under Cayman Islands law are to a large extent
    governed by the common law of the Cayman Islands. The common law
    of the Cayman Islands is derived in part from comparatively
    limited judicial precedent in the Cayman Islands as well as from
    English common law, which has persuasive, but not binding,
    authority on a court in the Cayman Islands. The rights of our
    shareholders and the fiduciary responsibilities of our directors
    under Cayman Islands law are not as clearly established as they
    would be under statutes or judicial precedents in the United
    States. In particular, the Cayman Islands has a less developed
    body of securities laws as compared to the United States, and
    provides significantly less protection to investors. In
    addition, Cayman Islands companies may not have standing to
    initiate a shareholder derivative action before the federal
    courts of the United States.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As a result of all of the above, our public shareholders may
    have more difficulty in protecting their interests through
    actions against our management, directors or major shareholders
    than would shareholders of a corporation incorporated in a
    jurisdiction in the United States.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    dual-class ordinary share structure with different voting rights
    could discourage others from pursuing any change of control
    transactions that holders of our Class&#160;A ordinary shares
    and ADSs may view as beneficial.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our ordinary shares are divided into Class&#160;A ordinary
    shares and Class&#160;B ordinary shares. Holders of Class&#160;A
    ordinary shares are entitled to one vote per share, while
    holders of Class&#160;B ordinary shares are entitled to 10 votes
    per share. We issued Class&#160;A ordinary shares represented by
    our ADSs in our initial public offering. Certain of our major
    shareholders, including our co-founder, chairman and chief
    executive officer, Robin Yanhong Li, who acquired our shares
    prior to our initial public offering, hold our Class&#160;B
    ordinary shares. Each Class&#160;B ordinary share is convertible
    into one Class&#160;A ordinary share at any time by the holder
    thereof. Class&#160;A ordinary shares are not convertible into
    Class&#160;B ordinary shares under any circumstances. Upon any
    transfer of Class&#160;B ordinary shares by a holder thereof to
    any person or entity which is not an affiliate of such holder,
    such Class&#160;B ordinary shares shall be automatically and
    immediately converted into the equal number of Class&#160;A
    ordinary shares. In addition, if at any time Robin Yanhong Li
    and his affiliates collectively own less than 5% of the total
    number of the issued and outstanding Class&#160;B ordinary
    shares, each issued and outstanding Class&#160;B ordinary share
    shall be automatically and immediately converted into one share
    of Class&#160;A ordinary share, and we shall not issue any
    Class&#160;B ordinary shares thereafter.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Due to the disparate voting powers attached to these two
    classes, certain shareholders have significant voting power over
    matters requiring shareholder approval, including election of
    directors and significant corporate transactions, such as a
    merger or sale of our company or our assets. This concentrated
    control could discourage or prevent others from pursuing any
    potential merger, takeover or other change of control
    transactions with our company, which could deprive our
    shareholders and ADS holders of an opportunity to receive a
    premium for their shares or ADSs as part of a sale of our
    company and might reduce the price of our ADSs.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Our
    articles of association contain anti-takeover provisions that
    could adversely affect the rights of holders of our ordinary
    shares and ADSs.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our articles of association include certain provisions that
    could limit the ability of others to acquire control of our
    company, and therefore may deprive the holders of our ordinary
    shares and ADSs of the opportunity to sell their shares or ADSs
    at a premium over the prevailing market price by discouraging
    third parties from seeking to obtain control of our company in a
    tender offer or similar transactions. These provisions include
    the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    A dual-class ordinary share structure.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Our board of directors has the authority, without approval by
    the shareholders, to issue up to a total of 10,000,000 preferred
    shares in one or more series. Our board of directors may
    establish the number of shares to be included in each such
    series and may fix the designations, preferences, powers and
    other rights of the shares of a series of preferred shares.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Our board of directors has the right to elect directors to fill
    a vacancy created by the increase of the board of directors or
    the resignation, death or removal of a director, which prevents
    shareholders from having the sole right to fill vacancies on our
    board of directors.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">We may
    be classified as a passive foreign investment company, which
    could result in adverse U.S. federal income tax consequence to
    U.S. Holders.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Based on the market price of the ADSs and our ordinary shares,
    the composition of our income and assets and our operations, we
    believe that we were not a &#147;passive foreign investment
    company,&#148; or PFIC, for United States federal income tax
    purposes for our taxable year ended December&#160;31, 2010.
    However, we must make a separate determination each year as to
    whether we are a PFIC (after the close of each taxable year) and
    we cannot assure you that we will not be a PFIC for our current
    taxable year ending December&#160;31, 2011 or any future taxable
    year. A
    <FONT style="white-space: nowrap">non-U.S.&#160;corporation</FONT>
    will be considered a PFIC for any taxable year if either
    (1)&#160;at least 75% of its gross income is passive income or
    (2)&#160;at least 50% of the value of its assets (based on an
    average of the quarterly values of the assets during a taxable
    year) is attributable to assets that produce or are held for the
    production of passive income. The future value of our assets is
    generally determined by reference to the market price of our
    ADSs and ordinary shares, which may fluctuate considerably. If
    we were treated as a PFIC for any taxable year during which a
    U.S.&#160;Holder held an ADS or an ordinary share, certain
    adverse U.S.&#160;federal income tax consequences could apply to
    the U.S.&#160;Holder. See &#147;Item&#160;10.E. Additional
    Information&#160;&#151; Taxation&#160;&#151; United States
    Federal Income Taxation&#160;&#151; Passive Foreign Investment
    Company.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


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<TR>
    <TD width="8%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;4.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360107'></A><B><FONT style="font-family: 'Times New Roman', Times">Information
    on the Company</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">A.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">History
    and Development of the Company</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We were incorporated in the Cayman Islands in January 2000.
    Since our inception, we have conducted our operations in China
    principally through Baidu Online, our wholly owned subsidiary in
    Beijing, China. Since June 2001, we also have conducted part of
    our operations in China through Baidu Netcom, a consolidated
    affiliated entity in Beijing, China, which holds the licenses
    and approvals necessary to operate our websites and provide
    online advertising services. In more recent years, we have
    established additional PRC subsidiaries and assisted in
    establishing additional PRC consolidated affiliated entities to
    conduct part of our operations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On August&#160;5, 2005, we listed our ADSs on The Nasdaq
    National Market (later renamed The Nasdaq Global Market) under
    the symbol &#147;BIDU.&#148; We and certain selling shareholders
    of our company completed the initial public offering of
    4,604,224 ADSs, each then representing one Class&#160;A ordinary
    share, on August&#160;10, 2005. On May&#160;12,
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2010, we effected a change of the ADS to Class&#160;A ordinary
    share ratio from 1 ADS representing 1 Class&#160;A ordinary
    share to 10 ADSs representing 1 Class&#160;A ordinary share. The
    ratio change has the same effect as a
    <FONT style="white-space: nowrap">10-for-1</FONT> ADS
    split. Our ADSs currently trade on The Nasdaq Global Select
    Market.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2008, our shareholders approved our name change from
    Baidu.com, Inc. to Baidu, Inc. In November 2009, we moved into
    our new corporate headquarters, which we name as Baidu Campus.
    Our principal executive offices are located at Baidu Campus,
    No.&#160;10 Shangdi 10th&#160;Street, Haidian District, Beijing
    100085, the People&#146;s Republic of China. Our telephone
    number at this address is +86
    <FONT style="white-space: nowrap">(10)&#160;5992-8888.</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We established Baidu Japan, a subsidiary in Japan, in December
    2006. We formally launched the Japanese search service in
    January 2008 and now have three subsidiaries in Japan.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In November 2010, we established our subsidiary Baidu USA LLC,
    or Baidu U.S., a research and development facility controlled by
    Baidu Japan Inc. Baidu U.S.&#160;is currently in its
    <FONT style="white-space: nowrap">start-up</FONT>
    stage.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">B.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Business
    Overview</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We are the leading Chinese language Internet search provider. As
    a technology-based media company, we aim to provide the best way
    for people to find information. In addition to serving Internet
    search users, we provide an effective platform for businesses to
    reach potential customers. According to a market survey
    announced by iResearch Consulting Group, a third-party market
    research firm, our search engine Baidu.com accounted for 80.3%
    of the total Chinese language web search market in China in
    2010, as measured by the number of Chinese language web search
    requests handled. According to Alexa.com, our Baidu.com website
    was the largest website in China, as measured by user traffic
    during the three-month period ended December&#160;31, 2010.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In January 2008, we formally launched our Japanese search
    services at Baidu.jp, run by Baidu Japan. Our Japanese search
    services enable users to find relevant information online,
    including web pages, images, multimedia files and documents,
    etc., through links provided on our websites.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We conduct our current operations primarily in China, while our
    revenues generated from international operations are
    insignificant. Revenues generated from our operations in China
    accounted for approximately 99.9% in 2008, 99.9% in 2009 and
    99.8% in 2010 of our total revenues.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We serve three types of online participants:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Users.</I></B>&#160;&#160;We primarily offer a Chinese
    language search platform on our website Baidu.com as well as a
    Japanese language search platform on our website Baidu.jp. We
    provide Chinese language Internet search services to enable
    users to find relevant information online, including web pages,
    news, images, documents and multimedia files, through links
    provided on our websites.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Customers.</I></B>&#160;&#160;We design and deliver our
    online marketing services primarily on our Baidu.com website to
    our online marketing customers to whom we provide one or more
    forms of our online marketing services. In 2010, we had
    approximately 412,000 active online marketing customers. Our
    online marketing customers consist of SMEs throughout China,
    large domestic corporations and Chinese divisions or
    subsidiaries of large, multinational corporations. We have a
    diverse customer base in terms of industries and geographical
    locations. The industries in which our customers operate include
    medical, machinery, education, software and online games,
    tourism and ticketing, transportation, franchising, business
    services, electronic products, information technology services,
    financial services, construction and decoration, household
    appliances, and other industries. Customers in the top five
    industries contributed approximate 50% of our total online
    marketing revenues in 2010. Although we have customers located
    throughout China, we have a more active and larger customer base
    in coastal regions, reflecting the current general economic
    demographics in China.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Baidu Union Members.</I></B>&#160;&#160;Baidu Union
    consists of a large number of third-party web content and
    software providers. Baidu Union members can display on their
    properties our customers&#146; promotional links that match the
    content of such members&#146; properties. Some Baidu Union
    members also incorporate a Baidu search box or toolbar into
    their websites. Users of Baidu Union members&#146; websites can
    conduct search via the Baidu search box or toolbar and can click
    on our customers&#146; promotional links located on Baidu Union
    members&#146; properties. Our relationships with Baidu Union
    members allow them to provide high-quality and
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    relevant search results to their users without the cost of
    building and maintaining advanced search capabilities in-house.
    Moreover, our Baidu Union members can monetize their traffic and
    content through revenue sharing arrangements with us, which are
    based on the number of click-throughs from their users on our
    customers&#146; promotional links. The click-throughs can be
    either on our customers&#146; promotional links reached through
    the Baidu search box or toolbar located on the Baidu Union
    members&#146; websites or directly on our customers&#146;
    promotional links located on the Baidu Union Members&#146;
    properties. We adopted the differential revenue sharing policy
    in 2010, under which the Baidu Union members who bring higher
    quality and more relevant click-throughs are awarded with higher
    revenue sharing ratio. We also closely monitor the effectiveness
    of our promotional campaigns to recruit additional Baidu Union
    members. As a result, the number of Baidu Union members that
    contributed revenues to us increased by approximately 11.8% in
    2010.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Products
    and Services for Users</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We focus on offering products and services that enable our users
    to find relevant information quickly and easily. We offer the
    following products and services at Baidu.com to users free of
    charge. Some of these products and services are also available
    at m.baidu.com and wap.baidu.com, our websites for users who
    access our services through mobile devices, including wireless
    application protocol (WAP) enabled mobile phones. We organize
    our products and services for users into eight categories,
    namely, search products and web directory, search-based
    community products, Baidu mobile search and related products,
    products and tools for website owners and customers,
    <FONT style="white-space: nowrap">e-commerce</FONT>
    and entertainment products, software and related search products
    and other products and services.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Search
    Products and Web Directory</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Baidu Web Search.</I></B>&#160;&#160;Baidu&#146;s web
    search allows users to locate information, products,
    applications and services using Chinese language search queries.
    Through our search proprietary technology, we build and
    continuously refine a large database of Chinese synonyms and
    closely associated phrases, which is essential for accurate and
    efficient execution of Chinese language searches. The Baidu.com
    home page prominently features a search box that is designed not
    only to load quickly but also user-friendly. After entering a
    search query, users are generally presented with a list of
    search results, which may include our customers&#146; links
    marked as sponsored links. Users can then access the desired
    websites by clicking on the hypertext links displayed in the
    search results.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition to providing access to billions of indexed Chinese
    language web pages, we have integrated additional features into
    our web search that help users find information more easily. The
    Baidu web search includes features such as:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Related Search&#160;&#151; provides alternative search terms
    based on the original queries to help users find relevant web
    pages quickly.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Search in Results&#160;&#151; enables users to conduct
    additional searches within the initial search results.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Search Term Suggestion&#160;&#151; Displays a list of suggested
    search terms as the user inputs words into the search box.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Search by Chinese Phonetics (Pinyin)&#160;&#151; enables users
    to conduct quick searches by entering Chinese phonetics with
    letters of the English alphabet instead of Chinese characters.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Spell Checker&#160;&#151; suggests alternate search terms when a
    search appears to contain misspellings or typing errors.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Advanced Search&#160;&#151; enables users to create more focused
    queries by employing techniques such as narrowing results to
    specified words or phrases, document formats, geographic
    regions, time frames or websites.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Snapshots&#160;&#151; provides snapshots of web pages taken when
    the pages were indexed, allowing users to view web pages that
    cannot be quickly or easily opened.
</TD>
</TR>

</TABLE>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Stock Quotes&#160;&#151; provides links to stock information of
    companies listed on the stock exchanges in China and the U.S.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Weather, Train and Flight Schedules&#160;&#151; enables users to
    check weather, domestic train and flight schedules as well as
    schedules of international flights departing from or arriving in
    China.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Official Customer Service Contact Information&#160;&#151;
    enables users to quickly find updated customer service phone
    numbers of various service providers and companies in China.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Products and Shops&#160;&#151; provides a list of qualified B2C
    shops and products to help users identify suitable products.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Recruitment Information&#160;&#151; provides users with a list
    of potential employment opportunities.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    News, Knows, Post Bar, MP3, Images, Video, Map, Doc and Space
    Information&#160;&#151; displays search results from other Baidu
    products including Baidu News, Baidu Knows, Baidu Post Bar,
    Baidu MP3 Search, Baidu Image Search, Baidu Map, Baidu Wenku and
    Baidu Video Search.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu News.</B>&#160;&#160;Baidu News provides links to an
    extensive selection of local, national and international news
    and presents news stories in a searchable format, typically
    within minutes of their publication on the web. Baidu News uses
    an automated process to display links to related headlines,
    which enables users to see many different viewpoints on the same
    story. Baidu News is typically updated every three to five
    minutes throughout the day. Users also can choose to have links
    of specific types of news articles (e.g., financial news) or
    news articles containing specific keywords delivered to their
    email accounts. We hold a license to provide Internet news
    services issued by the State Council News Office.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu MP3 Search.</B>&#160;&#160;Baidu MP3 Search provides
    algorithm-generated links to songs and other multimedia files
    available on the Internet. Users can also sort Baidu MP3 Search
    links by various categories, including lists of top songs and
    artists, which are updated automatically, generally every week,
    based on the number of clicks. On the Baidu MP3 Search site, we
    and more than 280 content providers, including some music
    labels, jointly offer Baidu Music Debut, a channel that offers
    users the latest new singles from artists of these labels in
    streaming format. Another channel of the Baidu MP3 Search site
    is Baidu Online Radio Alliance, which provides users with live
    radio programs from around 40 national and regional broadcasters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Image Search.</B>&#160;&#160;Baidu Image Search enables
    users to search millions of images on the Internet. Baidu Image
    Search offers advanced features, such as search by image size,
    color or image file type. Image listings are organized by
    various categories which are updated automatically through
    algorithms. In addition to searching images by term queries,
    Baidu Image Search also allows users to search information on an
    image or search other similar images by allowing users to upload
    an image or entering its uniform resource locator (URL).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Video Search.</B>&#160;&#160;Baidu Video Search enables
    users to search for and access through hyperlinks online video
    clips that are hosted on third parties&#146; websites.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Web Directory.</B>&#160;&#160;Baidu Web Directory
    enables users to browse and search through websites that have
    been organized into categories. We also operate Hao123.com, a
    popular Chinese web directory navigation site in China.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Map Search.</B>&#160;&#160;We offer Baidu Map Search
    using our self-developed geographic information system (GIS)
    platform, aiming at enriching our users&#146; navigation
    experience. Baidu Map Search enables users to search online maps
    of over 340 large and medium sized cities in China. Users have
    the option to type search terms into a single search box to find
    a particular place, points of interest, such as restaurants,
    hotels, schools, banks, etc., near a particular place, or get
    driving directions and public transportation routes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Dictionary.</B>&#160;&#160;Baidu Dictionary provides
    users with lookup and text translation services between Chinese
    and English.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Frequently Used Information
    Search.</B>&#160;&#160;Baidu Frequently Used Information Search
    enables users to quickly search certain frequently used
    information, e.g., weather, map, train and flight schedules,
    television schedules, stock prices, etc.
</DIV>
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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Search-based
    Community Products</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Post Bar.</B>&#160;&#160;Baidu Post Bar provides users
    with a query-based searchable community to exchange views and
    share knowledge and experience. The community can be further
    expanded by users posting new topics that have not been covered
    in the community before. In Baidu Post Bar, users can search,
    read and browse Internet message boards and post messages to
    other members of the community. Baidu Post Bar covers a broad
    range of topics and interest areas, such as society, technology,
    sports, entertainment and fashion. It also provides
    video-sharing capabilities, which allow users to post and share
    video clips in Baidu Post Bar online communities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Knows.</B>&#160;&#160;Baidu Knows provides users with a
    query-based searchable community to share knowledge and
    experiences. Through Baidu Knows, registered members of Baidu
    Knows can post specific questions for other members to respond
    and also answer questions of other members. Any users of our
    websites can also search, read and browse questions and answers
    by registered members of Baidu Knows. Baidu Knows contains a
    broad range of subjects.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Space.</B>&#160;&#160;Baidu Space allows registered
    users to create personalized homepages in a query-based
    searchable community. Registered users can post their Web logs,
    or blogs, photo album and certain personal information on their
    homepages and establish their own communities of friends who are
    also registered users. Registered users also can set limit on
    the access to certain content on their homepages.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Encyclopedia.</B>&#160;&#160;Baidu Encyclopedia is an
    evolving encyclopedia compiled by registered Internet users.
    Registered users can share their knowledge by adding new terms
    and new content in Baidu Encyclopedia. Any users of our
    Baidu.com website can also search, read and browse all terms and
    content contributed by registered users of Baidu Encyclopedia.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Wenku.</B>&#160;&#160;Baidu WenKu is an online document
    sharing platform, through which any registered users of our
    Baidu.com website can search, browse or read, by categories,
    documents in various formats such as Microsoft WORD, PDF,
    Microsoft Excel, etc. Baidu Wenku also allows registered users
    to upload to and download from this user-created documents
    database.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Search and Store.</B>&#160;&#160;We offer Baidu Search
    and Store, a free online bookmarking service that allows
    registered users to bookmark, store and organize website links
    in an online space and conduct searches within the bookmarked
    websites.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Experience.</B>&#160;&#160;Baidu Experience is a
    platform where users can share their experience with others by
    inputting their observations and knowledge following a
    predetermined format.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu NearYou.</B>&#160;&#160;We offer Baidu NearYou, an
    online location-based service information sharing platform,
    which allows users to stay in touch with what is happening in
    their immediate vicinities. Users can find, share information on
    and comment on restaurants, hotels, shopping events,
    entertainment centers, sporting facilities, recreational
    destinations, etc., at a location of interest. Baidu NearYou
    currently covers 368 large and medium sized cities in China.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Baidu
    Mobile Search and Related Products.</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Mobile Search.</B>&#160;&#160; Baidu Mobile Search
    enables users to access our search and community-based products
    and services such as Baidu News, Baidu Post Bar, Baidu Knows and
    Baidu Map Search using mobile devices, including WAP-enabled
    mobile phones. Baidu Mobile Search supports voice activated
    search to better serve users of mobile devices. In addition, by
    minimizing graphics and interactive contents, Baidu Mobile
    Search offers a user friendly and productive mobile Internet
    search experience. In May and October 2009, we entered into
    arrangements with China Telecom and China Unicom, two mobile
    carriers in China, respectively, to provide mobile search for
    their 3G mobile service subscribers. Under these arrangements,
    our mobile search service will be embedded in the mobile
    carriers&#146; selected 3G phone modules. Their mobile
    subscribers will be able to use the pre-installed applications
    to access various Baidu products and services available to
    mobile phone users.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Palm.</B>&#160;&#160;Baidu Palm is a user-end software
    product designed specifically for mobile phone users. By
    downloading and installing Baidu Palm, mobile phone users can
    access various Baidu products including Baidu
</DIV>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Web Search, Baidu News, Baidu Map Search, Baidu Post Bar and
    Baidu Knows without the need to make multiple registrations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Mobile Phone Input Method.</B>&#160;&#160;Baidu Mobile
    Phone Input Method is another user-end software product, which
    supports multiple methods of inputting Chinese characters on
    mobile phones. It is designed to allow mobile phone users to
    conduct searches more efficiently.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Mobile QuickSearch.</B>&#160;&#160;Baidu Mobile
    QuickSearch is an end-user search application that runs locally
    on mobile devices. Baidu Mobile QuickSearch keeps users informed
    with news, popular phrases, websites, pictures and novels. It is
    optimized for mobile devices with efficient size and technology
    to minimize data consumption during search.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Mobile Map.</B>&#160;&#160;Baidu Mobile Map is an
    end-user search application that runs locally on mobile devices.
    In addition to Baidu Map Search functions, Baidu Mobile Map
    supports the &#147;Locate Me&#148; feature and points of
    interest searches based on the user&#146;s current location.
    Users can also find real-time traffic information and share
    search results with others via text messages or multimedia
    messaging.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Products
    and Services for Websites and Enterprises</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Open Platform.</B>&#160;&#160;Baidu Open Platform is a
    platform, offered at open.baidu.com and app.baidu.com, aiming at
    providing one-stop online service by intelligently identifying
    users&#146; demands before providing optimized treatments and
    responses. Content providers and developers could surrender
    their contents and applications to Baidu and the contents and
    applications could be presented directly in Baidu&#146;s search
    result pages for users to access easily without being directed
    to other website links.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Statistics.</B>&#160;&#160;Baidu Statistics, previously
    named as Baidu Holmes, is a platform that helps our online
    marketing customers to evaluate the effect of our online
    marketing solutions by providing various data and analyses that
    could be used to monitor return on investments. Baidu Union
    members and other website owners can also benefit from Baidu
    Statistics in better managing their websites through the data
    and analyses provided by this platform.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Ads Manager.</B>&#160;&#160;Baidu Ads Manager is a
    platform through which website owners could manage promotional
    links or ads on their websites in an efficient way.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Data Center.</B>&#160;&#160;Baidu Data Center is an
    online channel providing research reports, news and other
    content relating to more than 10 industry sectors such as
    cosmetics, IT training, automobiles, online games and real
    estate. These industry-specific research reports are developed
    primarily by mining search queries data generated on our
    websites. Users registered with Baidu Data Center can download
    these reports for market research purpose.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Search Ranking and Search Index.</B>&#160;&#160;Baidu
    Search Ranking provides listings of top search terms based on
    daily search queries entered on Baidu.com. The listings are
    organized by categories and allow users to easily locate popular
    search terms on topics of interest. We also offer Baidu Search
    Index, which shows how frequently a given search term is entered
    into Baidu sites, together with other relevant information such
    as its historical trend, geographic distribution and demographic
    distribution.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times"><FONT style="white-space: nowrap">E-commerce</FONT>
    and Entertainment Products</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Youa.</B>&#160;&#160;In October 2008, we launched Baidu
    Youa, a consumer-oriented
    <FONT style="white-space: nowrap">e-commerce</FONT>
    platform. Through Baidu Youa, merchants can sell their products
    and services at Baidu-registered stores. Merchants and consumers
    can use a Baidu-branded online payment system, BaiduPay, to send
    and receive payments. In addition to possessing the features and
    functions of traditional
    <FONT style="white-space: nowrap">consumer-to-consumer</FONT>
    (C2C) online trading platforms, Baidu Youa focuses on providing
    consumers with rich and relevant information about the products
    or services that they are interested in, such as detailed
    description of product or service features, comparison of
    similar products or services, user reviews, and public and
    professional reviews available on the Internet. Baidu
    Youa&#146;s services are supported by a constantly updated
    database of merchandise information.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In 2010, we integrated our life search product with Youa, to
    create the new Youa Life to provide local service information,
    hence making it easier for the users to locate products and
    services that meet their criteria.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Games.</B>&#160;&#160;Baidu Games is a channel where
    registered users can play web games provided by our online game
    operator partners without downloading any client-end
    applications.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Entertainment.</B>&#160;&#160;Baidu Entertainment is an
    online channel devoted exclusively to entertainment-related news
    and content. Users can search and browse through news,
    interviews and other information relating to specific stars,
    movies, television series and music.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Software
    and Related Search Products</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Hi.</B>&#160;&#160;Baidu Hi is our instant messaging
    service. In addition to the major instant messaging functions of
    chat, grouping, and personalization, Baidu Hi also integrates
    the search services, online communities and various other
    features that we provide.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Toolbar and Baidu Companion.</B>&#160;&#160;Baidu
    Toolbar and Baidu Companion are free, downloadable software
    which, once installed, show up on a browser&#146;s tool bar and
    makes our search function and some specific search capabilities
    readily available on every web page that a user browses.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu TT Player.</B>&#160;&#160;Baidu TT Player is a software
    client that enables users to play back multi-format audio files.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Software Search.</B>&#160;&#160;Baidu Software Search
    allows users to search downloadable software for computers and
    mobile devices, as well as choose software by categories, e.g.,
    games, social networking and utilities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Input Method Editor.</B>&#160;&#160;Based on our search
    technology, we have developed Baidu Input Method Editor, an
    intelligent input method editor for users of non-mobile device,
    which adapts to the ever evolving Chinese language through
    analyzing popular search terms. Baidu Input Method Editor also
    accommodates mixed use of Chinese and English language without
    having to switch input methods.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Computer Manager.</B>&#160;&#160;Baidu Computer
    Manager, developed in cooperation with an anti-virus vendor,
    provides an antivirus function and allows users to locate and
    download commonly used software easily, and to upgrade and
    uninstall software on their computers easily. Baidu Computer
    Manager offers a list of available software and a one-click
    install function in addition to a download tool.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Player.</B>&#160;&#160;We have developed Baidu Player,
    an audio and video player using the streaming media technology.
    Baidu Player enables users to play multimedia files of various
    popular formats online, as well as multimedia files on their
    computers off-line.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>BaiZip.</B>&#160;&#160;BaiZip is a free zip utility for file
    compression and encryption, allowing users to zip and unzip
    files of data compression and archive formats such as 7Z, ZIP,
    TAR and BAI, a new format created by Baidu. Users can also use
    BaiZip to unzip files of many other commonly used data
    compression and archive formats in addition to the ones listed
    above.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Other
    Products and Services</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Senior Citizen Search.</B>&#160;&#160;In October 2009,
    we launched a new version of web search specifically designed
    for senior users. Supported by Hanvon, Baidu Senior Citizen
    Search allows users to handwrite search terms in Chinese by
    moving around the mouse and produce search results more tailored
    to senior users&#146; interests and experiences. It also selects
    websites that may be of interest to senior users and organizes
    these into categories and subjects.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Search for Visually Impaired.</B>&#160;&#160;Baidu
    Blind Search is designed to assist visually impaired users to
    conduct a more effective search by removing certain
    advertisement, images and other content that may interrupt with
    the functioning of viewing software used by visually impaired
    users.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu University Search.</B>&#160;&#160;Baidu University
    Search allows users to search information on or browse through
    the websites of specific universities in China.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Blog Search.</B>&#160;&#160;We offer Baidu Blog Search,
    which allows users to search Chinese language blogs on the
    Internet.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Legal Search.</B>&#160;&#160;Baidu Legal Search, which
    was jointly developed by Chinalawinfo.com and us, enables users
    to search a database that contains national and local laws and
    regulations, cases, legal decisions and law dictionaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Ancient Chinese Literature
    Search.</B>&#160;&#160;Jointly developed by us and Beijing
    Guoxue Times Culture Transmission Co., Ltd., Baidu Ancient
    Chinese Literature Search allows users to search and peruse
    ancient Chinese masterpieces covering literature, history,
    religion, philosophy, arts and other essential components of the
    traditional Chinese culture within our online database. We have
    created the first online database of ancient Chinese literature
    in the world to serve and benefit users who appreciate the
    profound Chinese culture.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Book Search.</B>&#160;&#160;Through collaboration with
    a number of partners in book publishing and distribution, we
    offer Baidu Book Search, which allows users to search for and
    view information relating to specific books, such as title,
    author, publisher, price, brief introduction and table of
    contents. Due to copyright reasons, Baidu Book Search does not
    provide the full text of books.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Patent Search.</B>&#160;&#160;Baidu Patent Search is
    operated in cooperation with the China Patent Information Center
    under the State Intellectual Property Office of the PRC. Baidu
    Patent Search enables users to search for specific Chinese
    patents and provides basic patent information in the search
    results, including the patent&#146;s name, application number,
    filing date, issue date, inventor information and brief
    description of the patent.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Products
    and Services by Affiliated or Cooperative Websites</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Qiyi Internet TV.</B>&#160;&#160;Qiyi Internet TV allows
    users to search, watch for free copyrighted movies, television
    series, cartoons, variety shows and other programs. The programs
    are provided by content providers under licensing arrangements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Leju.</B>&#160;&#160;Baidu Leju is a real estate
    information search platform jointly developed by Baidu and China
    Real Estate Information Corporation, or CRIC, a leading provider
    of real estate information, consulting and online services in
    China. Baidu Leju is designed to provide Chinese Internet users
    with comprehensive, timely information relating to the real
    estate markets throughout China. Under the cooperation agreement
    entered into between Baidu and CRIC in May 2010, CRIC has the
    exclusive right to build and operate Baidu&#146;s web channels
    related to real estate and home furnishing, including
    <FONT style="white-space: nowrap">http://house.baidu.com,</FONT>
    <FONT style="white-space: nowrap">http://leju.baidu.com</FONT>
    and
    <FONT style="white-space: nowrap">http://jiaju.baidu.com.</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Sky.</B>&#160;&#160;Baidu Sky is a platform through
    which our users can browse and download software. We also
    cooperate with telecommunication operators and websites to build
    mirrored software platforms of Baidu Sky for users.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Rakuten Mall.</B>&#160;&#160;Rakuten Mall is a
    <FONT style="white-space: nowrap">business-to-business-to-consumer</FONT>
    (B2B2C) online shopping mall jointly developed by Baidu and
    Rakuten, Inc., which provides Chinese Internet users with
    high-quality merchandise from well-known Chinese and foreign
    brands as well as SMEs at competitive prices.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Japanese
    Products and Services</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Japanese Products.</B>&#160;&#160;In January 2008, we
    launched our Japanese search services at Baidu.jp, run by our
    Japanese subsidiary, Baidu Japan. Our Japanese search services
    currently offer Web Search, Image Search, Video Search and Post
    Bar as well as Baidu WenKu, named as Baidu Library in Japan,
    which is an online document sharing platform. In addition, we
    provide Mobile Search service in Japan and Baidu Type, a
    Japanese input method for PC users.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Products
    and Services for Customers</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We focus on providing customers with cost-effective and targeted
    marketing solutions. We generate almost all of our revenues from
    online marketing services, including online marketing services
    based on search queries, online marketing services based on
    contextuals, online marketing services based on search behaviors
    of Internet users,
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    online marketing services of display placements and online
    marketing services of other forms. Our online marketing services
    generally comprise text links, images, multimedia files and
    interactive forms.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Online
    Marketing Services Based on Search Queries</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Online marketing services based on search queries are
    keyword-based marketing services targeted to and triggered by
    Internet users&#146; search queries, which includes our P4P
    services as well as other online marketing services based on
    search queries, for example, Brand-Link. A P4P customer pays us
    only when users click on one of its website links on Baidu
    search result pages or Baidu Union members&#146; properties
    while a Brand-Link customer pays us based on the duration of the
    placement on Baidu search result pages. Users could reach our
    P4P sponsored links via either mobile devices or non-mobile
    devices.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>P4P.</B>&#160;&#160;Our auction-based P4P services enable our
    customers to bid for priority placement of their links in
    keyword search results. We believe we were the first
    auction-based P4P service provider in China. Our P4P platform
    enables our customers to reach users who search for information
    related to their products or services. Customers may use our
    automated online tools to create text-based descriptions of
    their web pages and bid on keywords that trigger the display of
    their web page information and link. Our P4P platform features
    an automated online
    <FONT style="white-space: nowrap">sign-up</FONT>
    process that allows customers to activate their accounts at any
    time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our P4P platform is an online marketplace that introduces
    Internet search users to customers who bid for priority
    placement in the search results. Our intelligent ranking system
    takes into consideration the &#147;quality factor&#148; of a
    keyword in addition to the price bid on the keyword. The quality
    factor of a keyword is determined based on the relevance of a
    keyword and certain other factors. The relevance of a keyword is
    determined based on our analysis of past search and
    click-through results. Links to customers&#146; websites are
    ranked according to a comprehensive ranking index, calculated
    based on both the quality factor of a keyword and the price bid
    on that keyword. Our P4P online marketing customers may choose
    to set a daily limit on the amount spent and may also choose to
    target only users accessing our website from specified regions
    in China
    <FONT style="white-space: nowrap">and/or</FONT>
    during specific time period of the day.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We also offer certain customers value-added consultative
    services that help to maximize their return on investment,
    including keyword suggestions, account management and
    performance reporting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2009, we switched from our previous auction-based
    online marketing system, which we refer to as Online Marketing
    Classic Edition, to our new online marketing system, Phoenix
    Nest. Through an enhanced algorithm that generates more relevant
    advertisements and provides customers with additional tools and
    information to help them better manage their spending and
    achieves higher ROI, Phoenix Nest is designed to improve
    relevance in paid search and increase value for customers, thus
    driving monetization efficiency. We are committed to programs
    designed specifically to retain existing customers and to
    attract new customers, however, there is no assurance that we
    will be able to retain existing customers or continuously
    attract new customers to use it. See &#147;Item&#160;3.D. Risk
    Factors&#160;&#151; Risks Related to Our Business&#160;&#151; If
    we fail to retain existing customers or attract new customers
    for our online marketing services, our business and growth
    prospects could be seriously harmed.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Brand-Link.</B>&#160;&#160;We offer a brand advertising
    service, Brand-Link. When Internet users conduct a keyword
    search using brand names of our customers who subscribe to our
    Brand-Link services, the search will generate a wide range of
    brand-specific content, including news reports, promotional
    announcements, product information and marketing campaigns.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Online
    Marketing Services Based on Contextuals</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Online marketing services based on contextuals refer to our
    Network Marketing services. Using our ProTheme contextual
    promotion technology, we offer Network Marketing, a service that
    enables our customers&#146; promotional links to be displayed on
    both Baidu web pages and Baidu Union members&#146; web pages
    where the customers&#146; links are relevant to the subject and
    content of such web pages. We generate revenues from our Network
    Marketing service based on the number of clicks on our
    customers&#146; links and share the revenues with our Baidu
    Union members for displaying our customers&#146; promotional
    links on Baidu Union members&#146; web pages in accordance with
    pre-agreed terms.
</DIV>
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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Online
    Marketing Services Based on Search Behaviors of Internet
    Users</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Online marketing services based on search behaviors of Internet
    users include, among others, Targetizement and Grand Media using
    our Targetizement technology, both of which enable our
    customers&#146; advertisements to match their targeted Internet
    users who are automatically identified based on the users&#146;
    past behaviors on the Internet. Targetizement customer pays us a
    fee based on the number of clicks on their advertisements
    displayed on Baidu web pages while Grand Media customer pays us
    based on a cost per thousand impressions basis for the links on
    Baidu Union members&#146; properties.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Online
    Marketing Services of Display Placements</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Online marketing services of display placements allow our
    customers to display links not sensitive to search queries at a
    designated location on Baidu web pages or Baidu Union
    members&#146; properties. Our customers mainly pay us, among
    other forms of payments which are less common, based on the
    duration of the placement on Baidu search web pages or on a cost
    per action basis, for example, number of registered users, on
    Baidu Union members&#146; properties.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Online
    Marketing Services of Other Forms</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We offer other forms of online marketing services besides the
    aforesaid services, including directing traffic to
    customer&#146;s contents to allow more exposure of these
    contents to users, and to enable users to purchase and use the
    contents via non-mobile devices. Users could also access some of
    these contents via mobile devices.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Sales and
    Distribution</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We sell our online marketing services directly and through our
    distribution network. Currently, we have direct sales presence
    in Shanghai, Beijing and major cities in Guangdong Province.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our distributors provide numerous services, including
    identifying customers, collecting payments, assisting customers
    in setting up accounts with us, suggesting keywords to maximize
    ROI and engaging in other marketing and educational services
    aimed at acquiring customers. We offer discounts to distributors
    as consideration for their services. We have relied on
    distributors for several reasons. Our P4P customer base in China
    is geographically diverse and fragmented, as many of our P4P
    customers are SMEs located in different regions in China.
    Moreover, SMEs are generally less experienced with online
    marketing as compared to large companies and therefore benefit
    from the extensive services provided by distributors. Finally,
    secure online payment and credit card systems are in early
    stages of development in China. Distributors serve as an
    important channel to reach SME customers throughout China and
    collect payments from them.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We offer our online marketing services to medium and large
    corporate customers through third-party agencies and our direct
    sales force. We have local sales staff in Beijing, Shanghai and
    major cities in Guangdong Province, including Shenzhen,
    Guangzhou, and Dongguan, covering the largest regional markets
    for our online marketing services.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Marketing</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Historically, our user base grew primarily through
    <FONT style="white-space: nowrap">word-of-mouth.</FONT>
    We focus on continuously improving the quality of our products
    and services, as we believe satisfied users and customers are
    more likely to recommend our products and services to others.
    Through these efforts and the increased use of the Internet in
    China, we have built our brand with modest marketing
    expenditures.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our initial public offering in 2005 and subsequent positive
    media coverage have significantly enhanced our brand
    recognition. In addition, we have implemented a number of
    marketing initiatives designed to promote our brand awareness
    among potential users and customers. For example, we purchased
    advertisements shown during CCTV&#146;s 2009 Spring Festival
    Gala, the most watched show on China&#146;s largest nationwide
    television network, and we also purchased advertisements shown
    during the 2011 Spring Festival on various television channels
    in China. We have also conducted cross-marketing activities with
    a number of leading consumer brands.
</DIV>
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    In addition, with the assistance from our distributors, we
    conduct localized marketing activities tailored to potential
    customers in various regions. We also organize and sponsor
    seminars and discussion forums targeted at existing and
    potential customers.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Competition</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Internet search industry in China is rapidly evolving and
    highly competitive. Our primary competitors include
    <FONT style="white-space: nowrap">U.S.-based</FONT>
    Internet search providers providing Chinese language Internet
    search services and Chinese Internet companies. We compete with
    these entities for both users and customers on the basis of user
    traffic, quality (relevance) and quantity (index size) of search
    results, availability and ease of use of our products and
    services, the number of customers, distribution channels and the
    number of associated third-party websites. We also face
    competition from traditional advertising media. Furthermore, our
    instant messaging and
    <FONT style="white-space: nowrap">e-commerce</FONT>
    services face competition from leading providers of these
    services in China.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I><FONT style="white-space: nowrap">U.S.-based</FONT>
    Internet Search
    Providers.</I><FONT style="white-space: nowrap">&#160;&#160;U.S.-based</FONT>
    Internet search providers such as Google and Microsoft have a
    strong global presence, well-established brand names, more users
    and customers and significantly greater financial resources than
    we do. We may also continue to face competition from other
    existing competitors and new entrants in the Chinese language
    search market.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Chinese Internet Companies.</I>&#160;&#160;Chinese Internet
    portals such as Sohu, Netease and Tencent offer a broad range of
    online services, including search service. Sohu has its own
    search engine, &#147;Sogou,&#148; and Tencent also has its own
    search engine, &#147;SOSO.&#148; Each of our Chinese competitors
    has generated significant traffic, a loyal user base and a large
    and broad customer base. These portals have widely recognized
    brand names in China and some have greater financial resources
    than we do. We compete with these portals primarily for user
    traffic and online advertising. In addition, we compete with B2B
    service providers such as Alibaba, which also offers search
    services on its websites.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Other Advertising Media.</I>&#160;&#160;Other advertising
    media, such as newspapers, yellow pages, magazines, billboards
    and other forms of outdoor media, television and radio, compete
    for a share of our customers&#146; marketing budgets. Large
    enterprises currently spend a relatively small percentage of
    their marketing budgets on online marketing as compared to the
    percentage they spend on other advertising media.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Instant Messaging and
    <FONT style="white-space: nowrap">E-commerce</FONT>
    Service Providers.</I>&#160;&#160;Baidu Hi, our instant
    messaging service, competes primarily with Tencent&#146;s QQ and
    MSN Messenger. Baidu Youa, our
    <FONT style="white-space: nowrap">e-commerce</FONT>
    platform, faces competition primarily from
    <FONT style="white-space: nowrap">e-commerce</FONT>
    service providers such as Alibaba&#146;s Taobao, Tencent&#146;s
    Paipai, Eachnet, a joint venture of eBay and Tom Online, 58.com,
    and Ganji.com.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Technology</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We provide our web search and P4P technology using our network
    of computers running customized software developed in-house. Our
    key technologies include:
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Web
    Search Technology</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our web search technology applies a combination of techniques to
    determine the importance of a web page independent of a
    particular search query and the relevance of that page to a
    particular search query.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Link Analysis Techniques.</I>&#160;&#160;Link analysis is a
    technique that determines the relevance between a user query and
    a web page by evaluating the combination of the anchor texts and
    the number of web pages linked to that web page. We treat a link
    from web page&#160;A to web page&#160;B as a &#147;vote&#148; by
    page&#160;A in favor of page&#160;B. The subject of the
    &#147;vote&#148; is described in the anchor texts of that link.
    The more &#147;votes&#148; a web page gets, the higher the
    relevance. We compare search queries with the content of web
    pages to help determine relevance. Our text-based scoring
    techniques do more than count the number of times a search term
    appears on a web page. For example, our technology determines
    the proximity of individual search terms to each other on a
    given web page, and prioritizes results where the search terms
    are near each other. Other aspects of a page&#146;s content are
    also considered. By combining link analysis with our information
    extraction techniques, we are able to deliver relevant search
    results.
</DIV>
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    <I>Information Extraction Techniques.</I>&#160;&#160;We extract
    information from a web page using high performance algorithms
    and information extraction techniques. Our techniques enable us
    to understand web page content, delete extraneous data, build
    link structures, identify duplicate and junk pages and decide
    whether to include or exclude a web page based on its quality.
    Our techniques can process millions of web pages quickly. In
    addition, our anti-spamming algorithms and tools can identify
    and respond to spamming web pages quickly and effectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Web Crawling Techniques.</I>&#160;&#160;Our powerful computer
    clusters and intelligent scheduling algorithms allow us to crawl
    Chinese web pages efficiently. We can easily scale up our system
    to collect billions of Chinese web pages. Our spider technology
    enables us to refresh web indices at intervals ranging from
    every few minutes to every few weeks. We set the index refresh
    frequency rate based on our knowledge of Internet search
    users&#146; needs and the nature of the information. For
    example, our news index is typically updated every three to five
    minutes, and can be as frequent as every minute, throughout the
    day given the importance of timely information for news. We also
    mine multimedia and other forms of files from web page
    repositories.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2008, we announced Project Aladdin, an ongoing
    research and development effort aimed at uncovering useful parts
    of the &#147;Hidden Web,&#148; the part of the Internet that
    existing search engine technology may not be able to index, in
    order to enrich search results for our users. Aladdin is now a
    part of Baidu Open Platform.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Chinese Language Processing Techniques.</I>&#160;&#160;We
    analyze and understand Chinese web pages by processing
    word-segmentation and utilizing an encoding method based on
    Chinese language characteristics. For example, we can identify
    Chinese names on a web page. When a user searches for a person
    based on the person&#146;s Chinese name, we can display the web
    pages that are specifically related to that person. We also mine
    user behavior and search interests from our large search query
    logs. We provide additional web search features such as advanced
    search, spell check and search by Chinese phonetics (Pinyin).
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">P4P
    Technology</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our P4P platform serves millions of relevant, targeted sponsored
    links each day based on search terms users enter or content they
    view on the web page. Our key P4P technology includes:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>P4P Auction System.</I>&#160;&#160;We use a web-based auction
    system to enable customers to bid for positions and
    automatically deliver relevant, targeted promotional links on
    Baidu&#146;s properties and Baidu Union members&#146;
    properties. The system starts by screening the relevance between
    the sponsored links and a particular query. Our intelligent
    ranking system takes into consideration the quality factor of a
    keyword in addition to the price bid on the keyword. The quality
    factor of a keyword is determined based on the relevance of the
    keyword and certain other factors. The relevance of a keyword is
    determined based on the analysis of past search and
    click-through results. Links to customers&#146; websites are
    ranked according to a comprehensive ranking index, calculated
    based on both the quality factor of a keyword and the price bid
    or that keyword. We employ a dynamic mechanism for the
    determination of the minimum bidding price for each keyword. For
    determination of cost per click, or CPC, the system uses an
    automatic price reducing mechanism which automatically lowers
    the CPC to the minimum needed to maintain the desired position.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2009, we completed the switch from Online Marketing
    Classic Edition, our previous auction-based online marketing
    system, to Phoenix Nest, our current online marketing system.
    Compared with the previous auction system, Phoenix Nest, which
    is designed to generate more relevant advertisements, helps
    customers to more easily find users&#146; favorite search terms
    to bid on, and provides customers with more tools for budget
    management and more data for the effective measurement of ROI.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>P4P Billing System.</I>&#160;&#160;We record every click and
    charge customers a fee by multiplying the number of clicks by
    the CPC. Our system is designed to detect fraudulent clicks
    based on factors such as click patterns and timestamps. This
    system also computes the amount a Baidu Union member or a
    distributor should be paid. The billing information is
    integrated with our internal Oracle ERP financial system.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>P4P Customer Service System.</I>&#160;&#160;This system
    manages customer information such as targeted keywords, costs
    per click and performance analysis.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>ProTheme Contextual Promotion Technology.</I>&#160;&#160;Our
    ProTheme technology employs techniques that consider factors
    such as theme finding, keyword analysis, word frequency and the
    overall link structure of the web to analyze the content of
    individual web pages and to match sponsored links in our P4P
    platform to the web pages almost instantaneously. With this
    targeting technology, we can automatically provide contextually
    relevant promotional links. For example, our technology can
    provide links offering tickets to fans of a specific sports team
    or a news story about that team.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Targetizement
    Technology</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our Targetizement technology matches our customers&#146;
    promotional links with their targeted Internet users. Our
    automatic algorithm can analyze a user&#146;s interests based on
    his or her past search experience and display promotional links
    that the user may be interested in viewing.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Large-Scale
    Systems Technology</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We generally use custom software running on clusters of
    commodity computers. Our investment in our large-scale system
    infrastructure has several key benefits: simplification of the
    storage and processing of large amounts of data, facilitation of
    the deployment and operation of large-scale products and
    services, and automation of much of the administration of
    large-scale clusters of computers. Moreover, this large
    infrastructure is easily scalable to increases in traffic and
    dataset volume.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our large-scale system infrastructure uses distributed software
    and high performance parallel computing technologies to provide
    high-quality web search services and web page collection with
    low cost computer clusters on a Linux operating system. We also
    have management information systems that enable us to perform
    tasks such as service operations, administration,
    trouble-shootings and filtering with relative ease and
    efficiency. In addition, we have software systems that can test
    new ideas with real search queries to evaluate the actual
    effects without affecting live services.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our infrastructure significantly improves the relevance of our
    search and advertising results by allowing us to apply superior
    search and retrieval algorithms that are computationally
    intensive. We believe this infrastructure also shortens our
    product development cycle and allows us to innovate more
    cost-effectively. We also constantly evaluate new hardware
    alternatives and software techniques to help further reduce our
    computational costs.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Intellectual
    Property</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We rely on a combination of trademark, copyright and trade
    secret protection laws in China and other jurisdictions, as well
    as confidentiality procedures and contractual provisions to
    protect our intellectual property and our brand. We have ten
    issued patents in China and intend to apply for more patents to
    protect our core technologies. We also enter into
    confidentiality, non-compete and invention assignment agreements
    with our employees and consultants and nondisclosure agreements
    with selected third parties. &#147;
    <IMG src="h04360dh04360c001.gif" alt="CHINES CHAR"> &#148; which is our
    company&#146;s name &#147;Baidu&#148; in Chinese, has been
    recognized as a well-known trademark in China by the Trademark
    Office under the State Administration for Industry and Commerce.
    In addition to owning the trademark &#147;
    <IMG src="h04360dh04360c001.gif" alt="CHINES CHAR"> &#148; and the
    related logo, we have applied for registration of additional
    trademarks and logos, including &#147;
    <IMG src="h04360dh04360c002.gif" alt="CHINES CHAR"> &#148;, &#147;
    <IMG src="h04360dh04360c003.gif" alt="CHINES CHAR"> &#148;, &#147;
    <IMG src="h04360dh04360c004.gif" alt="CHINES CHAR"> &#148;,&#160;and
    &#147; <IMG src="h04360dh04360c005.gif" alt="CHINES CHAR"> &#148; We
    also have registered certain trademarks in Hong Kong, including
    &#147; <IMG src="h04360dh04360c001.gif" alt="CHINES CHAR"> &#148; and
    our company logo, and the United States, including
    &#147;Baidu&#148;. In addition, we have registered our domain
    name Baidu.com, hao123.com and youa.com with MarkMonitor.com,
    Baidu.jp with humeia.co.jp and Baidu.cn, Baidu.com.cn, and
    certain other websites with China National Network Information
    Center, or CNNIC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Internet, technology and media companies are frequently involved
    in litigation based on allegations of infringement or other
    violations of intellectual property rights. Furthermore, the
    application of laws governing intellectual property rights in
    China and abroad is uncertain and evolving and could involve
    substantial risks to us. See &#147;Item&#160;3.D. Key
    Information&#160;&#151; Risk Factors&#160;&#151; Risks Related
    to Our Business&#160;&#151; We may face intellectual property
    infringement claims and other related claims that could be
    time-consuming and costly to defend and may result in our
    inability to continue providing certain of our existing
    services&#148; and &#147;&#151;&#160;We may be subject to patent
    infringement claims with respect to our P4P platform.&#148;
</DIV>
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    <B><FONT style="font-family: 'Times New Roman', Times">Regulation</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The PRC government extensively regulates the telecommunications
    industry, including the Internet sector. The State Council, the
    MIIT and other relevant government authorities have promulgated
    an extensive regulatory scheme governing Internet-related
    services. This section summarizes the principal PRC laws and
    regulations relating to our business.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In the opinion of Han Kun Law Offices, our PRC legal counsel:
    (1)&#160;the ownership structure of our company, Baidu Online,
    Baidu China, Baidu Times, Baidu Netcom, Beijing Perusal and
    BaiduPay complies with current PRC laws and regulations;
    (2)&#160;subject to the disclosure and risks disclosed under
    &#147;Item&#160;3.D. Key Information&#160;&#151; Risk
    Factors&#160;&#151; Risks Related to Our Corporate
    Structure,&#148; &#147;&#151;&#160;Risks Related to Doing
    Business in China&#148; and &#147;Regulation,&#148; our
    contractual arrangements with Baidu Netcom, Beijing Perusal,
    BaiduPay, and Baidu HR and their shareholders are valid and
    binding on all parties to these arrangements and do not violate
    existing PRC laws or regulations; and (3)&#160;subject to the
    disclosure and risks disclosed under &#147;Item&#160;3.D. Key
    Information&#160;&#151; Risk Factors&#160;&#151; Risks Related
    to Our Corporate Structure,&#148; &#147;&#151;&#160;Risks
    Related to Doing Business in China&#148; and
    &#147;Regulation,&#148; the business operations of our company,
    Baidu Online, Baidu China, Baidu Times, Baidu Netcom, Beijing
    Perusal, BaiduPay and Baidu HR, as described herein, comply with
    current PRC laws and regulations in all material respects.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    China&#146;s Internet industry and online advertising market are
    at an early stage of development. There are substantial
    uncertainties regarding the interpretation and application of
    existing or proposed PRC laws and regulations. We cannot assure
    you that the PRC regulatory authorities would find that our
    corporate structure and our business operations comply with PRC
    laws and regulations. If the PRC government finds us to be in
    violation of PRC laws and regulations, we may be required to pay
    fines and penalties, obtain certain licenses or permits and
    change, suspend or discontinue our business operations until we
    comply with applicable PRC laws and regulations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    on Value-Added Telecommunications Services and Internet Content
    Services</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In September 2000, the State Council promulgated the
    Telecommunications Regulations, or the Telecom Regulations. The
    Telecom Regulations categorize all telecommunications businesses
    in the PRC as either basic or value-added. Internet content
    services, or ICP services, are classified as value-added
    telecommunications businesses. Under the Telecom Regulations,
    commercial operators of value-added telecommunications services
    must first obtain an operating license from the MIIT or its
    provincial level counterparts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In September 2000, the State Council issued the Administrative
    Measures on Internet Information Services, or the Internet
    Measures. According to the Internet Measures, commercial ICP
    service operators must obtain an ICP license from the relevant
    government authorities before engaging in any commercial ICP
    operations within the PRC. In November 2000, the MIIT
    promulgated the Internet Electronic Messaging Service
    Administrative Measures, or the BBS Measures. BBS services
    include electronic bulletin boards, electronic forums, message
    boards and chat rooms. The BBS Measures require ICP operators to
    obtain specific approvals before providing BBS services. On
    July&#160;4, 2010, the approval requirement for operating BBS
    services was terminated by a decision issued by the PRC State
    Council. However, in practice, the competent authorities still
    require the relevant operating companies to obtain such approval
    for the operation of BBS services.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2001, the MIIT promulgated the Administrative
    Measures for Telecommunications Business Operating License, or
    the Telecom License Measures. In March 2009, the MIIT issued a
    revised Telecom License Measures, which took effect on
    April&#160;10, 2009. The Telecom License Measures set forth the
    types of licenses required to operate value-added
    telecommunications services and the qualifications and
    procedures for obtaining such licenses. For example, an ICP
    operator providing value-added services in multiple provinces is
    required to obtain an inter-regional license, whereas an ICP
    operator providing the same services in one province is required
    to obtain a local license.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    National security considerations are an important factor in the
    regulation of Internet content in China. The National
    People&#146;s Congress, the PRC&#146;s national legislature, has
    enacted laws with respect to maintaining the
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    security of Internet operation and Internet content. According
    to these laws, as well as the Internet Measures, violators may
    be subject to penalties, including criminal sanctions, for
    Internet content that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    opposes the fundamental principles stated in the PRC
    constitution;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    compromises national security, divulges state secrets, subverts
    state power or damages national unity;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    harms the dignity or interests of the state;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    incites ethnic hatred or racial discrimination or damages
    inter-ethnic unity;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    undermines the PRC&#146;s religious policy or propagates
    heretical teachings or feudal superstitions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    disseminates rumors, disturbs social order or disrupts social
    stability;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    disseminates obscenity or pornography, encourages gambling,
    violence, murder or fear or incites the commission of a crime;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    insults or slanders a third party or infringes upon the lawful
    rights and interests of a third party;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    is otherwise prohibited by law or administrative regulations.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    ICP operators are required to monitor their websites, including
    electronic bulletin boards. They may not post or disseminate any
    content that falls within these prohibited categories and must
    remove any such content from their websites.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The PRC government may shut down the websites of ICP license
    holders that violate any of the above-mentioned content
    restrictions and revoke their ICP licenses.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Tort
    Liability Law</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Tort Liability Law of the People&#146;s Republic of China
    became effective on July&#160;1, 2010. In accordance with the
    Tort Liability Law, Internet users and Internet service
    providers shall bear tortious liabilities in the event they
    infringe other persons&#146; rights and interests through the
    Internet. Where an Internet user conduct tortious acts through
    Internet services, the infringed person has the right to request
    the Internet service provider to take necessary actions such as
    deleting contents, screening and delinking; and failing to take
    necessary actions after being informed will subject the Internet
    service provider to joint and several liabilities with the
    Internet user with regard to the additional damages incurred.
    Where an Internet service provider knows an Internet user is
    infringing other persons&#146; rights and interests through its
    Internet service but fails to take necessary action, it shall be
    jointly and severally liable with the Internet user.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Restrictions
    on Foreign Ownership in Value-Added Telecommunications
    Services</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    According to the Provisions on Administration of Foreign
    Invested Telecommunications Enterprises, or the FITE Provisions,
    promulgated by the State Council in December 2001 and amended in
    September 2008, the ultimate foreign equity ownership in a
    value-added telecommunications services provider must not exceed
    50%. Moreover, for a foreign investor to acquire any equity
    interest in a value-added telecommunication business in China,
    it must satisfy a number of stringent performance and
    operational experience requirements, including demonstrating
    good track records and experience in operating value-added
    telecommunication business overseas. Foreign investors that meet
    these requirements must obtain approvals from the MIIT and the
    Ministry of Commerce (or the Ministry of Commerce&#146;s
    authorized local counterparts), which retain considerable
    discretion in granting approvals. According to publicly
    available information, the PRC government has issued
    telecommunications business operating licenses to only a limited
    number of foreign invested companies, all of which are
    Sino-foreign joint ventures engaging in the value-added
    telecommunication business. We believe that it would be
    impracticable for us to acquire any equity interest in Baidu
    Netcom, Beijing Perusal, BaiduPay or Baidu HR without diverting
    management attention and resources. In addition, we believe that
    our contractual arrangements with these entities and their
    respective individual shareholders provide us with sufficient
    and effective control over these entities. Accordingly, we
    currently do not plan to acquire any equity interest in any of
    these entities.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In July 2006, the MIIT issued the Notice of the MIIT on
    Intensifying the Administration of Foreign Investment in
    Value-added Telecommunications Services. This notice prohibits
    domestic telecommunication services providers from leasing,
    transferring or selling telecommunications business operating
    licenses to any foreign investor in any form, or providing any
    resources, sites or facilities to any foreign investor for their
    illegal operation of a telecommunications business in China.
    According to this notice, either the holder of a value-added
    telecommunication business operating license or its shareholders
    must directly own the domain names and trademarks used by such
    license holders in their provision of value-added
    telecommunication services. The notice further requires each
    license holder to have the necessary facilities, including
    servers, for its approved business operations and to maintain
    such facilities in the regions covered by its license. In
    addition, all value-added telecommunication service providers
    are required to maintain network and Internet security in
    accordance with the standards set forth in relevant PRC
    regulations. If a license holder fails to comply with the
    requirements in the notice and cure such non-compliance, the
    MIIT or its local counterparts have the discretion to take
    measures against such license holders, including revoking their
    valued-added telecommunication business operating licenses.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    To comply with these PRC regulations, we operate our websites
    through Baidu Netcom and Beijing Perusal, our PRC affiliated
    entities. In February 2008, we assisted in establishing another
    consolidated affiliated entity, BaiduPay, which operate an
    online payment platform. In 2010, we assisted in establishing
    consolidated affiliated entity, Baidu HR, which will provide
    online employment agency services. Baidu Netcom is wholly owned
    by our chairman, chief executive officer and co-founder Robin
    Yanhong Li and our co-founder Eric Yong Xu, both of whom are PRC
    citizens. Beijing Perusal is wholly owned by two PRC citizens
    designated by our company. BaiduPay is wholly owned by Baidu
    Netcom and a PRC citizen designated by our company. Baidu HR is
    wholly owned by our chairman, chief executive officer and
    co-founder Robin Yanhong Li. Each of Baidu Netcom and Beijing
    Perusal holds a value-added telecommunications business
    operating license. It remains unclear whether the provision of
    online payment services by BaiduPay will require BaiduPay to
    apply for a value-added telecommunications business operating
    license for &#147;online data processing and transaction
    processing businesses&#148; as provided in the Catalog of
    Telecommunications Businesses promulgated by the MIIT.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    To comply with the Notice of the MIIT on Intensifying the
    Administration of Foreign Investment in Value-added
    Telecommunications Services, we have transferred certain domain
    names primarily used in our business to Baidu Netcom and Beijing
    Perusal, respectively, and have transferred certain trademarks
    to BaiduPay. We are also in the process of transferring certain
    trademarks, including pending trademark applications made by
    Baidu Online, to Baidu Netcom and Beijing Perusal, respectively.
    See &#147;Item&#160;3.D. Key Information&#160;&#151; Risk
    Factors&#160;&#151; Risks Related to Doing Business in
    China&#160;&#151; We may be adversely affected by the
    complexity, uncertainties and changes in PRC regulation of
    Internet business and companies.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    on News Display</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Displaying news on a website and disseminating news through the
    Internet are highly regulated in the PRC. In November 2000, the
    State Council News Office and the MIIT promulgated the
    Provisional Measures for Administrating Internet Websites
    Carrying on the News Displaying Business. These measures require
    an ICP operator (other than a government authorized news unit)
    to obtain State Council News Office approval to post news on its
    website or disseminate news through the Internet. Furthermore,
    the disseminated news must come from government-approved sources
    pursuant to contracts between the ICP operator and these
    sources, copies of which must be filed with the relevant
    government authorities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On September&#160;25, 2005, the State Council News Office and
    the MIIT jointly issued the Provisions on the Administration of
    Internet News Information Services, requiring Internet news
    information service organizations to provide services as
    approved by the State Council News Office, subject to annual
    inspection under the new provisions. These Provisions also
    provide that no Internet news information service organizations
    may take the form of a foreign invested enterprise, whether a
    joint venture or a wholly foreign owned enterprise and no
    cooperation between Internet news information service
    organizations and foreign invested enterprise is allowed prior
    to the security evaluation by the State Council News Office.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2006, Baidu Netcom obtained the Internet news
    license, which permits it to publish Internet news pursuant to
    the relevant PRC laws and regulations. The Internet news license
    is subject to annual inspection by relevant government
    authorities.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    on Internet Culture Activities</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On May&#160;10, 2003, the Ministry of Culture promulgated the
    Internet Culture Administration Tentative Measures, or the
    Internet Culture Measures, which was revised in July 2004. On
    February&#160;17, 2011, the Ministry of Culture promulgated a
    restated Internet Culture Measures, which will take effect from
    April&#160;1, 2011 to replace the existing Internet Culture
    Measures. The Internet Culture Measures require ICP operators
    engaging in &#147;Internet culture activities&#148; to obtain a
    permit from the Ministry of Culture. The term &#147;Internet
    culture activities&#148; includes, among other things, online
    dissemination of Internet cultural products (such as audio-video
    products, gaming products, performances of plays or programs,
    works of art and cartoons) and the production, reproduction,
    importation, distribution and broadcasting of Internet cultural
    products. We have hosted certain audio/video programs on the
    Baidu Movie channel since 2006. Baidu Netcom was granted an
    Internet culture business permit in April 2007, which was
    renewed in October 2010.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On November&#160;20, 2006, the Ministry of Culture issued
    Several Suggestions of the Ministry of Culture on the
    Development and Administration of the Internet Music, or the
    Suggestions, which became effective on November&#160;20, 2006.
    The Suggestions, among other things, reiterate the requirement
    for the Internet service provider to obtain the Internet culture
    business permit to carry on any business of Internet music
    products. In addition, foreign investors are prohibited from
    engaging in the Internet culture business operation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On August&#160;26, 2009, the PRC Ministry of Culture promulgated
    the Notice on Strengthening and Improving the Content Review of
    Online Music dated August&#160;18, 2009. According to this
    notice, only &#147;Internet culture operating entities&#148;
    approved by the Ministry of Culture may engage in the
    production, release, dissemination (including providing direct
    links to music products) and importation of online music
    products. Internet culture operating entities should establish
    strict self-monitoring system of online music content and set up
    special department in charge of such monitoring.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    on Internet Publishing</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The General Administration of Press and Publication and the
    Ministry of Industry and Information Technology jointly issued
    the Interim Provisions for the Administration of Internet
    Publishing, or the Internet Publishing Regulations, which became
    effective on August&#160;1, 2002. The Internet Publishing
    Regulations authorize the General Administration of Press and
    Publication, or GAPP, to grant approval to all entities that
    engage in Internet publishing. Pursuant to the Internet
    Publishing Regulations, the term &#147;Internet publishing&#148;
    shall mean the act of online spreading of articles, whereby the
    Internet information service providers select, edit and process
    works created by themselves or others and subsequently post such
    works on the Internet or transmit such works to the users&#146;
    end via Internet for the public to browse, read, use or
    download. Baidu Netcom is in the process of applying for the
    Internet publication business license.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulation
    on Broadcasting Audio/Video Programs through the
    Internet</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On July&#160;6, 2004, the State Administration of Radio Film and
    Television promulgated the Rules for the Administration of
    Broadcasting of Audio/Video Programs through the Internet and
    Other Information Networks, or the A/V Broadcasting Rules. The
    A/V Broadcasting Rules apply to the opening, broadcasting,
    integration, transmission or download of audio/video programs
    via the Internet and other information networks. Anyone who
    wishes to engage in Internet broadcasting activities must first
    obtain an audio/video program transmission license, with a term
    of two years, issued by the State Administration of Radio Film
    and Television and operate pursuant to the scope as provided in
    such license. Foreign invested enterprises are not allowed to
    engage in the above business.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On April&#160;13, 2005, the State Council announced Several
    Decisions on Investment by Non-state-owned Companies in
    Culture-related Business in China. These decisions encourage and
    support non-state-owned companies to enter certain
    culture-related business in China, subject to restrictions and
    prohibitions for
</DIV>
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    investment in audio/video broadcasting, website news and certain
    other businesses by non-state-owned companies. These decisions
    authorize the Ministry of Culture, the State Administration of
    Radio Film and Television and the General Administration of
    Press and Publication to adopt detailed implementation rules
    according to these decisions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On December&#160;20, 2007, the State Administration of Radio
    Film and Television and the MIIT jointly issued the Rules for
    the Administration of Internet Audio and Video Program Services,
    commonly known as Document 56, which came into effect as of
    January&#160;31, 2008. Document 56 reiterates the requirement
    set forth in the A/V Broadcasting Rules that online audio/video
    service provider must obtain a license from the State
    Administration of Radio Film and Television. Furthermore,
    Document 56 requires all online audio/video service providers to
    be either wholly state-owned or state-controlled. According to
    relevant official answers to press questions published on the
    State Administration of Radio Film and Television&#146;s website
    dated February&#160;3, 2008, officials from the State
    Administration of Radio Film and Television and the MIIT
    clarified that online audio/video service providers that already
    had been operating lawfully prior to the issuance of Document
    56&#160;may re-register and continue to operate without becoming
    state-owned or controlled, provided that such providers have not
    engaged in any unlawful activities. This exemption will not be
    granted to online audio/video service providers established
    after Document 56 was issued. Baidu Netcom has obtained an
    audio/video program transmission license, which is valid from
    January 2010 to January 2013.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    on Payment Services by Non-financial Institutions</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The People&#146;s Bank of China published Measures Concerning
    Payment Services by Non-financial Institutions, or the Payment
    Measures, on June&#160;14, 2010, which took effect from
    September&#160;1, 2010 and its implementation rules on
    December&#160;1, 2010, which took effect on December&#160;1,
    2010. According to the Payment Measures and its implantation
    rules, non-financial institutions that have been providing
    monetary capital transfer services as an intermediary between
    payees and payers, including online payment, issuance and
    acceptance of prepaid card or bank card, and other payment
    services as specified by the People&#146;s Bank of China, shall
    be required to obtain a license from the People&#146;s Bank of
    China prior to September&#160;1, 2011, in order to continue
    providing monetary capital transfer services. We are in the
    process of applying for such license.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    on Advertisements</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The PRC government regulates advertising, including online
    advertising, principally through the State Administration for
    Industry and Commerce, although there are no national PRC laws
    or regulations specifically regulating online advertising
    business. Under the Rules for Administration of Foreign Invested
    Advertising Enterprise, promulgated by the State Administration
    for Industry and Commerce and the Ministry of Commerce in March
    2004 and amended in October 2008, foreign investors are
    permitted to own equity interests in PRC advertising companies.
    However, foreign investors in wholly foreign-owned and joint
    venture Chinese advertising companies are required to have at
    least three years and two years, respectively, of direct
    operations in the advertising industry outside of China. Since
    we have not been involved in advertising outside of China for
    the required number of years, we cannot hold direct equity
    interests in PRC companies engaged in advertising business. We
    conduct our online advertising business through our consolidated
    affiliated entities in China, Baidu Netcom and Beijing Perusal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On November&#160;30, 2004, the State Administration for Industry
    and Commerce issued the Administrative Regulations for
    Advertising Operation Licenses, taking effect as of
    January&#160;1, 2005, granting a general exemption to
    enterprises (other than radio stations, television stations,
    newspapers and magazines, non-corporate entities and other
    entities specified in laws or administrative regulations) from
    the previous requirement to obtain an advertising operation
    license in addition to a business license. We conduct our online
    advertising business through Baidu Netcom and Beijing Perusal,
    each of which holds a business license that includes online
    advertising in its business scope.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Advertisers, advertising operators and advertising distributors
    are required by PRC advertising laws and regulations to ensure
    that the contents of the advertisements they prepare or
    distribute are true and in full compliance with applicable laws
    and regulations. In addition, where a special government review
    is required for
</DIV>
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    certain categories of advertisements before publishing, the
    advertisers, advertising operators and advertising distributors
    are obligated to confirm that such review has been performed and
    that relevant approval has been obtained. Violation of these
    regulations may result in penalties, including fines,
    confiscation of advertising income, orders to cease
    dissemination of the advertisements and orders to publish an
    advertisement correcting the misleading information. In
    circumstances involving serious violations, the State
    Administration for Industry and Commerce or its local branches
    may force the violator to terminate its advertising operation or
    even revoke its business license. Furthermore, advertisers,
    advertising operators or advertising distributors may be subject
    to civil liability if they infringe on the legal rights and
    interests of third parties.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    on Internet Mapping Services</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the PRC regulations applicable to Internet mapping
    services issued by the State Bureau of Surveying and Mapping,
    maps called and transmitted through Internet belong to Internet
    maps. To provide Internet mapping services, the provider shall
    apply for a Surveying and Mapping Qualification Certificate for
    Internet mapping with the competent surveying and mapping
    bureau. The PRC regulations also provide for certain conditions
    and requirements for issuing the Surveying and Mapping
    Qualification Certificate, such as the number of technical
    personnel and map security verification personnel, security
    facilities, and approval from relevant provincial or national
    government on the service provider&#146;s security system,
    qualification management and filings management. Baidu Netcom
    currently provides online traffic information inquiry services
    as well as Internet mapping services and have obtained a
    Surveying and Mapping Qualification Certificate for Internet
    mapping.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    on Software Products</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On October&#160;27, 2000, the MIIT issued the Administrative
    Measures on Software Products, or the Software Measures, to
    strengthen the regulation of software products and to encourage
    the development of the PRC software industry. On March&#160;1,
    2009, the MIIT issued an amended Software Measures, which will
    become effective on April&#160;10, 2009. The Software Measures
    provide a registration and filing system with respect to
    software products made in or imported into China. These software
    products may be registered with the competent local authorities
    in charge of software industry administration. Registered
    software products may enjoy preferential treatment status
    granted by relevant software industry regulations. Software
    products can be registered for five years, and the registration
    is renewable upon expiration.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In order to further implement the Computer Software Protection
    Regulations promulgated by the State Council on
    December&#160;20, 2001, the State Copyright Bureau issued the
    Computer Software Copyright Registration Procedures on
    February&#160;20, 2002, which apply to software copyright
    registration, license contract registration and transfer
    contract registration.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    on Online Game Virtual Currency</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Notice to Strengthen the Administration of the Virtual
    Currency of Online Games jointly promulgated by Ministry of
    Culture and Ministry and Commerce in 2009, Interim
    Administration of Online Games and the Notice of Implementation
    of the Interim Administration of Online Games issued by Ministry
    of Culture in 2010 require companies that (i)&#160;issue online
    game virtual currency (including prepaid cards
    <FONT style="white-space: nowrap">and/or</FONT>
    pre-payment or prepaid card points) or (ii)&#160;offer online
    game virtual currency transaction services shall apply for the
    Online Culture Business Permit from provincial branches of the
    Ministry of Culture. The regulations prohibit companies that
    issue online game virtual currency from providing services that
    would enable the trading of such virtual currency. Any company
    that fails to submit the requisite application will be subject
    to sanctions, including but not limited to termination of
    operation, confiscation of incomes and fines. The regulations
    also prohibit online game operators from allocating virtual
    items or virtual currency to players based on random selection
    through lucky draw, wager or lottery which involves cash or
    virtual currency directly paid by the players. In addition,
    companies that issue online game virtual currency shall comply
    with certain specific requirements, such as the online games
    virtual currency shall only be used for the product and service
    related to the online games of the issuance company itself.
    Baidu Netcom has obtained the Online Culture Business Permit for
    issuing online game virtual currency.
</DIV>
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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    on Employment Agency Services</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On August&#160;30, 2007, the Standing Committee of the National
    People&#146;s Congress promulgated the Employment Promotion Law
    of the People&#146;s Republic of China which became effective on
    January&#160;1, 2008, or the Employment Promotion Law. On
    November&#160;5, 2007, the Ministry of Human Resources and
    Social Security of People&#146;s Republic of China promulgated
    the Regulations on Employment Service and Employment Management
    which also became effective on January&#160;1, 2008, or the
    Regulations. In accordance with the Employment Promotion Law and
    the Regulations, an employment agency, which provides
    intermediary and other services for recruitment by employers and
    job applications by employees, shall obtain a license from the
    competent labor authority. A wholly foreign owned enterprise
    (other than owned by Hong Kong and Macao service providers) is
    prohibited from conducting employment agency business. Baidu HR
    was established recently and has not conducted any employment
    agency business. We will apply for the required license prior to
    the commencement of Baidu HR&#146;s employment agency business.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    on Intellectual Property Rights</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    China has adopted legislation governing intellectual property
    rights, including trademarks, patents and copyrights. China is a
    signatory to the main international conventions on intellectual
    property rights and became a member of the Agreement on Trade
    Related Aspects of Intellectual Property Rights upon its
    accession to the WTO in December 2001.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Patent.</I>&#160;&#160;The National People&#146;s Congress
    adopted the Patent Law in 1984, and amended it in 1992, 2000 and
    2008. The purpose of the Patent Law is to protect lawful
    interests of patent holders, encourage invention, foster
    applications of invention, enhance innovative capabilities and
    promote the development of science and technology. To be
    patentable, invention or utility models must meet three
    conditions: novelty, inventiveness and practical applicability.
    Patents cannot be granted for scientific discoveries, rules and
    methods for intellectual activities, methods used to diagnose or
    treat diseases, animal and plant breeds, substances obtained by
    means of nuclear transformation or a design which has major
    marking effect on the patterns or colors of planographic print
    products or a combination of both patterns and colors. The
    Patent Office under the State Council is responsible for
    receiving, examining and approving patent applications. A patent
    is valid for a term of twenty years in the case of an invention
    and a term of ten years in the case of utility models and
    designs. A third-party user must obtain consent or a proper
    license from the patent owner to use the patent. Otherwise, the
    use constitutes an infringement of patent rights.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Copyright.</I>&#160;&#160;The National People&#146;s Congress
    adopted the Copyright Law in 1990 and amended it in 2001 and
    2010 to widen the scope of works and rights that are eligible
    for copyright protection. The amended Copyright Law extends
    copyright protection to, products disseminated over the Internet
    and computer software. In addition, there is a voluntary
    registration system administered by the China Copyright
    Protection Center.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    To address copyright issues relating to the Internet, the PRC
    Supreme People&#146;s Court on November&#160;22, 2000 adopted
    the Interpretations on Some Issues Concerning Applicable Laws
    for Trial of Disputes over Internet Copyright, or the
    Interpretations, which were subsequently amended on
    December&#160;23, 2003 and November&#160;20, 2006. The
    Interpretations establish joint liability for ICP operators if
    they knowingly participate in, assist in or incite infringing
    activities or fail to remove infringing content from their
    websites after receiving notice from the rights holder. In
    addition, any act intended to bypass technologies designed to
    protect copyrights constitutes copyright infringement. Upon
    request, the ICP operators must provide the rights holder with
    registration information of the alleged violator, provided that
    such rights holder has produced relevant identification,
    copyright certificate and evidence of infringement. An ICP
    operator is exempted from any liabilities as long as it removes
    the alleged infringing content after receiving the rights
    holder&#146;s notice accompanied with proper evidence.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    To address the problem of copyright infringement related to the
    content posted or transmitted over the Internet, the PRC
    National Copyright Administration and the MIIT jointly
    promulgated the Measures for Administrative Protection of
    Copyright Related to Internet on April&#160;29, 2005. This
    measure became effective on May&#160;30, 2005.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This measure applies to situations where an ICP operator
    (i)&#160;allows another person to post or store any works,
    recordings, audio or video programs on the websites operated by
    such ICP operator or (ii)&#160;provides links to, or search
    results for, the works, recordings, audio or video programs
    posted or transmitted by such person, without
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    editing, revising or selecting the content of such material.
    Upon receipt of an infringement notice from a legitimate
    copyright holder, an ICP operator must take remedial actions
    immediately by removing or disabling access to the infringing
    content. If an ICP operator knowingly transmits infringing
    content or fails to take remedial actions after receipt of a
    notice of infringement harming public interest, the ICP operator
    could be subject to administrative penalties, including:
    cessation of infringement activities; confiscation by the
    authorities of all income derived from the infringement
    activities; and payment of a fine of up to three times the
    unlawful income or, in cases where the amount of unlawful income
    cannot be determined, a fine of up to RMB100,000. An ICP
    operator is also required to retain all infringement notices for
    a minimum of six months and to record the content, display time
    and IP addresses or the domain names related to the infringement
    for a minimum of 60&#160;days. Failure to comply with this
    requirement could result in an administrative warning and a fine
    of up to RMB30,000.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On May&#160;18, 2006, the State Council promulgated the
    Protection of the Right of Communication through Information
    Network, which became effective on July&#160;1, 2006. Under this
    regulation, an Internet service provider may be exempted from
    liabilities for providing links to infringing or illegal content
    if it does not know that such content is infringing other
    parties&#146; rights or is illegal. However, if the legitimate
    owner of the content notifies the Internet service provider and
    requests removal of the links to the infringing content, the
    Internet service provider would be deemed to have constructive
    knowledge upon receipt of such notification but would be
    exempted from liabilities if it removes or disconnects the links
    to the infringing content at the request of the legitimate
    owner. At the request of the alleged violator, the Internet
    service provider should immediately restore links to content
    previously disconnected upon receipt of initial non-infringing
    evidence.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have adopted measures to mitigate copyright infringement
    risks. For example, our policy is to remove links to web pages
    if we know these web pages contain materials that infringe
    third-party rights or if we are notified by the legitimate
    copyright holder of the infringement with proper evidence.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Trademark.</I>&#160;&#160;The PRC Trademark Law, adopted in
    1982 and revised respectively in 1993 and 2001, protects
    registered trademarks. The Trademark Office under the State
    Administration for Industry and Commerce handles trademark
    registrations and grants a term of ten years to registered
    trademarks. Trademark license agreements must be filed with the
    Trademark Office for record. &#147;
    <IMG src="h04360dh04360c001.gif" alt="CHINES CHAR"> &#148; is
    recognized as a well-known trademark in China by the Trademark
    Office under the State Administration for Industry and Commerce.
    In addition to owning the trademark &#147;
    <IMG src="h04360dh04360c001.gif" alt="CHINES CHAR"> &#148; and the
    related logo, we have applied for registration of additional
    trademarks and logos, including &#147;
    <IMG src="h04360dh04360c002.gif" alt="CHINES CHAR"> &#148;, &#147;
    <IMG src="h04360dh04360c003.gif" alt="CHINES CHAR"> &#148;, &#147;
    <IMG src="h04360dh04360c004.gif" alt="CHINES CHAR"> &#148;,&#160;and
    &#147; <IMG src="h04360dh04360c005.gif" alt="CHINES CHAR"> &#148;.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In September 2002, the CNNIC issued the Implementing Rules for
    Domain Name Registration setting forth detailed rules for
    registration of domain names. On November&#160;5, 2004, the MIIT
    promulgated the Measures for Administration of Domain Names for
    the Chinese Internet, or Domain Name Measures. The Domain Name
    Measures regulate the registration of domain names, such as the
    first tier domain name &#147;.cn.&#148; In February 2006, CNNIC
    issued the Measures on Domain Name Disputes Resolution and its
    implementing rules, pursuant to which CNNIC can authorize a
    domain name dispute resolution institution to decide disputes.
    We have registered Baidu.cn, Baidu.com.cn, hao123.com and
    certain other domain names with CNNIC.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    on Information Security</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The National People&#146;s Congress has enacted legislation that
    prohibits use of the Internet that breaches the public security,
    disseminates socially destabilizing content or leaks state
    secrets. Breach of public security includes breach of national
    security and infringement on legal rights and interests of the
    state, society or citizens. Socially destabilizing content
    includes any content that incites defiance or violations of PRC
    laws or regulations or subversion of the PRC government or its
    political system, spreads socially disruptive rumors or involves
    cult activities, superstition, obscenities, pornography,
    gambling or violence. State secrets are defined broadly to
    include information concerning PRC national defense, state
    affairs and other matters as determined by the PRC authorities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    According to other relevant regulations, ICP operators must
    complete mandatory security filing procedures and regularly
    update information security and censorship systems for their
    websites with local public security authorities, and must also
    report any public dissemination of prohibited content.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, the State Secrecy Bureau has issued provisions
    authorizing the blocking of access to any website it deems to be
    leaking state secrets or failing to comply with the relevant
    legislation regarding the protection of state secrets during
    online information distribution. Specifically, Internet
    companies in China with bulletin boards, chat rooms or similar
    services must apply for specific approval prior to operating
    such services.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On November&#160;23, 2005, the Ministry of Public Security
    promulgated Provisions on Technological Measures for Internet
    Security Protection, or Internet Protection Measures. The
    Internet Protection Measures require all ICP operators to keep
    records of certain information about its users (including user
    registration information, log-in and log-out time, IP address,
    content and time of posts by users) for at least 60&#160;days
    and submit the above information as required by laws and
    regulations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As Baidu Netcom and Beijing Perusal are ICP operators, they are
    subject to the regulations relating to information security.
    They have taken measures to comply with such regulations. They
    are registered with the relevant government authority in
    accordance with the mandatory registration requirement. Baidu
    Netcom&#146;s policy is to remove links to web pages which to
    its knowledge contain information that would be in violation of
    PRC laws or regulations. In addition, we monitor our websites to
    ensure our compliance with such laws and regulations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    on Internet Privacy</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The PRC Constitution states that PRC law protects the freedom
    and privacy of communications of citizens and prohibits
    infringement of such rights. In recent years, PRC government
    authorities have enacted legislation on Internet use to protect
    personal information from any unauthorized disclosure. The
    Internet Measures prohibit an ICP operator from insulting or
    slandering a third party or infringing the lawful rights and
    interests of a third party. Pursuant to the BBS Measures, ICP
    operators that provide electronic messaging services must keep
    users&#146; personal information confidential and must not
    disclose such personal information to any third party without
    the users&#146; consent or unless required by law. The
    regulations further authorize the relevant telecommunications
    authorities to order ICP operators to rectify unauthorized
    disclosure. ICP operators are subject to legal liability if the
    unauthorized disclosure results in damages or losses to users.
    The PRC government, however, has the power and authority to
    order ICP operators to turn over personal information if an
    Internet user posts any prohibited content or engages in illegal
    activities on the Internet.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    on Foreign Exchange</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Foreign
    Currency Exchange</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the Foreign Currency Administration Rules
    promulgated in 1996 and amended in 1997 and 2008 and various
    regulations issued by SAFE and other relevant PRC government
    authorities, RMB is freely convertible to the extent of current
    account items, such as trade related receipts and payments,
    interest and dividends. Capital account items, such as direct
    equity investments, loans and repatriation of investment, unless
    expressly exempted by laws and regulations, still require prior
    approval from SAFE or its provincial branch for conversion of
    RMB into a foreign currency, such as U.S.&#160;dollars, and
    remittance of the foreign currency outside the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Payments for transactions that take place within the PRC must be
    made in RMB. Unless otherwise approved or permitted, PRC
    companies must repatriate foreign currency payments received
    from abroad. The foreign exchange received by PRC companies,
    including foreign invested enterprises, may be retained in their
    foreign exchange accounts without being exchanged into RMB to
    the extent permitted by relevant laws and regulations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Dividend
    Distribution</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The principal laws and regulations governing dividend
    distributions by wholly foreign owned enterprises and
    Sino-foreign equity joint ventures include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Wholly Foreign Owned Enterprise Law (1986), as amended;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Wholly Foreign Owned Enterprise Law Implementing Rules (1990),
    as amended;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Sino-foreign Equity Joint Venture Enterprise Law (1979), as
    amended;
</TD>
</TR>

</TABLE>
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    <BR>
    54
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Sino-foreign Equity Joint Venture Enterprise Law Implementing
    Rules (1983), as amended;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    PRC Enterprise Income Tax Law (2007);&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Implementation Rules of the PRC Enterprise Income Tax Law (2007).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under these laws and regulations, wholly foreign owned
    enterprises and Sino-foreign equity joint ventures in the PRC
    may pay dividends only out of their accumulated profits, if any,
    as determined in accordance with PRC accounting standards and
    regulations. Additionally, these foreign-invested enterprises
    are required to set aside certain amounts of their accumulated
    profits each year, if any, to fund certain reserve funds. These
    reserves are not distributable as cash dividends.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Foreign
    Exchange Registration of Offshore Investment by PRC
    Residents</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to SAFE&#146;s Notice on Relevant Issues Concerning
    Foreign Exchange Administration for PRC Residents to Engage in
    Financing and Inbound Investment via Overseas Special Purpose
    Vehicles, or Circular No.&#160;75, issued on October&#160;21,
    2005, and its implementation rules issued in May 2007,
    (i)&#160;a PRC resident, including a PRC resident natural person
    or a PRC company, is required to register with the local branch
    of SAFE before it establishes or controls an overseas SPV, or
    SPV, for the purpose of overseas equity financing (including
    convertible debt financing); (ii)&#160;when a PRC resident
    contributes the assets of or its equity interests in a domestic
    enterprise into an SPV, or engages in overseas financing after
    contributing assets or equity interests into an SPV, such PRC
    resident shall register his or her interest in the SPV and the
    change thereof with the local branch of SAFE; and
    (iii)&#160;when the SPV undergoes a material event outside of
    China, such as change in share capital or merger and
    acquisition, the PRC resident must, within 30&#160;days from the
    occurrence of such event, register such change with the local
    branch of SAFE. PRC residents who are shareholders of SPVs that
    were established and which have completed their inbound
    investment before November&#160;1, 2005 were required to
    register with the local SAFE branch before March&#160;31, 2006.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under Circular No.&#160;75, failure to comply with the
    registration procedures set forth above may result in penalties,
    including restrictions on a PRC subsidiary&#146;s foreign
    exchange activities and its ability to distribute dividends to
    the SPV.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On December&#160;25, 2006, the People&#146;s Bank of China
    promulgated the Measures for the Administration of Individual
    Foreign Exchange, and on January&#160;5, 2007 SAFE further
    promulgated the implementation rules on those measures. Both
    became effective on February&#160;1, 2007. According to the
    implementation rules, if individuals in the PRC participate in
    any employee stock ownership plan or stock option plan of an
    overseas listed company, those individuals must apply as a group
    through the company or a domestic agency to SAFE or the
    appropriate local branch for approval for any foreign
    exchange-related transactions concerning that plan.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On March&#160;28, 2007, SAFE promulgated the Application
    Procedure of Foreign Exchange Administration for Domestic
    Individuals Participating in Employee Stock Holding Plan or
    Stock Option Plan of Overseas-Listed Company. Under this rule,
    PRC citizens who are granted stock options by an overseas
    publicly listed company are required, through a PRC agent or PRC
    subsidiary of such overseas publicly-listed company, to register
    with SAFE and complete certain other procedures.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    on Labor</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On June&#160;29, 2007, the National People&#146;s Congress of
    China enacted the Labor Contract Law, which became effective on
    January&#160;1, 2008. Compared to the Labor Law, the Labor
    Contract Law establishes more restrictions and increases costs
    for employers, including specific provisions related to
    fixed-term employment contracts, temporary employment,
    probation, consultation with the labor union and employee
    assembly, employment without a contract, dismissal of employees,
    compensation upon termination and overtime work, and collective
    bargaining. According to the Labor Contract Law, an employer is
    obliged to sign labor contract with unlimited term with an
    employee if the employer continues to hire the employee after
    the expiration of two consecutive fixed-term labor contracts.
    The employer has to compensate the employee upon the expiration
    of a fixed-term labor contract, unless the employee refuses to
    renew such contract on terms the same as or better than those
    contained in the expired contract. The employer also has to
    indemnify an employee if the employer terminates a labor
    contract without a cause permitted by law. In addition, under
    the Regulations on Paid Annual Leave for Employees, which became
    effective on
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    January&#160;1, 2008, employees who have served more than one
    year for an employer are entitled to a paid vacation ranging
    from 5 to 15&#160;days, depending on their length of service.
    Employees who waive such vacation time at the request of
    employers shall be compensated for three times their regular
    salaries for each waived vacation day.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    on Taxation</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For a discussion of applicable PRC tax regulations, see
    &#147;Item&#160;5.A. Operating and Financial Review and
    Prospects&#160;&#151; Operating Results&#160;&#151;
    Taxation.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Regulations
    in Japan</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Although current Japanese law and regulations contain no
    provisions expressly directed toward legal control of Internet
    search services such as those operated by our Japanese
    subsidiaries in Japan, certain existing Japanese law and
    regulations may nonetheless affect such services. The
    application to our Japanese subsidiaries of existing Japanese
    law and regulations relating to issues such as intellectual
    property ownership and infringement, obscenity and other content
    regulation, user privacy and data protection, defamation,
    consumer protection and quality of services in many instances is
    unclear or unsettled. In all such cases, there is a possibility
    that providing, editing and processing by an Internet search
    service of links to web pages which contain material in
    violation of applicable Japanese law could result in civil or
    criminal legal liability on the part of such Internet search
    service. In addition to the foregoing, there is political and
    social support within Japan for the adoption of legislation
    expressly directed to the legal control of harmful information
    on the Internet. With this support, a law which aims to protect
    juveniles from harmful information on the Internet was
    introduced in June 2008. The law requires Internet service
    providers, mobile phone Internet service providers and other
    Internet related businesses to make efforts to take certain
    measures to protect juveniles from harmful information on the
    Internet such as introducing filtering software. We conduct our
    Japan operations in accordance with this law where applicable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">C.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Organizational
    Structure </FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following is a list of our subsidiaries and consolidated
    affiliated entities as of the date of this annual report on
    <FONT style="white-space: nowrap">Form&#160;20-F:</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="46%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="14%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="15%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="20%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Name</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Time of Formation</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Place of Formation</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Relationship</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Baidu Online Network Technology (Beijing) Co., Ltd.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    January 2000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    China
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Wholly owned subsidiary
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Baidu Holdings Limited
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    February 2000
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    British Virgin Islands
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Wholly owned subsidiary
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Beijing Baidu Netcom Science Technology Co., Ltd.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    June 2001
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    China
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Consolidated affiliated entity
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Baidu (China) Co., Ltd.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    June 2005
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    China
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Wholly owned subsidiary
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Baidu.com Times Technology (Beijing) Co., Ltd.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    April 2006
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    China
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Wholly owned subsidiary
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Beijing Perusal Technology Co., Ltd.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    June 2006
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    China
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Consolidated affiliated entity
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Baidu Japan Inc.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    December 2006
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Japan
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Wholly owned subsidiary
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Baidu (Hong Kong) Limited
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    November 2007
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Hong Kong
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Wholly owned subsidiary
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Beijing BaiduPay Science and Technology Co., Ltd.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    February 2008
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    China
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Consolidated affiliated entity
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Baido, Inc.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    April 2008
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Japan
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Wholly owned subsidiary
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Hyakudo, Inc.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    April 2008
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Japan
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Wholly owned subsidiary
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Baidu USA LLC
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    November 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    USA
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Wholly owned subsidiary
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Baidu International Technology (Shenzhen) Co., Ltd.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    November 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    China
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Wholly owned subsidiary
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Baidu HR Consulting (Shanghai) Co., Ltd.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    December 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    China
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Consolidated affiliated entity
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, we own 100% ordinary shares in Qiyi.com Inc.,
    representing 61.11% equity interests in Qiyi.com Inc. on an
    as-converted basis. However, we have not consolidated the
    financial results of Qiyi.com Inc. in our financial statements
    under the U.S.&#160;GAAP because we are deemed not to have
    &#147;control&#148; over Qiyi.com Inc. due to certain
    substantive participating rights provided to the convertible
    redeemable preferred shareholder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    PRC laws and regulations restrict foreign investment in
    Internet, online advertising and employment agency businesses.
    Accordingly, we operate our websites and our online advertising
    business in China through contractual
</DIV>
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    <BR>
    56
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    arrangements with Baidu Netcom, Beijing Perusal, BaiduPay, Baidu
    HR and their respective individual shareholders, which allow us
    to substantially control these entities.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Contractual
    Arrangements with Baidu Netcom and Its Shareholders</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    PRC law currently limits foreign equity ownership of companies
    that provide Internet content and online advertising businesses.
    To comply with these foreign ownership restrictions, we operate
    our websites and provide online advertising services in China
    through a series of contractual arrangements with Baidu Netcom
    and its shareholders, Robin Yanhong Li and Eric Yong Xu. The
    following is a summary of these contractual arrangements as
    currently in effect.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Exclusive Technology Consulting and Services
    Agreement.</I></B>&#160;&#160;Pursuant to the exclusive
    technology consulting and services agreement between Baidu
    Online and Baidu Netcom, Baidu Online has the exclusive right to
    provide to Baidu Netcom technology consulting and services
    related to the maintenance of servers, software development and
    design of advertisements. Baidu Online also seconds employees to
    Baidu Netcom for whom Baidu Netcom bears the costs and expenses.
    Baidu Online owns the intellectual property rights related to
    the software developed by Baidu Online for Baidu Netcom. Baidu
    Netcom pays monthly service fees to Baidu Online based upon a
    pre-agreed formula, which takes into account the number of
    monthly page views and the basic fee for every one thousand page
    views of advertisements displayed on our websites. The basic fee
    for every one thousand page views is subject to periodic
    adjustment. The term of this agreement is ten years from the
    date thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Baidu
    <FONT style="white-space: nowrap">Pay-for-Performance</FONT>
    Distributors Management Agreement.</I></B>&#160;&#160;Pursuant
    to the Baidu P4P distributors management agreement between Baidu
    Netcom and Baidu Online, Baidu Netcom, on behalf of Baidu
    Online, manages the marketing distributors in Beijing to promote
    P4P services and its derivative products and services. The term
    of this agreement is one year from the date thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Business Cooperation
    Agreement.</I></B>&#160;&#160;Pursuant to the business
    cooperation agreement between Baidu Netcom and Baidu Online,
    Baidu Netcom provides Internet information services, Internet
    advertising services and related services to Baidu Online to
    enable Baidu Online to provide P4P services on the websites
    owned and operated by Baidu Netcom, and Baidu Online provides
    search engine technology services to Baidu Netcom. The term of
    this agreement is ten years from the date thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Operating Agreement.</I></B>&#160;&#160;Pursuant to the
    operating agreement among Baidu Online, Baidu Netcom and the
    shareholders of Baidu Netcom, Baidu Online provides guidance and
    instructions on Baidu Netcom&#146;s daily operations and
    financial affairs. The shareholders of Baidu Netcom must
    designate the candidates recommended by Baidu Online as their
    representatives on Baidu Netcom&#146;s board of directors. Baidu
    Online has the right to appoint senior executives of Baidu
    Netcom. In addition, Baidu Online agrees to guarantee Baidu
    Netcom&#146;s performance under any agreements or arrangements
    relating to Baidu Netcom&#146;s business arrangements with any
    third party. Baidu Netcom, in return, agrees to pledge its
    accounts receivable and all of its assets to Baidu Online.
    Moreover, Baidu Netcom agrees that without the prior consent of
    Baidu Online, Baidu Netcom will not engage in any transactions
    that could materially affect the assets, liabilities, rights or
    operations of Baidu Netcom, including, without limitation,
    incurrence or assumption of any indebtedness, sale or purchase
    of any assets or rights, incurrence of any encumbrance on any of
    its assets or intellectual property rights in favor of a third
    party or transfer of any agreements relating to its business
    operation to any third party. The term of this agreement is ten
    years from the date thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Software License Agreement.</I></B>&#160;&#160;Under the
    software license agreement and its later amendments, Baidu
    Online granted Baidu Netcom a non-exclusive, non-assignable and
    non-transferable right to use &#147;Baidu Chinese Search
    Engine&#148; and &#147;Baidu Internet P4P System&#148; software.
    Baidu Netcom can only use the software on its designated
    operating systems to process its internal data. Baidu Online has
    exclusive rights to set the annual license fee and to determine
    the method to calculate such fee. The initial term of the
    license agreement was five years from the date thereof and has
    been extended for another five years.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Other License Agreements.</I></B>&#160;&#160;Under these
    license agreements and their respective later amendments, Baidu
    Online granted Baidu Netcom the exclusive right to use the
    registered domain names and trademarks owned by Baidu Online and
    the web layout owned by Baidu Online for the websites operated
    by Baidu Netcom. Baidu Online
</DIV>
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    <BR>
    57
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    has exclusive rights to set the annual license fee and to
    determine the method to calculate such fee. The initial term of
    each license agreement was five years from the date thereof and
    has been extended for another five years. The domain name
    license agreement was extended for another five years in 2010.
    After the transfers of certain trademarks (including pending
    trademark applications) from Baidu Online to Baidu Netcom are
    completed, the trademark license agreement will be amended or
    terminated. We do not expect the termination of these license
    agreements to have any material effect on our operations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Proxy Agreement.</I></B>&#160;&#160;Pursuant to the proxy
    agreement among Baidu Online, Baidu Netcom and the shareholders
    of Baidu Netcom, the shareholders of Baidu Netcom agree to
    entrust all the rights to exercise their voting power to the
    person(s) appointed by Baidu Online. The term of the proxy
    agreement is 10&#160;years from the date thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Equity Pledge Agreement.</I></B>&#160;&#160;Under the
    equity pledge agreement between the shareholders of Baidu Netcom
    and Baidu Online, the shareholders of Baidu Netcom pledged all
    of their equity interests in Baidu Netcom to Baidu Online to
    guarantee their obligations under the loan agreement and Baidu
    Netcom&#146;s performance of its obligations under the exclusive
    technology consulting and service agreement. If Baidu Netcom or
    either of its shareholders breaches its respective contractual
    obligations, Baidu Online, as pledge, will be entitled to
    certain rights, including the right to sell the pledged equity
    interests. The shareholders of Baidu Netcom agreed not to
    dispose of the pledged equity interests or take any actions that
    would prejudice Baidu Online&#146;s interest. The equity pledge
    agreement will expire two years after expiration of the term for
    fulfillment by Baidu Netcom and its shareholders of their
    respective obligations under the exclusive technology consulting
    and service agreement and the loan agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Exclusive Equity Purchase Option
    Agreement.</I></B>&#160;&#160;Under the exclusive equity
    purchase option agreement and its later amendments between the
    shareholders of Baidu Netcom and Baidu Online, the shareholders
    of Baidu Netcom irrevocably granted Baidu Online or its
    designated person an exclusive option to purchase, to the extent
    permitted under PRC law, all or part of the equity interests in
    Baidu Netcom for the cost of the initial contributions to the
    registered capital or the minimum amount of consideration
    permitted by applicable PRC law. Baidu Online or its designated
    person has sole discretion to decide when to exercise the
    option, whether in part or in full. Baidu Online or its
    designated person is the sole beneficiary of any dividends or
    any other form of the income received by Baidu Netcom. Baidu
    Online shall provide unconditional financial support to Baidu
    Netcom, if in the normal operation of business, Baidu Netcom
    shall become in need of any form of reasonable financial
    support. If Baidu Netcom were to incur any loss and as a result
    cannot repay any loans from Baidu Online, Baidu Online shall
    unconditionally forgive any such loans to Baidu Netcom given
    that Baidu Netcom provides sufficient proof for its loss and
    incapacity to repay. The term of this agreement is ten years
    from the date thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Loan Agreement.</I></B>&#160;&#160;Under the loan
    agreement between the shareholders of Baidu Netcom and Baidu
    Online, the parties confirmed that Baidu Online had made an
    RMB2.0&#160;million interest-free loan to the shareholders of
    Baidu Netcom solely for the latter to fund the capitalization of
    Baidu Netcom. The loan can be repaid only with the proceeds from
    sale of the shareholder&#146;s equity interest in Baidu Netcom
    to Baidu Online. The term of the agreement is ten years from the
    date thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Irrevocable Power of Attorney.</I></B>&#160;&#160;The
    shareholders of Baidu Netcom have each executed an irrevocable
    power of attorney to appoint Xuyang Ren as their
    attorney-in-fact to vote on their behalf on all Baidu Netcom
    matters requiring shareholder approval. The appointment of
    Xuyang Ren as attorney-in-fact will terminate if Xuyang Ren is
    no longer employed by Baidu Online. The term of the power of
    attorney is ten years from the date thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In February 2006 and March 2008, we extended two additional
    interest-free loans of RMB8.0&#160;million and
    RMB90.0&#160;million, respectively, to Robin Yanhong Li for the
    sole purpose of increasing the registered capital of Baidu
    Netcom. In connection with each loan, we entered into the
    following agreements with Mr.&#160;Li:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a loan agreement;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an equity pledge agreement between Robin Yanhong Li and Baidu
    Online;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an exclusive equity purchase option agreement among Robin
    Yanhong Li, Baidu Netcom and Baidu Online.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The terms of these agreements are similar to the terms of the
    original agreements between Baidu Online and the shareholders of
    Baidu Netcom entered into in March 2005. In addition, under the
    terms of the original proxy
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    58
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    agreement entered into in March 2005, Mr.&#160;Li is required to
    entrust all the rights to exercise the additional voting power
    he acquired as a result of his additional investment in the
    registered capital of Baidu Netcom to the person(s) appointed by
    Baidu Online.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Contractual
    Arrangements with Beijing Perusal and Its Shareholders</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In June 2006, we assisted in establishing Beijing Perusal.
    Jiping Liu and Yazhu Zhang, two persons designated by our
    company, hold 80% and 20% of the equity interests in Beijing
    Perusal respectively. We extended an interest-free loan in an
    aggregate amount of RMB1.0&#160;million to the shareholders of
    Beijing Perusal solely in connection with the initial
    capitalization of Beijing Perusal. We entered into a series of
    agreements with Beijing Perusal and its shareholders in order to
    be the primary beneficiary of, and substantially control,
    Beijing Perusal. Beijing Perusal became our consolidated
    affiliated entity as a result of these contractual arrangements.
    Beijing Perusal holds the necessary permits to conduct online
    advertising services in China.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our agreements with Beijing Perusal and its shareholders include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    loan agreements for interest-free loans in an aggregate amount
    of RMB1.0&#160;million to the shareholders of Beijing Perusal;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    equity pledge agreements between the shareholders of Beijing
    Perusal and Baidu Online;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    exclusive equity purchase option agreements among Beijing
    Perusal, Baidu Online and the shareholders of Beijing Perusal;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a proxy agreement between the shareholders of Beijing Perusal
    and Baidu Online;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an exclusive technology consulting and services agreement
    between Beijing Perusal and Baidu Online;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an operating agreement among Beijing Perusal, Baidu Online, and
    the shareholders of Beijing Perusal;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    irrevocable power of attorney appointments by the shareholders
    of Beijing Perusal to appoint Xuyang Ren as their
    attorney-in-fact to vote on their behalf on all Beijing Perusal
    matters requiring shareholder approval;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    various license agreements between Beijing Perusal and Baidu
    Online, including domain name license agreements, trademark
    license agreements and web page copyright license agreements.
    The domain name license agreement was terminated in May 2008
    because Beijing Perusal already owns the domain names primarily
    used in its business. After the transfers of certain pending
    trademark applications from Baidu Online to Beijing Perusal are
    completed, the trademark license agreement will be terminated.
    We do not expect the termination of these license agreements to
    have any material effect on our operations.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The terms of these contractual arrangements are similar to the
    terms of our contractual arrangements with Baidu Netcom and its
    shareholders.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Contractual
    Arrangements with BaiduPay and Its Individual
    Shareholder</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In February 2008, we assisted in establishing BaiduPay. Baidu
    Netcom, our consolidated affiliated entity, holds 91% of the
    equity interests in BaiduPay, and the remaining 9% of the equity
    interests is held by Hu Cai, a current employee of our company.
    We extended an interest-free loan in an aggregate amount of
    RMB9.0&#160;million to the individual shareholder solely in
    connection with the initial capitalization of BaiduPay. We
    entered into a series of agreements with BaiduPay and the
    individual shareholder in order to be the primary beneficiary
    of, and substantially control, BaiduPay. BaiduPay became our
    consolidated affiliated entity as a result of these contractual
    arrangements. BaiduPay operates an online payment platform.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our agreements with BaiduPay and its individual shareholder
    include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a loan agreement for interest-free loan in an aggregate amount
    of RMB9.0&#160;million to the individual shareholder of BaiduPay;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an equity pledge agreement between the individual shareholder of
    BaiduPay and Baidu Online;
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    59
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an exclusive equity purchase option agreement and its amendments
    among BaiduPay, Baidu Online and the individual shareholder of
    BaiduPay;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a proxy agreement between the individual shareholder of BaiduPay
    and Baidu Online;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an exclusive technology consulting and services agreement
    between BaiduPay and Baidu Online;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    operating agreement among BaiduPay, Baidu Online and the
    shareholders of BaiduPay;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    irrevocable power of attorney appointments by the shareholders
    of BaiduPay to appoint Haoyu Shen as their attorney-in-fact to
    vote on their behalf on all BaiduPay matters requiring
    shareholder approval;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a trademark license agreement and a web page copyright license
    agreement between BaiduPay and Baidu Online. After the transfer
    of a pending trademark application from Baidu Online to BaiduPay
    is completed, the trademark license agreement will be
    terminated. We do not expect the termination of this agreement
    to have any material effect on our operations.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The terms of these contractual arrangements are similar to the
    terms of our contractual arrangements with Baidu Netcom and its
    shareholders.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Contractual
    Arrangements with Baidu HR and Its Individual
    Shareholder</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2010, we assisted in establishing Baidu HR. Robin
    Yanhong Li is the sole shareholder of Baidu HR. We extended an
    interest-free loan in an aggregate amount of
    RMB50.0&#160;million to Robin Yanhong Li solely in connection
    with the initial capitalization of Baidu HR. We entered into a
    series of agreements with Baidu HR and its shareholder in order
    to be the primary beneficiary of, and substantially control,
    Baidu HR. Baidu HR became our consolidated affiliated entity as
    a result of these contractual arrangements. Baidu HR&#146;s
    business plan is to provide integrated human resource services
    in China, mainly focused on recruitment related services.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our agreements with Baidu HR and its individual shareholder
    include:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a loan agreement for interest-free loan in an aggregate amount
    of RMB50.0&#160;million to the individual shareholder of Baidu
    HR;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an equity pledge agreement between the individual shareholder of
    Baidu HR and Baidu Online;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an exclusive equity purchase option agreement among Baidu HR,
    Baidu Online and the individual shareholder of Baidu HR;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a proxy agreement between the individual shareholder of Baidu HR
    and Baidu Online;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an exclusive technology consulting and services agreement
    between Baidu HR and Baidu Online;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    operating agreement among Baidu HR, Baidu Online and the
    individual shareholder of Baidu HR.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The terms of these contractual arrangements are similar to the
    terms of our contractual arrangements with Baidu Netcom and its
    shareholders.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">D.&#160;&#160;<U>Property,
    Plant and Equipment</U></FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In November 2009, we moved into Baidu Campus, our new corporate
    headquarters located in Shangdi, an area designated by the
    Beijing municipal government as the center of the city&#146;s
    information technology industry. The new facility occupies
    91,500&#160;square meters of gross floor area and currently
    houses our principal executive offices, information and
    technology center, as well as administrative and support
    departments, and approximately 4,700 of our employees. We own
    the land use right to the land on which Baidu Campus was built.
    We have offices in Beijing, Tokyo (Japan), California (USA) and
    branch offices in Beijing, Shanghai and selected cities in
    Guangdong Province, where we lease premises from unrelated third
    parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We host our servers in China at the Internet data centers of
    China Telecom and China Unicom in Beijing and Tianjin, and we
    also have content delivery network locations in various cities
    across China. In addition, we expect to use a major data center
    located in southern China in 2011.
</DIV>
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    <BR>
    60
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<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We commenced construction of our first self-owned data center in
    September 2010. This data center, located in Beijing, is
    expected to be ready for operation in 2011.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We currently host our servers in Japan at Internet data centers
    operated by Olympus Business Creation Corp. and Computer
    Engineering&#160;&#038; Consulting, Ltd., the latter of which
    will be phased out, as we gradually migrate our servers to the
    data center operated by Olympus Business Creation Corp.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;4A.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360108'></A><B><FONT style="font-family: 'Times New Roman', Times">Unresolved
    Staff Comments</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    None.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="8%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;5.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360109'></A><B><FONT style="font-family: 'Times New Roman', Times">Operating
    and Financial Review and Prospects</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following discussion of our financial condition and results
    of operations is based upon, and should be read in conjunction
    with, our consolidated financial statements and the related
    notes included in this annual report on
    <FONT style="white-space: nowrap">Form&#160;20-F.</FONT>
    This report contains forward-looking statements. See
    &#147;Forward-Looking Information.&#148; In evaluating our
    business, you should carefully consider the information provided
    under the caption &#147;Item&#160;3.D. Key
    Information&#160;&#151; Risk Factors&#148; in this annual report
    on
    <FONT style="white-space: nowrap">Form&#160;20-F.</FONT>
    We caution you that our businesses and financial performance are
    subject to substantial risks and uncertainties.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">A.&#160;&#160;<U>Operating
    Results</U></FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Overview</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our operations are primarily based in China, where we derive
    almost all of our revenues. Total revenues in 2010 were
    RMB7.9&#160;billion (US$1.2&#160;billion), a 78.0% increase over
    2009. Operating profit in 2010 was RMB4.0&#160;billion
    (US$599.8&#160;million), a 146.7% increase over 2009. Net income
    in 2010 was RMB3.5&#160;billion (US$534.1&#160;million), a
    137.4% increase over 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our total assets as of December&#160;31, 2010 were
    RMB11.0&#160;billion (US$1.7&#160;billion), of which cash and
    cash equivalent amounted to RMB7.8&#160;billion
    (US$1.2&#160;billion). Our total liabilities were
    RMB2.6&#160;billion (US$400.4&#160;million), accounting for
    23.9% of total liabilities and shareholders&#146; equity. As of
    December&#160;31, 2010, our retained earnings accumulated to
    RMB7.0&#160;billion (US$1.1&#160;billion).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The major factors affecting our results of operations and
    financial condition are discussed below.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Revenues</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Revenue
    Generation</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We derive almost all of our revenues from online marketing
    services, which accounted for approximately 99.9%, 99.9% and
    100.0% of our total revenues in 2008, 2009 and 2010,
    respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A substantial majority of our revenues from online marketing
    services were derived from our P4P services.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our P4P platform is an online marketplace that introduces
    Internet search users to customers who pay us a fee based on
    click-throughs for priority placement of their links in the
    search results. We recognize P4P revenues when a user clicks on
    a customer&#146;s link in the search results, based on the
    amount that the customer has agreed to pay for each
    click-through.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We also provide to our customers other performance-based online
    marketing services and time-based online advertising services.
    For other performance-based online marketing services, our
    customers pay us based on performance criteria other than
    click-throughs, such as the number of telephone calls brought to
    our customers, the number of users registered with our
    customers, or the number of minimum click-throughs; while for
    time-based online advertising services, our customers pay us
    based on duration of the advertisement placed on our websites.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The most significant factors that directly or indirectly affect
    our online marketing revenues are:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the number of our users and online marketing customers;
</TD>
</TR>

</TABLE>
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    <BR>
    61
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the number of searches initiated on our websites and our Baidu
    Union members&#146; properties;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the rate at which users click on paid search results;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the competitiveness of bidding for keywords by P4P customers;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the total online marketing budgets of our customers;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the total number of sponsored links and advertisements displayed
    on our websites and the bidding price for each click-through.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our P4P services revenues have primarily been driven by the
    increase in the number of page views, the increase in the number
    of P4P customers, and by our success in optimizing the display
    of sponsored links. We believe that an increase in the number of
    active P4P customers generally leads to an increase in the
    number of sponsored links and a higher average price per
    click-through for selected keywords. Our P4P customer growth has
    primarily been driven by the adoption of our P4P services by
    SMEs and, to a lesser extent, large enterprises.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2009, we completed the switch from our previous
    online marketing system, i.e., Online Marketing Classic Edition,
    to Phoenix Nest. If Phoenix Nest is perceived to be a less
    effective marketing tool than Online Marketing Classic Edition,
    we may lose existing customers or encounter difficulty
    attracting new customers and, as a result, our future revenues
    could be materially and adversely affected.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our online marketing services have historically been driven by
    the general increase in our customers&#146; online marketing
    budgets. We expect the number of our online marketing customers
    to grow and, as a result, our customer mix may change. However,
    we expect our online marketing customer base to remain diverse
    for the foreseeable future. Any prolonged economic slowdown in
    China may cause our customers to decrease or delay their online
    marketing spending, hamper our efforts to grow our customer
    base, or result in fewer clicks by our users on sponsored links
    or advertisements displayed on our or Baidu Union members&#146;
    websites. Any of these consequences could negatively affect our
    online marketing revenues.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our online marketing customers are increasingly seeking
    marketing solutions with measurable results in order to maximize
    their ROI. To meet our customers&#146; needs, we will continue
    to evaluate the effectiveness of our various products and
    services and adjust the mix of our service offerings to optimize
    our customers&#146; ROI. We expect that we will continue to earn
    a substantial majority of our revenues from our online marketing
    services. As a result, we plan to continue focusing most of our
    resources on expanding our online marketing services.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Prior to July 2006, we had provided enterprise search software
    and related services. We decided to phase out our enterprise
    search software business in July 2006. This phase-out was
    completed in 2008. In 2010, the revenues recognized for all
    other services account for 0.03% of our total revenues.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Revenue
    Collection</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We collect payments for our P4P services both from our customers
    directly and through our distributors. We have expanded our
    direct sales effort in several cities in China, including
    Beijing, Shanghai, Guangzhou, Shenzhen and Dongguan, and as a
    result, P4P payments collected through our direct sales have
    been increasing. We require our P4P customers to pay a deposit
    before using our P4P services and remind them by an automated
    notice to replenish the accounts after their account balance
    falls below a designated amount. We deduct the amount due to us
    from the deposit paid by a customer when a user clicks on the
    customer&#146;s link in the search results.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We offer payment terms to some of our customers of other
    performance-based online marketing services and time-based
    online advertising services. In addition, we offer longer
    payment terms to certain qualified distributors, consistent with
    industry practice.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of December&#160;31, 2010, we had accounts receivable of
    RMB296.9&#160;million (US$45.0&#160;million), net of allowance
    of RMB2.2&#160;million (US$0.3&#160;million), mainly due from
    customers of other performance-based online marketing services
    and time-based online advertising services.
</DIV>
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    <BR>
    62
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Operating
    Costs and Expenses</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our operating costs and expenses consist of cost of revenues,
    selling, general and administrative expenses, and research and
    development expenses. Share-based compensation expenses are
    allocated among the above three categories of operating costs
    and expenses, based on the nature of the work of the employees
    who have received share-based compensation. Costs and expenses
    related to our Japan operations, which started in December 2006,
    are included in our cost of revenues, selling, general and
    administrative expenses and research and development expenses.
    Our total operating costs and expenses increased significantly
    from 2008 to 2010 due to the growth of our business.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Cost
    of Revenues</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth the components of our cost of
    revenues both in absolute amount and as a percentage of total
    revenues for the periods indicated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="33%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="26" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Year Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="26" align="center" valign="bottom">
    <B>(In thousands, except percentages)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,198,252
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,447,776
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,915,074
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,199,254
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Cost of revenues:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Business tax and surcharges
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (200,085
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6.2
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (275,924
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6.2
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (504,846
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (76,492
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6.4
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Traffic acquisition costs
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (418,474
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (13.1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (697,673
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (15.7
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (758,078
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (114,860
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (9.6
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Bandwidth costs
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (178,651
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5.6
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (203,927
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4.6
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (310,540
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (47,052
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3.9
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Depreciation of servers and other equipment
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (225,799
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (7.1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (250,969
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5.6
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (331,685
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (50,255
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4.2
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Operational costs
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (127,906
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4.0
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (181,369
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4.1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (237,837
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (36,036
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3.0
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Share-based compensation expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,542
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (0.1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6,374
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (0.1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6,302
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (955
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (0.1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total cost of revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,155,457
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (36.1
</TD>
<TD nowrap align="left" valign="bottom">
    )%
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,616,236
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (36.3
</TD>
<TD nowrap align="left" valign="bottom">
    )%
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,149,288
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (325,650
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (27.2
</TD>
<TD nowrap align="left" valign="bottom">
    )%
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Traffic Acquisition Costs.</I>&#160;&#160;Traffic acquisition
    costs represent the portion of our online marketing revenues
    that we share with our Baidu Union members. We typically pay a
    Baidu Union member, based on a pre-agreed arrangement, a portion
    of the online marketing revenues generated from valid
    click-throughs by users of that member&#146;s properties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Bandwidth Costs.</I>&#160;&#160;Bandwidth costs are the fees
    we pay to telecommunications carriers such as China Telecom and
    China Unicom for telecommunications services and for hosting our
    servers at their Internet data centers. We expect our bandwidth
    costs, as variable costs, to increase with the increasing number
    of servers and the traffic on our websites. Our bandwidth costs
    could also increase if the telecommunications carriers increase
    their service charges.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Depreciation of Servers and Other
    Equipment.</I>&#160;&#160;We include depreciation expenses
    within our cost of revenues for servers and other computer
    hardware that are directly related to our business operations
    and technical support.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Operational Costs.</I>&#160;&#160;Operational costs include
    primarily salary and benefit expenses and travel and other
    expenses incurred by our operating and technical support
    personnel. Salary and benefit expenses include wages, bonuses,
    medical insurance, unemployment insurance, pension benefits,
    employee housing fund and other welfare benefits.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    63
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Operating
    Expenses</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth the components of our operating
    expenses both in absolute amount and as a percentage of total
    revenues for the periods indicated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="33%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="26" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Year Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="26" align="center" valign="bottom">
    <B>(In thousands, except percentages)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,198,252
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,447,776
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,915,074
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,199,254
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Cost of revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,155,457
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (36.1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,616,236
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (36.3
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,149,288
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (325,650
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (27.2
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Selling, general and administrative
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (659,804
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (20.6
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (803,988
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (18.1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,088,980
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (164,997
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (13.7
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Selling and marketing
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (452,245
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (14.1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (573,088
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (12.9
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (778,353
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (117,932
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (9.8
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    General and administrative
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (207,559
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6.5
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (230,900
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5.2
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (310,627
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (47,065
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3.9
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Research and development
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (286,256
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (9.0
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (422,615
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (9.5
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (718,038
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (108,794
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (9.1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total costs and operating expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,101,517
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (65.7
</TD>
<TD nowrap align="left" valign="bottom">
    )%
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,842,839
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (63.9
</TD>
<TD nowrap align="left" valign="bottom">
    )%
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,956,306
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (599,441
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (50.0
</TD>
<TD nowrap align="left" valign="bottom">
    )%
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Selling,
    General and Administrative Expenses</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our selling and marketing expenses primarily consist of salaries
    and benefits and commissions for our sales and marketing
    personnel and promotional and marketing expenses. We expect to
    incur higher selling and marketing expenses as we intensify our
    brand-promotion efforts. To the extent that our direct sales
    force sells a greater proportion of our online marketing
    services, we expect that our selling expenses will increase as a
    result of increased sales commissions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our general and administrative expenses primarily consist of
    salaries and benefits for our general and administrative
    personnel and fees and expenses for legal, accounting and other
    professional services.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><FONT style="font-family: 'Times New Roman', Times">Research
    and Development Expenses</FONT></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Research and development expenses primarily consist of salaries
    and benefits for research and development personnel. We expense
    research and development costs as they are incurred, except for
    capitalized software development costs that fulfill the
    capitalization criteria under Accounting Standards Codification,
    or ASC, subtopic
    <FONT style="white-space: nowrap">350-40,</FONT>
    <I>Intangibles-Goodwill and Other: Internal-Use Software.</I>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Share-based
    Compensation Expenses</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We grant options to our employees as a type of share-based
    compensation award. As of December&#160;31, 2010, there was
    RMB51.3&#160;million (US$7.8&#160;million) unrecognized
    share-based compensation cost related to options, which is
    expected to be recognized over a weighted-average vesting period
    of 2.9&#160;years. To the extent the actual forfeiture rate is
    different from our original estimate, actual share-based
    compensation cost related to these awards may be different from
    our expectation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition to options, we started awarding restricted shares to
    employees in 2006. As of December&#160;31, 2010, there was
    RMB162.5&#160;million (US$24.6&#160;million) unrecognized
    share-based compensation cost related to restricted shares,
    which is expected to be recognized over a weighted-average
    vesting period of 2.7&#160;years. To the extent the actual
    forfeiture rate is different from our original estimate, actual
    share-based compensation cost related to these awards may be
    different from our expectation.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    64
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth the allocation of our share-based
    compensation expenses both in absolute amount and as a
    percentage of total share-based compensation expenses among our
    employees based on the nature of work which they were assigned
    to perform.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="48%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="26" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Year Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="26" align="center" valign="bottom">
    <B>(In thousands, except percentages)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Allocation of Share-based Compensation Expenses</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Cost of revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,542
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5.4
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,374
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.4
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,302
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    955
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.7
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Selling, general and administrative
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41,651
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    49.6
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38,681
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    36,811
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,577
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39.3
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Research and development
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,784
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    47.8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50,623
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,670
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    54.0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total share-based compensation expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    83,977
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    86,318
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    93,736
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,202
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Depreciation
    Expenses of Baidu Campus</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Depreciation expenses of Baidu Campus are allocated into cost of
    revenues and operating expenses based on the function of the
    operating units benefiting from the use of the premises. With
    our move into Baidu Campus and the termination of certain prior
    leasing contracts, our leasing expenses decreased by 8.9% in
    2010 from 2009.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Taxation</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the current laws of the Cayman Islands and the British
    Virgin Islands, we and our direct subsidiary Baidu Holdings
    Limited are not subject to income or capital gains tax. Under
    the current laws of Hong Kong, Baidu (Hong Kong) Limited is
    exempted from income tax on its foreign-derived income.
    Additionally, dividend payments made by any of these companies
    are not subject to withholding tax in those jurisdictions.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">PRC
    Enterprise Income Tax</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the applicable PRC tax laws and regulations
    effective before January&#160;1, 2008, foreign-invested
    enterprises established in China were generally subject to a
    state and local enterprise income tax, or EIT, at statutory
    rates of 30% and 3%, respectively. An enterprise qualified as a
    &#147;High and New Technology Enterprise&#148; and located in a
    &#147;National High-Tech Development Zone&#148; was entitled to
    a preferential EIT rate of 15%. In addition, an enterprise
    qualified as a &#147;High and New Technology Enterprise&#148;
    located in the Beijing New Technology Industry Development Zone
    was entitled to a preferential EIT rate of 15% and would enjoy
    an exemption from the EIT for the first three years of its
    establishment and, upon approval, a 50% reduction of the EIT for
    the succeeding three years.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu Times, which was a certified foreign-invested High and New
    Technology Enterprise located in Beijing Zhongguancun Science
    Park (part of the Beijing New Technology Industry Development
    Zone), was entitled to a three-year exemption from EIT from 2006
    to 2008 and a 7.5% EIT rate for another three years from 2009 to
    2011, followed by a 15% tax rate so long as it continued to
    qualify as a High and New Technology Enterprise. Baidu China was
    granted &#147;software enterprise&#148; status by the Shanghai
    Municipal Information Commission in 2006 and thus was entitled
    to a full exemption from EIT from 2006 to 2007 and a 50% tax
    reduction from 2008 to 2010.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On March&#160;16, 2007, the National People&#146;s Congress of
    China enacted the Enterprise Income Tax Law, or the EIT Law,
    which became effective on January&#160;1, 2008. On
    December&#160;6, 2007, the State Council issued the
    Implementation Rules of the Enterprise Income Tax Law, or the
    Implementation Rules, which also became effective on
    January&#160;1, 2008. On December&#160;26, 2007, the State
    Council issued the Notice on Implementation of Enterprise Income
    Tax Transition Preferential Policy under the EIT Law, or the
    Transition Preferential Policy Circular, which became effective
    simultaneously with the EIT Law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    According to the EIT Law, as further clarified by the
    Implementation Rules and the Transition Preferential Policy
    Circular, foreign-invested enterprises and domestic enterprises
    are subject to EIT at a uniform rate of 25%. The EIT rate of the
    enterprises established before March&#160;16, 2007 that were
    eligible for preferential tax rate
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    according to then effective tax laws and regulations will
    gradually transition to the uniform 25% EIT rate by
    January&#160;1, 2013. In addition, certain enterprises may still
    benefit from a preferential tax rate of 15% under the EIT Law if
    they qualify as &#147;High and New Technology Enterprises
    strongly supported by the state,&#148; subject to certain
    general factors described therein.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the Notice on Several Preferential Policies in Respect of
    Enterprise Income Tax promulgated jointly by the Ministry of
    Finance and the State Administration of Taxation on
    February&#160;22, 2008, or the Caishui No.&#160;1 Notice, other
    than the preferential EIT treatments specified under the EIT
    Law, the Implementation Rules and certain other tax regulations,
    all preferential EIT treatments granted prior to January&#160;1,
    2008 are eliminated. On April&#160;24, 2009, the Ministry of
    Finance and the State Administration of Taxation jointly
    promulgated Caishui Circular 69. According to Caishui Circular
    69, subject to verification, a qualified software enterprise
    established prior to January&#160;1, 2008&#160;may continue to
    enjoy the tax holidays previously granted to it as a
    &#147;software enterprise.&#148; Where the software enterprise
    had already started to enjoy its tax holidays before 2008, it
    may continue to enjoy the remaining tax holidays from 2008 until
    the expiration of such tax holidays. Therefore, Baidu China may
    continue to enjoy a 50% reduced EIT rate from 2008 to 2010 as a
    &#147;software enterprise.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On April&#160;14, 2008, the Ministry of Science and Technology,
    the Ministry of Finance and the State Administration of Taxation
    jointly issued the Administrative Measures on the Recognition of
    High and New Technology Enterprises, or the Recognition Rules,
    effective on January&#160;1, 2008. According to the Recognition
    Rules, the provincial counterparts of the Ministry of Science
    and Technology, the Ministry of Finance and the State
    Administration of Taxation shall jointly determine whether an
    enterprise is qualified as a high and new technology enterprise
    under the EIT Law. In making such determination, these
    government agencies shall consider, among other factors,
    ownership of core technology, whether the products or services
    fall within the scope of high and new technology strongly
    supported by the state as specified in the Recognition Rules,
    the ratios of technical personnel and research and development
    (R&#038;D) personnel to total personnel, the ratio of R&#038;D
    expenditures to annual sales revenues, the ratio of revenues
    attributed to high and new technology products or services to
    total revenues, and other measures set forth in relevant
    guidance.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2008, our PRC subsidiaries Baidu Online and Baidu
    Times were designated by relevant government authorities as
    &#147;High and New Technology Enterprise&#148; under the EIT
    Law. In February 2009, Baidu Online and Baidu Times received the
    High and New Technology Enterprise certificates jointly issued
    by the Beijing Municipal Science and Technology Commission, the
    Beijing Finance Bureau, and the Beijing State and Local Tax
    Bureaus. Therefore, Baidu Online and Baidu Times are entitled to
    enjoy a preferential tax rate of 15% as long as they maintain
    their qualification as &#147;High and New Technology
    Enterprise&#148; under the EIT Law. In addition, Baidu Times
    will continue to benefit from the remaining tax holidays granted
    to it under the applicable PRC tax laws and regulations
    effective before January&#160;1, 2008.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Furthermore, in February 2011, Baidu Online was announced as a
    &#147;Key Software Enterprise&#148; jointly by the National
    Development and Reform Commission, Ministry of Industry and
    Information Technology of the People&#146;s Republic of China,
    Ministry of Commerce of the People&#146;s Republic of China, and
    State Administration of Taxation, which entitled it to enjoy a
    preferential income tax rate of 10% in 2010. The status as a
    &#147;Key Software Enterprise&#148; is subject to an annual
    assessment by the relevant governmental authorities in China.
    Consequently, there is no assurance that Baidu Online will
    continue to maintain the status in the future.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If Baidu Online or Baidu Times fails to maintain the &#147;High
    and New Technology Enterprise&#148; qualification under the EIT
    Law, or if Baidu China fails to maintain the qualification as a
    &#147;software enterprise&#148;, their tax rates will increase,
    which could have a material adverse effect on our results of
    operations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the EIT Law and the Implementation Rules, dividends,
    interests, rent or royalties payable by a foreign-invested
    enterprise, such as our PRC subsidiaries, to any of its foreign
    non-resident enterprise investors, and proceeds from the
    disposition of assets (after deducting the net value of such
    assets) by such foreign enterprise investor, shall be subject to
    a 10% withholding tax unless such foreign enterprise
    investor&#146;s jurisdiction of incorporation has a tax treaty
    with China that provides for a reduced rate of withholding. The
    Caishui No.&#160;1 Notice issued on February&#160;22, 2008
    further clarifies that undistributed profits earned by
    foreign-invested enterprises prior to January&#160;1, 2008 will
    be exempted from any withholding tax.
</DIV>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The British Virgin Islands, where Baidu Holdings Limited, the
    sole shareholder of our PRC subsidiary Baidu Online, was
    incorporated, does not have such a tax treaty with China. Baidu
    (Hong Kong) Limited, our wholly owned subsidiary and the sole
    shareholder of our PRC subsidiaries Baidu China and Baidu Times,
    was incorporated in Hong Kong, which has a tax treaty with China
    that provides for a lower withholding tax rate of 5% under
    certain conditions. However, the State Administration of
    Taxation promulgated Notice on How to Understand and Determine
    the Beneficial Owners in Tax Conventions on October&#160;27,
    2009, or SAT Circular 601, which provides guidance for
    determining whether a resident of a contracting state is the
    &#147;beneficial owner&#148; with respect to dividend, interest
    and royalty income under China&#146;s tax treaties and tax
    arrangements. According to SAT Circular 601, a beneficial owner
    shall have ownership and right to dispose of the income or the
    rights and properties giving rise to such income. A beneficial
    owner generally engages in substantive business activities. An
    agent or conduit company will not be regarded as a beneficial
    owner and, therefore, will not qualify for treaty benefits. The
    conduit company normally refers to a company that is set up
    primarily for the purpose of evading or reducing taxes or
    transferring or accumulating profits.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our PRC subsidiaries historically have not paid dividends to us.
    If they declare and distribute dividends to us in the future,
    such dividend payments will be subject to withholding tax, which
    will increase our tax liability and reduce the amount of cash
    available to our company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the EIT Law and the Implementation Rules, an enterprise
    established outside of the PRC with &#147;de facto management
    bodies&#148; within the PRC is considered a resident enterprise
    and will be subject to the EIT at the rate of 25% on its
    worldwide income payable to the tax authority where such
    &#147;de facto management bodies&#148; locate. The
    Implementation Rules define the term &#147;de facto management
    bodies&#148; as &#147;establishments that carry out substantial
    and overall management and control over the manufacturing and
    business operations, personnel, accounting, properties, etc. of
    an enterprise.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The State Administration of Taxation issued the Notice Regarding
    the Determination of Chinese-Controlled Overseas Incorporated
    Enterprises as PRC Tax Resident Enterprises on the Basis of De
    Facto Management Bodies, or SAT Circular 82, on April&#160;22,
    2009. SAT Circular 82 provides that an overseas registered
    enterprise controlled by a PRC company or a PRC company group
    will be classified as a &#147;resident enterprise&#148; with its
    &#147;de facto management bodies&#148; located within China if
    the following requirements are satisfied: (i)&#160;the senior
    management and core management departments in charge of its
    daily operations function are mainly located in the PRC;
    (ii)&#160;its financial and human resources decisions are
    subject to determination or approval by persons or bodies
    located in the PRC; (iii)&#160;its major assets, accounting
    books, company seals, and minutes and files of its board and
    shareholders&#146; meetings are located or kept in the PRC; and
    (iv)&#160;no less than half of the enterprise&#146;s directors
    or senior management with voting rights reside in the PRC.
    Although SAT Circular 82 only applies to overseas registered
    enterprises controlled by PRC enterprises and not those
    controlled by PRC individuals or foreigners, the determining
    criteria set forth in the circular may reflect the State
    Administration of Taxation&#146;s general position on how the
    &#147;de facto management body&#148; test should be applied in
    determining the tax resident status of offshore enterprises,
    regardless of whether they are controlled by PRC enterprises,
    individuals or foreigners.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If we are deemed a PRC resident enterprise, we may be subject to
    the EIT at 25% on our global income, except that the dividends
    we receive from our PRC subsidiaries may be exempt from the EIT
    to the extent such dividends are deemed &#147;dividends among
    qualified resident enterprises.&#148; If we are considered a
    resident enterprise and earn income other than dividends from
    our PRC subsidiaries, a 25% EIT on our global income could
    significantly increase our tax burden and materially and
    adversely affect our cash flow and profitability.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The EIT Law and the Implementation Rules have made an effort to
    scrutinize transactions between related parties. Pursuant to the
    EIT Law and the Implementation Rules, the tax authorities may
    impose mandatory adjustment on tax due to the extent a related
    party transaction is not in line with arm&#146;s-length
    principle or was entered into with a purpose to reduce, exempt
    or delay the payment of tax. On January&#160;8, 2009, the State
    Administration of Taxation issued the Implementation Measures
    for Special Tax Adjustments (Trial). The measures set forth
    tax-filing disclosure and documentation requirements, clarify
    the definition of &#147;related party&#148;, guide the selection
    and application of transfer pricing methods, and outline the due
    process procedures for transfer pricing investigation and
    assessment.
</DIV>
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    <BR>
    67
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If our PRC subsidiaries no longer qualify for preferential tax
    treatment, we will consider available options under applicable
    law that would enable us to qualify for further preferential tax
    treatment. To the extent we are unable to offset the impact of
    the expiration of our PRC subsidiaries&#146; preferential tax
    treatment with new tax exemptions, tax incentives or other tax
    benefits, the expiration of their preferential tax treatment may
    cause our effective tax rate to increase. The amount of income
    tax payable by our PRC subsidiaries in the future will depend on
    various factors, including, among other things, the results of
    operations and taxable income of, and the statutory tax rate
    applicable to, each of the subsidiaries. Our effective tax rate
    depends partially on the extent of the relative contribution of
    each of our subsidiaries to our consolidated taxable income. In
    2008, 2009 and 2010, our consolidated effective tax rate was
    9.97%, 11.76% and 13.20%, respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If P4P were classified as a form of advertising in the future,
    we may have to conduct our P4P business through Baidu Netcom in
    order to comply with PRC laws and regulations that limit foreign
    ownership of online advertising companies. As a result, our
    consolidated effective tax rate would increase, as Baidu Netcom
    is subject to a 25% statutory enterprise income tax rate as of
    the date of this annual report. However, Baidu Netcom has
    applied for the status of &#147;High and New Technology
    Enterprise,&#148; which, if approved, may reduce the enterprise
    income tax rate to 15%.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">PRC
    Business Tax</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Revenues from our P4P services are subject to a 5% PRC business
    tax. Revenues from our online advertising services are subject
    to business taxes, surcharges and cultural business construction
    fees totaling approximately 8.5% of the online advertising
    revenues. Revenues from our other services are also subject to a
    5% business tax.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">PRC
    Urban Maintenance and Construction Tax and Education
    Surcharge</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    From December&#160;1, 2010, the Tentative Regulations of the
    People&#146;s Republic of China on Urban Maintenance and
    Construction Tax promulgated in 1985 and the Tentative Rules on
    Levy of Education Surcharge promulgated in 1986 by the State
    Council shall be applicable to foreign-invested enterprises,
    foreign enterprises and individual foreigners. Laws,
    regulations, rules and policies on urban maintenance and
    construction tax and education surcharge promulgated by the
    State Council and the finance and tax competent authorities
    under the State Council since 1985 shall be also applicable to
    foreign-invested enterprises, foreign enterprises and individual
    foreigners.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    68
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Results
    of Operations</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth a summary of our consolidated
    results of operations for the periods indicated. Our business
    has evolved rapidly since we commenced operations in 2000. Our
    limited operating history makes it difficult to predict future
    operating results. We believe that
    <FONT style="white-space: nowrap">period-to-period</FONT>
    comparisons of operating results should not be relied upon as
    indicative of future performance.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Year Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Consolidated Statements of Income Data</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Revenues:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Online marketing services
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,194,461
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,445,310
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,912,869
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,198,920
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Other services
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,791
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,466
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,205
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    334
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,198,252
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,447,776
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,915,074
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,199,254
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating costs and
    expenses<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>:

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Cost of revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,155,457
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,616,236
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,149,288
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (325,650
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Selling, general and administrative
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (659,804
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (803,988
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,088,980
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (164,997
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Research and development
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (286,256
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (422,615
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (718,038
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (108,794
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total operating costs and expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,101,517
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,842,839
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,956,306
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (599,441
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating profit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,096,735
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,604,937
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,958,768
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    599,813
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Interest income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    47,677
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,661
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    67,121
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,170
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other income, net, including exchange gains or losses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,767
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45,752
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44,239
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,703
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Loss from equity method investments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (229
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (8,965
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,359
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Taxation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (116,071
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (198,017
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (535,995
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (81,211
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,048,108
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,485,104
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,525,168
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    534,116
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
    <DIV style="font-size: 2pt; margin-left: 0%; width: 44%;  align: left; border-bottom: 1pt solid #000000"></DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    (1)&#160;<I>Share-based compensation expenses:</I>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    <I>Cost of revenues</I>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <I>(4,542</I>
</TD>
<TD nowrap align="left" valign="bottom">
    <I>)</I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <I>(6,374</I>
</TD>
<TD nowrap align="left" valign="bottom">
    <I>)</I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <I>(6,302</I>
</TD>
<TD nowrap align="left" valign="bottom">
    <I>)</I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <I>(955</I>
</TD>
<TD nowrap align="left" valign="bottom">
    <I>)</I>
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    <I>Selling, general and administrative</I>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <I>(41,651</I>
</TD>
<TD nowrap align="left" valign="bottom">
    <I>)</I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <I>(38,681</I>
</TD>
<TD nowrap align="left" valign="bottom">
    <I>)</I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <I>(36,811</I>
</TD>
<TD nowrap align="left" valign="bottom">
    <I>)</I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <I>(5,577</I>
</TD>
<TD nowrap align="left" valign="bottom">
    <I>)</I>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    <I>Research and development</I>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <I>(37,784</I>
</TD>
<TD nowrap align="left" valign="bottom">
    <I>)</I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <I>(41,263</I>
</TD>
<TD nowrap align="left" valign="bottom">
    <I>)</I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <I>(50,623</I>
</TD>
<TD nowrap align="left" valign="bottom">
    <I>)</I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <I>(7,670</I>
</TD>
<TD nowrap align="left" valign="bottom">
    <I>)</I>
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <I>(83,977</I>
</TD>
<TD nowrap align="left" valign="bottom">
    <I>)</I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <I>(86,318</I>
</TD>
<TD nowrap align="left" valign="bottom">
    <I>)</I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <I>(93,736</I>
</TD>
<TD nowrap align="left" valign="bottom">
    <I>)</I>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <I>(14,202</I>
</TD>
<TD nowrap align="left" valign="bottom">
    <I>)</I>
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Year
    Ended December&#160;31, 2010 Compared to Year Ended
    December&#160;31, 2009</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Revenues.</I>&#160;&#160;Our total revenues increased by
    78.0% from RMB4.4&#160;billion in 2009 to RMB7.9&#160;billion
    (US$1.2&#160;billion) in 2010. This increase was due to a
    substantial increase in our revenues from online marketing
    services. Our online marketing revenues increased by 78.0% from
    RMB4.4&#160;billion in 2009 to RMB7.9&#160;billion
    (US$1.2&#160;million) in 2010. This increase was mainly
    attributable to the increase in the number of our online
    marketing customers from approximately 317,000 in 2009 to over
    412,000 in 2010, and the increase in the average revenue per
    customer from approximately RMB14,000 in 2009 to approximately
    RMB19,200 (US$2,909) in 2010. The increase in our online
    marketing customers was mainly due to our effective distribution
    network and our expanded direct sales, especially in Beijing,
    Shanghai, Guangzhou, Shenzhen and Dongguan. The increase in the
    average revenue per customer was primarily attributable to the
    increase in the number of paid clicks and the higher price per
    click as more customers participated in our P4P auction
    platform. The number of paid clicks increased by approximately
    56.1% from 2009 to 2010.
</DIV>
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    <BR>
    69
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<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Operating Costs and Expenses.</I>&#160;&#160;Our total
    operating costs and expenses increased by 39.2% from
    RMB2.8&#160;billion in 2009 to RMB4.0&#160;billion
    (US$599.4&#160;million) in 2010. This increase was primarily due
    to the expansion of our business.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Cost of Revenues.</I>&#160;&#160;Our cost of revenues
    increased by 33.0% from RMB1.6&#160;billion in 2009 to
    RMB2.1&#160;billion (US$325.7&#160;million) in 2010. This
    increase was primarily due to the following factors:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Traffic Acquisition Costs</I>.&#160;&#160;Our traffic
    acquisition costs increased by 8.7% from RMB697.7&#160;million
    in 2009 to RMB758.1&#160;million (US$114.9&#160;million) in
    2010. Traffic acquisition costs represents 9.6% of total
    revenues in 2010, compared to 15.7% in 2009. The decrease in
    traffic acquisition costs as a percentage of total revenues is
    primarily due to Baidu Union&#146;s traffic optimization effort.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Bandwidth Costs and Depreciation Expenses</I>.&#160;&#160;Our
    bandwidth costs increased by 52.3% from RMB203.9&#160;million in
    2009 to RMB310.5&#160;million (US$47.1&#160;million) in 2010.
    Our depreciation expenses of servers and other equipment
    increased by 32.2% from RMB251.0&#160;million in 2009 to
    RMB331.7&#160;million (US$50.3&#160;million) in 2010. The
    absolute increases in these costs were due to the expansion of
    our business. However, these costs in 2010 accounted for a lower
    percentage of total revenues than in 2009. The decreases in
    bandwidth costs and depreciation expenses as percentages of
    total revenues reflect our improved efficiency as well as the
    scalability of our Internet-based business model.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Business Tax and Surcharges</I>.&#160;&#160;Our business tax
    and surcharges increased by 83.0% from RMB275.9&#160;million in
    2009 to RMB504.8&#160;million (US$76.5&#160;million) in 2010,
    primarily as a result of the increase in our online marketing
    revenues.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Operational Costs</I>.&#160;&#160;Our operational costs
    increased by 31.1% from RMB181.4&#160;million in 2009 to
    RMB237.8&#160;million (US$36.0&#160;million) in 2010, primarily
    due to the increase in consumption of durable computer parts in
    our inventory and higher compensation paid to our operation and
    technical support staff.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Selling, General and Administrative
    Expenses.</I>&#160;&#160;Our selling, general and administrative
    expenses increased by 35.4% from RMB804.0&#160;million in 2009
    to RMB1.1&#160;billion (US$165.0&#160;million) in 2010. This
    increase was primarily due to the following factors:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    total salaries and benefits and staff-related expenses increased
    by 36.5% from RMB400.3&#160;million in 2009 to
    RMB546.5&#160;million (US$82.8&#160;million) in 2010, primarily
    due to the increased direct sales headcount to support our
    expanded online marketing services;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    total office operating expenses increased by 27.2% from
    RMB85.5&#160;million in 2009 to RMB108.8&#160;million
    (US$16.5&#160;million) in 2010, primarily as a result of
    increase and expansion of our direct sales offices;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    total traveling, communication and business development expenses
    increased by 23.0% from RMB30.8&#160;million in 2009 to
    RMB37.9&#160;million (US$5.7&#160;million) in 2010, primarily
    due to the increased direct sales headcount and activities to
    support our expanded online marketing services;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    marketing and promotion expenses increased by 35.6% from
    RMB159.0&#160;million in 2009 to RMB215.6&#160;million
    (US$32.7&#160;million) in 2010 primarily due to the increased
    marketing and promotion activities.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The above increases were partially offset by a 4.8% decrease in
    share-based compensation expenses allocated to selling, general
    and administrative expenses from RMB38.7&#160;million in 2009 to
    RMB36.8&#160;million (US$5.6&#160;million) in 2010, primarily
    due to the cancellation of some share-based awards granted to
    our former officers in prior years.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Research and Development Expenses.</I>&#160;&#160;Our
    research and development expenses increased by 69.9% from
    RMB422.6&#160;million in 2009 to RMB718.0&#160;million
    (US$108.8&#160;million) in 2010, primarily due to an increase in
    the number and compensation levels of research and development
    staff.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Operating Profit.</I>&#160;&#160;As a result of the
    foregoing, we generated an operating profit of
    RMB4.0&#160;billion (US$599.8&#160;million) in 2010, a 146.7%
    increase from 2009.
</DIV>
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    <BR>
    70
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Taxation.</I>&#160;&#160;Our income tax expenses increased by
    170.7% from RMB198.0&#160;million in 2009 to
    RMB536.0&#160;million (US$81.2&#160;million) in 2010, primarily
    due to the significant increase in profit before tax in 2010.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Other income, net, including exchange gains or
    losses.</I>&#160;&#160;Our other income, net, including exchange
    gains or losses was RMB44.2&#160;million (US$6.7&#160;million)
    in 2010, compared to RMB45.8&#160;million in 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Net Income.</I>&#160;&#160;As a result of the foregoing, we
    had net income of RMB3.5&#160;billion (US$534.1&#160;million) in
    2010, a 137.4% increase from RMB1.5&#160;billion in 2009.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Year
    Ended December&#160;31, 2009 Compared to Year Ended
    December&#160;31, 2008</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Revenues.</I>&#160;&#160;Our total revenues increased by
    39.1% from RMB3.2&#160;billion in 2008 to RMB4.4&#160;billion in
    2009. This increase was primarily due to a substantial increase
    in our revenues from online marketing services. Our online
    marketing revenues increased by 39.2% from RMB3.2&#160;billion
    in 2008 to RMB4.4&#160;billion in 2009. This increase was mainly
    attributable to the increase in the number of our online
    marketing customers from approximately 284,000 in 2008 to over
    317,000 in 2009, and the increase in the average revenue per
    customer from approximately RMB11,200 in 2008 to approximately
    RMB14,000 in 2009. The increase in our online marketing
    customers was mainly due to our effective distribution network
    and our expanded direct sales, especially in Beijing, Shanghai,
    Guangzhou, Shenzhen and Dongguan. The increase in the average
    revenue per customer was primarily attributable to the increase
    in the number of paid clicks and the higher price per click as
    more customers participated in our P4P auction platform. The
    number of paid clicks increased by approximately 16.9% from 2008
    to 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Operating Costs and Expenses.</I>&#160;&#160;Our total
    operating costs and expenses increased by 35.3% from
    RMB2.1&#160;billion in 2008 to RMB2.8&#160;billion in 2009. This
    increase was primarily due to the expansion of our business.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Cost of Revenues.</I>&#160;&#160;Our cost of revenues
    increased by 39.9% from RMB1.2&#160;billion in 2008 to
    RMB1.6&#160;billion in 2009. This increase was primarily due to
    the following factors:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Traffic Acquisition Costs</I>.&#160;&#160;Our traffic
    acquisition costs increased by 66.7% from RMB418.5&#160;million
    in 2008 to RMB697.7&#160;million in 2009. This was primarily due
    to the growth of revenue contribution from our Baidu Union
    members.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Bandwidth Costs and Depreciation Expenses</I>.&#160;&#160;Our
    bandwidth costs increased by 14.1% from RMB178.7&#160;million in
    2008 to RMB203.9&#160;million in 2009. Our depreciation expenses
    of servers and other equipment increased by 11.1% from
    RMB225.8&#160;million in 2008 to RMB251.0&#160;million in 2009.
    The absolute increases in these costs were due to the expansion
    of our business. However, these costs in 2009 accounted for a
    lower percentage of total revenues than in 2008. The decreases
    in bandwidth costs and depreciation expenses as percentages of
    total revenues reflect our improved efficiency as well as the
    scalability of our Internet-based business model;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Business Tax and Surcharges</I>.&#160;&#160;Our business tax
    and surcharges increased by 37.9% from RMB200.1&#160;million in
    2008 to RMB275.9&#160;million in 2009, primarily as a result of
    increase in our online marketing revenues;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Operational Costs</I>.&#160;&#160;Our operational costs
    increased by 41.8% from RMB127.9&#160;million in 2008 to
    RMB181.4&#160;million in 2009, primarily due to the increase in
    the number and compensation levels of our operating and
    technical support employees to meet the needs of our growing
    operations.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Selling, General and Administrative
    Expenses.</I>&#160;&#160;Our selling, general and administrative
    expenses increased by 21.9% from RMB659.8&#160;million in 2008
    to RMB804.0&#160;million in 2009. This increase was primarily
    due to the following factors:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    total salaries and benefits and staff-related expenses increased
    by 13.1% from RMB353.8&#160;million in 2008 to
    RMB400.3&#160;million in 2009, primarily due to the increased
    direct sales headcount to support our expanded online marketing
    services;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    total office operating expenses increased by 10.8% from
    RMB77.2&#160;million in 2008 to RMB85.5&#160;million in 2009,
    primarily as a result of increase and expansion of our direct
    sales offices;
</TD>
</TR>

</TABLE>
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    <BR>
    71
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="2%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    total traveling, communication and business development expenses
    increased by 28.9% from RMB23.9&#160;million in 2008 to
    RMB30.8&#160;million in 2009, primarily due to the increased
    direct sales headcount and activities to support our expanded
    online marketing services;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    marketing and promotion expenses increased by 75.3% from
    RMB90.7&#160;million in 2008 to RMB159.0&#160;million in 2009
    primarily due to the increased marketing and promotion
    activities.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The above increases were partially offset by a 7.2% decrease in
    share-based compensation expenses allocated to selling, general
    and administrative expenses from RMB41.7&#160;million in 2008 to
    RMB38.7&#160;million in 2009, primarily due to the maturity of
    some share-based awards granted in prior years.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    <I>Research and Development Expenses</I>.&#160;&#160;Our
    research and development expenses increased by 47.6% from
    RMB286.3&#160;million in 2008 to RMB422.6&#160;million in 2009,
    primarily due to an increase in the number and compensation
    levels of research and development staff.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Operating Profit.</I>&#160;&#160;As a result of the
    foregoing, we generated an operating profit of
    RMB1.6&#160;billion in 2009, a 46.3% increase from 2008.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Taxation.</I>&#160;&#160;Our income tax expenses increased by
    70.6% from RMB116.1&#160;million in 2008 to
    RMB198.0&#160;million in 2009, primarily due to the expiration
    of tax holiday of our subsidiary Baidu Times.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Other income, net, including exchange gains or
    losses.</I>&#160;&#160;Our other income, net, including exchange
    gains or losses was RMB45.8&#160;million in 2009, compared to
    RMB19.8&#160;million in 2008. The increase was primarily due to
    more government subsidies received in 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Net Income.</I>&#160;&#160;As a result of the foregoing, we
    had net income of RMB1.5&#160;billion in 2009, a 41.7% increase
    from RMB1.0&#160;billion in 2008.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Inflation</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Inflation in China has not materially impacted our results of
    operations. According to the National Bureau of Statistics of
    China, the annual average percent changes in the consumer price
    index in China for 2008, 2009 and 2010 were an increase of 5.9%,
    a decrease of 0.7% and an increase of 3.3%, respectively. The
    <FONT style="white-space: nowrap">year-over-year</FONT>
    percent changes in the consumer price index for January 2009,
    2010 and 2011 were increases of 1.0%, 1.5% and 4.9%,
    respectively. Although we have not been materially affected by
    inflation in the past, we can provide no assurance that we will
    not be affected in the future by higher rates of inflation in
    China. For example, certain operating costs and expenses, such
    as employee compensation and office operating expenses may
    increase as a result of higher inflation. Additionally, because
    a substantial portion of our assets consists of cash and cash
    equivalents and short-term investments, high inflation could
    significantly reduce the value and purchasing power of these
    assets. We are not able to hedge our exposure to higher
    inflation in China.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Foreign
    Currency</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The average exchange rate between U.S.&#160;dollar and RMB has
    declined from RMB8.2264 per U.S.&#160;dollar in July 2005 to
    RMB6.6497 per U.S.&#160;dollar in December 2010. The functional
    currency of our subsidiaries in Japan is the Japanese yen, and
    their reporting currency is RMB. During 2010, the Japanese yen
    appreciated by approximately 10.2% against RMB. As of
    December&#160;31, 2010, we recorded RMB117.4&#160;million
    (US$17.8&#160;million) of net foreign currency translation loss
    in accumulated other comprehensive loss as a component of
    shareholders&#146; equity. We have not hedged exposures to
    exchange fluctuations using any hedging instruments. See also
    &#147;Item&#160;3.D. Key Information&#160;&#151; Risk
    Factors&#160;&#151; Risks Related to Doing Business in
    China&#160;&#151; Fluctuation in the value of the RMB may have a
    material adverse effect on your investment.&#148; and
    &#147;Item&#160;11. Quantitative and Qualitative Disclosures
    About Market Risk&#160;&#151; Foreign Exchange Risk.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Critical
    Accounting Policies</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We prepare financial statements in accordance with
    U.S.&#160;GAAP, which requires us to make judgments, estimates
    and assumptions that affect the reported amounts of our assets
    and liabilities and the disclosure of our
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    contingent assets and liabilities at the end of each fiscal
    period and the reported amounts of revenues and expenses during
    each fiscal period. We continually evaluate these judgments and
    estimates based on our own historical experience, knowledge and
    assessment of current business and other conditions, our
    expectations regarding the future based on available information
    and assumptions that we believe to be reasonable, which together
    form our basis for making judgments about matters that are not
    readily apparent from other sources. Since the use of estimates
    is an integral component of the financial reporting process, our
    actual results could differ from those estimates. Some of our
    accounting policies require a higher degree of judgment than
    others in their application.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The selection of critical accounting policies, the judgments and
    other uncertainties affecting application of those policies and
    the sensitivity of reported results to changes in conditions and
    assumptions are factors that should be considered when reviewing
    our financial statements. For further information on our
    significant accounting policies, see Note&#160;2 to our
    consolidated financial statements. We believe the following
    accounting policies involve the most significant judgments and
    estimates used in the preparation of our financial statements.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Revenue
    Recognition</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We recognize revenues based on the following principles:
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Online
    marketing services</FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">(1)&#160;&#160;</FONT></I></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Auction-based
    <FONT style="white-space: nowrap">pay-for-performance</FONT>
    service</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our auction-based
    <FONT style="white-space: nowrap">pay-for-performance</FONT>
    (&#147;P4P&#148;) platform enables a customer to place its
    website link and related description on our search result list.
    The customers make bids on keywords based on how much they are
    willing to pay for each click to their listings in the search
    results listed on the our website and the relevance between the
    keywords and the customer&#146;s businesses. Internet
    users&#146; search of the keyword will trigger the display of
    the listings. The ranking of the customer&#146;s listing depends
    on both the bidding price and the listing&#146;s relevance to
    the keyword searched. Customer pays us only when a user clicks
    on one of its website links. Revenue is recognized when a user
    clicks on one of the customer-sponsored website links, as there
    is persuasive evidence of an arrangement, the fee is fixed or
    determinable and collection is reasonably assured, as prescribed
    by ASC subtopic
    <FONT style="white-space: nowrap">605-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">605-10&#148;),</FONT>
    <I>Revenue Recognition: Overall</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For certain P4P customers engaged through direct sales, we may
    provide certain value-added consultative support services to
    help its customers to better utilize its P4P online marketing
    system. Fees for such services are recognized as revenue on a
    pro-rata basis over the contracted service period.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">(2)&#160;&#160;</FONT></I></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Other
    performance-based online marketing services</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    To the extent we provide online marketing services based on
    performance criteria other than click-throughs, such as the
    number of telephone calls brought to our customers, the number
    of users registered with our customers, or the number of minimum
    click-throughs, revenue is recognized when the specified
    performance criteria are met together with satisfaction of other
    applicable revenue recognition criteria as prescribed by
    <FONT style="white-space: nowrap">ASC&#160;605-10.</FONT>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">(3)&#160;&#160;</FONT></I></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Time-based
    online advertising services</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For time-based online advertising services such as text links,
    banners, or other forms of graphical advertisements, we
    recognize revenue, in accordance with
    <FONT style="white-space: nowrap">ASC&#160;605-10,</FONT>
    on a pro-rata basis over the contractual term commencing on the
    date the customer&#146;s advertisement is displayed in a
    specified webpage. For certain time-based contractual
    agreements, we may also provide certain performance guarantees,
    in which cases revenue is recognized at the later of the
    completion of the time commitment or performance guarantee.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">(4)&#160;&#160;</FONT></I></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Online
    marketing services involving Baidu Union</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu Union is the program through which we expand distribution
    of our customers&#146; sponsored links or advertisements by
    leveraging traffic of the Baidu Union members&#146; Internet
    properties. We make payments to Baidu Union members for
    acquisition of traffic. We recognize gross revenue for the
    amount of fees we receive from our customers. Payments made to
    Baidu Union members are included in cost of revenues as traffic
    acquisition costs.
</DIV>
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">(5)&#160;&#160;</FONT></I></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Barter
    transactions</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We engages in barter transactions from time to time and in such
    situations follows the guidance set forth in ASC subtopic
    <FONT style="white-space: nowrap">845-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">845-10&#148;),</FONT>
    <I>Nonmonetary Transactions: Overall</I>. While nonmonetary
    transactions are generally recorded at fair value, if such value
    is not determinable within reasonable limits, the transaction is
    recognized based on the carrying value of the product or
    services provided. The amount of revenues recognized for barter
    transactions was insignificant for each of the periods presented.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, we recognized revenues for barter transactions
    involving advertising in accordance with ASC subtopic
    <FONT style="white-space: nowrap">605-20</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">605-20&#148;),</FONT>
    <I>Revenue recognition: Services</I>. However, neither the
    amount recognized nor the volume of such transactions qualified
    for income recognition was material for any of the periods
    presented.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In certain instances, we may be granted equity instruments in
    exchange for services. In accordance with ASC subtopic
    <FONT style="white-space: nowrap">505-50</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">505-50&#148;),</FONT>
    <I>Equity: Equity-based Payments to Non-Employees</I>, if we
    provide services in exchange for equity instruments, we measure
    the fair value of those equity instruments for revenue
    recognition purposes as of the earlier of either of the
    following dates:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The date the parties come to a mutual understanding of the terms
    of the equity-based compensation arrangement and a commitment
    for performance by us to earn the equity instruments is reached;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The date at which our performance necessary to earn the equity
    instruments is completed.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If, as of the measurement date, the fair value of the equity
    instruments received is not determinable within reasonable
    limits, the transaction is recognized based on the fair value of
    the services provided. If the fair value of both the equity
    instruments received and the services provided cannot be
    determined, no revenue is recognized for the services provided
    and the equity instrument received is recorded at zero carrying
    value. The amount of revenues recognized for such transactions
    was insignificant in each of the years presented.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">(6)&#160;&#160;</FONT></I></B>
</TD>
    <TD>
    <B><I><FONT style="font-family: 'Times New Roman', Times">Other
    revenue recognition related policies</FONT></I></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If a sales arrangement involves multiple deliverables, and the
    arrangement is divided into separate units of accounting in
    accordance with ASC subtopic
    <FONT style="white-space: nowrap">605-25</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">605-25&#148;),</FONT>
    <I>Revenue recognition: Multiple-Element Arrangements</I>, the
    total revenue on such arrangement is allocated to the individual
    deliverables based on their relative fair values. If sufficient
    vendor-specific objective evidence of fair value does not exist
    for the allocation of revenue, the fee for the entire
    arrangement is recognized ratably over the term of the
    arrangement or upon the delivery of the last deliverable, when
    other revenue recognition criteria have been met.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We deliver some of our online marketing services to end
    customers through engaging third party distributors. In this
    context, we may provide cash incentives to distributors. The
    cash incentives are accounted for as reduction of revenue in
    accordance with ASC subtopic
    <FONT style="white-space: nowrap">605-50</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">605-50&#148;),</FONT>
    <I>Revenue recognition: Customer Payments and Incentives</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We provide sales incentives to entitle customers, who meet
    certain accumulative consumption requirements, to receive price
    reduction in the online marketing services. The Company accounts
    for these award credits granted to members in conjunction with a
    current sale of products or services as a multiple-element
    arrangement by analogizing to
    <FONT style="white-space: nowrap">ASC&#160;605-25.</FONT>
    The consideration allocated to the award credits, as deferred
    revenue, is based on an assumption that the customer will
    purchase the minimum amount of future service necessary to
    obtain the maximum award credits available. The deferred revenue
    is recognized as revenue proportionately as the future services
    are delivered to the customer or when the loyalty points expire.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Cash received in advance from customers is recorded as customer
    advances and deposits. The unused cash balances remaining in
    customers&#146; accounts are included as our liability. Deferred
    revenue is recorded when services are provided before the other
    revenue recognition criteria set forth in
    <FONT style="white-space: nowrap">ASC&#160;605-10</FONT>
    are fulfilled.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We operate an online game platform, on which registered users
    can access games provided by online-game developers. The rights
    and obligations set out in the arrangement between the
    online-game developer and us indicate that we are an agent
    whereas the online-game developers are the principal for being
    the primary obligors in the arrangement. As a result, we
    recognize the shared revenue on a net basis, based on the ratios
    pre-determined
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    with the online game developers when all the revenue recognition
    criteria set forth in
    <FONT style="white-space: nowrap">ASC&#160;605-10</FONT>
    are met, which is generally when users purchase virtual
    currencies issued by the game developers through our payment
    channel. The revenues recognized were not significant in each of
    the years presented.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Share-based
    Compensation</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We account for share-based compensation in accordance with ASC
    subtopic
    <FONT style="white-space: nowrap">718-10,</FONT> or
    <FONT style="white-space: nowrap">ASC&#160;718-10,</FONT>
    <I>Compensation-Stock Compensation: Overall. </I>Under the
    provisions of
    <FONT style="white-space: nowrap">ASC&#160;718-10,</FONT>
    share-based compensation cost is estimated at the grant date
    based on the award&#146;s fair value as calculated by the
    Black-Scholes-Merton (BSM) option-pricing model and is
    recognized as expense over the requisite service period. The BSM
    model requires various highly judgmental assumptions including
    volatility and expected option life. Volatility is measured
    using historical daily price changes of our ADSs over the
    respective expected life of the option. Expected option life is
    the number of years that we estimate, based on the vesting and
    contractual terms and employee demographics. If any of the
    assumptions used in the BSM model change significantly,
    share-based compensation expenses may differ materially in the
    future from that recorded in the current period.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, we are required to estimate the expected forfeiture
    rate and only recognize expense for those shares expected to
    vest. We estimate the forfeiture rate based on historical
    experience. Further, to the extent our actual forfeiture rate is
    different from our estimate, stock-based compensation expense is
    adjusted accordingly.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Income
    Taxes</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We are subject to income taxes in the PRC and Japan. Significant
    judgment is required in evaluating our uncertain tax positions
    and determining our provision for income taxes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    ASC subtopic
    <FONT style="white-space: nowrap">740-10,</FONT> or
    <FONT style="white-space: nowrap">ASC&#160;740-10,</FONT>
    Income Taxes:&#160;<I>Overall, </I>contains a two-step approach
    to recognizing and measuring uncertain tax positions accounted
    for in accordance with
    <FONT style="white-space: nowrap">ASC&#160;740-10.</FONT>
    The first step is to evaluate the tax position for recognition
    by determining if the weight of available evidence indicates
    that it is more likely than not that the position will be
    sustained on audit, including resolution of related appeals or
    litigation processes, if any. The second step is to measure the
    tax benefit as the largest amount that is more than 50% likely
    of being realized upon settlement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We make assumptions, judgments and estimates in the recognition
    and measurement of a tax position taken or expected to be taken
    in a tax return. These judgments, assumptions and estimates take
    into account current tax laws, our interpretation of current tax
    laws and possible outcomes of current and future audits
    conducted by foreign and domestic tax authorities. Changes in
    tax law or our interpretation of tax laws and the resolution of
    current and future tax audits could significantly impact the
    amounts of unrecognized, uncertain tax positions, if any,
    provided or to be provided for in our consolidated financial
    statements. Although we believe we have adequately reserved for
    our uncertain tax positions, no assurance can be given that the
    final tax outcome of these matters will not be different. In
    general, PRC and Japanese tax authorities have up to five and
    seven years, respectively, to conduct examination on our tax
    filings. Accordingly, our PRC subsidiaries&#146; and affiliated
    entities&#146; tax filings for the tax years 2007 to 2010 and
    our Japanese subsidiary&#146;s tax filings for the tax years
    2007 to 2010 remain open to examination by the respective taxing
    jurisdictions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our assumptions, judgments and estimates relative to the value
    of a deferred tax asset take into account predictions of the
    amount and category of future taxable income, such as income
    from operations. Actual operating results and the underlying
    amount and category of income in future years could render our
    current assumptions, judgments and estimates of recoverable net
    deferred taxes inaccurate. Any of the assumptions, judgments and
    estimates mentioned above could cause our actual income tax
    obligations to differ from our estimates, and thus materially
    impact our financial position and results of operations. We do
    not believe that net deferred tax assets related with our Japan
    operations are more likely than not to be realized.
    Consequently, we have provided full valuation allowances on the
    related net deferred tax assets.
</DIV>
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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Allowance
    for Doubtful Accounts</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Accounts receivable are recognized and carried at original
    invoiced amount less an allowance for any potential
    uncollectible amounts. An estimate for doubtful debts is made
    when collection of the full amount is no longer probable. Bad
    debts are written off as incurred. We generally do not require
    collateral from our customers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We maintain allowances for doubtful accounts for estimated
    losses resulting from the failure of customers to make payments
    on time. We review the accounts receivable on a periodic basis
    and make general and specific allowances when there is doubt as
    to the collectibility of individual balances. In evaluating the
    collectibility of individual receivable balances, we consider
    many factors, including the age of the balance, the
    customer&#146;s past payment history, its current
    credit-worthiness and current economic trends. If the financial
    condition of our customers were to deteriorate, resulting in an
    impairment of their ability to make payments, or if the
    operators decide not to pay us, additional allowances may be
    required which could materially impact our financial position
    and results of operations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Impairment
    of Long-Lived Assets</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We evaluate long-lived assets, such as property and equipment
    and purchased or internally developed intangible assets with
    finite lives, for impairment whenever events or changes in
    circumstances indicate the carrying value of an asset may not be
    recoverable in accordance with ASC subtopic
    <FONT style="white-space: nowrap">360-10,</FONT>
    <I>Property, Plant and Equipment: Overall.</I> We assess the
    recoverability of an asset group based on the undiscounted
    future cash flows the asset group is expected to generate and
    recognize an impairment loss when the estimated undiscounted
    future cash flows expected to result from the use of the asset
    group plus net proceeds expected from the disposition of the
    asset group, if any, are less than the carrying value of the
    asset group. If we identify an impairment, we reduce the
    carrying amount of the asset group to its estimated fair value
    based on a discounted cash flow approach or, when available and
    appropriate, to comparable market values. We use estimates and
    judgments in our impairment tests and if different estimates or
    judgments had been utilized, the timing or the amount of any
    impairment charges could be different.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Impairment
    of Goodwill and Intangible Assets with Indefinite
    Life</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We assess goodwill and
    <FONT style="white-space: nowrap">non-amortized</FONT>
    intangible assets for impairment in accordance with ASC subtopic
    <FONT style="white-space: nowrap">350-20,</FONT> or
    <FONT style="white-space: nowrap">ASC&#160;350-20,</FONT>
    <I>Intangibles&#160;&#151; Goodwill and Other: Goodwill,</I>
    which requires that goodwill and
    <FONT style="white-space: nowrap">non-amortized</FONT>
    intangible assets be tested for impairment at the
    &#147;reporting unit level&#148; at least annually and more
    frequently upon the occurrence of certain events, as defined by
    <FONT style="white-space: nowrap">ASC&#160;350-20.</FONT>
    Intangible assets with an indefinite useful life are not
    amortized. In accordance with this policy, one of the domain
    name assets, which was acquired in July 2006, and the
    &#147;Baidu&#148; trademark are not subject to amortization, as
    the remaining useful life is indefinite. Based on our business
    activities and operational management perspective, we have
    determined that there is only one reporting unit. Goodwill and
    <FONT style="white-space: nowrap">non-amortized</FONT>
    intangible assets were tested for impairment in the annual
    impairment tests on December 31 in each of the years 2008, 2009
    and 2010 using the two-step process required by
    <FONT style="white-space: nowrap">ASC&#160;350-20.</FONT>
    First, we reviewed the carrying amount of the reporting unit
    compared to the &#147;fair value&#148; of the reporting unit
    based on quoted market prices of our ordinary shares. If such
    comparison reflected potential impairment, we would then prepare
    the discounted cash flow analyses. Such analyses are based on
    cash flow assumptions that are consistent with the plans and
    estimates being used to manage the business. Cash flow
    assumptions include estimating future cash flows, determining
    appropriate discount rates and making other assumptions. Changes
    in these estimates and assumptions could materially affect the
    determination of fair value for the reporting unit. An excess of
    the carrying value of the goodwill over the fair value of the
    goodwill would indicate that the goodwill may be impaired.
    Finally, if we determined that goodwill may be impaired, the
    &#147;implied fair value&#148; of the goodwill, as defined by
    <FONT style="white-space: nowrap">ASC&#160;350-20,</FONT>
    would be compared to its carrying amount to determine the
    impairment loss, if any. There has been no impairment of
    goodwill in any of the years presented.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Impairment
    of Long-term Investments</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our long-term investments consist of cost method investments,
    equity method investments and
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    securities. Our long-term investments primarily focus on the
    privately-held companies.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We periodically review our cost method investments and equity
    method investments for impairment. If we conclude that any of
    such investments are impaired, we will assess whether such
    impairment is
    <FONT style="white-space: nowrap">other-than-temporary.</FONT>
    Factors we consider to make such determination include the
    performance and financial position of the investee as well as
    other evidence of market value. Such evaluation includes but is
    not limited to, reviewing the investee&#146;s cash position,
    recent financing, projected and historical financial
    performance, cash flow forecasts and financing needs. If any
    impairment is considered
    <FONT style="white-space: nowrap">other-than-temporary,</FONT>
    an impairment loss is recognized in the consolidated statements
    of income equal to the excess of the investment&#146;s cost over
    its fair value at the balance sheet date of the reporting period
    for which the assessment is made.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our long-term investments in
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    securities are the debt security investments. Our
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    debt securities are reported at fair value, and we do not intend
    to sell the security and it is not more likely than not that we
    will be required to sell the securities before recovery of their
    amortized cost basis less any current-period credit loss. If we
    determine a decline in fair value is
    <FONT style="white-space: nowrap">other-than-temporary,</FONT>
    the amount of the total
    <FONT style="white-space: nowrap">other-than-temporary</FONT>
    impairment related to the credit loss shall be recognized in
    earnings and the amount of the total
    <FONT style="white-space: nowrap">other-than-temporary</FONT>
    impairment related to other factors shall be recognized in other
    comprehensive income, net of applicable taxes. The previous
    amortized cost basis less the
    <FONT style="white-space: nowrap">other-than-temporary</FONT>
    impairment recognized in earnings shall become the new amortized
    basis of the investment. That new amortized cost basis shall not
    be adjusted for subsequent recoveries in fair value.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The fair value determination, particularly for investments in
    privately-held companies, requires significant judgment to
    determine appropriate estimates and assumptions. Changes in
    these estimates and assumptions could affect the calculation of
    the fair value of the investments and the determination of
    whether any identified impairment is
    <FONT style="white-space: nowrap">other-than-temporary.</FONT>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Recent
    Accounting Pronouncements</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In October 2009, the FASB issued ASU
    <FONT style="white-space: nowrap">No.&#160;2009-13</FONT>
    (&#147;ASU
    <FONT style="white-space: nowrap">2009-13&#148;),</FONT>
    <I>Multiple-Deliverable Revenue Arrangements</I>. ASU
    <FONT style="white-space: nowrap">2009-13</FONT>
    amends ASC
    <FONT style="white-space: nowrap">sub-topic</FONT>
    <FONT style="white-space: nowrap">605-25</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">605-25&#148;),</FONT>
    <I>Revenue Recognition: Multiple-Element Arrangements</I>,
    regarding revenue arrangements with multiple deliverables. This
    standard addresses how to determine whether an arrangement
    involving multiple deliverables contains more than one unit of
    accounting, and how the arrangement consideration should be
    allocated among the separate units of accounting. This standard
    establishes a selling price hierarchy for determining the
    selling price of a deliverable, which is based on:
    (a)&#160;vendor-specific objective evidence;
    (b)&#160;third-party evidence; or (c)&#160;estimated selling
    price. This standard also eliminates the residual method of
    allocation and requires that arrangement consideration be
    allocated at the inception of the arrangement to all
    deliverables using the relative selling price method. This
    standard makes clear that the objective of determining the best
    estimate of selling price is to identify the price at which the
    entity would transact if the deliverable were sold on a
    standalone basis. In making this estimate, entities should
    consider all reasonably available information, including both
    market data and conditions and entity-specific factors, when
    estimating the selling price. Changes in these estimates and
    assumptions could affect the determination of the best estimate
    of selling price of a deliverable and the amount of revenue
    recognized. In addition, this standard significantly expands
    required disclosures related to a vendor&#146;s
    multiple-deliverable revenue arrangements. This standard is
    effective for fiscal years beginning after June&#160;15, 2010
    and to be applied retrospectively or prospectively for new or
    materially modified arrangements. In addition, early adoption is
    permitted. We will adopt ASU
    <FONT style="white-space: nowrap">2009-13</FONT>
    beginning January&#160;1, 2011 and we are in the process of
    assessing the impact of the adoption of the standard on its
    consolidated financial statements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In April 2010, the FASB issued ASU
    <FONT style="white-space: nowrap">No.&#160;2010-13</FONT>
    (&#147;ASU
    <FONT style="white-space: nowrap">2010-13&#148;),</FONT>
    <I>Compensation-Stock Compensation (ASC 718): Effect of
    Denominating the Exercise Price of a Share-Based Payment Award
    in the Currency of the Market in Which the Underlying Equity
    Security Trades</I>. The objective of this standard is to
    address the classification of an employee share-based payment
    award with an exercise price dominated in the currency of a
    market in which the underlying equity security trades.
    ASC&#160;718 provides guidance on the classification of a
    share-based payment award as either equity or liability. A
    share-based payment award that contains a condition that is not
    a market, performance, or service condition is required to be
    classified as a liability. ASU
    <FONT style="white-space: nowrap">2010-13</FONT>
    provides amendments to clarify that an employee share-based
    payment award with an exercise price denominated in the currency
    of a market in which a substantial portion of the entity&#146;s
    equity securities trades should not be considered
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    to contain a condition that is not a market, performance, or
    service condition. Therefore, an entity would not classify such
    an award as a liability if it otherwise qualifies as equity. The
    amendments in this standard are effective for fiscal years, and
    interim periods within those fiscal years, beginning on or after
    December&#160;31, 2010. Early application is permitted. We do
    not expect the adoption of ASU
    <FONT style="white-space: nowrap">2010-13</FONT> will
    have a material impact on our consolidated financial statements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2010, the FASB issued ASU
    <FONT style="white-space: nowrap">No.&#160;2010-28</FONT>
    (&#147;ASU
    <FONT style="white-space: nowrap">2010-28&#148;),</FONT>
    <I>Intangibles&#160;&#151; Goodwill and Other (ASC 350): When to
    Perform Step 2 of the Goodwill Impairment Test for Reporting
    Units with Zero or Negative Carrying Amounts</I>. The objective
    of this standard is to address questions about entities with
    reporting units with zero or negative carrying amounts because
    some entities concluded that Step 1 of the test is passed in
    those circumstances because the fair value of their reporting
    unit will generally are greater than zero. The amendments in
    this standard modify Step 1 of the goodwill impairment test for
    reporting units with zero or negative carrying amounts. For
    those reporting units, an entity is required to perform Step 2
    of the goodwill impairment test if it is more likely than not
    that a goodwill impairment exists. This standard is effective
    for fiscal years, and interim periods within those years,
    beginning after December&#160;15, 2010. Early adoption is not
    permitted. We do not expect the adoption of ASU
    <FONT style="white-space: nowrap">2010-28</FONT> will
    have a material impact on our consolidated financial statements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2010, the FASB issued ASU
    <FONT style="white-space: nowrap">No.&#160;2010-29</FONT>
    (&#147;ASU
    <FONT style="white-space: nowrap">2010-29&#148;),</FONT>
    <I>Disclosure of Supplementary Pro Forma Information for
    Business Combinations (&#147;ASC 805&#148;)</I>. The objective
    of this standard is to address diversity in practice about the
    interpretation of the pro forma revenue and earnings disclosure
    requirements for business combinations. This standard specifies
    that if a public entity presents comparative financial
    statements, the entity should disclose revenue and earnings of
    the combined entity as though the business combination(s) that
    occurred during the current year had occurred as of the
    beginning of the comparable prior annual reporting period only.
    This standard also expands the supplemental pro forma
    disclosures under ASC&#160;805 to include a description of the
    nature and amount of material, nonrecurring pro forma
    adjustments directly attributable to the business combination
    included in the reported pro forma revenue and earnings. This
    standard is effective prospectively for business combinations
    for which the acquisition date is on or after the beginning of
    the first annual reporting period beginning on or after
    December&#160;15, 2010. Early adoption is permitted. We do not
    expect the adoption of ASU
    <FONT style="white-space: nowrap">2010-29</FONT> will
    have a material impact on our consolidated financial statements.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">B.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Liquidity
    and Capital Resources</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our principal sources of liquidity are our cash, cash
    equivalents and short-term investments, which comprise primarily
    of fixed rate investments maturing within one year, as well as
    the cash flow generated from our operations. We believe that our
    current cash, cash equivalents, short-term investments and
    anticipated cash flow from operations will be sufficient to meet
    our anticipated cash needs, including our cash needs for working
    capital and capital expenditures, for at least the next
    12&#160;months. We may, however, require additional cash due to
    changing business conditions or other future developments,
    including any investments or acquisitions we may decide to
    pursue. If our existing cash is insufficient to meet our
    requirements, we may seek to sell additional equity securities,
    debt securities or borrow from banks.
</DIV>
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    <BR>
    78
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Cash
    Flows and Working Capital</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth a summary of our cash flows for
    the periods indicated:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="52%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Year Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net cash generated from operating activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,741,637
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,264,484
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,700,481
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    712,194
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net cash used in investing activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (661,102
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (536,069
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,217,522
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (184,473
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net cash generated from (used in) financing activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (35,637
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    95,093
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    124,751
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    18,902
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Effect of exchange rate changes on cash
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (37,889
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (741
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6,110
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (926
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net increase in cash and cash equivalents
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,007,009
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,822,767
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,601,600
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    545,697
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Cash and cash equivalents at beginning of the period
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,350,600
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,357,609
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,180,376
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    633,390
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Cash and cash equivalents at end of the period
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,357,609
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,180,376
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,781,976
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,179,087
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Operating
    Activities</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Net cash generated from operating activities increased to
    RMB4.7&#160;billion (US$712.2&#160;million) in 2010 from
    RMB2.3&#160;billion in 2009. This increase was mainly
    attributable to several factors, including (i)&#160;the
    substantial increase in net income to RMB3.5&#160;billion
    (US$534.1&#160;million) in 2010 from RMB1.5&#160;billion in
    2009; (ii)&#160;the increase in add-back of non-cash expenses,
    mainly consisting of depreciation expenses; and (iii)&#160;the
    increases in customer advance, deferred revenues and accounts
    payable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Net cash generated from operating activities increased to
    RMB2.3&#160;billion in 2009 from RMB1.7&#160;billion in 2008.
    This increase was mainly attributable to several factors,
    including (i)&#160;the substantial increase in net income to
    RMB1.5&#160;billion in 2009 compared to net income of
    RMB1.0&#160;billion in 2008; (ii)&#160;the increase in add-back
    of non-cash expenses, mainly consisting of share-based
    compensation and depreciation expenses; and (iii)&#160;the
    increases in customer advance, deferred revenues and accounts
    payable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Investing
    Activities</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Net cash used in investing activities increased from
    RMB536.1&#160;million in 2009 to RMB1.2&#160;billion
    (US$184.5&#160;million) in 2010, primarily due to the
    acquisition of fixed assets and long-term investments.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Net cash used in investing activities decreased from
    RMB661.1&#160;million in 2008 to RMB536.1&#160;million in 2009,
    primarily due to less spending on acquisition of fixed assets
    and construction of Baidu Campus.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Financing
    Activities</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Net cash flow generated from financing activities was
    RMB124.8&#160;million (US$18.9&#160;million) in 2010, compared
    to a net cash flow of RMB95.1&#160;million generated from
    financing activities in 2009, primarily due to the increase in
    proceeds from the long-term lines of credit.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Net cash flow generated from financing activities was
    RMB95.1&#160;million in 2009, compared to a net cash
    flow&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
    used in financing activities in 2008, primarily due to the
    receipt of cash payments previously made by us, plus
    pre-determined premiums, in two structured share repurchase
    transactions in 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We are a holding company with no operations of our own. We
    conduct our operations in China primarily through our indirect
    wholly owned subsidiaries and our consolidated affiliated
    entities in China. As a result, our ability to pay dividends and
    to finance any debt we may incur depends upon dividends paid by
    our PRC subsidiaries and license and service fees paid by our
    PRC consolidated affiliated entities. If any of our subsidiaries
    incurs debt on its own behalf in the future, the instruments
    governing such debt may restrict its ability to pay dividends to
    us. In addition, our PRC subsidiaries are permitted to pay
    dividends to us only out of their retained earnings, if any, as
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    79
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    determined in accordance with PRC accounting standards and
    regulations. Under PRC law, our subsidiaries and consolidated
    affiliated entities in the PRC are required to set aside at
    least 10% of their after-tax profit each year to fund a
    statutory reserve fund until the amount of the reserve fund
    reaches 50% of such entity&#146;s registered capital. Although
    these statutory reserve funds can be used, among other ways, to
    increase the registered capital and eliminate future losses in
    excess of retained earnings of the respective companies, these
    reserve funds are not distributable as cash dividends except in
    the event of a solvent liquidation of the companies. See
    Note&#160;13 to our consolidated financial statements.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Capital
    Expenditures</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We made capital expenditures of RMB417.9&#160;million,
    RMB399.3&#160;million, and RMB895.3&#160;million
    (US$135.7&#160;million) in 2008, 2009 and 2010, respectively,
    representing 13.1%, 9.0% and 11.3% of our total revenues,
    respectively. In 2010, our capital expenditures were used
    primarily to purchase servers, network equipment and other
    computer hardware for our business. We funded our capital
    expenditures primarily with net cash flow generated from
    operating activities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In late 2005, we entered into an agreement to acquire the land
    use right in Beijing to build our new corporate headquarters. We
    made a total payment of RMB97.6&#160;million for the land use
    right. The construction and renovation of our new corporate
    headquarters were completed in 2009, and we moved into the new
    building in November 2009. Our capital expenditures in
    connection with the construction and renovation of our new
    office building were RMB172.3&#160;million in 2008,
    RMB209.2&#160;million in 2009 and RMB38.7&#160;million
    (US$5.9&#160;million) in 2010, excluding payment for the land
    use right. Our capital expenditures may increase substantially
    in the near term as our business continues to grow and as we
    expand and improve our network infrastructure.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">C.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Research
    and Development</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have a team of experienced engineers who are mostly based at
    our headquarters in Beijing. We recruit most of our engineers
    locally and have established various recruiting and training
    programs with leading universities in China. We have also
    recruited experienced engineers from overseas. We compete
    aggressively for engineering talent to help us address
    challenges such as Chinese language processing, information
    retrieval and high performance computing. In each of the three
    years ended December&#160;31, 2008, 2009 and 2010, our research
    and development expenditures, including share-based compensation
    expenses for research and development staff, were
    RMB286.3&#160;million, RMB422.6&#160;million and
    RMB718.0&#160;million (US$108.8&#160;million), representing
    9.0%, 9.5% and 9.1% of our total revenues for 2008, 2009 and
    2010, respectively.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">D.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Trend
    Information</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Other than as disclosed elsewhere in this annual report, we are
    not aware of any trends, uncertainties, demands, commitments or
    events for the year ended December&#160;31, 2010 that are
    reasonably likely to have a material adverse effect on our net
    revenues, income, profitability, liquidity or capital resources,
    or that would cause the disclosed financial information to be
    not necessarily indicative of future operating results or
    financial conditions.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">E.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Off-Balance
    Sheet Arrangements </FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have not entered into any financial guarantees or other
    commitments to guarantee the payment obligations of any third
    parties. We have not entered into any off-balance sheet
    derivative instruments. Furthermore, we do not have any retained
    or contingent interest in assets transferred to an
    unconsolidated entity that serves as credit, liquidity or market
    risk support to such entity. We do not have any variable
    interest in any unconsolidated entity that provides financing,
    liquidity, market risk or credit support to us or engages in
    leasing, hedging or research and development services with us.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    80
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">F.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Contractual
    Obligations</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth our contractual obligations by
    specified categories as of December&#160;31, 2010:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="47%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="3%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="4%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="19" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Payment Due by Period</B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Less Than<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>More Than<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Total</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>1&#160;Year</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>1-3&#160;Years</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>3-5&#160;Years</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>5&#160;Years</B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="19" align="center" valign="bottom">
    <B>(In RMB thousands)</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Long-Term Debt
    Obligation<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    95,886
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    95,886
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating Lease
    Obligations<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    849,815
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    259,927
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    323,023
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    187,116
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    79,749
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Capital
    Commitments<SUP style="font-size: 85%; vertical-align: top">(3)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    168,402
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    168,402
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,114,103
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    428,329
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    418,909
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    187,116
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    79,749
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    On October&#160;27, 2010, Baidu Netcom entered into a loan
    facility agreement with the Export-import Bank of China to
    finance some of its government-sponsored research projects, at
    the annual interest rate of 5.60%, with respect to which the
    government will provide a cash subsidy that amounts to
    approximately the interest payment of the loan drawn under the
    facility. The aggregate principal amount of the unsecured bank
    facility amounts to RMB140.0&#160;million (US$21.2&#160;million)
    and may be borrowed anytime within three years. As of
    December&#160;31, 2010, Baidu Netcom borrowed
    RMB86.0&#160;million (US$13.0&#160;million) under the facility,
    and the total interest to be paid is RMB9.9&#160;million.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Operating lease obligations represent the lease obligations for
    our premises and bandwidth obligations.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    Capital commitments relate primarily to expenditures on computer
    equipments and the consideration in relation to a business
    combination that will be closed in 2011.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Other than the contractual obligations set forth above, we do
    not have any contractual obligations that are long-term debt
    obligations, capital (finance) lease obligations, purchase
    obligations or other long-term liabilities reflected on our
    balance sheet under U.S.&#160;GAAP.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="8%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;6.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360110'></A><B><FONT style="font-family: 'Times New Roman', Times">Directors,
    Senior Management and Employees</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">A.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Directors
    and Senior Management </FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth information regarding our
    executive officers and directors as of the date of this annual
    report.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="43%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="52%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Directors and Executive Officers</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Age</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Position/Title</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Robin Yanhong Li
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    42
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Chairman and Chief Executive Officer
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Jennifer Li
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    43
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Chief Financial Officer
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William I. Chang
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    47
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Chief Scientist
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William Decker
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    64
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Independent Director
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    James Ding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    46
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Independent Director
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Nobuyuki Idei
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    73
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Independent Director
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Greg Penner
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    41
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Independent Director
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Robin Yanhong Li </I>is a co-founder of our
    company.&#160;&#160;Mr.&#160;Li has served as our chairman of
    the board since our inception in January 2000 and as our chief
    executive officer since January 2004. Mr.&#160;Li served as our
    president from February 2000 to December 2003. Prior to founding
    our company, Mr.&#160;Li worked as a staff engineer for
    Infoseek, a pioneer in the Internet search engine industry, from
    July 1997 to December 1999. Mr.&#160;Li was a senior consultant
    for IDD Information Services from May 1994 to June 1997.
    Mr.&#160;Li currently serves as an independent director of New
    Oriental Education&#160;&#038; Technology Group Inc. Mr.&#160;Li
    also acts as the vice chairman of the Internet Society of China
    (ISC). Mr.&#160;Li received a bachelor&#146;s degree in
    information science from Peking University in China and a
    master&#146;s degree in computer science from the State
    University of New York at Buffalo.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Jennifer Li </I>has served as our chief financial officer
    since March 2008. Prior to joining our company, Ms.&#160;Li
    served as controller of General Motors Acceptance
    Corporation&#146;s North American Operations from 2005 to 2008.
    Prior to GMAC, Ms.&#160;Li worked at General Motors China, where
    she was responsible for overseeing finance
</DIV>
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    <BR>
    81
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    functions of General Motors&#146; wholly owned and joint venture
    businesses in China from 2001 to 2004, with the last post as its
    chief financial officer. From 1994 to 2001, she held several
    other finance positions at General Motors in Canada, the United
    States and Singapore. Ms.&#160;Li has been serving as a director
    of Philip Morris International, Inc. since May 2010. Ms.&#160;Li
    has been recognized by the Wall Street Journal, the Financial
    Times and Forbes as one of &#147;Asia&#146;s Most Watched
    Women&#148; and one of the &#147;Top 50 Women in the World to
    Watch.&#148; Ms.&#160;Li holds an MBA degree from the University
    of British Columbia in Vancouver, B.C., Canada and a bachelor of
    arts degree from Tsinghua University in China.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>William I. Chang </I>has served as our chief scientist since
    January 2007. Dr.&#160;Chang is a recognized expert in search
    technology, online community and advertising business models.
    From 2001 to January 2007, he served as chairman, president and
    chief executive  officer of the Affini, Inc., a search
    technology and software company he founded. Since January 2007,
    he has served as chairman of Affini, Inc. From 2000 to 2001,
    Dr.&#160;Chang served as chief technology officer at Sentius
    Corporation, a hypertext software company, where he created a
    contextual advertising product. From 1998 to 1999,
    Dr.&#160;Chang served as vice president of Go Network. From 1997
    to 1998, he was the chief technology officer of Infoseek, where
    he created the Infoseek natural language search engine for both
    the Internet search and enterprise applications. From 1991 to
    1995, Dr.&#160;Chang worked as a postdoctoral fellow and
    associate staff researcher with the Cold Spring Harbor
    Laboratory, where he mapped a genome and invented a protein
    sequence search methodology. Dr.&#160;Chang received a
    bachelor&#146;s degree in mathematics from Harvard University
    and a Ph.D. in computer science from the University of
    California, Berkeley.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>William Decker </I>has served as our independent director
    since October 2005. Mr.&#160;Decker currently serves as an
    independent director and the chairman of the audit committee of
    VisionChina Media Inc., a Nasdaq-listed company that operates an
    <FONT style="white-space: nowrap">out-of-home</FONT>
    advertising network in China. He is a retired partner at
    PricewaterhouseCoopers LLP. Prior to his retirement in July
    2005, Mr.&#160;Decker was the partner in charge of
    PricewaterhouseCoopers LLP&#146;s Global Capital Markets Group.
    He led a team of more than 300 professionals in 25 countries
    that provided technical support to
    <FONT style="white-space: nowrap">non-U.S.&#160;companies</FONT>
    on SEC regulations and U.S.&#160;GAAP reporting and assistance
    with the Sarbanes-Oxley Act compliance work. Mr.&#160;Decker
    received a bachelor&#146;s degree in accounting from Fairleigh
    Dickinson University in New Jersey.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>James Ding </I>has served as our independent director since
    our initial public offering in August 2005. Mr.&#160;Ding is a
    managing director of GSR Ventures, a venture capital fund that
    invests primarily in early and growth stage technology companies
    with substantial operations in China. He also has served as the
    co-chairman of the board of directors of AsiaInfo-Linkage Inc.,
    a Nasdaq-listed company, since April 2003 and has served as a
    member of the board of AsiaInfo-Linkage since its inception. He
    served as AsiaInfo-Linkage&#146;s chief executive officer from
    May 1999 to April 2003. He was AsiaInfo-Linkage&#146;s senior
    vice president for business development and chief technology
    officer from 1997 to 1999. Mr.&#160;Ding received a
    master&#146;s degree in information science from the University
    of California, Los Angeles and a bachelor&#146;s degree in
    chemistry from Peking University in China.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Nobuyuki Idei </I>has served as our independent director
    since June 2007. An experienced director, Mr.&#160;Idei also
    currently serves as chairman of the advisory board of Sony
    Corporation, director of Accenture, director of FreeBit Co,
    Ltd., and chairman of the National Conference on Fostering
    Beautiful Forests in Japan. Mr.&#160;Idei is founder and CEO of
    Quantum Leaps Corporation, a specialist consultancy that advises
    private and public institutions on the changing role of
    technology in the 21st&#160;century. From 2000 to 2005,
    Mr.&#160;Idei was chairman and CEO of Sony Corporation. Prior to
    that, he held a range of leadership positions at Sony including
    general manager of the audio division, senior general manager of
    the home video group, and president and representative director.
    Mr.&#160;Idei has also served in a number of other advisory
    positions including as counselor to the Bank of Japan, member of
    Japan&#146;s national IT Strategy Council, and as vice chairman
    of Nippon Keidanren. Mr.&#160;Idei received a bachelor of
    science degree in economics and politics from Waseda University
    in Tokyo.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Greg Penner </I>has served as our director since July 2004.
    Mr.&#160;Penner is a general partner at Madrone Capital
    Partners, an investment management firm based in Menlo Park,
    California. From 2002 to 2004, he was the senior vice president
    and chief financial officer of Wal-Mart Japan. From 2000 to
    2002, Mr.&#160;Penner was senior vice president of finance and
    strategy for Walmart.com. From
    <FONT style="white-space: nowrap">1997-2000,</FONT>
    Mr.&#160;Penner was a general partner at Peninsula Capital, an
    early stage venture capital fund. Previously, he worked in
    strategic planning at Wal-Mart Stores, Inc. and corporate
    finance at Goldman, Sachs&#160;&#038; Co. In addition to Baidu,
    Mr.&#160;Penner also serves as a director of Wal-Mart
</DIV>
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    <BR>
    82
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Stores, Inc., Hyatt Hotels Corporation, eHarmony.com and 99Bill
    Corporation. He is also a director of the Charter Growth Fund
    and sits on the board of Teach for America. Mr.&#160;Penner
    received a bachelor&#146;s degree in international economics
    from the School of Foreign Service at Georgetown University and
    an M.B.A. degree from the Stanford Graduate School of Business.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">B.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Compensation</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In 2010, we paid an aggregate of approximately
    RMB5.2&#160;million (US$0.78&#160;million) in cash compensation
    and granted options to purchase an aggregate of 3,637
    Class&#160;A ordinary shares and 2,210 restricted Class&#160;A
    ordinary shares to our executive officers as a group. We also
    paid an aggregate of approximately RMB0.9&#160;million
    (US$0.1&#160;million) in cash compensation to our non-executive
    directors as a group. We granted 2,478 restricted Class&#160;A
    ordinary shares to our non-executive directors in 2010. Our PRC
    subsidiaries and consolidated affiliated entities are required
    by law to make contributions equal to certain percentages of
    each employee&#146;s salary for his or her pension insurance,
    medical insurance, housing fund, unemployment and other
    statutory benefits. Other than the above-mentioned statutory
    contributions mandated by applicable PRC law, we have not set
    aside or accrued any amount to provide pension, retirement or
    other similar benefits to our executive officers and directors.
    No executive officer is entitled to any severance benefits upon
    termination of his or her employment with our company except as
    required under applicable PRC law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our board of directors and shareholders approved the issuance of
    up to 5,040,000 ordinary shares upon exercise of awards granted
    under our 2000 option plan. As of December&#160;31, 2010, an
    aggregate of 94,660 Class&#160;A ordinary shares were issuable
    upon exercise of outstanding awards granted under our 2000
    option plan. At the annual general meeting held on
    December&#160;16, 2008, our shareholders approved a new
    2008&#160;share incentive plan, which has reserved an additional
    3,428,777 Class&#160;A ordinary shares for awards to be granted
    pursuant to its terms. As of December&#160;31, 2010, options to
    purchase an aggregate of 19,272 Class&#160;A ordinary shares and
    an aggregate of 34,981 restricted shares had been granted under
    the 2008&#160;share incentive plan.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table summarizes, as of December&#160;31, 2010,
    the outstanding options and restricted shares that we granted to
    our current directors and executive officers and to other
    individuals as a group under our 2000 option plan and
    2008&#160;share incentive plan.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="35%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="10%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="16%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="16%">&nbsp;</TD>	<!-- colindex=05 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Ordinary Shares<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Underlying<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Outstanding<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Exercise Price<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Name</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Options</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(US$/Share)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Grant Date</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Expiration Date</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Robin Yanhong Li
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    49.25
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    February&#160;15,&#160;2006
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    February&#160;15,&#160;2011
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    124.90
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    January 24, 2007
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    January 24, 2012
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    133.86
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    February 11, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    February 11, 2014
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,412
</TD>
<TD nowrap align="left" valign="bottom">
    <SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    January 27, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Jennifer Li
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
    <SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    April 16, 2008
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    133.86
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    February 11, 2009
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    February 11, 2014
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    424.36
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    January 27, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    January 26, 2015
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
    <SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    January 27, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William I. Chang
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    124.90
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    January 24, 2007
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    January 24, 2012
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William Decker
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
    <SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    January 27, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    James Ding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
    <SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    January 27, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Nobuyuki Idei
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    183.23
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    January 10, 2008
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    July 25, 2012
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
    <SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    January 27, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Greg Penner
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
    <SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="right" valign="bottom">
    January 27, 2010
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    N/A
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other individuals as a group
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    72,277
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    *&#160;</TD>
    <TD></TD>
    <TD valign="bottom">
    The options and restricted shares in aggregate held by each of
    these directors and officers represent less than 1% of our total
    outstanding shares.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    Restricted shares.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    83
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following paragraphs summarize the key terms of our 2000
    option plan, which was amended and restated on December&#160;16,
    2008, and our 2008&#160;share incentive plan.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">2000
    Option Plan</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Types of Awards.</I>&#160;&#160;We may grant the following
    types of awards under our 2000 option plan:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    our ordinary shares;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    options to purchase our ordinary shares;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any other securities with value derived from the value of our
    ordinary shares.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Plan Administration.</I>&#160;&#160;Our board of directors,
    or a committee designated by our board of directors, administers
    our 2000 option plan. In each case, our board of directors or
    the committee, will determine the provisions and terms and
    conditions of each award grant. These include, among other
    things, the option vesting schedule, repurchase provisions,
    rights of first refusal, forfeiture provisions, form of payment
    upon settlement of an award, payment contingencies and
    satisfaction of any performance criteria.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Award Agreement.</I>&#160;&#160;Awards granted under our 2000
    option plan are evidenced by an award agreement that sets forth
    the terms, conditions and limitations for each award. In
    addition, in the case of options, the award agreement also
    specifies whether the option constitutes an incentive stock
    option, or ISO, or a non-qualifying stock option.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Eligibility.</I>&#160;&#160;We may grant awards to employees,
    directors and consultants of our company or any of our related
    entities, which include our subsidiaries or any entities in
    which we hold a substantial ownership interest. However, we may
    grant ISOs only to our employees and employees of our
    majority-owned subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Acceleration of Awards upon Corporate
    Transactions.</I>&#160;&#160;The outstanding awards will
    accelerate upon occurrence of a
    <FONT style="white-space: nowrap">change-of-control</FONT>
    corporate transaction in which the successor entity does not
    assume our outstanding awards under our 2000 option plan. In
    such event, each outstanding award will become fully vested and
    immediately exercisable, the transfer restrictions on the awards
    will be released (other than those applicable to ISOs), and the
    repurchase or forfeiture rights will terminate immediately
    before the date of the
    <FONT style="white-space: nowrap">change-of-control</FONT>
    transaction. If the successor entity assumes our outstanding
    awards and later terminates the grantee&#146;s employment or
    service without cause, or if the grantee resigns voluntarily
    with good cause within 12&#160;months of the
    <FONT style="white-space: nowrap">change-of-control</FONT>
    transaction, the outstanding awards automatically become fully
    vested and exercisable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Exercise Price and Term of Awards.</I>&#160;&#160;If we grant
    an ISO to an employee, who, at the time of that grant, owns
    shares representing more than 10% of the voting power of all
    classes of our share capital, the exercise price cannot be less
    than 110% of the fair market value of our ordinary shares on the
    date of that grant. To the extent not prohibited by applicable
    law or exchange rules, a downward adjustment of the exercise
    price per share subject to an outstanding option may be made in
    the absolute discretion of the plan administrator without the
    approval of our shareholders or the affected grantees.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The term of each award is stated in the award agreement. The
    term may not exceed ten years from the date of the grant, except
    that five years is the maximum term of an ISO granted to an
    employee who holds more than 10% of the voting power of our
    share capital.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Vesting Schedule.</I>&#160;&#160;In general, the plan
    administrator determines, or the award agreement specifies, the
    vesting schedule. Options generally vest over a four-year period
    beginning from one year after the grant date. The award
    agreements may provide that grantees may elect at any time
    during their employment or service to exercise any part or all
    of the awards prior to full vesting of the awards. But such
    early exercise may be subject to a repurchase right as
    determined by the plan administrator. When an optionee&#146;s
    employment or service is terminated, the optionee may exercise
    his or her options that have vested as of the termination date
    within three months of termination or as determined by our plan
    administrator.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Repurchase Rights.</I>&#160;&#160;If an award agreement
    provides for repurchase rights upon termination of a
    grantee&#146;s employment or service, it must (or may, with
    respect to awards granted to officers, directors or consultants)
    provide that (i)&#160;such repurchase right must be exercised
    within 90&#160;days of termination of the grantee&#146;s
    employment or
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    84
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    service (or, in the case of exercise of awards after termination
    of the grantee&#146;s employment or service, within 90&#160;days
    following such exercise), (ii)&#160;the repurchase price must be
    equal to the original purchase price paid by the grantee for
    each such share, and (iii)&#160;the right to repurchase will
    lapse at the rate of at least 20% of the shares subject to the
    award per year over five years from the date the award is
    granted (without respect to the date the award was exercised or
    became exercisable).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Amendment and Termination.</I>&#160;&#160;Our board of
    directors may at any time amend, suspend or terminate our 2000
    option plan. Amendments to our 2000 option plan are subject to
    shareholder approval, to the extent required by law, or by stock
    exchange rules or regulations. Any amendment, suspension or
    termination of our 2000 option plan must not adversely affect
    awards already granted without written consent of the recipient
    of such awards. Unless terminated earlier, our 2000 option plan
    shall continue in effect for a term of ten years from the date
    of adoption.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">2008&#160;Share
    Incentive Plan</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Types of Awards.</I>&#160;&#160;We may grant the following
    types of awards under our 2008&#160;share incentive plan:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    options;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    restricted shares;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    restricted share units;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    any other form of award granted to a participant pursuant to the
    2008 plan.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Plan Administration.</I>&#160;&#160;The compensation
    committee of our board of directors administers our
    2008&#160;share incentive plan, but may delegate to a committee
    of one or more members of our board of directors the authority
    to grant or amend awards to participants other than independent
    directors and executive officers. The compensation committee
    will determine the provisions and terms and conditions of each
    award grant, including, but not limited to, the exercise price,
    the grant price or purchase price, any restrictions or
    limitations on the award, any schedule for lapse of forfeiture
    restrictions or restrictions on the exercisability of an award,
    and accelerations or waivers thereof, any provisions related to
    non-competition and recapture of gain on an award, based in each
    case on such considerations as the committee in its sole
    discretion determines. The compensation committee has the sole
    power and discretion to cancel, forfeit or surrender an
    outstanding award (whether or not in exchange for another award
    or combination or awards).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Award Agreement.</I>&#160;&#160;Awards granted under our
    2008&#160;share incentive plan are evidenced by an award
    agreement that sets forth the terms, conditions and limitations
    for each award which may include the term of an award, the
    provisions applicable in the event the participant&#146;s
    employment or service ends, and our authority to unilaterally or
    bilaterally amend, modify, suspend, cancel or rescind an award.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Eligibility.</I>&#160;&#160;We may grant awards to employees,
    directors and consultants of our company or any of our related
    entities, which include our subsidiaries or any entities in
    which we hold a substantial ownership interest. However, we may
    grant ISOs only to our employees and employees of our
    majority-owned subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Acceleration of Awards upon Corporate
    Transactions.</I>&#160;&#160;The outstanding awards will
    accelerate upon occurrence of a
    <FONT style="white-space: nowrap">change-of-control</FONT>
    corporate transaction in which the successor entity does not
    assume our outstanding awards under our 2008&#160;share
    incentive plan, provided that the plan participant remains an
    employee, consultant or member of our board of directors on the
    effective date of the corporate transaction. In such event, each
    outstanding award will become fully exercisable and all
    forfeiture restrictions on such award will lapse immediately
    prior to the specified effective date of the corporate
    transaction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the successor entity assumes our outstanding awards and later
    terminates the grantee&#146;s employment or service without
    cause, or if the grantee resigns voluntarily with good reason
    within 12&#160;months of the corporate transaction, the
    outstanding awards automatically will become fully vested and
    exercisable. The compensation committee may also, in its sole
    discretion, upon or in anticipation of a corporate transaction,
    accelerate awards, purchase the awards from the plan
    participants, replace the awards, or provide for the payment of
    the awards in cash.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Exercise Price and Term of Awards.</I>&#160;&#160;The
    exercise price per share subject to an option may be amended or
    adjusted in the absolute discretion of the compensation
    committee, the determination of which shall be final,
</DIV>
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    <BR>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    binding and conclusive. To the extent not prohibited by
    applicable laws or exchange rules, a downward adjustment of the
    exercise prices of options mentioned in the preceding sentence
    shall be effective without the approval of our shareholders or
    the approval of the affected grantees. If we grant an ISO to an
    employee, who, at the time of that grant, owns shares
    representing more than 10% of the voting power of all classes of
    our share capital, the exercise price cannot be less than 110%
    of the fair market value of our ordinary shares on the date of
    that grant. The compensation committee will determine the time
    or times at which an option may be exercised in whole or in
    part, including exercise prior to vesting. The term may not
    exceed ten years from the date of the grant, except that five
    years is the maximum term of an ISO granted to an employee who
    holds more than 10% of the voting power of our share capital.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Restricted Shares and Restricted Share
    Unites.</I>&#160;&#160;The compensation committee is also
    authorized to make awards of restricted shares and restricted
    share units. Except as otherwise determined by the compensation
    committee at the time of the grant of an award or thereafter,
    upon termination of employment or service during the applicable
    restriction period, restricted shares that are at the time
    subject to restrictions shall be forfeited or repurchased in
    accordance with the respective award agreements. At the time of
    grant for restricted share units, the compensation committee
    shall specify the date on which the restricted share units shall
    become fully vested and nonforfeitable, and may specify such
    conditions to vesting as it deems appropriate.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Amendment and Termination.</I>&#160;&#160;With the approval
    of our board of directors, the compensation committee may at any
    time amend, suspend or terminate our 2008&#160;share incentive
    plan. Amendments to our 2008&#160;share incentive plan are
    subject to shareholder approval, to the extent required by law,
    or by stock exchange rules or regulations. Any amendment,
    suspension or termination of our 2008&#160;share incentive plan
    must not adversely affect in any material way awards already
    granted without written consent of the recipient of such awards.
    Unless terminated earlier, our 2008&#160;share incentive plan
    shall continue in effect for a term of ten years from the date
    of adoption.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">C.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Board
    Practices</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Board of
    Directors</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our board of directors has five directors. A director is not
    required to hold any shares in the company by way of
    qualification. A director may vote with respect to any contract,
    proposed contract or arrangement in which he is materially
    interested. A director may exercise all the powers of the
    company to borrow money, mortgage its undertakings, property and
    uncalled capital, and issue debentures or other securities
    whenever money is borrowed or as security for any obligation of
    the company or of any third party. The remuneration to be paid
    to the directors is determined by the board of directors. There
    is no age limit requirement for directors.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Committees
    of the Board of Directors</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have three committees under the board of directors: an audit
    committee, a compensation committee and a corporate governance
    and nominating committee. We have adopted a charter for each of
    the three committees.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Audit
    Committee</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our audit committee consists of Messrs.&#160;William Decker,
    James Ding and Greg Penner, all of whom satisfy the
    &#147;independence&#148; requirements of Rule&#160;5605(a)(2) of
    the NASDAQ Stock Market Rules and
    <FONT style="white-space: nowrap">Rule&#160;10A-3</FONT>
    under the Securities Exchange Act of 1934, as amended. Our board
    of directors has determined that Mr.&#160;Decker is an audit
    committee financial expert as defined in the instructions to
    Item&#160;16A of the
    <FONT style="white-space: nowrap">Form&#160;20-F.</FONT>
    The audit committee oversees our accounting and financial
    reporting processes and the audits of the financial statements
    of our company. The audit committee is responsible for, among
    other things:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    appointing, retaining and overseeing the work of the independent
    auditors, including resolving disagreements between the
    management and the independent auditors relating to financial
    reporting;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    pre-approving all auditing and non-auditing services permitted
    to be performed by the independent auditors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reviewing annually the independence and quality control
    procedures of the independent auditors;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reviewing and approving all proposed related party transactions;
</TD>
</TR>

</TABLE>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    discussing the annual audited financial statements with the
    management;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    meeting separately with the independent auditors to discuss
    critical accounting policies, management letters,
    recommendations on internal controls, the auditor&#146;s
    engagement letter and independence letter and other material
    written communications between the independent auditors and the
    management;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    attending to such other matters that are specifically delegated
    to our audit committee by our board of directors from time to
    time.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In 2010, our audit committee held meetings or passed resolutions
    by unanimous written consent six times.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Compensation
    Committee</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our compensation committee consists of Messrs.&#160;James Ding
    and Greg Penner, both of whom satisfy the
    &#147;independence&#148; requirements of Rule&#160;5605(a)(2) of
    the NASDAQ Stock Market Rules. The compensation committee
    assists the board in reviewing and approving our compensation
    structure, including all forms of compensation relating to our
    directors and executive officers. Our chief executive officer
    may not be present at any committee meeting while his
    compensation is deliberated. The compensation committee is
    responsible for, among other things:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reviewing and approving executive compensation;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reviewing periodically and approving any long-term incentive
    compensation or equity plans, programs or similar arrangements,
    annual bonuses, employee pension and welfare benefit plans;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    determining our policy with respect to change of control or
    &#147;parachute&#148; payments;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    managing and reviewing director and executive officer
    indemnification and insurance matters.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In 2010, our compensation committee passed resolutions by
    unanimous written consent four times.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Corporate
    Governance and Nominating Committee</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our corporate governance and nominating committee consists of
    Messrs.&#160;James Ding and Greg Penner, both of whom satisfy
    the &#147;independence&#148; requirements of
    Rule&#160;5605(a)(2) of the NASDAQ Stock Market Rules. The
    corporate governance and nominating committee assists the board
    of directors in selecting individuals qualified to become our
    directors and in determining the composition of the board and
    its committees. The corporate governance and nominating
    committee is responsible for, among other things:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    recommending to the board nominees for election or re-election
    to the board or for appointments to fill any vacancies;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    reviewing annually the performance of each incumbent director in
    determining whether to recommend such director for an additional
    term;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    overseeing the board in the board&#146;s annual review of its
    own performance and the performance of the management;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    considering, preparing and recommending to the board such
    policies and procedures with respect to corporate governance
    matters as may be required or required to be disclosed under the
    applicable laws or otherwise considered to be material.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In 2010, our corporate governance and nominating committee
    passed resolutions by unanimous written consent once.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Terms of
    Directors and Executive Officers</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    All directors hold office until their successors have been duly
    elected and qualified. None of our directors is subject to a
    fixed term of office. In addition, the service agreements
    between us and the directors do not provide benefits upon
    termination of their services. Director nomination is subject to
    the approval of our corporate governance and nominating
    committee. Our shareholders may remove any director by ordinary
    resolution and may
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    in like manner appoint another person in his stead. A valid
    ordinary resolution requires a majority of the votes cast at a
    shareholder meeting that is duly constituted and meets the
    quorum requirement. Officers are elected by and serve at the
    discretion of the board of directors.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">D.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Employees</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We had 6,387, 7,353 and 10,887&#160;employees as of
    December&#160;31, 2008, 2009 and 2010, respectively. As of
    December&#160;31, 2010, we had 549&#160;employees in management
    and administration, 3,645&#160;employees in research and
    development, 795&#160;employees in operation and service, and
    5,898&#160;employees in sales and marketing. As of
    December&#160;31, 2010, we had 6,837&#160;employees in Beijing,
    4,014&#160;employees outside Beijing but within China, and
    36&#160;employees outside China. We also hire temporary
    employees and contractors from time to time. Our employees are
    not covered by any collective bargaining agreement. We consider
    our relations with our employees to be generally good. However,
    as our operations and employee base further expand, we cannot
    assure you that we will always be able to maintain good
    relations with all of our employees. See &#147;Item&#160;3.D.
    Key Information&#160;&#151; Risk Factors&#160;&#151; Risks
    Related to Our Business&#160;&#151; We may not be able to manage
    our expanding operations effectively.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">E.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Share
    Ownership</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth information with respect to the
    beneficial ownership of our shares as of December&#160;31, 2010
    by:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    each of our current directors and executive officers;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    each person known to us to own beneficially more than 5% of our
    shares.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    See &#147;&#151;&#160;B. Compensation&#148; for more details on
    options and restricted shares granted to our directors and
    executive officers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="82%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares Beneficially Owned</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Directors and Executive Officers:</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Number<SUP style="font-size: 85%; vertical-align: top">(1)</SUP></B>

</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>%<SUP style="font-size: 85%; vertical-align: top">(2)</SUP></B>

</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Robin Yanhong
    Li<SUP style="font-size: 85%; vertical-align: top">(3)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,602,679
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16.1
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Jennifer
    Li<SUP style="font-size: 85%; vertical-align: top">(4)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William
    Chang<SUP style="font-size: 85%; vertical-align: top">(5)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    William
    Decker<SUP style="font-size: 85%; vertical-align: top">(6)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    James
    Ding<SUP style="font-size: 85%; vertical-align: top">(7)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Nobuyuki
    Idei<SUP style="font-size: 85%; vertical-align: top">(8)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Greg
    Penner<SUP style="font-size: 85%; vertical-align: top">(9)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    350,970
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    All Directors and Executive Officers as a
    Group<SUP style="font-size: 85%; vertical-align: top">(10)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,974,881
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17.1
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Principal Shareholders:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Handsome Reward
    Limited<SUP style="font-size: 85%; vertical-align: top">(11)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,490,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.8
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Baillie Gifford&#160;&#038; Co (Scottish
    partnership)<SUP style="font-size: 85%; vertical-align: top">(12)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,621,936
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.5
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    *&#160;</TD>
    <TD></TD>
    <TD valign="bottom">
    Less than 1% of our total outstanding shares.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    The number of shares beneficially owned by each named director
    and executive officer includes the shares beneficially owned by
    such person, the shares underlying all options held by such
    person that have vested or will vest within 60&#160;days after
    December&#160;31, 2010, and restricted shares held by such
    person that will vest within 60&#160;days after
    December&#160;31, 2010. The options and restricted shares were
    granted under our 2000 option plan or 2008&#160;share incentive
    plan.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    Percentage of beneficial ownership of each named director and
    executive officer is based on 34,849,672 ordinary shares
    (consisting of 27,045,340 Class&#160;A ordinary shares and
    7,804,332 Class&#160;B ordinary shares) of our company
    outstanding as of December&#160;31, 2010, the number of ordinary
    shares underlying options that have vested or will vest within
    60&#160;days after December&#160;31, 2010, and the number of
    restricted shares that will vest within 60&#160;days after
    December&#160;31, 2010, each as held by such person as of that
    date.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    88
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD valign="top">
    (3) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes (i)&#160;37,665 Class&#160;A ordinary shares held by
    Mr.&#160;Li, (ii)&#160;35,249 Class&#160;A Ordinary Shares in
    the form of ADSs held in the brokerage account of the
    administrator of our employee stock option program,
    (iii)&#160;39,000 Class&#160;A ordinary shares issuable upon
    exercise of options held by Mr.&#160;Li within 60&#160;days
    after the date of December&#160;31, 2010, (iv)&#160;765
    Class&#160;A Ordinary Shares issuable upon vesting of restricted
    shares within 60&#160;days after the date of December&#160;31,
    2010, and (v)&#160;5,490,000 Class&#160;B ordinary shares held
    by Handsome Reward Limited, a company wholly owned and
    controlled by Mr.&#160;Li. Excludes 1,676,667 Class&#160;B
    ordinary shares held by Melissa Ma, Mr.&#160;Li&#146;s wife, of
    which Mr.&#160;Li disclaims beneficial ownership. The business
    address for Mr.&#160;Li is
    <FONT style="white-space: nowrap">c/o&#160;Baidu,</FONT>
    Inc., Baidu Campus, No.&#160;10 Shangdi 10th Street, Haidian
    District, Beijing 100085, PRC.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    (4) </TD>
    <TD></TD>
    <TD valign="bottom">
    The business address for Ms.&#160;Li is
    <FONT style="white-space: nowrap">c/o&#160;Baidu,</FONT>
    Inc., Baidu Campus, No.&#160;10 Shangdi 10th Street, Haidian
    District, Beijing 100085, PRC.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    (5) </TD>
    <TD></TD>
    <TD valign="bottom">
    The business address for Mr.&#160;Chang is
    <FONT style="white-space: nowrap">c/o&#160;Baidu,</FONT>
    Inc., Baidu Campus, No.&#160;10 Shangdi 10th Street, Haidian
    District, Beijing 100085, PRC.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    (6) </TD>
    <TD></TD>
    <TD valign="bottom">
    The address of Mr.&#160;Decker is 24 Nordic Way, Saranac Lake,
    NY, 12983, USA.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    (7) </TD>
    <TD></TD>
    <TD valign="bottom">
    The business address of Mr.&#160;Ding is 4/F, Zhongdian
    Information Tower No.&#160;6 Zhongguancun South Street, Haidian
    District, Beijing 100086, PRC.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    (8) </TD>
    <TD></TD>
    <TD valign="bottom">
    The business address of Mr.&#160;Idei&#146;s address is Tokyo
    Ginko Kyoukai Building 16F,1-3-1, Marunouchi, Chiyoda-ku, Tokyo,
    <FONT style="white-space: nowrap">100-0005,</FONT>
    Japan.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    (9) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes (i)&#160;50,000 Class&#160;A ordinary shares in the
    form of ADSs held by Mr.&#160;Penner, (ii)&#160;650 restricted
    shares, (iii)&#160;100,000 Class&#160;A ordinary shares in the
    form of ADSs held by Madrone Partners, LP, a fund for which
    Mr.&#160;Penner serves as a managing member of the sole manager,
    (iv)&#160;320 Class&#160;A Ordinary Shares issuable upon vesting
    of restricted shares within 60&#160;days after the date of
    December&#160;31, 2010 and (v),&#160;200,000 Class&#160;B
    ordinary shares held by Shimoda Holdings, LLC. Mr.&#160;Penner
    disclaims beneficial ownership of the shares held by Madrone
    Partners, LP, except to the extent of his pecuniary interest
    therein. The business address for Mr.&#160;Penner is 3000 Sand
    Hill Road, Building 1, Suite&#160;150, Menlo Park, California
    94025, U.S.A.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    (10) </TD>
    <TD></TD>
    <TD valign="bottom">
    Includes ordinary shares, ordinary shares issuable upon exercise
    of options and restricted shares, held by all of our directors
    and executive officers as a group.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    (11) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents 5,490,000 Class&#160;B ordinary shares held by
    Handsome Reward Limited, a British Virgin Island company wholly
    owned and controlled by Mr.&#160;Robin Yanhong Li. The business
    address of Handsome Reward Limited is
    <FONT style="white-space: nowrap">c/o&#160;Robin</FONT>
    Yanhong Li, Baidu, Inc., Baidu Campus, No.&#160;10 Shangdi 10th
    Street, Haidian District, Beijing 100085, PRC.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    (12) </TD>
    <TD></TD>
    <TD valign="bottom">
    Represents 2,621,936 Class&#160;A ordinary shares in the form of
    ADSs held by Baillie Gifford&#160;&#038; Co (Scottish
    partnership), as reported on Schedule&#160;13G filed by Baillie
    Gifford&#160;&#038; Co (Scottish partnership) on
    January&#160;25, 2011. The percentage of beneficial ownership
    was calculated based on the total number of our ordinary shares
    outstanding as of December&#160;31, 2010. The address of Baillie
    Gifford&#160;&#038; Co (Scottish partnership) is Calton Square,
    1 Greenside Row, Edinburgh EH1 3AN, Scotland, UK.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our ordinary shares are divided into Class&#160;A ordinary
    shares and Class&#160;B ordinary shares. Holders of Class&#160;A
    ordinary shares are entitled to one vote per share, while
    holders of Class&#160;B ordinary shares are entitled to 10 votes
    per share. We issued Class&#160;A ordinary shares represented by
    our ADSs in our initial public offering in 2005. Holders of our
    Class&#160;B ordinary shares may choose to convert their
    Class&#160;B ordinary shares into the same number of
    Class&#160;A ordinary shares at any time. We are not aware of
    any arrangement that may, at a subsequent date, result in a
    change of control of our company. See &#147;Item&#160;3.D. Key
    Information&#160;&#151; Risk Factors&#160;&#151; Risks Related
    to Our ADSs&#160;&#151; Our dual-class ordinary share structure
    with different voting rights could discourage others from
    pursuing any change of control transactions that holders of our
    Class&#160;A ordinary shares and ADSs may view as
    beneficial.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of December&#160;31, 2010, 34,849,672 of our ordinary shares
    were issued and outstanding. To our knowledge, approximately
    78.7% of our total outstanding ordinary shares were held by six
    record shareholders in the United States, including
    approximately 77.5% held by The Bank of New York Mellon, the
    depositary of our ADS program. The number of beneficial owners
    of our ADSs in the United States is likely to be much larger
    than the number of record holders of our ordinary shares in the
    United States.
</DIV>
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    89
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="8%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;7.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360111'></A><B><FONT style="font-family: 'Times New Roman', Times">Major
    Shareholders and Related Party Transactions</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">A.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Major
    Shareholders</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Please refer to &#147;Item&#160;6.E. Directors, Senior
    Management and Employees&#160;&#151; Share Ownership.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">B.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Related
    Party Transactions</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    See &#147;Item&#160;4.C. Information on the Company&#160;&#151;
    Organizational Structure&#160;&#151; Contractual Arrangements
    with Baidu Netcom and Its Shareholders,&#148;
    &#147;&#151;&#160;Contractual Arrangements with Beijing Perusal
    and Its Shareholders,&#146;&#146; &#147;&#151;&#160;Contractual
    Arrangements with BaiduPay and Its Shareholder,&#148; and
    &#147;&#151;&#160;Contractual Arrangements with Baidu HR and Its
    Shareholder.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our subsidiaries, variable interest entities, or VIEs, and
    VIEs&#146; subsidiaries have engaged, during the ordinary course
    of business, in a number of customary transactions with each
    other. All of these inter-company balances have been eliminated
    in consolidation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of December&#160;31, 2008, 2009 and 2010, we had
    RMB10.7&#160;million, nil, and RMB98.7&#160;million
    (US$14.9&#160;million) due from related parties. The amounts due
    from related parties generally represent payments due from
    advertising services and borrowings provided by us to our equity
    investees. These amounts due from our equity investees, are
    unsecured, and repayable on contract terms, which arose in the
    ordinary course of business. The amounts outstanding as of
    December&#160;31, 2010 and March&#160;29, 2011 were
    RMB98.7&#160;million (US$14.9&#160;million) and
    RMB98.7&#160;million (US$14.9&#160;million), respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of December&#160;31, 2008, 2009 and 2010, we had nil, nil,
    and RMB95.7&#160;million (US$14.5&#160;million) due to related
    parties. The amounts due to related parties represents unsecured
    and interest free short-term loans provided by our equity
    investees, which arose in the ordinary course of business. The
    amounts outstanding as of December&#160;31, 2010 and March 29,
    2011 were RMB95.7 million (US$14.5&#160;million) and
    RMB95.7&#160;million (US$14.5&#160;million), respectively.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Share
    Options and Restricted Shares&#160;Grants</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Please refer to &#147;Item&#160;6.B. Directors, Senior
    Management and Employees&#160;&#151; Compensation.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">C.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Interests
    of Experts and Counsel</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="8%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;8.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360112'></A><B><FONT style="font-family: 'Times New Roman', Times">Financial
    Information</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">A.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Consolidated
    Statements and Other Financial Information</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have appended consolidated financial statements filed as part
    of this annual report.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Legal
    Proceedings</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    From time to time, we have been involved in litigation or other
    disputes regarding, among other things, copyright and trademark
    infringement, defamation, unfair competition and labor disputes.
    Our search results provide links to materials, and our Baidu
    Post Bar, Baidu Knows, Baidu Space and other Baidu communities
    may contain materials, in which others may allege to own
    copyrights, trademarks or image rights or which others may claim
    to be defamatory or objectionable. We have received notice
    letters from third parties asserting copyright infringement,
    unfair competition, defamation, breach of contract and
    labor-related claims against us.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of December&#160;31, 2010, we were involved in 50 cases
    pending in various PRC courts, including the cases summarized
    below. The aggregate amount of compensation sought under these
    cases is approximately RMB132.9&#160;million
    (US$20.1&#160;million).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In March 2008, we received complaints filed by three record
    companies against us, alleging, among other things, that we have
    aided illegal online copying of music by providing links to
    pirated music. In January 2010, the
</DIV>
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    <BR>
    90
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    First Intermediate People&#146;s Court of Beijing, in separately
    issued rulings, dismissed the complaints filed by the three
    record companies. Applying the Protection of the Right of
    Communication through Information Network, which was promulgated
    by the State Council and became effective on July&#160;1, 2006,
    the court held that the record companies&#146; claims lacked
    factual and legal basis. The plaintiffs have filed appeals with
    the High People&#146;s Court of Beijing. In December 2009, the
    Haidian District People&#146;s Court in Beijing issued a ruling
    against us in a lawsuit filed by the Music Copyright Society of
    China. In the ruling, the court held that our display of certain
    song lyrics in response to users&#146; search requests
    constituted infringement of the plaintiff&#146;s rights of
    communication through information network, and ordered us to pay
    for the plaintiff&#146;s damages and litigation related
    expenses. We appealed the court&#146;s ruling with the First
    Intermediate People&#146;s Court of Beijing. On July&#160;19,
    2010, the First Intermediate People&#146;s Court of Beijing
    ruled in the plaintiff&#146;s favor, and upheld the award for
    the plaintiff. See &#147;Item&#160;3.D. Key
    Information&#160;&#151; Risk Factors&#160;&#151; Risks Related
    to Our Business&#160;&#151; We may face intellectual property
    infringement claims and other related claims that could be
    time-consuming and costly to defend and may result in our
    inability to continue providing certain of our existing
    services.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In January 2009, we received a complaint filed by a medical
    company alleging that we had violated the new PRC Anti-Monopoly
    Law by abusing our dominant market position to screen out the
    website of the medical company. In December 2009, the First
    Intermediate People&#146;s Court of Beijing issued a ruling
    dismissing all the claims made by the plaintiff. In the ruling,
    the court held, among other things, that the plaintiff&#146;s
    allegation that we have abused dominant market position as
    defined in the Anti-Monopoly Law lacks factual and legal
    support. The plaintiff filed an appeal with the High
    People&#146;s Court of Beijing. On July&#160;9, 2010, the High
    People&#146;s Court of Beijing upheld the First Intermediate
    People&#146;s Court&#146;s ruling in favor of us. The plaintiff
    has not filed any further appeals. Because the Anti-Monopoly Law
    is still new, and there have been very few court rulings and no
    judicial or administrative interpretations on certain key
    concepts used in the law, there is no assurance that a court
    would reach the same conclusion in a similar case against us in
    the future.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In June 2009, a plaintiff filed a lawsuit against us in the
    U.S.&#160;District Court for the Southern District of New York,
    alleging that we had infringed its copyrights to certain music
    works. In December 2009, the court granted our motion to dismiss
    the complaint on the grounds of insufficient service of process
    and lack of personal jurisdiction. The plaintiff did not appeal
    the court&#146;s ruling.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Although we cannot predict with certainty the results of pending
    litigation and claims, we believe that the final outcome of
    pending litigation and claims will not have a material adverse
    effect on our business and results of operations. Regardless of
    the outcome, however, any litigation can result in substantial
    costs and diversion of management resources and attention.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Dividend
    Policy</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have never declared or paid any dividends, nor do we have any
    present plan to pay any cash dividends on our ordinary shares in
    the foreseeable future. We currently intend to retain most, if
    not all, of our available funds and any future earnings to
    operate and expand our business.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our board of directors has complete discretion whether to
    distribute dividends. Even if our board of directors decides to
    pay dividends, the form, frequency and amount of our dividends
    will depend upon our future operations and earnings, capital
    requirements and surplus, financial condition, contractual
    restrictions and other factors that our board of directors may
    deem relevant. If we pay any dividends, we will pay our ADS
    holders to the same extent as holders of our ordinary shares,
    subject to the terms of the deposit agreement, including the
    fees and expenses payable thereunder. Cash dividends on our
    ordinary shares, if any, will be paid in U.S.&#160;dollars.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">B.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Significant
    Changes</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Except as disclosed elsewhere in this annual report, we have not
    experienced any significant changes since the date of our
    audited consolidated financial statements included in this
    annual report.
</DIV>
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    <BR>
    91
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="8%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;9.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360113'></A><B><FONT style="font-family: 'Times New Roman', Times">The
    Offer and Listing</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">A.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Offering
    and Listing
    Details</FONT></U><FONT style="font-family: 'Times New Roman', Times">.</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our ADSs have been listed on The NASDAQ Global Market since
    August&#160;5, 2005. Our ADSs currently trade on The NASDAQ
    Global Select Market under the symbol &#147;BIDU.&#148; Prior to
    May&#160;12, 2010, one ADS represented one Class&#160;A ordinary
    share. On May&#160;12, 2010, we effected a change of the ADS to
    Class&#160;A ordinary share ratio from 1 ADS representing 1
    Class&#160;A ordinary share to 10 ADSs representing 1
    Class&#160;A ordinary share. The ratio change has the same
    effect as a
    <FONT style="white-space: nowrap">10-for-1</FONT> ADS
    split.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table provides the high and low trading prices for
    our ADSs on the NASDAQ for (1)&#160;the years 2006, 2007, 2008,
    2009 and 2010, (2)&#160;each of the four quarters of 2009 and
    2010 and (3)&#160;each of the past six months. For ease of
    comparison, the ADS prices before May&#160;12, 2010 have been
    retroactively adjusted to reflect the ADS to Class&#160;A
    ordinary share ratio change that took effect on May&#160;12,
    2010.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="83%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Sales Price</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>High</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Low</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Annual High and Low</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2006
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12.87
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.44
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2007
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42.92
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39.77
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.05
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44.33
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.50
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    115.04
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38.47
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Quarterly Highs and Lows</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    First Quarter 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19.77
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.50
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Second Quarter 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31.03
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Third Quarter 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40.80
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26.80
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Fourth Quarter 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44.33
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    First Quarter 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    62.85
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38.47
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Second Quarter 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    82.29
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    59.68
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Third Quarter 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    107.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    65.90
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Fourth Quarter 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    115.04
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    94.33
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Monthly Highs and Lows</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    September 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    107.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    79.90
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    October 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    113.78
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    95.12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    November 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    115.04
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    103.11
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    December 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    112.08
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    94.33
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    January 2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    109.92
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    97.58
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    February 2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    131.63
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    112.95
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    March 2011 (through March 28, 2011)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    136.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    133.40
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">B.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Plan
    of Distribution </FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">C.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Markets
    </FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our ADSs have been listed on the NASDAQ since August&#160;5,
    2005 under the symbol &#147;BIDU.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">D.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Selling
    Shareholders </FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    92
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">E.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Dilution
    </FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">F.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Expenses
    of the Issue</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;10.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360114'></A><B><FONT style="font-family: 'Times New Roman', Times">Additional
    Information</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">A.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Share
    Capital</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">B.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Memorandum
    and Articles of Association</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following are summaries of material provisions of our third
    amended and restated memorandum and articles of association, as
    well as the Companies Law (2010 Revision) insofar as they relate
    to the material terms of our ordinary shares.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Registered
    Office and Objects</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Registered Office of our company is at the offices of Maples
    Corporate Services Limited, PO&#160;Box&#160;309, Ugland House,
    Grand Cayman, KY1-1104, Cayman Islands or at such other place as
    our board of directors may from time to time decide. The objects
    for which our company is established are unrestricted and we
    have full power and authority to carry out any object not
    prohibited by the Companies Law (2010 Revision), as amended from
    time to time, or any other law of the Cayman Islands.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Board of
    Directors</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    See &#147;Item&#160;6.C. Board Practices&#160;&#151; Board of
    Directors.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Ordinary
    Shares</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>General.</I></B>&#160;&#160;Our ordinary shares are
    divided into Class&#160;A ordinary shares and Class&#160;B
    ordinary shares. Holders of Class&#160;A ordinary shares and
    Class&#160;B ordinary shares have the same rights except for
    voting and conversion rights. All of our outstanding ordinary
    shares are fully paid and non-assessable. Certificates
    representing the ordinary shares are issued in registered form.
    Our shareholders who are nonresidents of the Cayman Islands may
    freely hold and vote their shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Dividends.</I></B>&#160;&#160;The holders of our ordinary
    shares are entitled to such dividends as may be declared by our
    board of directors subject to the Companies Law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Conversion.</I></B>&#160;&#160;Each Class&#160;B ordinary
    share is convertible into one Class&#160;A ordinary share at any
    time by the holder thereof. Class&#160;A ordinary shares are not
    convertible into Class&#160;B ordinary shares under any
    circumstances. Upon any transfer of Class&#160;B ordinary shares
    by a holder thereof to any person or entity which is not an
    affiliate of such holder (as defined in our articles of
    incorporation), such Class&#160;B ordinary shares shall be
    automatically and immediately converted into the equal number of
    Class&#160;A ordinary shares. In addition, if at any time our
    chairman and chief executive officer, Robin Yanhong Li, and his
    affiliates collectively own less than 5% of the total number of
    the issued and outstanding Class&#160;B ordinary shares, each
    issued and outstanding Class&#160;B ordinary share shall be
    automatically and immediately converted into one share of
    Class&#160;A ordinary share, and we shall not issue any
    Class&#160;B ordinary shares thereafter.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Voting Rights.</I></B>&#160;&#160;All of our shareholders
    have the right to receive notice of shareholders&#146; meetings
    and to attend, speak and vote at such meetings. In respect of
    matters requiring shareholders&#146; vote, each Class&#160;A
    ordinary share is entitled to one vote, and each Class&#160;B
    ordinary share is entitled to 10 votes. A shareholder may
    participate at a shareholders&#146; meeting in person, by proxy
    or by telephone conference or other communications equipment by
    means of which all the shareholders participating in the meeting
    can communicate with each other. At any
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    shareholders&#146; meeting, a resolution put to the vote of the
    meeting shall be decided on a poll conducted by the chairman of
    the meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A quorum for a shareholders&#146; meeting consists of one or
    more shareholders holding at least one third of the paid up
    voting share capital present in person or by proxy or, if a
    corporation or other non-natural person, by its duly authorized
    representative. We shall, if required by the Companies Law, hold
    a general meeting of shareholders as our annual general meeting
    and shall specify the meeting as such in the notices calling it.
    Our board of directors may call extraordinary general meetings,
    and they must on shareholders&#146; requisition convene an
    extraordinary general meeting. A shareholder requisition is a
    requisition of shareholders holding at the date of deposit of
    the requisition not less than a majority of the voting power
    represented by the issued shares of our company as at that date
    carries the right of voting at general meetings of our company.
    Advance notice of at least five days is required for the
    convening of our annual general meeting and other
    shareholders&#146; meetings.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    An ordinary resolution to be passed by the shareholders requires
    the affirmative vote of a simple majority of the votes attaching
    to the ordinary shares cast in a general meeting, while a
    special resolution requires the affirmative vote of no less than
    two-thirds of the votes cast attaching to the ordinary shares
    cast in a general meeting. A special resolution is required for
    matters such as a change of name. Holders of the ordinary shares
    may effect certain changes by ordinary resolution, including
    consolidating and dividing all or any of our share capital into
    shares of larger amount than our existing share capital and
    canceling any shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Transfer of Shares.</I></B>&#160;&#160;Subject to the
    restrictions of our memorandum and articles of association, as
    applicable, any of our shareholders may transfer any or all of
    his or her ordinary shares by an instrument of transfer in the
    usual or common form or any other form approved by our board of
    directors.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our board of directors may, in their absolute discretion (except
    with respect to a transfer from a shareholder to its
    affiliate(s)), decline to register any transfer of shares
    without assigning any reason thereof. If our board of directors
    refuses to register a transfer they shall notify the transferee
    within two months of such refusal. Notwithstanding the
    foregoing, if a transfer complies with the holder&#146;s
    transfer obligations and restrictions set forth under applicable
    law (including but not limited to U.S.&#160;securities law
    provisions related to insider trading) and our articles of
    association, our board of directors shall promptly register such
    transfer. Further, any director is authorized to confirm in
    writing addressed to the registered office to authorize a share
    transfer and to instruct that the register of members be updated
    accordingly, provided that the transfer complies with the
    holder&#146;s transfer obligations and restrictions set forth
    under applicable law and our articles of association and such
    holder is not the director who authorizes the transfer or an
    entity affiliated with such director. Any director is authorized
    to execute a share certificate in respect of such shares for and
    on behalf of our company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The registration of transfers may be suspended at such time and
    for such periods as our board of directors may from time to time
    determine, provided, however, that the registration of transfers
    shall not be suspended for more than 45&#160;days in any year.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Liquidation.</I></B>&#160;&#160;On a return of capital on
    winding up or otherwise (other than on conversion, redemption or
    purchase of shares), assets available for distribution among the
    holders of ordinary shares may be distributed among the holders
    of the ordinary shares as determined by the liquidator, subject
    to sanction of a special resolution of our company. If our
    assets available for distribution are insufficient to repay all
    of the
    <FONT style="white-space: nowrap">paid-up</FONT>
    capital, the assets will be distributed so that the losses are
    borne by our shareholders proportionately to the capital paid
    up, or which ought to have been paid up, at the commencement of
    the winding up on the shares held by such shareholders
    respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Calls on Shares and Forfeiture of
    Shares.</I></B>&#160;&#160;Our board of directors may from time
    to time make calls upon shareholders for any amounts unpaid on
    their shares in a notice served to such shareholders at least
    14&#160;days prior to the specified time and place of payment.
    The shares that have been called upon and remain unpaid on the
    specified time are subject to forfeiture.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Redemption of Shares.</I></B>&#160;&#160;Subject to the
    provisions of the Companies Law and our articles of association,
    we may issue shares on terms that are subject to redemption, at
    our option or at the option of the holders, on such terms and in
    such manner as our board of directors may determine.
</DIV>
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    <BR>
    94
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Repurchase of Shares.</I></B>&#160;&#160;Subject to the
    provisions of the Companies Law and our articles of association,
    our board of directors may authorize repurchase of our shares in
    accordance with the manner of purchase specified in our articles
    of association without seeking shareholder approval.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Variations of Rights of Shares.</I></B>&#160;&#160;All or
    any of the special rights attached to any class of shares may,
    subject to the provisions of the Companies Law, be varied either
    with the written consent of the holders of a majority of the
    issued shares of that class or with the sanction of a special
    resolution passed at a general meeting of the holders of the
    shares of that class.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><I>Inspection of Books and Records.</I></B>&#160;&#160;No
    holders of our ordinary shares who is not a director shall have
    any right of inspecting any of our accounts, books or documents
    except as conferred by the Companies Law or authorized by the
    directors or by us in general meeting. However, we will make
    this annual report, which contains our audited financial
    statements, available to shareholders and ADS holders. See
    &#147;Item&#160;10.H. Additional Information&#160;&#151;
    Documents on Display.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Preferred
    Shares</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our board of directors has the authority, without shareholder
    approval, to issue up to a total of 10,000,000&#160;shares of
    preferred shares in one or more series. Our board of directors
    may establish the number of shares to be included in each such
    series and may set the designations, preferences, powers and
    other rights of the shares of a series of preferred shares.
    While the issuance of preferred shares provides us with
    flexibility in connection with possible acquisitions or other
    corporate purposes, it could, among other things, have the
    effect of delaying, deferring or preventing a change of control
    transaction and could adversely affect the market price of our
    ADSs. We have no current plan to issue any preferred shares.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">C.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Material
    Contracts</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have not entered into any material contracts other than in
    the ordinary course of business and other than those described
    in &#147;Item&#160;4. Information on the Company&#148; or
    elsewhere in this annual report on
    <FONT style="white-space: nowrap">Form&#160;20-F.</FONT>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">D.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Exchange
    Controls </FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    See &#147;Item&#160;4.B. Information on the Company&#160;&#151;
    Business Overview&#160;&#151; Regulation&#160;&#151; Regulations
    on Foreign Exchange.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">E.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Taxation</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following summary of the material Cayman Islands,
    People&#146;s Republic of China and United States federal income
    tax consequences of an investment in our ADSs or ordinary shares
    is based upon laws and relevant interpretations thereof in
    effect as of the date of this annual report, all of which are
    subject to change. This summary does not deal with all possible
    tax consequences relating to an investment in our ADSs or
    ordinary shares, such as the tax consequences under state, local
    and other tax laws.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Cayman
    Islands Taxation</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    According to Maples and Calder, our Cayman Islands counsel, the
    Cayman Islands currently levies no taxes on individuals or
    corporations based upon profits, income, gains or appreciation
    and there is no taxation in the nature of inheritance tax or
    estate duty. There are no other taxes likely to be material to
    us levied by the Government of the Cayman Islands except for
    stamp duties which may be applicable on instruments executed in,
    or brought within, the jurisdiction of the Cayman Islands. The
    Cayman Islands is not party to any double tax treaties that are
    applicable to any payments made to or by our Company. There are
    no exchange control regulations or currency restrictions in the
    Cayman Islands.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">People&#146;s
    Republic of China Taxation</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If we are considered a PRC resident enterprise under the EIT
    Law, our shareholders and ADS holders who are deemed
    non-resident enterprises may be subject to the 10% EIT on the
    dividends payable by us or any gains realized
</DIV>
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    <BR>
    95
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    from the transfer of our shares or ADSs, if such income is
    deemed derived from China, provided that (i)&#160;such foreign
    enterprise investor has no establishment or premises in China,
    or (ii)&#160;it has establishment or premises in China but its
    income derived from China has no real connection with such
    establishment or premises. Furthermore, if we are considered a
    PRC resident enterprise and relevant PRC tax authorities
    consider the dividends we pay with respect to our shares or ADSs
    and the gains realized from the transfer of our shares or ADSs
    to be income derived from sources within the PRC, such dividends
    and gains earned by non-resident individuals may be subject to
    the 20% PRC individual income tax.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If we are required under the PRC tax laws to withhold PRC income
    tax on our dividends payable to our non-PRC shareholders and ADS
    holders, or if any gains realized from the transfer of our
    shares or ADSs by our non-PRC shareholders and ADS holders are
    subject to the EIT or the individual income tax, your investment
    in our shares or ADSs could be materially and adversely affected.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">United
    States Federal Income Taxation</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following discussion describes certain material United
    States federal income tax considerations under present law of
    the purchase, ownership and disposition of the ADSs or ordinary
    shares. This summary applies only to investors that are
    U.S.&#160;Holders (as defined below) and that hold the ADSs or
    ordinary shares as capital assets and that have the
    U.S.&#160;dollar as their functional currency. This discussion
    is based on the tax laws of the United States as in effect on
    the date of this
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    and on United States Treasury regulations in effect or, in some
    cases, proposed, as of the date of this
    <FONT style="white-space: nowrap">Form&#160;20-F,</FONT>
    as well as judicial and administrative interpretations thereof
    available on or before such date. All of the foregoing
    authorities are subject to change, which change could apply
    retroactively and could affect the tax considerations described
    below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following discussion does not deal with the tax consequences
    to any particular investor or to persons in special tax
    situations such as:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    banks;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    financial institutions;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    insurance companies;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    broker dealers;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    traders that elect to mark to market;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    tax-exempt entities;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    persons liable for alternative minimum tax;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    regulated investment companies;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    certain expatriates or former long-term residents of the United
    States;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    governments or agencies or instrumentalities thereof;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    persons holding an ADS or ordinary share as part of a straddle,
    hedging, conversion or integrated transaction;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    persons that actually or constructively own 10% or more of our
    voting shares;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    persons holding ADSs or ordinary shares through partnerships or
    other pass-through entities;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    persons who acquired ADSs or ordinary shares pursuant to the
    exercise of any employee share option or otherwise as
    consideration.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>U.S.&#160;Holders are urged to consult their tax advisors
    about the application of the United States federal tax rules to
    their particular circumstances as well as the state and local
    and foreign tax consequences to them of the purchase, ownership
    and disposition of ADSs or ordinary shares.</B>
</DIV>
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    <BR>
    96
</DIV><!-- END PAGE WIDTH -->
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The discussion below of the United States federal income tax
    consequences will apply if you are a
    &#147;U.S.&#160;Holder.&#148; You are a
    &#147;U.S.&#160;Holder&#148; if you are the beneficial owner of
    ADSs or ordinary shares and you are, for United States federal
    income tax purposes,
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a citizen or individual resident of the United States;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a corporation (or other entity subject to tax as a corporation
    for United States federal income tax purposes) that is created
    or organized in or under the laws of the United States, any
    State or the District of Columbia;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    an estate whose income is subject to United States federal
    income taxation regardless of its source;&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    a trust that (1)&#160;is subject to the supervision of a court
    within the United States and the control of one or more United
    States persons or (2)&#160;has a valid election in effect under
    applicable United States Treasury regulations to be treated as a
    United States person.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This discussion does not consider the tax treatment of
    partnerships or other pass-through entities that hold the ADSs
    or ordinary shares, or of persons who hold the ADSs or ordinary
    shares through such entities. If a partnership (or other entity
    classified as a partnership for U.S.&#160;federal income tax
    purposes) is the beneficial owner of the ADSs or ordinary
    shares, the U.S.&#160;federal income tax treatment of a partner
    in the partnership will generally depend on the status of the
    partner and the activities of the partnership.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The discussion below assumes that the representations contained
    in the deposit agreement are true and that the obligations in
    the deposit agreement and any related agreement will be complied
    with in accordance with their terms. If you hold ADSs, you will
    be treated as the holder of the underlying ordinary shares
    represented by those ADSs for United States federal income tax
    purposes.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This discussion does not address any aspect of U.S.&#160;federal
    non-income tax laws, such as gift or estate tax laws, or state,
    local or
    <FONT style="white-space: nowrap">non-U.S.&#160;tax</FONT>
    laws. We have not sought, and will not seek, a ruling from the
    Internal Revenue Service, or the IRS, or an opinion as to any
    U.S.&#160;federal income tax consequence described herein. The
    IRS may disagree with the discussion herein, and its
    determination may be upheld by a court.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Taxation
    of Dividends and Other Distributions on the ADSs or Ordinary
    Shares</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Subject to the passive foreign investment company rules
    discussed below, the gross amount of all our distributions to
    you with respect to the ADSs or ordinary shares will be included
    in your gross income as dividend income on the date of receipt
    by the depositary, in the case of ADSs, or by you, in the case
    of ordinary shares, but only to the extent that the distribution
    is paid out of our current or accumulated earnings and profits
    (computed under United States federal income tax principles).
    The dividends will not be eligible for the dividends-received
    deduction allowed to corporations in respect of dividends
    received from U.S.&#160;corporations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    With respect to non-corporate U.S.&#160;Holders (including
    individual U.S.&#160;Holders) for taxable years beginning before
    January&#160;1, 2013, dividends may be taxed at the lower
    applicable capital gains rate (&#147;qualified dividend
    income&#148;) provided that (1)&#160;the ADSs or ordinary shares
    are readily tradable on an established securities market in the
    United States or we are eligible for the benefit of the income
    tax treaty between the United States and the PRC, (2)&#160;we
    are not a passive foreign investment company (as discussed
    below) for either our taxable year in which the dividend was
    paid or the preceding taxable year, (3)&#160;certain holding
    period requirements are met, and (4)&#160;such non-corporate
    U.S.&#160;Holders are not under an obligation to make related
    payments with respect to positions in substantially similar or
    related property. For this purpose, ADSs listed on the Nasdaq
    Global Market will generally be considered to be readily
    tradable on an established securities market in the United
    States. You should consult your tax advisor regarding the
    availability of the lower rate for dividends paid with respect
    to our ADSs or ordinary shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Dividends will constitute foreign source income for foreign tax
    credit limitation purposes. If PRC withholding taxes apply to
    dividends paid to you with respect to the ADSs or ordinary
    shares, you may be able to obtain a reduced rate of PRC
    withholding taxes under the income tax treaty between the United
    States and the PRC if certain requirements are met. In addition,
    subject to certain conditions and limitations, PRC withholding
    taxes on dividends may be treated as foreign taxes eligible for
    credit against your U.S.&#160;federal income tax liability.
    U.S.&#160;Holders should consult their own tax advisors
    regarding the creditability of any PRC tax. The limitation on
    foreign taxes eligible for
</DIV>
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    <BR>
    97
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    credit is calculated separately with respect to specific classes
    of income. For this purpose, dividends distributed by us with
    respect to ADSs or ordinary shares will generally constitute
    &#147;passive category income&#148; but could, in the case of
    certain U.S.&#160;Holders, constitute &#147;general category
    income.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    To the extent that the amount of the distribution exceeds our
    current and accumulated earnings and profits, it will be treated
    first as a tax-free return of your tax basis in your ADSs or
    ordinary shares, and to the extent the amount of the
    distribution exceeds your tax basis, the excess will be taxed as
    capital gain. We do not intend to calculate our earnings and
    profits for United States federal income tax purposes.
    Therefore, a U.S.&#160;Holder should expect that a distribution
    will be reported as a dividend.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Taxation
    of Disposition of Shares</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Subject to the passive foreign investment company rules
    discussed below, you will recognize taxable gain or loss on any
    sale, exchange or other taxable disposition of an ADS or
    ordinary share equal to the difference between the amount
    realized (in U.S.&#160;dollars) for the ADS or ordinary share
    and your tax basis (in U.S.&#160;dollars) in the ADS or ordinary
    share. The gain or loss will generally be capital gain or loss.
    If you are a non-corporate U.S.&#160;Holder, including an
    individual U.S.&#160;Holder, who has held the ADS or ordinary
    share for more than one year, you will generally be eligible for
    reduced tax rates. The deductibility of capital losses is
    subject to limitations. Any such gain or loss that you recognize
    will generally be treated as United States source income or loss
    (in the case of losses, subject to certain limitations).
    However, in the event we are deemed to be a Chinese
    &#147;resident enterprise&#148; under PRC tax law, we may be
    eligible for the benefits of the income tax treaty between the
    United States and the PRC. In such event, if PRC tax were to be
    imposed on any gain from the disposition of the ADSs or ordinary
    shares, a U.S.&#160;Holder that is eligible for the benefits of
    the income tax treaty between the United States and the PRC may
    elect to treat such gain as PRC source income. U.S.&#160;Holders
    should consult their own tax advisors regarding the
    creditability of any PRC tax.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Passive
    Foreign Investment Company</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Based on the market value of our ADSs and ordinary shares, the
    composition of our assets and income and our operations, we
    believe that for our taxable year ended December&#160;31, 2010,
    we were not a passive foreign investment company
    (&#147;PFIC&#148;) for United States federal income tax
    purposes. However, our PFIC status for the current taxable year
    ending December&#160;31, 2011 will not be determinable until its
    close, and, accordingly, there is no guarantee that we will not
    be a PFIC for the current taxable year (or any future taxable
    year). A
    <FONT style="white-space: nowrap">non-U.S.&#160;corporation</FONT>
    is considered a PFIC for any taxable year if either:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    at least 75% of its gross income is passive income (the
    &#147;income test&#148;),&#160;or
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    at least 50% of the value of its assets (based on an average of
    the quarterly values of the assets during a taxable year) is
    attributable to assets that produce or are held for the
    production of passive income (the &#147;asset test&#148;).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will be treated as owning our proportionate share of the
    assets and earning our proportionate share of the income of any
    other corporation in which we own, directly or indirectly, more
    than 25% (by value) of the shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We must make a separate determination each year as to whether we
    are a PFIC. As a result, our PFIC status may change. In
    particular, because the total value of our assets for purposes
    of the asset test will generally be calculated using the market
    price of our ADSs and ordinary shares, our PFIC status will
    depend in large part on the market price of our ADSs and
    ordinary shares which may fluctuate considerably. Accordingly,
    fluctuations in the market price of the ADSs and ordinary shares
    may result in our being a PFIC for any year. If we are a PFIC
    for any year during which you hold ADS or ordinary shares, we
    will generally continue to be treated as a PFIC for all
    succeeding years during which you hold ADS or ordinary shares.
    However, if we cease to be a PFIC, provided that you have not
    made a
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    election, as described below, you may avoid some of the adverse
    effects of the PFIC regime by making a deemed sale election with
    respect to the ADSs or ordinary shares, as applicable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If we are a PFIC for any taxable year during which you hold ADSs
    or ordinary shares, you will be subject to special tax rules
    with respect to any &#147;excess distribution&#148; that you
    receive and any gain you realize from a sale or other
    disposition (including a pledge) of the ADSs or ordinary shares,
    unless you make a
    <FONT style="white-space: nowrap">&#147;mark-to-market&#148;</FONT>
    election
</DIV>
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    <BR>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    as discussed below. Distributions you receive in a taxable year
    that are greater than 125% of the average annual distributions
    you received during the shorter of the three preceding taxable
    years or your holding period for the ADSs or ordinary shares
    will be treated as an excess distribution. Under these special
    tax rules:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the excess distribution or gain will be allocated ratably over
    your holding period for the ADSs or ordinary shares,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the amount allocated to the current taxable year, and any
    taxable year prior to the first taxable year in which we became
    a PFIC, will be treated as ordinary income,&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    the amount allocated to each other taxable year will be subject
    to the highest tax rate in effect for that taxable year and the
    interest charge generally applicable to underpayments of tax
    will be imposed on the resulting tax attributable to each such
    taxable year.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The tax liability for amounts allocated to years prior to the
    year of disposition or &#147;excess distribution&#148; cannot be
    offset by any net operating losses for such years, and gains
    (but not losses) realized on the sale of the ADSs or ordinary
    shares cannot be treated as capital, even if you hold the ADSs
    or ordinary shares as capital assets.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Alternatively, a U.S.&#160;Holder of &#147;marketable
    stock&#148; (as defined below) in a PFIC may make a
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    election for such stock of a PFIC to elect out of the tax
    treatment discussed in the two preceding paragraphs. If you make
    a valid
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    election for the ADSs or ordinary shares, you will include in
    income each year an amount equal to the excess, if any, of the
    fair market value of the ADSs or ordinary shares as of the close
    of your taxable year over your adjusted basis in such ADSs or
    ordinary shares. You are allowed a deduction for the excess, if
    any, of the adjusted basis of the ADSs or ordinary shares over
    their fair market value as of the close of the taxable year.
    Such deductions, however, are allowable only to the extent of
    any net
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    gains on the ADSs or ordinary shares included in your income for
    prior taxable years. Amounts included in your income under a
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    election, as well as gain on the actual sale or other
    disposition of the ADSs or ordinary shares, are treated as
    ordinary income. Ordinary loss treatment also applies to the
    deductible portion of any
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    loss on the ADSs or ordinary shares, as well as to any loss
    realized on the actual sale or disposition of the ADSs or
    ordinary shares, to the extent that the amount of such loss does
    not exceed the net
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    gains previously included for such ADSs or ordinary shares. Your
    basis in the ADSs or ordinary shares will be adjusted to reflect
    any such income or loss amounts. If you make such a
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    election, tax rules that apply to distributions by corporations
    which are not PFICs would apply to distributions by us (except
    that the lower applicable capital gains rate would not apply).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    election is available only for &#147;marketable stock&#148;
    which is stock that is traded in other than <I>de minimis
    </I>quantities on at least 15&#160;days during each calendar
    quarter (&#147;regularly traded&#148;) on a qualified exchange
    or other market, as defined in applicable Treasury regulations.
    We expect that the ADSs will continue to be listed on the Nasdaq
    National Market, which is a qualified exchange for these
    purposes, and, consequently, assuming that the ADSs are
    regularly traded, if you are a holder of ADSs, it is expected
    that the
    <FONT style="white-space: nowrap">mark-to-market</FONT>
    election would be available to you were we to become a PFIC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Alternatively, a U.S.&#160;Holder may avoid the PFIC tax
    consequences described above in respect to its ADSs and ordinary
    shares by making a timely &#147;qualified electing fund,&#148;
    or QEF, election. In order to comply with the requirements of a
    QEF election, a U.S.&#160;Holder must receive certain
    information from us. We, however, do not intend to provide such
    information.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If you hold ADSs or ordinary shares in any year in which we are
    a PFIC, you will be required to file Internal Revenue Service
    Form&#160;8621 regarding distributions received on the ADSs or
    ordinary shares and any gain realized on the disposition of the
    ADSs or ordinary shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    You are urged to consult your tax advisor regarding the
    application of the PFIC rules to your investment in ADSs or
    ordinary shares.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Information
    Reporting and Backup Withholding</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Dividend payments with respect to ADSs or ordinary shares and
    proceeds from the sale, exchange or redemption of ADSs or
    ordinary shares may be subject to information reporting to the
    IRS and possible U.S.&#160;backup
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    withholding at a current rate of 28%. Backup withholding will
    not apply, however, to a U.S.&#160;Holder that furnishes a
    correct taxpayer identification number and makes any other
    required certification or that is otherwise exempt from backup
    withholding. U.S.&#160;Holders that are required to establish
    their exempt status generally must provide such certification on
    Internal Revenue Service
    <FONT style="white-space: nowrap">Form&#160;W-9.</FONT>
    U.S.&#160;Holders should consult their tax advisors regarding
    the application of the U.S.&#160;information reporting and
    backup withholding rules.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the Hiring Incentives to Restore Employment Act
    enacted on March&#160;18, 2010, in tax years beginning after the
    date of enactment, an individual U.S.&#160;Holder and certain
    entities may be required to submit to the IRS certain
    information with respect to his or her beneficial ownership of
    the ADSs or ordinary shares, if such ADSs or ordinary shares are
    not held on his or her behalf by a U.S.&#160;financial
    institution. This new law also imposes penalties if an
    individual U.S.&#160;Holder is required to submit such
    information to the IRS and fails to do so.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Backup withholding is not an additional tax. Amounts withheld as
    backup withholding can be credited against your
    U.S.&#160;federal income tax liability, and you may obtain a
    refund of any excess amounts withheld under the backup
    withholding rules by timely filing the appropriate claim for
    refund with the Internal Revenue Service and furnishing any
    required information in a timely manner.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">F.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Dividends
    and Paying Agents</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">G.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Statement
    by Experts</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">H.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Documents
    on Display</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We previously filed with the SEC our registration statement on
    <FONT style="white-space: nowrap">Form&#160;F-1,</FONT>
    as amended and prospectus under the Securities Act of 1933, with
    respect to our ordinary shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We are subject to the periodic reporting and other informational
    requirements of the Securities Exchange Act of 1934, as amended,
    or the Exchange Act. Under the Exchange Act, we are required to
    file reports and other information with the SEC. Specifically,
    we are required to file annually a
    <FONT style="white-space: nowrap">Form&#160;20-F:</FONT>
    (1)&#160;within six months after the end of each fiscal year,
    which is December&#160;31, for fiscal years ending before
    December&#160;15, 2011; and (2)&#160;within four months after
    the end of each fiscal year for fiscal years ending on or after
    December&#160;15, 2011. Copies of reports and other information,
    when so filed, may be inspected without charge and may be
    obtained at prescribed rates at the public reference facilities
    maintained by the Securities and Exchange Commission at
    100&#160;F&#160;Street, N.E., Room&#160;1580,
    Washington,&#160;D.C. 20549. The public may obtain information
    regarding the Washington,&#160;D.C. Public Reference Room by
    calling the Commission at
    <FONT style="white-space: nowrap">1-800-SEC-0330.</FONT>
    The SEC also maintains a website at www.sec.gov that contains
    reports, proxy and information statements, and other information
    regarding registrants that make electronic filings with the SEC
    using its EDGAR system. As a foreign private issuer, we are
    exempt from the rules under the Exchange Act prescribing the
    furnishing and content of quarterly reports and proxy
    statements, and officers, directors and principal shareholders
    are exempt from the reporting and short-swing profit recovery
    provisions contained in Section&#160;16 of the Exchange Act.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We will furnish The Bank of New York Mellon, the depositary of
    our ADSs, with our annual reports, which will include a review
    of operations and annual audited consolidated financial
    statements prepared in conformity with U.S.&#160;GAAP, and all
    notices of shareholders&#146; meetings and other reports and
    communications that are made generally available to our
    shareholders. The depositary will make such notices, reports and
    communications available to holders of ADSs and, upon our
    request, will mail to all record holders of ADSs the information
    contained in any notice of a shareholders&#146; meeting received
    by the depositary from us.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In accordance with NASDAQ Stock Market Rule&#160;5250(d), we
    will post this annual report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    on our website at
    <FONT style="white-space: nowrap">http://ir.baidu.com.</FONT>
    In addition, we will provide hardcopies of our annual report
    free of charge to shareholders and ADS holders upon request.
</DIV>
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    <BR>
    100
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">I.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Subsidiary
    Information</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;11.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360115'></A><B><FONT style="font-family: 'Times New Roman', Times">Quantitative
    and Qualitative Disclosures About Market Risk</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Interest
    Rate Risk</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our exposure to interest rate risk primarily relates to excess
    cash invested in short-term fixed income instruments with
    original maturities of less than a year. Investments in both
    fixed rate and floating rate interest earning instruments carry
    a degree of interest rate risk. Fixed rate securities may have
    their fair market value adversely impacted due to a rise in
    interest rates, while floating rate securities may produce less
    income than expected if interest rates fall. Due in part to
    these factors, our future investment income may fall short of
    expectations due to changes in interest rates, or we may suffer
    losses in principal if we have to sell securities which have
    declined in market value due to changes in interest rates. We
    have not been, and do not expect to be, exposed to material
    interest rate risks, and therefore have not used any derivative
    financial instruments to manage our interest risk exposure.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We had RMB376.5&#160;million (US$57.0&#160;million) short-term
    investments as of December&#160;31, 2010, with a weighted
    average duration of approximately 0.1&#160;year. A hypothetical
    one percentage point (100 basis-point) increase in interest
    rates would have resulted in a decrease of approximately
    RMB0.4&#160;million (US$0.1&#160;million) in the fair value of
    our fixed-income investments at December&#160;31, 2010.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Foreign
    Exchange Risk</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Most of our revenues and costs are denominated in RMB, while a
    significant portion of our cash and cash equivalents and
    short-term financial assets are denominated in U.S.&#160;dollars
    and held by the Cayman holding company. Our exposure to foreign
    exchange risk primarily relates to those financial assets
    denominated in U.S.&#160;dollars. Any significant revaluation of
    RMB against the U.S.&#160;dollar may materially affect our
    revenues, earnings and financial position, and the value of, and
    any dividends payable on, our ADS in U.S.&#160;dollars. See
    &#147;Item&#160;3.D. Key Information&#160;&#151; Risk
    Factors&#160;&#151; Risks Related to Doing Business in
    China&#160;&#151; Fluctuation in the value of the RMB may have a
    material adverse effect on your investment.&#148; In addition,
    we commenced operation in Japan in late 2007. To the extent we
    need to make capital injections into our Japan operation by
    converting U.S.&#160;dollars into Japanese Yen, we will be
    exposed to the fluctuations in the exchange rate between the
    U.S.&#160;dollar and the Japanese Yen. We have not hedged
    exposures denominated in foreign currencies using any derivative
    financial instruments.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The RMB appreciated by 3.31% against the U.S.&#160;dollar in
    2010. A hypothetical 10% decrease in the exchange rate of the
    U.S.&#160;dollar against the RMB would have resulted in a
    decrease of RMB32.1&#160;million (US$4.9&#160;million) in the
    value of our U.S.&#160;dollar-denominated financial assets at
    December&#160;31, 2010.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;12.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360116'></A><B><FONT style="font-family: 'Times New Roman', Times">Description
    of Securities Other than Equity Securities</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">A.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Debt
    Securities</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">B.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Warrants
    and Rights</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">C.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">Other
    Securities</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>
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    <BR>
    101
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">D.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><U><FONT style="font-family: 'Times New Roman', Times">American
    Depositary Shares</FONT></U></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Fees and
    Charges Our ADS holders May Have to Pay</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Bank of New York Mellon, the depositary of our ADS program,
    collects its fees for delivery and surrender of ADSs directly
    from investors depositing shares or surrendering ADSs for the
    purpose of withdrawal or from intermediaries acting for them.
    The depositary collects fees for making distributions to
    investors by deducting those fees from the amounts distributed
    or by selling a portion of distributable property to pay the
    fees. The depositary may collect its annual fee for depositary
    services by deductions from cash distributions or by directly
    billing investors or by charging the book-entry system accounts
    of participants acting for them. The depositary may generally
    refuse to provide fee-attracting services until its fees for
    those services are paid.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="48%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Persons depositing or<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>withdrawing shares must pay:</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>For:</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
    US$5.00 (or less) per 1,000 ADSs (or portion of 1,000 ADSs)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
<DIV style="text-indent: -4pt; margin-left: 4pt">
    &#149;&#160;&#160;&#160;Issuance of ADSs, including issuances
    resulting from a distribution of shares or rights or other
    property
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
<DIV style="text-indent: -4pt; margin-left: 4pt">
    &#149;&#160;&#160;&#160;Cancellation of ADSs for the purpose of
    withdrawal, including if the deposit agreement terminates
</DIV>
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
    US$0.02 (or less) per ADS
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
<DIV style="text-indent: -4pt; margin-left: 4pt">
    &#149;&#160;&#160;&#160;Any cash distribution to registered ADS
    holders
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    A fee equivalent to the fee that would be payable if securities
    distributed had been shares and the shares had been deposited
    for issuance of ADSs
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
<DIV style="text-indent: -4pt; margin-left: 4pt">
    &#149;&#160;&#160;&#160;Distribution of securities distributed
    to holders of deposited securities which are distributed by the
    depositary to registered ADS holders
</DIV>
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
    US$0.02 (or less) per ADS per calendar year (if the depositary
    has not collected any cash distribution fee during that year)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -4pt; margin-left: 4pt">
    &#149;&#160;&#160;&#160;Depositary services
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    Expenses of the depositary
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
<DIV style="text-indent: -4pt; margin-left: 4pt;">
&#149;&#160;&#160;&#160;Cable, telex and facsimile transmissions (when expressly provided in the deposit agreement)<BR>
</DIV>
<DIV style="text-indent: -0pt; margin-left: 0pt;">
<BR>
</DIV>
<DIV style="text-indent: -4pt; margin-left: 4pt;">
&#149;&#160;&#160;&#160;Converting foreign currency to U.S. dollars
</DIV>
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
    Registration or transfer fees
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
<DIV style="text-indent: -4pt; margin-left: 4pt">
    &#149;&#160;&#160;&#160;Transfer and registration of shares on
    our share register to or from the name of the depositary or its
    agent when you deposit or withdraw shares
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    Taxes and other governmental charges the depositary or the
    custodian have to pay on any ADS or share underlying an ADS, for
    example, stock transfer taxes, stamp duty or withholding taxes
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -4pt; margin-left: 4pt">
    &#149;&#160;&#160;&#160;As necessary
</DIV>
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
    Any charges incurred by the depositary or its agents for
    servicing the deposited securities
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -4pt; margin-left: 4pt">
    &#149;&#160;&#160;&#160;As necessary
</DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Fees and
    Other Payments Made by the Depositary to Us</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The depositary has agreed to reimburse us annually for our
    expenses incurred in connection with investor relationship
    programs and any other program related to our ADS facility and
    the travel expense of our key personnel in connection with such
    programs. The depositary has also agreed to provide additional
    payments to us based on the applicable performance indicators
    relating to our ADS facility. There are limits on the amount of
    expenses for which the depositary will reimburse us, but the
    amount of reimbursement available to us is not necessarily tied
    to the amount of fees the depositary collects from investors.
    For the year ended December&#160;31, 2010, we have received
    US$3.5&#160;million (subject to applicable withholding tax)
    reimbursement from the depositary for our expenses incurred in
    connection with investor relationship programs related to the
    ADS facility and the travel expense of our key personnel in
    connection with such programs.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    102
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='H04360117'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">PART&#160;II</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;13.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360118'></A><B><FONT style="font-family: 'Times New Roman', Times">Defaults,
    Dividend Arrearages and Delinquencies</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    None.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;14.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360119'></A><B><FONT style="font-family: 'Times New Roman', Times">Material
    Modifications to the Rights of Security Holders and Use of
    Proceeds</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    None.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;15.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360120'></A><B><FONT style="font-family: 'Times New Roman', Times">Controls
    and Procedures</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Evaluation
    of Disclosure Controls and Procedures</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our management, with the participation of our chief executive
    officer and chief financial officer, has performed an evaluation
    of the effectiveness of our disclosure controls and procedures
    (as defined in
    <FONT style="white-space: nowrap">Rule&#160;13a-15(e)</FONT>
    under the Exchange Act) as of the end of the period covered by
    this report, as required by
    <FONT style="white-space: nowrap">Rule&#160;13a-15(b)</FONT>
    under the Exchange Act.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Based upon that evaluation, our management has concluded that,
    as of December&#160;31, 2010, our disclosure controls and
    procedures were effective in ensuring that the information
    required to be disclosed by us in the reports that we file and
    furnish under the Exchange Act was recorded, processed,
    summarized and reported, within the time periods specified in
    the SEC&#146;s rules and forms, and that the information
    required to be disclosed by us in the reports that we file or
    submit under the Exchange Act is accumulated and communicated to
    our management, including our chief executive officer and chief
    financial officer, to allow timely decisions regarding required
    disclosure.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Management&#146;s
    Annual Report on Internal Control over Financial
    Reporting</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our management is responsible for establishing and maintaining
    adequate internal control over financial reporting, as defined
    in
    <FONT style="white-space: nowrap">Rule&#160;13a-15(f)</FONT>
    under the Exchange Act. Our management evaluated the
    effectiveness of our internal control over financial reporting,
    as required by
    <FONT style="white-space: nowrap">Rule&#160;13a-15(c)</FONT>
    of the Exchange Act, based on criteria established in the
    framework in <I>Internal Control-Integrated Framework </I>issued
    by the Committee of Sponsoring Organizations of the Treadway
    Commission. Based on this evaluation, our management has
    concluded that our internal control over financial reporting was
    effective as of December&#160;31, 2010.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Because of its inherent limitations, internal control over
    financial reporting may not prevent or detect misstatements. In
    addition, projections of any evaluation of effectiveness of our
    internal control over financial reporting to future periods are
    subject to the risk that controls may become inadequate because
    of changes in conditions, or that the degree of compliance with
    the policies and procedures may deteriorate.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our independent registered public accounting firm,
    Ernst&#160;&#038; Young Hua Ming, has audited the effectiveness
    of our internal control over financial reporting as of
    December&#160;31, 2010, as stated in its report, which appears
    on
    <FONT style="white-space: nowrap">page&#160;F-2</FONT>
    of this annual report on
    <FONT style="white-space: nowrap">Form&#160;20-F.</FONT>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Changes
    in Internal Control over Financial Reporting</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    There were no changes in our internal controls over financial
    reporting that occurred during the period covered by this annual
    report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    that have materially affected, or are reasonably likely to
    materially affect, our internal control over financial reporting.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;16A.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360121'></A><B><FONT style="font-family: 'Times New Roman', Times">Audit
    Committee Financial Expert</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our board of directors has determined that Mr.&#160;William
    Decker, an independent director (under the standards set forth
    in NASDAQ Stock Market Rule&#160;5605(a)(2) and
    <FONT style="white-space: nowrap">Rule&#160;10A-3</FONT>
    under the Exchange Act) and member of our audit committee, is an
    audit committee financial expert.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    103
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;16B.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360122'></A><B><FONT style="font-family: 'Times New Roman', Times">Code
    of Ethics</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Our board of directors adopted a code of business conduct and
    ethics that applies to our directors, officers, employees and
    advisors in July 2005. We have posted a copy of our code of
    business conduct and ethics on our website at
    <FONT style="white-space: nowrap">http://ir.baidu.com.</FONT>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;16C.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360123'></A><B><FONT style="font-family: 'Times New Roman', Times">Principal
    Accountant Fees and Services</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth the aggregate fees by categories
    specified below in connection with certain professional services
    rendered by Ernst&#160;&#038; Young Hua Ming, our principal
    external auditors, for the periods indicated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="71%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="6%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Audit
    fees<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    US$
</TD>
<TD nowrap align="right" valign="bottom">
    917,066
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    US$
</TD>
<TD nowrap align="right" valign="bottom">
    1,082,121
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Audit-related fees
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Tax
    fees<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    US$
</TD>
<TD nowrap align="right" valign="bottom">
    9,523
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    US$
</TD>
<TD nowrap align="right" valign="bottom">
    9,848
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    All other fees
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    &#147;Audit fees&#148; means the aggregate fees billed in each
    of the fiscal years listed for professional services rendered by
    our principal auditors for the audit of our annual financial
    statements. In 2009 and 2010, the audit refers to integrated
    audit, including financial audit and audit pursuant to
    Section&#160;404 of the Sarbanes-Oxley Act of 2002.</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    (2) </TD>
    <TD></TD>
    <TD valign="bottom">
    &#147;Tax fees&#148; means the aggregate fees billed in each of
    the fiscal years listed for professional services rendered by
    our principal auditors for tax compliance, tax advice, and tax
    planning. In 2009 and 2010, the tax fees refer to fees paid to
    our principal auditors to review the compliance of our tax
    documentation.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    All audit and non-audit services provided by our independent
    auditors must be pre-approved by our audit committee. Our audit
    committee has adopted a combination of two approaches in
    pre-approving proposed services: general pre-approval and
    specific pre-approval. With general approval, proposed services
    are pre-approved without consideration of specific
    <FONT style="white-space: nowrap">case-by-case</FONT>
    services; with specific approval, proposed services require the
    specific pre-approval of the audit committee. Unless a type of
    service has received general pre-approval, it will require
    specific pre-approval by our audit committee. Any proposed
    services exceeding pre-approved cost levels or budgeted amounts
    will also require specific pre-approval by our audit committee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    All requests or applications for services to be provided by our
    independent auditors that do not require specific approval by
    our audit committee will be submitted to our chief financial
    officer and must include a detailed description of the services
    to be rendered. The chief financial officer will determine
    whether such services are included within the list of services
    that have received the general pre-approval of the audit
    committee. The audit committee will be informed on a timely
    basis of any such services. Requests or applications to provide
    services that require specific approval by our audit committee
    will be submitted to the audit committee by both our independent
    auditors and our chief financial officer and must include a
    joint statement as to whether, in their view, the request or
    application is consistent with the SEC&#146;s rules on auditor
    independence.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;16D.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360124'></A><B><FONT style="font-family: 'Times New Roman', Times">Exemptions
    from the Listing Standards for Audit Committees</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;16E.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360125'></A><B><FONT style="font-family: 'Times New Roman', Times">Purchases
    of Equity Securities by the Issuer and Affiliated
    Purchasers</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    None.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;16F.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360126'></A><B><FONT style="font-family: 'Times New Roman', Times">Change
    in Registrant&#146;s Certifying Accountant</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Not applicable.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    104
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;16G.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360127'></A><B><FONT style="font-family: 'Times New Roman', Times">Corporate
    Governance</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    NASDAQ Stock Market Rule&#160;5620 requires each issuer to hold
    an annual meeting of shareholders no later than one year after
    the end of the issuer&#146;s fiscal year-end. However, NASDAQ
    Stock Market Rule&#160;5615(a)(3) permits foreign private
    issuers like us to follow &#147;home country practice&#148; in
    certain corporate governance matters. Maples and Calder, our
    Cayman Islands counsel, has provided a letter to the NASDAQ
    Stock Market certifying that under Cayman Islands law, we are
    not required to hold annual shareholder meetings every year. We
    follow home country practice with respect to annual meetings and
    did not hold an annual meeting of shareholders in 2010. We may,
    however, hold annual shareholder meetings in the future if there
    are significant issues that require shareholders&#146; approvals.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Other than the annual meeting practice described above, there
    are no significant differences between our corporate governance
    practices and those followed by U.S.&#160;domestic companies
    under NASDAQ Stock Market Rules.
</DIV>

<A name='H04360128'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">PART&#160;III</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;17.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360129'></A><B><FONT style="font-family: 'Times New Roman', Times">Financial
    Statements</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have elected to provide financial statements pursuant to
    Item&#160;18.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;18.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360130'></A><B><FONT style="font-family: 'Times New Roman', Times">Financial
    Statements</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The consolidated financial statements of Baidu, Inc. and its
    subsidiaries are included at the end of this annual report.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>


<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">Item&#160;19.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <A name='H04360131'></A><B><FONT style="font-family: 'Times New Roman', Times">Exhibits</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=01 type=align1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="86%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Exhibit<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Number</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Description of Document</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    1
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Third Amended and Restated Memorandum and Articles of
    Association of the Registrant (incorporated by reference to
    Exhibit&#160;99.2 of
    <FONT style="white-space: nowrap">Form&#160;6-K</FONT>
    furnished with the Securities and Exchange Commission on
    December&#160;17, 2008)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Registrant&#146;s Specimen American Depositary Receipt
    (incorporated by reference to Exhibit&#160;1 of the prospectus
    filed with the Securities and Exchange Commission on
    January&#160;5, 2009 pursuant to Rule&#160;424(b)(3) under the
    Securities Act)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Registrant&#146;s Specimen Certificate for Class&#160;A Ordinary
    Shares (incorporated by reference to Exhibit&#160;4.2 of
    Amendment No.&#160;5 to our Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    August&#160;2, 2005)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    2
</TD>
<TD nowrap align="left" valign="top">
    .3
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Deposit Agreement among the Registrant, the depositary
    and holder of the American Depositary Receipts (incorporated by
    reference to Exhibit&#160;4.3 to our Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Second Amended and Restated Shareholders Agreement, dated as of
    June&#160;9, 2004, among the Registrant and other parties
    therein (incorporated by reference to Exhibit&#160;4.4 of our
    Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .2
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2000 Option Plan (amended and restated effective
    December&#160;16, 2008) (incorporated by reference to
    Exhibit&#160;99.3 of
    <FONT style="white-space: nowrap">Form&#160;6-K</FONT>
    furnished with the Securities and Exchange Commission on
    December&#160;17, 2008)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .3
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2008&#160;Share Incentive Plan (incorporated by reference to
    Exhibit&#160;99.4 of
    <FONT style="white-space: nowrap">Form&#160;6-K</FONT>
    furnished with the Securities and Exchange Commission on
    December&#160;17, 2008)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .4
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Indemnification Agreement with the Registrant&#146;s
    directors (incorporated by reference to Exhibit&#160;10.3 of our
    Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    105
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=01 type=align1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="86%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Exhibit<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Number</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Description of Document</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .5
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Form of Employment Agreement between the Registrant and an
    Executive Officer of the Registrant (incorporated by reference
    to Exhibit&#160;10.4 of our Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .6
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of Technology Consulting and Services Agreement
    dated as of March&#160;22, 2005 between Baidu Online and Baidu
    Netcom (incorporated by reference to Exhibit&#160;99.2 of our
    Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .7
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of Business Cooperation Agreement dated as of
    March&#160;22, 2005 between Baidu Online and Baidu Netcom
    (incorporated by reference to Exhibit&#160;99.3 of our
    Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .8
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of Operating Agreement dated as of March&#160;22,
    2005 between Baidu Online and Baidu Netcom (incorporated by
    reference to Exhibit&#160;99.4 of our Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .9
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of Software License Agreement dated as of
    March&#160;22, 2005 between Baidu Online and Baidu Netcom
    (incorporated by reference to Exhibit&#160;99.5 of our
    Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .10
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of Trademark License Agreement dated as of
    March&#160;1, 2004 between Baidu Online and Baidu Netcom and the
    supplementary agreement dated as of January&#160;18, 2005
    (incorporated by reference to Exhibit&#160;99.6 of our
    Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .11
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of Domain Name License Agreement dated as of
    March&#160;1, 2004 between Baidu Online and Baidu Netcom and the
    supplementary agreement dated August&#160;9, 2004 (incorporated
    by reference to Exhibit&#160;99.7 of our Registration Statement
    on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .12
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of Web Layout Copyright License Agreement dated as
    of March&#160;1, 2004 between Baidu Online and Baidu Netcom and
    the supplementary agreement dated as of August&#160;9, 2004
    (incorporated by reference to Exhibit&#160;99.8 of our
    Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .13
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of Proxy Agreement dated as of August&#160;9, 2004
    among Baidu Online, Baidu Netcom, Robin Yanhong Li and Eric Yong
    Xu (incorporated by reference to Exhibit&#160;99.9 of our
    Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .14
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of Equity Pledge Agreement dated as of
    March&#160;22, 2005 among Baidu Online, Robin Yanhong Li and
    Eric Yong Xu (incorporated by reference to Exhibit&#160;99.10 of
    our Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .15
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of Exclusive Equity Purchase Option Agreement dated
    as of March&#160;22, 2005 among Baidu Online, Robin Yanhong Li
    and Eric Yong Xu (incorporated by reference to
    Exhibit&#160;99.11 of our Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .16
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of Loan Agreement dated as of March&#160;22, 2005
    among Baidu Online, Robin Yanhong Li and Eric Yong Xu
    (incorporated by reference to Exhibit&#160;99.12 of our
    Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .17
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of Form of Irrevocable Powers of Attorney issued by
    the shareholders of Baidu Netcom (incorporated by reference to
    Exhibit&#160;99.13 of our Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    106
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=01 type=align1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="86%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Exhibit<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Number</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Description of Document</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .18
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the form of Technology Consulting and Services
    Agreement between Baidu Online and a consolidated affiliated PRC
    entity (incorporated by reference to Exhibit&#160;4.19 of our
    Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    filed with the Securities and Exchange Commission on
    June&#160;5, 2008)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .19
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the form of Operating Agreement between Baidu
    Online and a consolidated affiliated PRC entity (incorporated by
    reference to Exhibit&#160;4.20 of our Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    filed with the Securities and Exchange Commission on
    June&#160;5, 2008)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .20
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the form of Web Layout Copyright License
    Agreement between Baidu Online and a consolidated affiliated PRC
    entity (incorporated by reference to Exhibit&#160;4.21 of our
    Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    filed with the Securities and Exchange Commission on
    June&#160;5, 2008)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .21
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the form of Proxy Agreement among Baidu Online, a
    consolidated affiliated PRC entity and the shareholders of the
    consolidated affiliated PRC entity (incorporated by reference to
    Exhibit&#160;4.22 of our Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    filed with the Securities and Exchange Commission on
    June&#160;5, 2008)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .22
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the form of Equity Pledge Agreement between Baidu
    Online and the shareholder of a consolidated affiliated PRC
    entity (incorporated by reference to Exhibit&#160;4.23 of our
    Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    filed with the Securities and Exchange Commission on
    June&#160;5, 2008)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .23
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the form of Exclusive Equity Purchase Option
    Agreement between Baidu Online and the shareholder of a
    consolidated affiliated PRC entity (incorporated by reference to
    Exhibit&#160;4.24 of our Annual Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    filed with the Securities and Exchange Commission on
    June&#160;5, 2008)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .24
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the form of Loan Agreement between Baidu Online
    and the shareholder of a consolidated affiliated PRC entity
    (incorporated by reference to Exhibit&#160;4.25 of our Annual
    Report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    filed with the Securities and Exchange Commission on
    June&#160;5, 2008)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .25*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Technology Consulting and Services Agreement
    dated as of June&#160;23, 2006 between Baidu Online and Beijing
    Perusal
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .26*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Operating Agreement dated as of June&#160;23,
    2006 between Baidu Online, Beijing Perusal, Jiping Liu and Yazhu
    Zhang and the supplementary agreement dated as of April&#160;22,
    2010
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .27*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Webpage Layout Copyright License Agreement
    dated as of June&#160;23, 2006 between Baidu Online and Beijing
    Perusal
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .28*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Proxy Agreement dated as of June&#160;23,
    2006 among Jiping Liu, Yazhu Zhang and Baidu Online
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .29*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Equity Pledge Agreements between Baidu Online
    and Jiping Liu, and between Baidu Online and Yazhu Zhang, both
    dated as of June&#160;19, 2006
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .30*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Exclusive Equity Purchase Option Agreements
    between Baidu Online, Jiping Liu and Beijing Perusal, and
    between Baidu Online, Yazhu Zhang and Beijing Perusal, both
    dated as of May&#160;19, 2006, and supplemental agreements dated
    as of April&#160;22, 2010
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .31*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of Form of Irrevocable Powers of Attorney issued by
    Jiping Liu and Yazhu Zhang, the shareholders of Baidu Perusal,
    both dated June&#160;23, 2006
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .32*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Loan Agreements between Baidu Online and
    Jiping Liu and between Baidu Online and Yazhu Zhang, both dated
    as of May&#160;19, 2006
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .33*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Technology Consulting and Services Agreement
    dated as of February&#160;28, 2008 between Baidu Online and
    BaiduPay and the supplementary agreement dated as of
    April&#160;22, 2010
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .34*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Operating Agreement dated as of
    February&#160;28, 2008 between Baidu Online, BaiduPay, Jun Yu
    and Beijing Netcom and the supplementary agreement dated as of
    April&#160;22, 2010
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .35*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Webpage Layout Copyright License Agreement
    dated as of February&#160;28, 2008 between Baidu Online and
    BaiduPay
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .36*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Proxy Agreement between Hu Cai and Baidu
    Online, dated as of March&#160;5, 2010
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .37*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Equity Pledge Agreement between Baidu Online
    and Hu Cai, dated March&#160;5, 2010
</TD>
</TR>
</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    107
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=01 type=align1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="86%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Exhibit<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Number</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Description of Document</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .38*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Exclusive Equity Purchase Option Agreement
    between Baidu Online, Hu Cai and BaiduPay, dated as of
    March&#160;5, 2010
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .39*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of Form of Irrevocable Powers of Attorney issued by
    Hu Cai, the individual shareholder of BaiduPay, dated as of
    March&#160;5, 2010
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .40*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Loan Agreement between Baidu Online and Hu
    Cai, dated March&#160;5, 2010
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .41*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Technology Consulting and Services Agreement
    dated as of December&#160;28, 2010 between Baidu HR and Baidu
    Online
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .42*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Operating Agreement dated as of
    December&#160;28, 2010 between Baidu HR, Baidu Online and
    Yanhong Li
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .43*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Proxy Agreement between Yanhong Li and Baidu
    Online, dated December&#160;28, 2010
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .44*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Equity Pledge Agreement between Yanhong Li
    and Baidu Online, dated December&#160;28, 2010
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .45*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Exclusive Equity Purchase Option Agreement
    between Baidu HR, Baidu Online and Yanhong Li, dated
    December&#160;28, 2010
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .46*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Loan Agreement between Baidu Online and
    Yanhong Li, dated December&#160;28, 2010
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .47*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Trademark Transfer Agreement between Baidu
    Online and Baidu Netcom, dated March&#160;1, 2010
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .48*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the supplementary agreements, dated as of
    March&#160;11, 2010 and April&#160;22, 2010 to the Software
    License Agreement dated as of March&#160;22, 2005 between Baidu
    Online and Baidu Netcom
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .49*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the supplementary agreements, dated March&#160;1,
    2010 and April&#160;22, 2010 to the Trademark License Agreement
    dated as of March&#160;1, 2004 between Baidu Online and Baidu
    Netcom and the supplementary agreement dated as of
    January&#160;18, 2005
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .50*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the supplementary agreement dated as of
    March&#160;1, 2010 to the Web Layout Copyright License Agreement
    dated as of March&#160;1, 2004 between Baidu Online and Baidu
    Netcom and the supplementary agreement dated as of
    August&#160;9, 2004
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .51*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the supplementary agreement dated April&#160;22,
    2010 to the Operating Agreement dated as of March&#160;22, 2005
    between Baidu Online and Baidu Netcom
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .52*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the supplementary agreement dated March&#160;1,
    2010 to the Domain Name License Agreement dated as of
    March&#160;1, 2004 between Baidu Online and Baidu Netcom and the
    supplementary agreement dated August&#160;9, 2004
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .53*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translations of the supplementary agreement dated April&#160;22,
    2010 to the Exclusive Equity Purchase Option Agreement dated as
    of March&#160;22, 2005 among Baidu Online, Robin Yanhong Li and
    Eric Yong Xu
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    4
</TD>
<TD nowrap align="left" valign="top">
    .54*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Translation of the Baidu
    <FONT style="white-space: nowrap">Pay-for-Performance</FONT>
    Distributors Management Agreement between Baidu Online and Baidu
    Netcom, dated as of December&#160;22, 2010
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    8
</TD>
<TD nowrap align="left" valign="top">
    .1*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    List of Subsidiaries and Consolidated Affiliated Entities
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    11
</TD>
<TD nowrap align="left" valign="top">
    .1
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Code of Business Conduct and Ethics (incorporated by reference
    to Exhibit&#160;99.14 of our Registration Statement on
    <FONT style="white-space: nowrap">Form&#160;F-1</FONT>
    (file
    <FONT style="white-space: nowrap">no.&#160;333-126534)</FONT>
    filed with the Securities and Exchange Commission on
    July&#160;12, 2005)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    12
</TD>
<TD nowrap align="left" valign="top">
    .1*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Certification by Principal Executive Officer Pursuant to
    Section&#160;302 of the Sarbanes-Oxley Act of 2002
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    12
</TD>
<TD nowrap align="left" valign="top">
    .2*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Certification by Principal Financial Officer Pursuant to
    Section&#160;302 of the Sarbanes-Oxley Act of 2002
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    13
</TD>
<TD nowrap align="left" valign="top">
    .1**
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Certification by Principal Executive Officer Pursuant to
    Section&#160;906 of the Sarbanes-Oxley Act of 2002
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    13
</TD>
<TD nowrap align="left" valign="top">
    .2**
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Certification by Principal Financial Officer Pursuant to
    Section&#160;906 of the Sarbanes-Oxley Act of 2002
</TD>
</TR>
</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    108
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=01 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=01 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=01 type=align1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="86%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Exhibit<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Number</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Description of Document</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    15
</TD>
<TD nowrap align="left" valign="top">
    .1*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Maples and Calder
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    15
</TD>
<TD nowrap align="left" valign="top">
    .2*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Han Kun Law Offices
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    15
</TD>
<TD nowrap align="left" valign="top">
    .3*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consent of Ernst&#160;&#038; Young Hua Ming
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    101
</TD>
<TD nowrap align="left" valign="top">
    .INS***
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    XBRL Instance Document
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    101
</TD>
<TD nowrap align="left" valign="top">
    .SCH***
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    XBRL Taxonomy Extension Schema Document
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    101
</TD>
<TD nowrap align="left" valign="top">
    .CAL***
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    XBRL Taxonomy Extension Calculation Linkbase Document
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    101
</TD>
<TD nowrap align="left" valign="top">
    .DEF***
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    XBRL Taxonomy Extension Definition Linkbase Document
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    101
</TD>
<TD nowrap align="left" valign="top">
    .LAB***
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    XBRL Taxonomy Extension Label Linkbase Document
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="right" valign="top">
&nbsp;
</TD>
<TD nowrap align="right" valign="top">
    101
</TD>
<TD nowrap align="left" valign="top">
    .PRE***
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    XBRL Taxonomy Extension Presentation Linkbase Document
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    *&#160;</TD>
    <TD></TD>
    <TD valign="bottom">
    Filed herewith</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    ** </TD>
    <TD></TD>
    <TD valign="bottom">
    Furnished herewith</TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    *** </TD>
    <TD></TD>
    <TD valign="bottom">
    XBRL (Extensible Business Reporting Language) information is
    furnished and not filed or a part of a registration statement or
    prospectus for purposes of Sections&#160;11 or 12 of the
    Securities Act of 1933, is deemed not filed for purposes of
    Section&#160;18 of the Securities Exchange Act of 1934, and
    otherwise is not subject to liability under these sections.</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    109
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='H04360132'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SIGNATURES</FONT></B>
</DIV>
</A>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The registrant hereby certifies that it meets all of the
    requirements for filing its annual report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    and that it has duly caused and authorized the undersigned to
    sign this annual report on its behalf.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu, Inc.
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="49%"></TD>
    <TD width="4%"></TD>
    <TD width="47%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Robin
    Yanhong Li</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 53%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 53%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;&#160;&#160;&#160;&#160;Robin Yanhong Li
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="53%"></TD>
    <TD width="8%"></TD>
    <TD width="39%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    Title:&#160;
</TD>
    <TD align="left">
    Chairman and Chief Executive Officer
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Date: March&#160;29, 2011
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    110
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">INDEX TO
    CONSOLIDATED FINANCIAL STATEMENTS</FONT></B>
</DIV>
<DIV align="left">
<!-- TOC -->
</DIV>

<DIV align="left">
<A name="H04360tocpage"></A>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="97%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Page(s)</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#H04360300'>Reports of Independent Registered Public
    Accounting Firm</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    F-2
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#H04360301'>Consolidated Balance Sheets as of
    December&#160;31, 2009 and 2010</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    F-4
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#H04360302'>Consolidated Statements of Income for the Years
    Ended December&#160;31, 2008, 2009 and 2010</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    F-5
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#H04360303'>Consolidated Statements of Cash Flows for the
    Years Ended December&#160;31, 2008, 2009 and 2010</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    F-6
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#H04360304'>Consolidated Statements of Shareholders&#146;
    Equity for the Years Ended December&#160;31, 2008, 2009 and
    2010</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    F-7
</TD>
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <A HREF='#H04360305'>Notes to the Consolidated Financial Statements</A>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    F-8
</TD>
<TD>&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left">
<!-- /TOC -->
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-1
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<A name='H04360300'>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">REPORT OF
    INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</FONT></B>
</DIV>
</A>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Board of Directors and Shareholders
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu, Inc.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have audited the accompanying consolidated balance sheets of
    Baidu, Inc. (the &#147;Company&#148;) as of December&#160;31,
    2010 and 2009, and the related consolidated statements of
    income, shareholders&#146; equity, and cash flows for each of
    the three years in the period ended December&#160;31, 2010.
    These financial statements are the responsibility of the
    Company&#146;s management. Our responsibility is to express an
    opinion on these financial statements based on our audits.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We conducted our audits in accordance with the standards of the
    Public Company Accounting Oversight Board (United States). Those
    standards require that we plan and perform the audit to obtain
    reasonable assurance about whether the financial statements are
    free of material misstatement. An audit includes examining, on a
    test basis, evidence supporting the amounts and disclosures in
    the financial statements. An audit also includes assessing the
    accounting principles used and significant estimates made by
    management, as well as evaluating the overall financial
    statement presentation. We believe that our audits provide a
    reasonable basis for our opinion.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In our opinion, the financial statements referred to above
    present fairly, in all material respects, the consolidated
    financial position of Baidu, Inc. as of December&#160;31, 2010
    and 2009, and the consolidated results of its operations and its
    cash flows for each of the three years in the period ended
    December&#160;31, 2010, in conformity with U.S.&#160;generally
    accepted accounting principles.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We also have audited, in accordance with the standards of the
    Public Company Accounting Oversight Board (United States),
    Baidu, Inc.&#146;s internal control over financial reporting as
    of December&#160;31, 2010, based on criteria established in
    Internal Control-Integrated Framework issued by the Committee of
    Sponsoring Organizations of the Treadway Commission and our
    report dated March&#160;29, 2011 expressed an unqualified
    opinion thereon.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Beijing, The People&#146;s Republic of China
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    March&#160;29, 2011
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">REPORT OF
    INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Board of Directors and Shareholders
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu, Inc.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We have audited Baidu, Inc.&#146;s internal control over
    financial reporting as of December&#160;31, 2010, based on
    criteria established in Internal Control-Integrated Framework
    issued by the Committee of Sponsoring Organizations of the
    Treadway Commission (the COSO criteria). Baidu, Inc.&#146;s
    management is responsible for maintaining effective internal
    control over financial reporting and for its assessment of the
    effectiveness of internal control over financial reporting
    included in the accompanying Management&#146;s Report on
    Internal Control over Financial Reporting. Our responsibility is
    to express an opinion on the company&#146;s internal control
    over financial reporting based on our audit.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We conducted our audit in accordance with the standards of the
    Public Company Accounting Oversight Board (United States). Those
    standards require that we plan and perform the audit to obtain
    reasonable assurance about whether effective internal control
    over financial reporting was maintained in all material
    respects. Our audit included obtaining an understanding of
    internal control over financial reporting, assessing the risk
    that a material weakness exists, testing and evaluating the
    design and operating effectiveness of internal control based on
    the assessed risk, and performing such other procedures as we
    considered necessary in the circumstances. We believe that our
    audit provides a reasonable basis for our opinion.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A company&#146;s internal control over financial reporting is a
    process designed to provide reasonable assurance regarding the
    reliability of financial reporting and the preparation of
    financial statements for external purposes in accordance with
    generally accepted accounting principles. A company&#146;s
    internal control over financial reporting includes those
    policies and procedures that (1)&#160;pertain to the maintenance
    of records that, in reasonable detail, accurately and fairly
    reflect the transactions and dispositions of the assets of the
    company; (2)&#160;provide reasonable assurance that transactions
    are recorded as necessary to permit preparation of financial
    statements in accordance with generally accepted accounting
    principles, and that receipts and expenditures of the company
    are being made only in accordance with authorizations of
    management and directors of the company; and (3)&#160;provide
    reasonable assurance regarding prevention or timely detection of
    unauthorized acquisition, use or disposition of the
    company&#146;s assets that could have a material effect on the
    financial statements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Because of its inherent limitations, internal control over
    financial reporting may not prevent or detect misstatements.
    Also, projections of any evaluation of effectiveness to future
    periods are subject to the risk that controls may become
    inadequate because of changes in conditions, or that the degree
    of compliance with the policies or procedures may deteriorate.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In our opinion, Baidu, Inc. maintained, in all material
    respects, effective internal control over financial reporting as
    of December&#160;31, 2010, based on the COSO criteria.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We also have audited, in accordance with the standards of the
    Public Company Accounting Oversight Board (United States), the
    accompanying consolidated balance sheets of Baidu, Inc. as of
    December&#160;31, 2010 and 2009, and the related consolidated
    statements of income, shareholders&#146; equity, and cash flows
    for each of the three years in the period ended
    December&#160;31, 2010 of Baidu, Inc., and our report dated
    March&#160;29, 2011, expressed an unqualified opinion thereon.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Beijing, The People&#146;s Republic of China
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    March&#160;29, 2011
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-3
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">


    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    <BR>
    <!-- XBRL,bs --><A name='H04360301'>CONSOLIDATED BALANCE SHEETS<BR>
    <!-- XBRL,body -->(Amounts in thousands of Renminbi
    (&#147;RMB&#148;), and in thousands of U.S. Dollars
    (&#147;US$&#148;), except<BR>
    for number of shares and per share data)</FONT></B>
</DIV>
</A>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 9pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="63%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Notes</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD colspan="17" align="center" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>ASSETS</B>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Current assets:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Cash and cash equivalents
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,180,376
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,781,976
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,179,087
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Restricted cash
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,513
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38,278
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,800
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Short-term investments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    381,149
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    376,492
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    57,044
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Accounts receivable, net of allowance of RMB9,015 for 2009 and
    RMB2,223 (US$337) for 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    161,610
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    296,900
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44,985
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Other assets, current
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    91,067
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    103,654
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,706
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Due from related parties
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    98,660
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,948
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Deferred tax assets, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,157
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    86,487
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,104
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Total current assets</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>4,842,872</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>8,782,447</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,330,674</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Non-current assets:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Fixed assets, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    997,557
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,622,412
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    245,820
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Intangible assets, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    122,595
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    115,798
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,545
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Goodwill
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    63,691
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    63,686
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,649
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Long-term investments, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,308
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    287,968
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    43,632
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Deferred tax assets, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    33,799
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30,843
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,673
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Other assets, non-current
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    82,153
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    145,285
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22,013
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Total non-current assets</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,314,103</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>2,265,992</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>343,332</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>TOTAL ASSETS</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>6,156,975</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>11,048,439</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,674,006</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD colspan="17">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD colspan="17" align="center" valign="bottom">
    <B>LIABILITIES AND SHAREHOLDERS&#146; EQUITY</B>
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Current liabilities:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Accounts payable and accrued liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    749,861
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,317,771
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    199,662
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Customer advances and deposits
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    607,828
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,029,344
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    155,961
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Deferred revenue
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42,035
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    109,032
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,520
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Due to related parties
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    95,700
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Total current liabilities</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,399,724</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>2,551,847</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>386,643</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Non-current liabilities:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Long-term payable for business acquisition
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,150
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Deferred income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    758
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Loans payable, noncurrent
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    86,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,030
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Total non-current liabilities</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>4,150</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>91,000</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>13,788</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Total liabilities</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,403,874</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>2,642,847</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>400,431</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Commitments and contingencies</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Shareholders&#146; equity</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Class&#160;A Ordinary Shares, par value US$0.00005 per share,
    825,000,000&#160;shares authorized, and 26,298,960&#160;shares
    and 27,045,340&#160;shares issued and outstanding as at
    December&#160;31, 2009 and 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Class&#160;B Ordinary Shares, par value US$0.00005 per share,
    35,400,000&#160;shares authorized, and 8,454,332&#160;shares and
    7,804,332&#160;shares issued and outstanding as at
    December&#160;31, 2009 and 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Additional paid-in capital
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,426,070
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,557,258
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    235,948
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Accumulated other comprehensive loss
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (113,513
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (117,378
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (17,784
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 19pt">
    Retained earnings
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,440,529
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,965,697
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,055,409
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>Total shareholders&#146; equity</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>4,753,101</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>8,405,592</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,273,575</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 9pt">
    <B>TOTAL LIABILITIES AND SHAREHOLDERS&#146; EQUITY</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>6,156,975</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>11,048,439</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,674,006</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The accompanying notes are an integral part of the consolidated
    financial statements.
</DIV>
<!-- /XBRL,bs -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-4
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">


    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    <BR>
    <!-- XBRL,in --><A name='H04360302'>CONSOLIDATED STATEMENTS OF
    INCOME<BR>
    <!-- XBRL,body -->(Amounts in thousands of Renminbi
    (&#147;RMB&#148;), and in thousands of U.S. Dollars
    (&#147;US$&#148;), except for<BR>
    number of shares and per share (or ADS) data)</FONT></B>
</DIV>
</A>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Years Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Notes</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Revenues:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Online marketing services
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,194,461
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,445,310
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,912,869
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,198,920
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Other services
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,791
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,466
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,205
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    334
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Total revenues</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>3,198,252</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>4,447,776</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>7,915,074</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,199,254</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Operating costs and expenses:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Cost of revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,155,457
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,616,236
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,149,288
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (325,650
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Selling, general and administrative
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (659,804
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (803,988
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,088,980
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (164,997
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Research and development
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (286,256
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (422,615
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (718,038
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (108,794
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Total operating costs and expenses</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(2,101,517</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(2,842,839</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(3,956,306</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(599,441</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Operating profit</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,096,735</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,604,937</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>3,958,768</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>599,813</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other income:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Interest income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    47,677
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,661
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    67,121
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,170
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Foreign exchange (loss) gain, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,920
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (42
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Loss from equity method investments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (229
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (8,965
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,359
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Other income, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    21,687
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45,794
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44,233
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,702
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Total other income</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>67,444</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>78,184</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>102,395</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>15,514</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Income before income taxes</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,164,179</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,683,121</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>4,061,163</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>615,327</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Income taxes
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (116,071
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (198,017
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (535,995
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (81,211
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Net income</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,048,108</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,485,104</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>3,525,168</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>534,116</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Earnings per share for Class&#160;A and Class&#160;B ordinary
    shares:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30.63
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42.96
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    101.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.35
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.96
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Earnings per ADS (1 Class&#160;A ordinary share equals 10 ADSs):
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.06
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.13
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.53
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.02
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.27
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.53
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Weighted average number of Class&#160;A and Class&#160;B
    ordinary shares outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,217,443
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,570,790
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,805,362
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,805,362
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,717,489
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,776,366
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,917,835
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,917,835
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The accompanying notes are an integral part of the consolidated
    financial statements.
</DIV>
<!-- /XBRL,in -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-5
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">


    <B><FONT style="font-family: 'Times New Roman', Times"><!-- XBRL,cf --><A name='H04360303'>CONSOLIDATED
    STATEMENTS OF CASH FLOWS<BR>
    </FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times"><!-- XBRL,body -->(Amounts
    in thousands of Renminbi (&#147;RMB&#148;), and in thousands of
    U.S. Dollars)</FONT></B></A>
</DIV>
</A>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="65%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Years Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Cash flows from operating activities:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,048,108
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,485,104
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,525,168
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    534,116
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Adjustments to reconcile net income to net cash generated from
    operating activities:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Depreciation of fixed assets and others
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    268,593
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    306,281
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    431,099
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    65,318
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Fixed assets written off
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,675
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,606
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,679
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Amortization of intangible assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,121
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,729
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,252
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,553
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Deferred tax assets, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (13,814
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (10,839
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (74,374
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (11,269
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Share-based compensation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    83,977
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    86,318
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    93,736
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,202
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Provision (reversal) for doubtful accounts
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,980
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    493
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6,940
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,052
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Foreign exchange loss
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,157
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Gain on investments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,739
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (8,181
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (41,193
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6,241
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Impairment on long-term investments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,986
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Loss from equity method investments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    229
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,965
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,359
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Changes in operating assets and liabilities net of effects of
    acquisition:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Restricted cash
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,562
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (14,951
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (18,765
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,843
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Accounts receivable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (33,282
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (69,331
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (128,307
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (19,440
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Other assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (27,349
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,752
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (28,560
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (4,327
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Due from related parties
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (10,697
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,697
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (98,660
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (14,949
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Customer advances and deposits
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    164,949
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    185,302
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    421,516
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    63,866
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Accounts payable and accrued liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    130,230
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    236,012
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    431,168
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    65,329
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Deferred revenue
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (13,876
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38,595
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    66,997
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,151
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Deferred income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,485
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (332
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    758
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Due to related parties
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    95,700
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Trading securities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    129,665
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net cash generated from operating activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>1,741,637</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>2,264,484</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>4,700,481</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>712,194</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Cash flows from investing activities:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Acquisition of fixed assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (417,898
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (399,312
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (895,309
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (135,653
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Acquisition of business
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (12,000
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Acquisition of intangible assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,452
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (372
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Capitalization of software costs
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (17,668
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (11,392
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (10,179
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,542
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Purchases of long-term investments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,250
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (282,932
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (42,868
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Purchases of short-term investments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (764,720
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (779,676
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,620,265
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (397,010
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Sales and maturities of short-term investments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    580,430
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    707,929
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,661,794
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    403,302
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Acquisition of long-term prepaid computer parts
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (41,246
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (39,368
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (68,179
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (10,330
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net cash used in investing activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(661,102</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(536,069</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(1,217,522</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(184,473</B>
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Cash flows from financing activities:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Proceeds from loans payable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    86,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,030
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Proceeds from exercise of share options
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    32,902
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    40,442
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38,751
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,872
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Structured share repurchase, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (68,539
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    79,070
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 25pt">
    Repurchase of ordinary shares
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (24,419
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net cash (used in) generated from financing activities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>(35,637</B>
</TD>
<TD nowrap align="left" valign="bottom">
    <B>)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>95,093</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>124,751</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    <B>18,902</B>
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Effect of exchange rate changes on cash and cash equivalents
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (37,889
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (741
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6,110
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (926
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Net increase in cash and cash equivalents
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,007,009
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,822,767
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,601,600
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    545,697
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Cash and cash equivalents at beginning of the year
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,350,600
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,357,609
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,180,376
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    633,390
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Cash and cash equivalents at end of the year
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,357,609
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,180,376
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,781,976
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,179,087
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Supplemental disclosures:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Income taxes paid, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    145,830
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    150,170
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    436,632
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    66,156
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Fixed asset acquisitions included in accounts payable and
    accrued liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,650
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    139,038
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    248,540
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,658
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Other non-current assets acquisitions included in accounts
    payable and accrued liabilities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,764
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,176
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    29,130
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,414
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -9pt; margin-left: 17pt">
    Non-cash acquisitions of investments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,486
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,982
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    603
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,cf -->
<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The accompanying notes are an integral part of the consolidated
    financial statements.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">


    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    <BR>
    <!-- XBRL,se --><A name='H04360304'>CONSOLIDATED STATEMENTS OF
    SHAREHOLDERS&#146; EQUITY<BR>
    <!-- XBRL,body -->(Amounts in thousands of Renminbi
    (&#147;RMB&#148;), and in thousands of U.S. Dollars
    (&#147;US$&#148;),<BR>
    except for number of shares)</FONT></B>
</DIV>
</A>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="38%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Accumulated<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Ordinary Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Additional<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Other<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Total<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Number of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Paid-in<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Comprehensive<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Retained<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Shareholders&#146;<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Capital</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Loss</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Earnings</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Equity</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balances at December&#160;31, 2007
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,132,989
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,171,575
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (81,953
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    931,736
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,021,372
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Comprehensive income:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Foreign currency translation adjustment
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (27,599
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (27,599
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,048,108
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,048,108
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total comprehensive income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,020,509
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Exercise of share-based awards
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    382,844
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28,637
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    28,638
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Share-based compensation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    86,683
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    86,683
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Structured share repurchase
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (68,539
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (68,539
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balances at December&#160;31, 2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,515,833
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,218,356
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (109,552
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,979,844
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,088,663
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Comprehensive income:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Foreign currency translation adjustment
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,961
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,961
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,485,104
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,485,104
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total comprehensive income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,481,143
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Exercise of share-based awards
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    270,199
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41,121
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41,121
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Share-based compensation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    87,523
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    87,523
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Structured share repurchase
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    79,070
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    79,070
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Repurchase of ordinary shares
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (32,740
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (24,419
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (24,419
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balances at December&#160;31, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,753,292
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,426,070
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (113,513
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,440,529
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,753,101
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Comprehensive income:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Foreign currency translation adjustment
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    254
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,865
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,611
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,525,168
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,525,168
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Total comprehensive income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,521,557
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Exercise of share-based awards
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    96,380
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    36,819
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    36,819
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Share-based compensation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    94,115
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    94,115
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balances at December&#160;31, 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,849,672
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,557,258
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (117,378
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,965,697
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,405,592
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balances at December&#160;31, 2010, in US$
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    235,948
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (17,784
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,055,409
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,273,575
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
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&nbsp;
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&nbsp;
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&nbsp;
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&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
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<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The accompanying notes are an integral part of the consolidated
    financial statements.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-7
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">


    <A name='H04360305'><B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL STATEMENTS<BR>
    </FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    </A><B><FONT style="font-family: 'Times New Roman', Times">FOR
    THE YEARS ENDED DECEMBER 31, 2008, 2009 AND 2010</FONT></B>
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">1.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">ORGANIZATION,
    CONSOLIDATION AND PRESENTATION OF FINANCIAL STATEMENTS</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu, Inc. (&#147;Baidu&#148; or the &#147;Company&#148;) was
    incorporated under the laws of the Cayman Islands on
    January&#160;18, 2000. The Company was formerly known as
    Baidu.com, Inc. and changed its name to Baidu, Inc. on
    December&#160;16, 2008. The Company is the sole shareholder of
    Baidu Holdings Ltd. (&#147;Baidu Holdings&#148;) incorporated in
    the British Virgin Islands.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of December&#160;31, 2010, Baidu Holdings owns the following
    subsidiaries:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Baidu Online Network Technology (Beijing) Co., Ltd. (&#147;Baidu
    Online&#148;) incorporated under the laws of the People&#146;s
    Republic of China (&#147;PRC&#148;) on January&#160;18, 2000,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Baidu Japan Inc. (&#147;Baidu Japan&#148;) incorporated under
    the laws of Japan on December&#160;13, 2006,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Baidu (Hong Kong) Limited (&#147;Baidu HK&#148;) incorporated
    under the laws of Hong Kong on November&#160;27, 2007,&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Baidu International Technology (Shenzhen) Co., Ltd. (&#147;Baidu
    International&#148;) incorporated under the laws of the PRC on
    November&#160;23, 2010.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu HK owns the following subsidiaries in the PRC:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Baidu (China) Co., Ltd. (&#147;Baidu China&#148;) incorporated
    under the laws of the PRC on June&#160;6, 2005,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Baidu.com Times Technology (Beijing) Co., Ltd. (&#147;Baidu
    Times&#148;) incorporated under the laws of the PRC on
    April&#160;19, 2006,&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Baidu Interaction (Shenzhen) Network Technology Co., Ltd.
    (&#147;Baidu Interaction&#148;), which obtained its business
    license in March 2009, was incorporated under the laws of the
    PRC. Baidu Interaction is in the process of being dissolved, but
    is not presented as a discontinued operation since the entity
    has not started operating since its inception.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu Japan has established the following wholly-owned
    subsidiaries in Japan and the USA:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Hyakudo Inc. (&#147;Hyakudo&#148;) incorporated under the laws
    of Japan on April&#160;14, 2008,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Baido, Inc. (&#147;Baido&#148;) incorporated under the laws of
    Japan on April&#160;14, 2008,&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Baidu USA LLC incorporated under the laws of the USA on
    November&#160;12, 2010.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of December&#160;31, 2010, the Company also effectively
    controls the following variable interest entities
    (&#147;VIEs&#148;):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Beijing Baidu Netcom Science Technology Co., Ltd. (&#147;Baidu
    Netcom&#148;) incorporated under the laws of the PRC on
    June&#160;5, 2001,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Beijing Perusal Technology Co., Ltd. (&#147;Beijing
    Perusal&#148;) incorporated under the laws of the PRC on
    June&#160;6, 2006,
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Beijing BaiduPay Science and Technology Co., Ltd.
    (&#147;BaiduPay&#148;) incorporated under the laws of the PRC on
    February&#160;27, 2008,&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    Baidu HR Consulting (Shanghai) Co., Ltd. (&#147;Baidu HR&#148;)
    incorporated under the laws of the PRC on December&#160;28, 2010.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company, its subsidiaries and VIEs are hereinafter
    collectively referred to as the &#147;Group.&#148; The Group
    offers Internet search solutions and online marketing solutions,
    operates an
    <FONT style="white-space: nowrap">e-commerce</FONT>
    platform with an online payment tool which enables
    <FONT style="white-space: nowrap">e-commerce</FONT>
    merchants and customers to make payments online, develops and
    markets
</DIV>
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<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-8
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    scalable web application software and provides related services,
    as well as provides human resource related services including
    employment agency services. The Group&#146;s principal
    geographic market is in the PRC and Japan. The Company does not
    conduct any substantive operations of its own but conducts its
    primary business operations through its wholly-owned
    subsidiaries and VIEs in the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    PRC laws and regulations prohibit or restrict foreign ownership
    of Internet content and advertising businesses. To comply with
    these foreign ownership restrictions, the Group operates its
    websites and primarily provides online advertising services in
    the PRC through VIEs, the PRC legal entities that were
    established by the individuals authorized by the Group. The
    paid-in capital of the VIEs was funded by the Group through
    loans extended to the authorized individuals. The Group has
    entered into certain exclusive agreements with the VIEs through
    Baidu Online, which obligate Baidu Online to absorb a majority
    of the risk of loss from the VIEs&#146; activities and entitles
    Baidu Online to receive a majority of their residual returns. In
    addition, the Group has entered into certain agreements with the
    authorized individuals through Baidu Online, including loan
    agreements for the paid-in capital of the VIEs, option
    agreements to acquire the equity interests in the VIEs when
    permitted by the PRC laws, and share pledge agreements for the
    equity interests in the VIEs held by the authorized individuals.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Despite the lack of technical majority ownership, there exists a
    parent-subsidiary relationship between the Company and VIEs
    through certain agreements with the authorized individuals
    through Baidu Online, including loan agreements for the paid-in
    capital of the VIEs, option agreements to acquire the equity
    interests in the VIEs when permitted by the PRC laws, and share
    pledge agreements for the equity interests in the VIEs held by
    the authorized individuals. The equity holders of VIEs
    effectively assigned all of their voting rights underlying their
    equity interest in VIEs to Baidu Online. In addition, through
    the other aforementioned agreements, the Company demonstrates
    its ability and intention to continue to exercise the ability to
    absorb substantially all of the profits and all of the expected
    losses of VIEs. The VIEs are subject to operating risks, which
    determine the variability of the Company&#146;s interest in
    those entities. Based on these contractual arrangements, the
    Company consolidates the VIEs as required by Accounting
    Standards Codification (&#147;ASC&#148;) subtopic
    <FONT style="white-space: nowrap">810-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">810-10&#148;),</FONT>
    <I>Consolidation: Overall</I>, because the Company holds all the
    variable interests of VIEs through Baidu Online, which is the
    primary beneficiary of the VIEs.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The carrying amount of the total assets of VIEs was
    RMB1.19&#160;billion (US$180.92&#160;million) as of
    December&#160;31, 2010 and there was no pledge or
    collateralization of their assets. The amount of the net assets
    of VIEs, which are restricted under PRC laws and regulations
    (Note&#160;13), was RMB341.10&#160;million
    (US$51.68&#160;million) as of December&#160;31, 2010.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Basis
    of Accounting</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The consolidated financial statements have been prepared in
    accordance with United States generally accepted accounting
    principles (&#147;U.S.&#160;GAAP&#148;).
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Principles
    of Consolidation</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Consolidation Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The consolidated financial statements include the financial
    statements of the Company, its subsidiaries and VIEs in which
    the Company holds all the variable interests of VIEs through
    Baidu Online. All inter-company transactions and balances
    between the Company, its subsidiaries and VIEs are eliminated
    upon consolidation. The Company has included the results of
    operations of acquired businesses from the respective dates of
    acquisition.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Use of
    Estimates</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Use Of Estimates Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The preparation of financial statements in conformity with
    accounting principles generally accepted in the United States
    requires management to make estimates and assumptions that
    affect the reported amounts of assets and liabilities and
    disclosures of contingent assets and liabilities at the date of
    the financial statements and the reported amounts of revenues
    and expenses during the period. Management evaluates estimates,
    including those
</DIV>
<!-- XBRL Paragraph Pagebreak -->
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-9
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    related to the accounts receivable allowances, fair values of
    options to purchase the Company&#146;s ordinary shares, fair
    values of certain equity investments, and deferred tax valuation
    allowance, among others. Management bases the estimates on
    historical experience and on various other assumptions that are
    believed to be reasonable, the results of which form the basis
    for making judgments about the carrying values of assets and
    liabilities. Actual results could differ from these estimates.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Comparative
    Information</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Certain items in prior years&#146; consolidated financial
    statements have been reclassified to conform to the current
    year&#146;s presentation in accordance with the requirement
    under eXtensible Business Reporting Language (&#147;XBRL&#148;)
    to facilitate comparison.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Currency
    Translation for Financial Statements Presentation</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Translations of amounts from RMB into US$ for the convenience of
    the reader have been calculated at the exchange rate of
    RMB6.6000 per US$1.00 on December&#160;30, 2010 as published on
    the website of the Federal Reserve Board. No representation is
    made that the RMB amounts could have been, or could be,
    converted into U.S.&#160;dollars at such rate.
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">2.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">SUMMARY
    OF SIGNIFICANT ACCOUNTING POLICIES</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Foreign
    Currency</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Foreign Currency Transactions And Translations Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company&#146;s functional currency is the US$. The
    Company&#146;s subsidiaries and VIEs determine their functional
    currencies based on the criteria of ASC subtopic
    <FONT style="white-space: nowrap">830-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">830-10&#148;),</FONT>
    <I>Foreign Currency Matters: Overall</I>, and have determined
    their functional currencies to be their respective local
    currency. The Company uses the RMB as its reporting currency.
    The Company uses the average exchange rate for the year and the
    exchange rate at the balance sheet date to translate its
    operating results and financial position, respectively. Any
    translation gains (losses) are recorded in accumulated other
    comprehensive income (loss) as a component of shareholders&#146;
    equity. Transactions denominated in foreign currencies are
    translated into the functional currency at the exchange rates
    prevailing on the transaction dates. Assets and liabilities
    denominated in foreign currencies are translated into the
    functional currency at the exchange rates prevailing at the
    balance sheet date. Exchange gains and losses are included in
    the consolidated statements of income as a component of other
    income.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Cash
    and Cash Equivalents</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Cash And Cash Equivalents Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Cash
    and Cash Equivalents</FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Cash and cash equivalents are stated at cost, which approximates
    fair value, and primarily consist of cash and investments in
    interest bearing demand deposit accounts, time deposits, highly
    liquid investments and money market funds. All highly liquid
    investments with original maturities of three months or less
    from the date of purchase are classified as cash equivalents.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Restricted
    Cash</FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Restricted cash consists of the cash balances deposited by the
    customers of the Company&#146;s
    <FONT style="white-space: nowrap">e-commerce</FONT>
    platform.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In 2008, the Company introduced an
    <FONT style="white-space: nowrap">e-commerce</FONT>
    platform and an online payment platform which enables
    <FONT style="white-space: nowrap">e-commerce</FONT>
    merchants and customers to send and receive payments online.
    Cash balances deposited by the customers of the Company&#146;s
    <FONT style="white-space: nowrap">e-commerce</FONT>
    platform are considered restricted because they cannot be used
    for the operations of the Group or any other purpose not
    designated by customers. When customers fund their accounts in
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-10
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    the
    <FONT style="white-space: nowrap">e-commerce</FONT>
    platform using their bank accounts, the deposited balance is
    included in the Company&#146;s bank account until customers
    either use the cash to settle their online transactions or
    withdraw the cash.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Investments</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Investment Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Short-Term
    Investments</FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    All highly liquid investments with original maturities of
    greater than three months, but less than 12&#160;months, are
    classified as short-term investments which are stated at their
    approximate fair value. The Company accounts for short-term
    investments in accordance with ASC subtopic
    <FONT style="white-space: nowrap">320-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">320-10&#148;),</FONT>
    <I>Investments&#160;&#151; Debt and Equity Securities: Overall.
    </I>The Company classifies the short-term investments in debt
    and equity securities as
    <FONT style="white-space: nowrap">&#147;held-to-maturity&#148;,</FONT>
    &#147;trading&#148; or
    <FONT style="white-space: nowrap">&#147;available-for-sale&#148;,</FONT>
    whose classification determines the respective accounting
    methods stipulated by
    <FONT style="white-space: nowrap">ASC&#160;320-10.</FONT>
    Dividend and interest income, including amortization of the
    premium and discount arising at acquisition, for all categories
    of investments in securities are included in earnings. Any
    realized gains or losses on the sale of the short-term
    investments are determined on a specific identification method,
    and such gains and losses are reflected in the consolidated
    statements of income.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The securities that the Company has positive intent and ability
    to hold to maturity are classified as
    <FONT style="white-space: nowrap">held-to-maturity</FONT>
    securities and stated at amortized cost. For individual
    securities classified as
    <FONT style="white-space: nowrap">held-to-maturity</FONT>
    securities, the Company evaluates whether a decline in fair
    value below the amortized cost basis is other than temporary in
    accordance with the Company&#146;s policy and
    <FONT style="white-space: nowrap">ASC&#160;320-10.</FONT>
    If the Company concludes that it does not intend or is not
    required to sell an impaired debt security before the recovery
    of its amortized cost basis, the impairment is considered
    temporary and the
    <FONT style="white-space: nowrap">held-to-maturity</FONT>
    securities continue to be recognized at the amortized costs.
    When the Company intends to sell an impaired debt security or it
    is more likely than not that it will be required to sell prior
    to recovery of its amortized cost basis, an
    <FONT style="white-space: nowrap">other-than-temporary</FONT>
    impairment is deemed to have occurred. In these instances, the
    <FONT style="white-space: nowrap">other-than-temporary</FONT>
    impairment loss is recognized in the consolidated statements of
    income equal to the entire excess of the debt security&#146;s
    amortized cost basis over its fair value at the balance sheet
    date of the reporting period for which the assessment is made.
    When the Company does not intend to sell an impaired debt
    security and it is more likely than not that it will not be
    required to sell prior to recovery of its amortized cost basis,
    the Company must determine whether or not it will recover its
    amortized cost basis. If the Company concludes that it will not,
    an
    <FONT style="white-space: nowrap">other-than-temporary</FONT>
    impairment exists and that portion of the credit loss is
    recognized in the consolidated statements of income, while the
    portion of loss related to all other factors is recognized in
    other comprehensive income.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The securities that are bought and held principally for the
    purpose of selling them in the near term are classified as
    trading securities. Unrealized holding gains and losses for
    trading securities are included in earnings.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Investments not classified as trading or as
    <FONT style="white-space: nowrap">held-to-maturity</FONT>
    are classified as
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    securities.
    <FONT style="white-space: nowrap">Available-for-sale</FONT>
    investment is reported at fair value, with unrealized gains and
    losses recorded in accumulated other comprehensive income in
    shareholders&#146; equity. Realized gains or losses are charged
    to earnings during the period in which the gain or loss is
    realized. An impairment loss on the
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    debt securities would be recognized in the consolidated
    statements of income when the decline in value is determined to
    be
    <FONT style="white-space: nowrap">other-than-temporary.</FONT>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Long-term
    Investments</FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company&#146;s long-term investments consist of cost method
    investments, equity method investments and
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    securities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In accordance with ASC subtopic
    <FONT style="white-space: nowrap">325-20</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">325-20&#148;),</FONT>
    <I>Investments-Other: Cost Method Investments</I>, for
    investments in an investee over which the Company does not have
    significant influence, the Company carries the investment at
    cost and only adjusts for
    <FONT style="white-space: nowrap">other-than-temporary</FONT>
    declines in fair value and distributions of earnings. The
</DIV>
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<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-11
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    management regularly evaluates the impairment of the cost method
    investments based on performance and financial position of the
    investee as well as other evidence of market value. Such
    evaluation includes, but is not limited to, reviewing the
    investee&#146;s cash position, recent financing, projected and
    historical financial performance, cash flow forecasts and
    financing needs. An impairment loss is recognized in the
    consolidated statements of income equal to the excess of the
    investment&#146;s cost over its fair value at the balance sheet
    date of the reporting period for which the assessment is made.
    The fair value would then become the new cost basis of
    investment.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Investments in entities in which the Company can exercise
    significant influence but does not own a majority equity
    interest or control are accounted for using the equity method of
    accounting in accordance with ASC subtopic
    <FONT style="white-space: nowrap">323-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">323-10&#148;),</FONT>
    <I>Investments-Equity Method and Joint Ventures: Overall</I>.
    Under the equity method, the Company initially records its
    investment at cost and adjusts the carrying amount of the
    investment to recognize the Company&#146;s proportionate share
    of each equity investee&#146;s net income or loss into
    consolidated statements of income after the date of acquisition.
    The difference between the cost of the equity investee and the
    amount of the underlying equity in the net assets of the equity
    investee is recognized as equity method goodwill included in
    equity method investment on the consolidated balance sheets. The
    Company evaluates the equity method investments for impairment
    under
    <FONT style="white-space: nowrap">ASC&#160;323-10.</FONT>
    An impairment loss on the equity method investments is
    recognized in the consolidated statements of income when the
    decline in value is determined to be
    <FONT style="white-space: nowrap">other-than-temporary.</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company&#146;s long-term investments in
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    securities are the investments which are neither classified as
    cost method investments nor equity method investments. In
    accordance with
    <FONT style="white-space: nowrap">ASC&#160;320-10,</FONT>
    <I>Investments&#160;&#151; Debt and Equity Securities: Overall,
    </I><FONT style="white-space: nowrap">available-for-sale</FONT>
    securities are reported at fair value, with unrealized gains and
    losses recorded in accumulated other comprehensive income in
    shareholders&#146; equity. Realized gains or losses are charged
    to earnings during the period in which the gain or loss is
    realized.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Fair
    Value Measurements of Financial Instruments</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Fair Value Measurement Inputs Disclosure" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Financial instruments include cash and cash equivalents,
    short-term investments, accounts receivable, accounts payable
    and accrued liabilities, customer advances and deposits,
    deferred revenue, deferred income and loans payable. The
    carrying amounts of these financial instruments except for loans
    payable approximate fair value because of their generally short
    maturities. The carrying amount of loans payable approximates
    its fair value due to the fact that the related interest rates
    are reset each year based on prevailing market interest rates.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Research,
    Development, and Computer Software</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Research Development And Computer Software Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Capitalization
    of Software Developed for Internal Use</FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company has capitalized certain internal use software
    development costs in accordance with ASC subtopic
    <FONT style="white-space: nowrap">350-40</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">350-40&#148;),</FONT>
    <I>Intangibles-Goodwill and Other: Internal-Use Software</I>,
    amounting to RMB19.49&#160;million, RMB12.59&#160;million and
    RMB10.38&#160;million (US$1.57&#160;million) for the years ended
    December&#160;31, 2008, 2009 and 2010, respectively. The Company
    capitalizes certain costs relating to software acquired,
    developed, or modified solely to meet the Company&#146;s
    internal requirements and for which there are no substantive
    plans to market the software. These costs mainly include payroll
    and payroll-related costs for employees who are directly
    associated with and who devote time to the internal-use software
    projects during the application development stage. Capitalized
    internal-use software costs are included in fixed assets, net.
    The amortization expense for capitalized software costs amounted
    to RMB3.44&#160;million, RMB9.77&#160;million and
    RMB8.86&#160;million (US$1.34&#160;million) for the years ended
    December&#160;31, 2008, 2009 and 2010, respectively. The
    unamortized amount of capitalized internal use software
    development costs was RMB26.16&#160;million and
    RMB15.28&#160;million (US$2.32&#160;million) as of
    December&#160;31, 2009 and 2010, respectively.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-12
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Research
    and Development Expenses</FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Research and development expenses consist primarily of
    personnel-related costs. The Company has expensed substantially
    all development costs included in the research and development
    of products and new functionality added to the existing products
    as incurred, except for certain internal-use software and
    certain core technologies with alternative future uses.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Fixed
    Assets</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Property Plant And Equipment Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Fixed assets are stated at cost less accumulated depreciation.
    Depreciation or amortization is recorded on a straight-line
    basis over the shorter of the estimated useful lives of the
    assets or the term of the related lease, as follows:
</DIV>
<!-- XBRL,dn,"Property Plant And Equipment Useful Life" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="66%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="32%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Office building
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    &#151; 45&#160;years
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Office building related facility, machinery and equipment
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    &#151; 15&#160;years
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Computer equipment
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    &#151; 3 or 5&#160;years
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Internal use software development costs
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    &#151; 3&#160;years
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Office equipment
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    &#151; 3 or 5&#160;years
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vehicles
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    &#151; 5&#160;years
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Leasehold improvements
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
<DIV style="text-indent: -13pt; margin-left: 13pt">
    &#151; over the shorter of lease terms or estimated useful lives
    of the assets
</DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Fixed assets have no estimated residual value except for the
    office building and its related facility, machinery and
    equipment, which have an estimated residual value of 4% of the
    cost.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Repair and maintenance costs are charged to expense as incurred,
    whereas the cost of renewals and betterments that extend the
    useful life of fixed assets are capitalized as additions to the
    related assets. Retirements, sales and disposals of assets are
    recorded by removing the cost and accumulated depreciation from
    the asset and accumulated depreciation accounts with any
    resulting gain or loss reflected in the consolidated statements
    of income.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    All direct and indirect costs that are related to the
    construction of fixed assets and incurred before the assets are
    ready for their intended use are capitalized as construction in
    progress. Construction in progress is transferred to specific
    fixed assets items and depreciation of these assets commences
    when they are ready for their intended use.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Goodwill
    and Intangible Assets</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Goodwill And Intangible Assets Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Goodwill
    </FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Goodwill represents the excess of the purchase price over the
    fair value of the identifiable net assets acquired in a business
    combination. The Company assesses goodwill for impairment in
    accordance with ASC subtopic
    <FONT style="white-space: nowrap">350-20</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">350-20&#148;),</FONT>
    <I>Intangibles&#160;&#151; Goodwill and Other: Goodwill</I>,
    which requires that goodwill be tested for impairment at the
    reporting unit level at least annually and more frequently upon
    the occurrence of certain events, as defined by
    <FONT style="white-space: nowrap">ASC&#160;350-20.</FONT>
    Baidu&#146;s chief operating decision maker only reviews the
    Company&#146;s discrete financials at its consolidated level and
    there are no segment managers who are held accountable by the
    Company&#146;s chief operating officer or anyone else, for
    operations, operating results, and planning for levels or
    components below the consolidated level. Accordingly, consistent
    with the management&#146;s operational perspective, the Company
    determines that it has only one reporting unit. Goodwill was
    tested for impairment in the annual impairment tests on December
    31 in each year using the two-step process required by
    <FONT style="white-space: nowrap">ASC&#160;350-20.</FONT>
    First, the Company reviewed the carrying amount of the reporting
    unit compared to the &#147;fair value&#148; of the reporting
    unit based on quoted market prices of the ordinary shares. If
    the fair value of the reporting unit exceeds the carrying value
    of the reporting unit, goodwill is not impaired and the Company
    is not required to perform further testing. If the carrying
    value of the
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-13
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    reporting unit exceeds the fair value of the reporting unit,
    then the Company must perform the second step of the impairment
    test in order to determine the implied fair value of the
    reporting unit&#146;s goodwill. That is, the Company would then
    prepare the discounted cash flow analyses. Such analyses are
    based on cash flow assumptions that are consistent with the
    plans and estimates being used to manage the business. An excess
    carrying value compared to fair value would indicate that
    goodwill may be impaired. Finally, if the Company determined
    that goodwill may be impaired, the implied fair value of the
    goodwill, as defined by
    <FONT style="white-space: nowrap">ASC&#160;350-20,</FONT>
    would be compared to its carrying amount to determine the
    impairment loss, if any. There has been no impairment of
    goodwill in any of the years presented.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Intangible
    Assets </FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Intangible assets with finite lives are carried at cost less
    accumulated amortization. The land use right is amortized using
    a straight-line method over the shorter of its estimated
    economic life or the term of related land use right contract.
    All other intangible assets with finite lives are amortized
    using the straight-line method over the estimated economic life.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Intangible assets have weighted average useful lives from the
    date of purchase as follows:
</DIV>
<!-- XBRL,dn,"Finite Lived Intangible Assets Weighted Average Useful Life" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="87%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="11%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Domain names
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    &#151; 5.0&#160;years
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Customer relationships
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    &#151; 4.9&#160;years
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Non-competition agreements
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    &#151; 3.9&#160;years
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Software
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    &#151; 5.9&#160;years
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Contract-based assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    &#151; 2.3&#160;years
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Trademark
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    &#151; 9.6&#160;years
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Land use right
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    &#151; 50&#160;years
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Intangible assets with an indefinite useful life are not
    amortized. There have been no impairment charges on the
    Company&#146;s intangible assets with finite useful lives in any
    of the years presented.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the intangible assets that are not being amortized are
    subsequently determined to have a finite useful life, the assets
    will be tested for impairment in accordance with ASC subtopic
    <FONT style="white-space: nowrap">350-30</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">350-30&#148;),</FONT>
    <I>Intangibles-Goodwill and Other: General Intangibles Other
    than Goodwill</I>, and then amortized prospectively over their
    estimated remaining useful lives and accounted for in the same
    manner as other intangible assets that are subject to
    amortization. Intangible assets with indefinite useful lives are
    tested for impairment annually or more frequently if events or
    changes in circumstances indicate that they might be impaired.
    There have been no impairment charges on the Company&#146;s
    intangible assets with indefinite useful lives in any of the
    years presented.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Impairment
    of Long-Lived Assets Other Than Goodwill</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Impairment Or Disposal Of Long Lived Assets Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company evaluates long-lived assets, such as fixed assets
    and purchased or internally developed intangible assets with
    finite lives, for impairment whenever events or changes in
    circumstances indicate the carrying value of an asset may not be
    recoverable in accordance with ASC subtopic
    <FONT style="white-space: nowrap">360-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">360-10&#148;),</FONT>
    <I>Property, Plant and Equipment: Overall</I>. When such events
    occur, the Company assesses the recoverability of the assets
    group based on the undiscounted future cash flow the assets
    group is expected to generate and recognizes an impairment loss
    when estimated undiscounted future cash flow expected to result
    from the use of the assets group plus net proceeds expected from
    disposition of the assets group, if any, is less than the
    carrying value of the assets group. If the Company identifies an
    impairment, the Company reduces the carrying amount of the
    assets group to its estimated fair value based on a discounted
    cash flow approach or, when available and appropriate, to
    comparable market values. The Company uses estimates and
    judgments in its impairment tests and if different estimates or
    judgments had been utilized, the timing or the amount of any
    impairment charges could be different. Asset groups to be
    disposed of would be reported at the lower of the carrying
    amount or fair value less costs to sell, and no longer
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-14
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    depreciated. The assets and liabilities of a disposal group
    classified as held for sale would be presented separately in the
    appropriate asset and liability sections of the balance sheet.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Accounts
    Receivable</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Receivables Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Accounts receivable are recognized and carried at original
    invoiced amount less an allowance for any potential
    uncollectible amounts. An estimate for doubtful debts is made
    when collection of the full amount is no longer probable. Bad
    debts are written off as incurred. The Company generally does
    not require collateral from its customers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company maintains allowances for doubtful accounts for
    estimated losses resulting from the failure of customers to make
    payments on time. The Company reviews the accounts receivable on
    a periodic basis and makes general and specific allowances when
    there is doubt as to the collectibility of individual balances.
    In evaluating the collectibility of individual receivable
    balances, the Company considers many factors, including the age
    of the balance, the customer&#146;s historical payment history,
    its current credit-worthiness and current economic trends.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Revenue
    Recognition</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Revenue Recognition Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company recognizes revenue based on the following principles:
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Online
    marketing services</FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (1)&#160;Auction-based
    <FONT style="white-space: nowrap">pay-for-performance</FONT>
    service
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company&#146;s auction-based
    <FONT style="white-space: nowrap">pay-for-performance</FONT>
    (&#147;P4P&#148;) platform enables a customer to place its
    website link and related description on the Company&#146;s
    search result list. The customers make bids on keywords based on
    how much they are willing to pay for each click to their
    listings in the search results listed on the Company&#146;s
    website and the relevance between the keywords and the
    customer&#146;s businesses. Internet users&#146; search of the
    keyword will trigger the display of the listings. The ranking of
    the customer&#146;s listing depends on both the bidding price
    and the listing&#146;s relevance to the keyword searched.
    Customer pays the Company only when a user clicks on one of its
    website links. Revenue is recognized when a user clicks on one
    of the customer-sponsored website links, as there is persuasive
    evidence of an arrangement, the fee is fixed or determinable and
    collection is reasonably assured, as prescribed by ASC subtopic
    <FONT style="white-space: nowrap">605-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">605-10&#148;),</FONT>
    <I>Revenue Recognition: Overall</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For certain P4P customers engaged through direct sales, the
    Company may provide certain value-added consultative support
    services to help its customers to better utilize its P4P online
    marketing system. Fees for such services are recognized as
    revenue on a pro-rata basis over the contracted service period.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (2)&#160;Other performance-based online marketing services
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    To the extent the Company provides online marketing services
    based on performance criteria other than click-throughs, such as
    the number of telephone calls brought to its customers, the
    number of users registered with its customers, or the number of
    minimum click-throughs, revenue is recognized when the specified
    performance criteria are met together with satisfaction of other
    applicable revenue recognition criteria as prescribed by
    <FONT style="white-space: nowrap">ASC&#160;605-10.</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (3)&#160;Time-based online advertising services
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For time-based online advertising services such as text links,
    banners, or other forms of graphical advertisements, the Company
    recognizes revenue, in accordance with
    <FONT style="white-space: nowrap">ASC&#160;605-10,</FONT>
    on a pro-rata basis over the contractual term commencing on the
    date the customer&#146;s advertisement is displayed in a
    specified webpage. For certain time-based contractual
    agreements, the Company may also provide certain performance
    guarantees, in which cases revenue is recognized at the later of
    the completion of the time commitment or performance guarantee.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-15
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (4)&#160;Online marketing services involving Baidu Union
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu Union is the program through which the Company expands
    distribution of its customers&#146; sponsored links or
    advertisements by leveraging traffic of the Baidu Union
    members&#146; internet properties. The Company makes payments to
    Baidu Union members for acquisition of traffic. The Company
    recognizes gross revenue for the amount of fees it receives from
    its customers. Payments made to Baidu Union members are included
    in cost of revenues as traffic acquisition costs.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (5)&#160;Barter transactions
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company engages in barter transactions from time to time and
    in such situations follows the guidance set forth in ASC
    subtopic
    <FONT style="white-space: nowrap">845-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">845-10&#148;),</FONT>
    <I>Nonmonetary Transactions: Overall</I>. While nonmonetary
    transactions are generally recorded at fair value, if such value
    is not determinable within reasonable limits, the transaction is
    recognized based on the carrying value of the product or
    services provided. The amount of revenues recognized for barter
    transactions was insignificant for each of the periods presented.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, the Company recognized revenues for barter
    transactions involving advertising in accordance with ASC
    subtopic
    <FONT style="white-space: nowrap">605-20</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">605-20&#148;),</FONT>
    <I>Revenue recognition: Services</I>. However, neither the
    amount recognized nor the volume of such transactions qualified
    for income recognition was material for any of the periods
    presented.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In certain instances, the Company may be granted equity
    instruments in exchange for services. In accordance with ASC
    subtopic
    <FONT style="white-space: nowrap">505-50</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">505-50&#148;),</FONT>
    <I>Equity: Equity-based Payments to Non-Employees</I>, if the
    Company provides services in exchange for equity instruments,
    the Company measures the fair value of those equity instruments
    for revenue recognition purposes as of the earlier of either of
    the following dates:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The date the parties come to a mutual understanding of the terms
    of the equity-based compensation arrangement and a commitment
    for performance by the Company to earn the equity instruments is
    reached;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The date at which the Company&#146;s performance necessary to
    earn the equity instruments is completed.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If, as of the measurement date, the fair value of the equity
    instruments received is not determinable within reasonable
    limits, the transaction is recognized based on the fair value of
    the services provided. If the fair value of both the equity
    instruments received and the services provided cannot be
    determined, no revenue is recognized for the services provided
    and the equity instrument received is recorded at zero carrying
    value. The amount of revenues recognized for such transactions
    was insignificant in each of the years presented.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (6)&#160;Other revenue recognition related policies
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If a sales arrangement involves multiple deliverables, and the
    arrangement is divided into separate units of accounting in
    accordance with ASC subtopic
    <FONT style="white-space: nowrap">605-25</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">605-25&#148;),</FONT>
    <I>Revenue recognition: Multiple-Element Arrangements</I>, the
    total revenue on such arrangement is allocated to the individual
    deliverables based on their relative fair values. If sufficient
    vendor-specific objective evidence of fair value does not exist
    for the allocation of revenue, the fee for the entire
    arrangement is recognized ratably over the term of the
    arrangement or upon the delivery of the last deliverable, when
    other revenue recognition criteria have been met.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company delivers some of its online marketing services to
    end customers through engaging third party distributors. In this
    context, the Company may provide cash incentives to
    distributors. The cash incentives are accounted for as reduction
    of revenue in accordance with ASC subtopic
    <FONT style="white-space: nowrap">605-50</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">605-50&#148;),</FONT>
    <I>Revenue recognition: Customer Payments and Incentives</I>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company provides sales incentives to customers to entitle
    customers to receive reductions in the price of the online
    marketing services by meeting certain cumulative consumption
    requirements. The Company accounts for these award credits
    granted to members in conjunction with a current sale of
    products or services as a multiple-element arrangement by
    analogizing to ASC
    <FONT style="white-space: nowrap">605-25.</FONT> The
    consideration allocated to the award credits, as deferred
    revenue is based on an assumption that the customer will
    purchase the minimum amount of future service necessary
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-16
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    to obtain the maximum award credits available. The deferred
    revenue is recognized as revenue proportionately as the future
    services are delivered to the customer or when the loyalty
    points expire.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Cash received in advance from customers is recorded as customer
    advances and deposits. The unused cash balances remaining in
    customers&#146; accounts are included as a liability of the
    Company. Deferred revenue is recorded when services are provided
    before the other revenue recognition criteria set forth in
    <FONT style="white-space: nowrap">ASC&#160;605-10</FONT>
    are fulfilled.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company operates an online game platform, on which
    registered users could access games provided by online game
    developers. The rights and obligations of each party to the
    arrangement indicate that the Company is acting as an agent
    whereas the online game developer is the principal as a result
    of being the primary obligor in the arrangement. The Company
    recognizes the shared revenue, on a net basis, based on the
    ratios pre-determined with the online game developers when all
    the revenue recognition criteria set forth in
    <FONT style="white-space: nowrap">ASC&#160;605-10</FONT>
    are met, which is generally when the user purchases virtual
    currencies issued by the game developers through the
    Company&#146;s payment channel. The amount of revenues
    recognized was not significant in each of the years presented.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Cost
    of Revenues</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Cost Of Sales Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Cost of revenues consists primarily of business taxes and
    surcharges, traffic acquisition costs, bandwidth costs,
    depreciation, payroll and related costs of operations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company incurs business taxes and surcharges in connection
    with the provision of online marketing services, technical and
    consultative service fees charged by Baidu Online to VIEs and
    other taxable services in the PRC. According to ASC subtopic
    <FONT style="white-space: nowrap">605-45</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">605-45&#148;),</FONT>
    <I>Revenue Recognition: Principal Agent Considerations</I>, the
    Company includes the business tax and surcharges incurred on its
    online marketing revenues in cost of revenues. The business tax
    and surcharges in cost of revenues for the years ended
    December&#160;31, 2008, 2009 and 2010 were
    RMB200.09&#160;million, RMB275.92&#160;million and
    RMB504.85&#160;million (US$76.49&#160;million), respectively.
    Traffic acquisition costs represent the amounts paid or payable
    to Baidu Union members who direct search queries to the
    Company&#146;s websites or distribute the Company&#146;s
    customers&#146; paid links through their properties. These
    payments are primarily based on revenue sharing arrangements
    under which the Company pays its Baidu Union members a
    percentage of the fees it earns from its online marketing
    customers.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Advertising
    Expenses</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Advertising Costs Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Advertising expenses, primarily advertisements through various
    forms of media, are included in &#147;Selling, general and
    administrative expense&#148; in the consolidated statements of
    income and are expensed when incurred. Advertising expenses for
    the years ended December&#160;31, 2008, 2009 and 2010 were
    RMB29.22&#160;million, RMB77.80&#160;million and
    RMB74.76&#160;million (US$11.33&#160;million), respectively.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Other
    Income, net</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Other Income And Other Expense Disclosure" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Other income, net consists primarily of interest income,
    government subsidies, impairment of long-term investments and
    non-operating expenses. Interest income is mainly generated from
    bank deposits and other interest-earning financial assets and is
    recognized on an accrual basis. Other income, net primarily
    consists of financial subsidies received from provincial and
    local governments for operating a business in their
    jurisdictions and compliance with specific policies promoted by
    the local governments. During the years ended December&#160;31,
    2008, 2009 and 2010, the Group received financial subsidies of
    RMB22.72&#160;million, RMB42.50&#160;million and
    RMB49.14&#160;million (US$7.45&#160;million), respectively, from
    various local PRC government authorities. There are no defined
    rules and regulations to govern the criteria necessary for
    companies to receive such benefits, and the amount of financial
    subsidy is determined at the discretion of the relevant
    government authorities. Such amounts are recorded as other
    income when received and there are no further conditions to be
    met before recognition.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-17
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Leases</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Lease Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Leases have been classified as either capital or operating
    leases. Leases that transfer substantially all the benefits and
    risks incidental to the ownership of assets are accounted for as
    if there was an acquisition of an asset and incurrence of an
    obligation at the inception of the lease. All other leases are
    accounted for as operating leases wherein rental payments are
    expensed as incurred. The Company had no capital leases for the
    years ended December&#160;31, 2008, 2009 and 2010.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Income
    Taxes</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Income Tax Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company recognizes income taxes under the liability method.
    Deferred income taxes are recognized for differences between the
    financial reporting and tax bases of assets and liabilities at
    enacted tax rates in effect for the years in which the
    differences are expected to reverse. The Company records a
    valuation allowance against the amount of deferred tax assets
    that it determines is not more likely than not being realized.
    The effect on deferred taxes of a change in tax rates is
    recognized in income in the period that includes the enactment
    date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company adopted the provisions of ASC subtopic
    <FONT style="white-space: nowrap">740-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">740-10&#148;),</FONT>
    <I>Income Taxes: Overall</I>, on January&#160;1, 2007.
    <FONT style="white-space: nowrap">ASC&#160;740-10</FONT>
    clarified the accounting for uncertainty in income taxes by
    prescribing the recognition threshold a tax position is required
    to meet before being recognized in the financial statements. The
    Company has elected to classify interest and penalties related
    to an uncertain tax position (if and when required) as part of
    income tax expense in the consolidated statements of income. As
    of and for the years ended December&#160;31, 2008, 2009 and
    2010, no unrecognized tax benefits or interest and penalties
    associated with uncertainty in income taxes have been recognized.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Share-based
    Compensation</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Compensation Related Costs Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company adopted ASC subtopic
    <FONT style="white-space: nowrap">718-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">718-10&#148;),</FONT>
    <I>Compensation-Stock Compensation: Overall</I>, using the
    modified prospective transition approach from January&#160;1,
    2006. Pursuant to ASC
    <FONT style="white-space: nowrap">718-10,</FONT> the
    Company recognized share-based compensation expense over the
    requisite service periods for any share-based awards granted
    after January&#160;1, 2006 based on the fair values of all
    share-based awards on the dates of grant.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company has elected to recognize share-based compensation
    after the date of adoption of
    <FONT style="white-space: nowrap">ASC&#160;718-10</FONT>
    using the straight-line method for all share-based awards
    issued. Forfeitures have been estimated based on historical
    experience and periodically reviewed. Cancellation of an award
    accompanied by the concurrent grant of a replacement award is
    accounted for as a modification of the terms of the cancelled
    award (&#147;modification awards&#148;). The compensation costs
    associated with the modification awards are recognized if either
    the original vesting condition or the new vesting condition has
    been achieved. Such compensation costs cannot be less than the
    grant-date fair value of the original award. The incremental
    compensation cost is measured as the excess of the fair value of
    the replacement award over the fair value of the cancelled award
    at the cancellation date. Therefore, in relation to the
    modification awards, the Company recognizes share-based
    compensation over the vesting periods of the new options, which
    comprises, (1)&#160;the amortization of the incremental portion
    of share-based compensation over the remaining vesting term and
    (2)&#160;any unrecognized compensation cost of original award,
    using either the original term or the new term, whichever is
    higher for each reporting period.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company accounts for share awards issued to non-employees in
    accordance with the provisions of ASC subtopic
    <FONT style="white-space: nowrap">505-50</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">505-50&#148;),</FONT>
    <I>Equity: Equity-based Payments to Non-Employees</I>. Under ASC
    <FONT style="white-space: nowrap">505-50,</FONT> the
    Company uses the Black-Scholes option pricing model method to
    measure the value of options granted to non-employees at each
    vesting date to determine the appropriate charge to share-based
    compensation.
    <FONT style="white-space: nowrap">ASC&#160;718-10</FONT>
    also requires share-based compensation to be presented in the
    same manner as cash compensation rather than as a separate line
    item.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-18
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
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<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Earnings
    Per Share (&#147;EPS&#148;)</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Earnings Per Share Policy" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company computes earnings per Class&#160;A and Class&#160;B
    ordinary shares in accordance with ASC subtopic
    <FONT style="white-space: nowrap">260-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">260-10&#148;),</FONT>
    <I>Earnings Per Share: Overall</I>, using the two class method.
    Under the provisions of
    <FONT style="white-space: nowrap">ASC&#160;260-10,</FONT>
    basic net income per share is computed using the weighted
    average number of ordinary shares outstanding during the period
    except that it does not include unvested ordinary shares subject
    to repurchase or cancellation. Diluted net income per share is
    computed using the weighted average number of ordinary shares
    and, if dilutive, potential ordinary shares outstanding during
    the period. Potentially dilutive securities have been excluded
    from the computation of diluted net income per share if their
    inclusion is anti-dilutive. Potential ordinary shares consist of
    the incremental ordinary shares issuable upon the exercise of
    stock options, restricted shares subject to forfeiture, and
    contracts that may be settled in the Company&#146;s stock or
    cash. The dilutive effect of outstanding stock options and
    restricted shares is reflected in diluted earnings per share by
    application of the treasury stock method. The computation of the
    diluted net income per share of Class&#160;A ordinary shares
    assumes the conversion of Class&#160;B ordinary shares, while
    the diluted net income per share of Class&#160;B ordinary shares
    does not assume the conversion of those shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The liquidation and dividend rights of the holders of the
    Company&#146;s Class&#160;A and Class&#160;B ordinary shares are
    identical, except with respect to voting. As a result, and in
    accordance with ASC subtopic
    <FONT style="white-space: nowrap">260-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">260-10&#148;),</FONT>
    <I>Earnings Per Share: Overall</I>, the undistributed earnings
    for each year are allocated based on the contractual
    participation rights of the Class A and Class&#160;B ordinary
    shares as if the earnings for the year had been distributed. As
    the liquidation and dividend rights are identical, the
    undistributed earnings are allocated on a proportionate basis.
    Further, as the conversion of Class&#160;B ordinary shares is
    assumed in the computation of the diluted net income per share
    of Class&#160;A ordinary shares, the undistributed earnings are
    equal to net income for that computation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For the purposes of calculating the Company&#146;s basic and
    diluted earnings per Class&#160;A and Class B ordinary shares,
    the ordinary shares relating to the options that were exercised
    are assumed to have been outstanding from the date of exercise
    of such options.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Concentration
    of Risks</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Concentration Risk Disclosure" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Concentration
    of credit risk</FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Financial instruments that potentially subject the Company to
    significant concentration of credit risk primarily consist of
    cash and cash equivalents, restricted cash, short-term
    investments and accounts receivable. The Company has
    RMB8.20&#160;billion (US$1.24&#160;billion) in cash and cash
    equivalents, restricted cash and short-term investments. The
    Company has approximately RMB8.06&#160;billion
    (US$1.22&#160;billion) in cash, bank deposits and money market
    funds in the PRC, which constitute about 98.29% of total cash
    and cash equivalents and short-term investments. In the event of
    bankruptcy of one of the financial institutions in which the
    Company has deposits or investments, it may be unlikely to claim
    its deposits or investments back in full.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Accounts receivable are typically unsecured and derived from
    revenue earned from customers and agents in China, which are
    exposed to credit risk. The risk is mitigated by credit
    evaluations the Company performs on its customers and its
    ongoing monitoring process of outstanding balances. The Company
    maintains reserves for estimated credit losses and these losses
    have generally been within its expectations.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Business
    and economic risks</FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company participates in a dynamic high technology industry
    and believes that changes in any of the following areas could
    have a material adverse effect on the Company&#146;s future
    financial position, results of operations or cash flows: changes
    in the overall demand for services and products; changes in
    business offerings; competitive pressures due to new entrants;
    advances and new trends in new technologies and industry
    standards; changes in bandwidth suppliers; changes in certain
    strategic relationships or customer relationships; regulatory
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-19
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    considerations; copyright regulations; and risks associated with
    the Company&#146;s ability to attract and retain employees
    necessary to support its growth.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No customer or any Baidu Union member generated greater than 10%
    of total revenues in any of the periods presented.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company&#146;s operations could be adversely affected by
    significant political, economic and social uncertainties in the
    PRC.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Currency
    convertibility risk</FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Substantially all of the Company&#146;s businesses are
    transacted in RMB, which is not freely convertible into foreign
    currencies. All foreign exchange transactions take place either
    through the People&#146;s Bank of China or other banks
    authorized to buy and sell foreign currencies at the exchange
    rates quoted by the People&#146;s Bank of China. Approval of
    foreign currency payments by the People&#146;s Bank of China or
    other regulatory institutions requires submitting a payment
    application form together with suppliers&#146; invoices,
    shipping documents and signed contracts.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Foreign
    currency exchange rate risk </FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company&#146;s exposure to foreign currency exchange rate
    risk primarily relates to cash and cash equivalents and
    short-term investments denominated in the U.S.&#160;dollar. The
    functional currency of the Company is US$, and the reporting
    currency is RMB. Since July&#160;21, 2005, the RMB has been
    permitted to fluctuate within a narrow and managed band against
    a basket of certain foreign currencies. On June&#160;19, 2010,
    the People&#146;s Bank of China announced the end of the
    RMB&#146;s de facto peg to US$, a policy which was instituted in
    late 2008 in the face of the global financial crisis, to further
    reform the RMB exchange rate regime and to enhance the
    RMB&#146;s exchange rate flexibility. The exchange rate floating
    bands will remain the same as previously announced in the
    inter-bank foreign exchange market. The depreciation of the US$
    against RMB was approximately 3.31% in 2010. Any significant
    revaluation of RMB may materially and adversely affect the
    Company&#146;s cash flows, revenues, earnings and financial
    position, and the value of, and any dividends payable on, the
    ADS in U.S.&#160;dollars. As a result, an appreciation of RMB
    against the U.S.&#160;dollar would result in foreign currency
    translation losses when translating the net assets of the
    Company from the U.S.&#160;dollar into RMB.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The functional currency of the subsidiaries in Japan is Japanese
    Yen (&#147;JPY&#148;), and the reporting currency is RMB. During
    2010, JPY appreciated by approximately 10.23% against RMB. The
    appreciation of JPY against RMB results in foreign currency
    translation gains when translating the net assets into RMB.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For the years ended December&#160;31, 2008, 2009 and 2010, the
    net foreign currency translation loss resulting from the
    translation from the respective functional currencies to the RMB
    reporting currency recorded in the Company&#146;s other
    comprehensive loss was RMB27.60&#160;million,
    RMB3.96&#160;million and RMB3.87&#160;million
    (US$0.59&#160;million), respectively.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Recent
    Accounting Pronouncements</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Description Of New Accounting Pronouncements Not Yet Adopted" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In October 2009, the FASB issued ASU
    <FONT style="white-space: nowrap">No.&#160;2009-13</FONT>
    (&#147;ASU
    <FONT style="white-space: nowrap">2009-13&#148;),</FONT>
    <I>Multiple-Deliverable Revenue Arrangements</I>. ASU
    <FONT style="white-space: nowrap">2009-13</FONT>
    amends ASC
    <FONT style="white-space: nowrap">sub-topic</FONT>
    <FONT style="white-space: nowrap">605-25</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">605-25&#148;),</FONT>
    <I>Revenue Recognition: Multiple-Element Arrangements</I>,
    regarding revenue arrangements with multiple deliverables. This
    standard addresses how to determine whether an arrangement
    involving multiple deliverables contains more than one unit of
    accounting, and how the arrangement consideration should be
    allocated among the separate units of accounting. This standard
    establishes a selling price hierarchy for determining the
    selling price of a deliverable, which is based on:
    (a)&#160;vendor-specific objective evidence;
    (b)&#160;third-party evidence; or (c)&#160;estimated selling
    price. This standard also eliminates the residual method of
    allocation and requires that arrangement consideration be
    allocated at the inception of the arrangement to all
    deliverables using the relative selling price method. In
    addition, this standard significantly expands required
    disclosures related to a vendor&#146;s multiple-deliverable
    revenue arrangements. This standard is
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-20
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    effective for fiscal years beginning after June&#160;15, 2010
    and to be applied retrospectively or prospectively for new or
    materially modified arrangements. In addition, early adoption is
    permitted. The Company will adopt ASU
    <FONT style="white-space: nowrap">2009-13</FONT>
    beginning January&#160;1, 2011 and the Company is in the process
    of assessing the impact of the adoption of the standard on its
    consolidated financial statements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In April 2010, the FASB issued ASU
    <FONT style="white-space: nowrap">No.&#160;2010-13</FONT>
    (&#147;ASU
    <FONT style="white-space: nowrap">2010-13&#148;),</FONT>
    <I>Compensation-Stock Compensation (&#147;</I>ASC 718&#148;):
    <I>Effect of Denominating the Exercise Price of a Share-Based
    Payment Award in the Currency of the Market in Which the
    Underlying Equity Security Trades</I>. The objective of this
    standard is to address the classification of an employee
    share-based payment award with an exercise price dominated in
    the currency of a market in which the underlying equity security
    trades. ASC&#160;718 provides guidance on the classification of
    a share-based payment award as either equity or liability. A
    share-based payment award that contains a condition that is not
    a market, performance, or service condition is required to be
    classified as a liability. ASU
    <FONT style="white-space: nowrap">2010-13</FONT>
    provide amendments to ASC&#160;718 to clarify that an employee
    share-based payment award with an exercise price denominated in
    the currency of a market in which a substantial portion of the
    entity&#146;s equity securities trades should not be considered
    to contain a condition that is not a market, performance, or
    service condition. Therefore, an entity would not classify such
    an award as a liability if it otherwise qualifies as equity.
    Then amendments in this standard are effective for fiscal years,
    and interim periods within those fiscal years, beginning on or
    after December&#160;31, 2010. Early application is permitted.
    The Company does not expect the adoption of ASU
    <FONT style="white-space: nowrap">2010-13</FONT> will
    have a material impact on its consolidated financial statements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2010, the FASB issued ASU
    <FONT style="white-space: nowrap">No.&#160;2010-28</FONT>
    (&#147;ASU
    <FONT style="white-space: nowrap">2010-28&#148;),</FONT>
    <I>Intangibles&#160;&#151; Goodwill and Other </I>(&#147;ASC
    350&#148;): <I>When to Perform Step 2 of the Goodwill Impairment
    Test for Reporting Units with Zero or Negative Carrying
    Amounts</I>. The objective of this standard is to address
    questions about entities with reporting units with zero or
    negative carrying amounts because some entities concluded that
    Step 1 of the test is passed in those circumstances because the
    fair value of their reporting unit will generally be greater
    than zero. The amendments in this standard modify Step 1 of the
    goodwill impairment test for reporting units with zero or
    negative carrying amounts. For those reporting units, an entity
    is required to perform Step 2 of the goodwill impairment test if
    it is more likely than not that a goodwill impairment exists.
    This standard is effective for fiscal years, and interim periods
    within those years, beginning after December&#160;15, 2010.
    Early adoption is not permitted. The Company does not expect the
    adoption of ASU
    <FONT style="white-space: nowrap">2010-28</FONT> will
    have a material impact on its consolidated financial statements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2010, the FASB issued ASU
    <FONT style="white-space: nowrap">No.&#160;2010-29</FONT>
    (&#147;ASU
    <FONT style="white-space: nowrap">2010-29&#148;),</FONT>
    <I>Disclosure of Supplementary Pro Forma Information for
    Business Combinations </I>(&#147;ASC 805&#148;). The objective
    of this standard is to address diversity in practice about the
    interpretation of the pro forma revenue and earnings disclosure
    requirements for business combinations. This standard specifies
    that if a public entity presents comparative financial
    statements, the entity should disclose revenue and earnings of
    the combined entity as though the business combination(s) that
    occurred during the current year had occurred as of the
    beginning of the comparable prior annual reporting period only.
    This standard also expands the supplemental pro forma
    disclosures under ASC&#160;805 to include a description of the
    nature and amount of material, nonrecurring pro forma
    adjustments directly attributable to the business combination
    included in the reported pro forma revenue and earnings. This
    standard is effective prospectively for business combinations
    for which the acquisition date is on or after the beginning of
    the first annual reporting period beginning on or after
    December&#160;15, 2010. Early adoption is permitted. The Company
    does not expect the adoption of ASU
    <FONT style="white-space: nowrap">2010-29</FONT> will
    have a material impact on its consolidated financial statements.
</DIV>
<!-- /XBRL,dnap -->
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">3.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">INVESTMENTS</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Short-term
    investments</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of December&#160;31, 2009 and 2010, the Company&#146;s
    short-term investments, which were fixed-rate investments
    classified as
    <FONT style="white-space: nowrap">held-to-maturity</FONT>
    securities, totaled approximately RMB381.15&#160;million and
    RMB376.49&#160;million (US$57.04&#160;million), respectively. As
    of December&#160;31, 2010, all the fixed-rate investments were
    time deposits in commercial banks and financial institutions
    with an original maturity of less than one year.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-21
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    During the years ended December&#160;31, 2008, 2009 and 2010,
    the Company recorded short-term investment gains and interest
    income of RMB8.75&#160;million, RMB8.18&#160;million and
    RMB37.21&#160;million (US$5.64&#160;million) in the consolidated
    statements of income, respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Short-term investments as of December&#160;31, 2009 and 2010
    were as follows:
</DIV>
<!-- XBRL,dn,"Held To Maturity Securities" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="43%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>As of December&#160;31, 2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Gross<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Gross<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Unrecognized<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Unrecognized<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Amortized<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Holding<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Holding<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Fair<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Fair<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Cost</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Gains</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Losses</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Value</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Value</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Short-term investments:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="white-space: nowrap">Held-to-maturity</FONT>
    securities(1)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    Fixed-rate investments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    381,149
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    354
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    381,503
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    57,803
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    381,149
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    354
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    381,503
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    57,803
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="43%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="18" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>As of December&#160;31, 2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Gross<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Gross<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Unrecognized<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Unrecognized<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Amortized<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Holding<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Holding<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Fair<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Fair<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Cost</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Gains</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Losses</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Value</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Value</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Short-term investments:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="white-space: nowrap">Held-to-maturity</FONT>
    securities(1)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    Fixed-rate investments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    376,492
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,263
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    375,234
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    56,854
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    376,492
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,263
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    375,234
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    56,854
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    (1) </TD>
    <TD></TD>
    <TD valign="bottom">
    The Company&#146;s
    <FONT style="white-space: nowrap">held-to-maturity</FONT>
    securities are stated at amortized cost and the fair value is
    determined based on a discounted cash flow model using the
    discount curve of market interest rates.</TD>
</TR>

</TABLE>
<!-- /XBRL,dn -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Long-term
    investments</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company&#146;s long-term investments consist of cost method
    investments, equity method investments and
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    securities.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Long-term
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    securities</FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company&#146;s long-term investments in
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    securities are investments which are neither classified as cost
    method investments nor equity method investments.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In May 2010, the Company acquired 4,942,784
    <FONT style="white-space: nowrap">series&#160;A-1</FONT>
    convertible redeemable preferred shares of 6DXchange Inc. with a
    total cash consideration of US$3.79&#160;million. The Company
    holds 11.60% of equity interests of 6DXchange on an as-converted
    basis. In accordance with
    <FONT style="white-space: nowrap">ASC&#160;320-10,</FONT>
    investments in securities which are redeemable at the option of
    the investor are considered debt securities. The investment in
    6DXchange Inc. was classified as
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    debt securities because it was not classified as either
    <FONT style="white-space: nowrap">held-to-maturity</FONT>
    or trading securities as the convertible redeemable preferred
    shares have no stated maturity date and the Company does not
    have the intent to sell it in the near term. As the Company does
    not expect to sell or redeem it within one year and has the
    intent to hold it for long-term returns, the investment is
    classified as long-term
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    securities.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of December&#160;31, 2010, the fair value of long-term
    investments in available-for sale securities approximates the
    cost of the investment of US$3.79&#160;million. For further
    information, see Note&#160;18.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-22
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Cost
    method investments</FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company&#146;s carrying amount of cost method investments
    was RMB12.29&#160;million and RMB204.35&#160;million
    (US$30.96&#160;million) as of December&#160;31, 2009 and 2010,
    respectively. The increase is primarily due to the investment in
    the ordinary shares of a privately-held, PRC-based home
    furnishing
    <FONT style="white-space: nowrap">E-commerce</FONT>
    company in 2010, in which the Company does not have significant
    influence. The impairment charges on cost method investments
    were RMB7.99&#160;million, nil and nil for the years ended
    December&#160;31, 2008, 2009 and 2010, respectively.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <I><U><FONT style="font-family: 'Times New Roman', Times">Equity
    method investments</FONT></U></I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In July 2009, Beijing Perusal, together with Paibo Online
    (Beijing) Technology Co., Ltd. (&#147;Paibo&#148;), a subsidiary
    of Beijing News, set up a joint venture, Beijing Paibo Times
    Technology Co., Ltd. (&#147;Paibo Times&#148;), to operate a
    community website and provide information of interest to Beijing
    local residents. The registered capital of Paibo Times is
    RMB5.34&#160;million (US$0.81&#160;million). The Company holds
    42.12% equity interest in Paibo Times and accounts for the
    investment under the equity method.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In February 2010, the Company, Providence Equity Partners
    (&#147;Providence&#148;), and Dragon Ventures Limited
    (&#147;Dragon&#148;) signed an agreement, pursuant to which
    Providence and Dragon agreed to acquire US$50.00&#160;million in
    convertible redeemable preferred shares and US$1.00&#160;million
    in convertible preferred shares, respectively, of Qiyi.com,
    Inc., a Cayman Islands company established by the Company.
    Qiyi.com, Inc., and entities under its control, develop and
    operate an advertising supported online video business. The
    Company accounts for the investment in Qiyi.com, Inc. under the
    equity method despite holding 100% of its common shares due to
    certain substantive participating rights provided to the
    convertible redeemable preferred shareholder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On January&#160;27, 2010, the Company signed an agreement with
    Rakuten, Inc. (&#147;Rakuten&#148;), an
    <FONT style="white-space: nowrap">e-commerce</FONT>
    website in Japan, to establish a joint venture, RakuBai Limited,
    to build a B2B2C online shopping mall for PRC Internet users.
    B2B2C refers to an online marketplace that links and provides
    value-added services to both business to business and business
    to consumer. On February&#160;12, 2010, RakuBai Limited was
    incorporated in Hong Kong. The registered capital of RakuBai
    Limited is US$20.0&#160;million. The Company holds 49% equity
    interest in RakuBai Limited and accounts for the investment
    under the equity method.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On August&#160;25, 2010, Baidu Netcom, together with Chongqing
    Yubao Culture Communication Co., Ltd. (&#147;Yubao&#148;),
    Chongqing Service News Office (&#147;Service News&#148;) and a
    third party individual, established Chongqing Rongdu Technology
    Co., Ltd. (&#147;Chongqing Rongdu&#148;) to operate a community
    website and provide daily information of interest to Chongqing
    local residents. The registered capital of Chongqing Rongdu is
    RMB2.50&#160;million (USD$0.38&#160;million). Baidu Netcom,
    Yubao, Service News and the third party individual hold 40%,
    30%, 15% and 15% of the JV&#146;s equity interest, respectively.
    The Company accounts for its investment in Chongqing Rongdu
    under the equity method.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On December&#160;22, 2010, Henan Ruizhiqi Information Technology
    Co., Ltd. (&#147;Henan Ruizhiqi&#148;), a third party company,
    transferred its 40% of the equity interest in Henan Feidian
    Network Technology Co., Ltd. (&#147;Henan Feidian&#148;) to
    Baidu Netcom at the nominal amount of RMB1.00 (USD$0.15). Henan
    Feidian operates a community website and provides daily
    information of interest to Henan local residents. The registered
    capital of Henan Feidian is RMB2.00&#160;million
    (US$0.30&#160;million). Baidu Netcom, Henan Ruizhiqi, Henan
    Business News and a third party individual hold 40%, 10%, 35%
    and 15% of Henan Feidian&#146;s equity interest, respectively.
    The Company accounts for its investment in Henan Feidian under
    the equity method. Henan Feidian had limited operation as of
    December&#160;31, 2010.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    There was no impairment loss recognized for the years ended
    December&#160;31, 2008, 2009 and 2010.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-23
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->
<!-- XBRL,n -->
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">4.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">ACCOUNTS
    RECEIVABLE</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<!-- XBRL,dn,"Schedule Of Accounts Notes Loans And Financing Receivable" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="72%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Accounts receivable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    170,625
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    299,123
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45,322
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Less: Allowance for doubtful accounts
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (9,015
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,223
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (337
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    161,610
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    296,900
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44,985
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The movements in the allowance for doubtful accounts were as
    follows:
</DIV>
<!-- XBRL,dn,"Movements In Allowance For Doubtful Accounts Roll Forward" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="66%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balance at the beginning of the year
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,581
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,561
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,015
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,366
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Amounts charged to (credited against) costs and expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,390
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    454
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6,792
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,029
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Write-offs
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,410
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balance at the end of the year
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,561
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,015
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,223
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    337
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">5.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">OTHER
    ASSETS, CURRENT</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<!-- XBRL,dn,"Other Assets Current" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="73%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Deposits
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,736
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22,832
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,460
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Advances to suppliers
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,965
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,913
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,260
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Prepaid expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,026
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    33,275
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,042
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Interest receivable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,469
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,994
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    908
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Receivables from employees
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,118
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,014
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,790
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Receivables from service provider
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,614
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    682
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    103
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Other
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    139
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    944
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    143
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    91,067
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    103,654
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,706
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-24
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->
<!-- /XBRL,dn -->
<!-- XBRL,n -->
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">6.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">FIXED
    ASSETS</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<!-- XBRL,dn,"Property Plant And Equipment" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="65%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Computer equipment
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,128,844
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,956,642
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    296,461
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Office building
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    363,198
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    391,895
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    59,378
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Office building related facility, machinery and equipment
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    118,844
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    137,542
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,840
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Internal-use software development costs
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44,925
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,022
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,609
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vehicles
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,020
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,829
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,035
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Office equipment
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    57,687
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    82,431
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,490
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Leasehold improvements
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,118
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    74,793
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,332
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Construction in progress
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,637
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,797
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,242
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,764,273
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,701,951
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    409,387
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Less: Accumulated depreciation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (766,716
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,079,539
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (163,567
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    997,557
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,622,412
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    245,820
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Depreciation expense was RMB259.64&#160;million,
    RMB285.20&#160;million and RMB380.89&#160;million
    (US$57.71&#160;million) for the years ended December&#160;31,
    2008, 2009 and 2010, respectively.
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">7.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">GOODWILL
    AND INTANGIBLE ASSETS</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Goodwill</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The changes in the carrying amount of goodwill are as follows:
</DIV>
<!-- XBRL,dn,"Schedule Of Goodwill" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="75%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balance as of January 1
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    51,082
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    63,691
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,650
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Goodwill acquired
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,609
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Foreign currency translation adjustment
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balance as of December 31
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    63,691
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    63,686
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,649
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-25
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->
<!-- /XBRL,dn -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Intangible
    assets</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Intangible assets consist of the following:
</DIV>
<!-- XBRL,dn,"Intangible Assets Disclosure" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="68%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>As of December&#160;31, 2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Gross<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Net<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Carrying<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Accumulated<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Carrying<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Value</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amortization</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Value</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Finite-lived:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Land use right
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    97,611
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,043
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    92,568
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Domain names
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,825
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (14,567
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    258
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Customer relationships
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,363
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (21,165
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,198
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Non-competition agreements
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,115
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (936
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    179
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Software
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,814
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,616
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,198
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Contract-based assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    338
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (226
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    112
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Trademark
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,727
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (55
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,672
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    155,793
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (43,608
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    112,185
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Indefinite-lived:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Domain names
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,360
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,360
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Trademark
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,050
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,050
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,410
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,410
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    166,203
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (43,608
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    122,595
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="58%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>As of December&#160;31, 2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Gross<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Net<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Net<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Carrying<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Accumulated<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Carrying<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Carrying<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Value</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amortization</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Value</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Value</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Finite-lived:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Land use right
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    97,611
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6,995
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    90,616
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,730
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Domain names
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,860
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (14,774
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    86
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Customer relationships
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    31,408
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (26,870
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,538
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    687
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Non-competition agreements
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,115
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,062
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Software
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,131
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,572
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,559
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,297
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Contract-based assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    338
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (281
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    57
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Trademark
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,727
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (248
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,479
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    224
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    159,190
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (53,802
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    105,388
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15,968
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Indefinite-lived:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Domain names
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,360
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,360
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,418
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Trademark
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,050
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,050
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    159
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,410
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,410
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,577
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    169,600
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (53,802
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    115,798
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,545
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-26
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->
<!-- /XBRL,dn -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company&#146;s indefinite-lived intangible assets include
    one domain name asset and the Company&#146;s trademark of
    &#147;BAIDU&#148;. This domain name asset was acquired in July
    2006 and is not subject to amortization, as the remaining useful
    life is indefinite. In addition, the Company&#146;s trademark of
    &#147;BAIDU&#148; qualified as a China well-known trademark by
    the State Trademark Office in March 2008. The registration costs
    were recorded as an intangible asset not subject to
    amortization, as the remaining useful life is indefinite.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Amortization expense for the years ended December&#160;31, 2008,
    2009 and 2010 was RMB12.08&#160;million, RMB10.73&#160;million
    and RMB10.25&#160;million (US$1.55&#160;million), respectively.
    Estimated amortization expense relating to the existing
    intangible assets with finite lives for each of next five years
    is as follows:
</DIV>
<!-- XBRL,dn,"Intangible Assets Future Amortization Expenses" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="85%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="2%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>US$</B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="7" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    For the year ending December&#160;31,
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,944
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,204
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2012
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,455
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    827
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2013
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,488
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    680
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2014
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,166
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    480
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2015
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,815
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    427
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">8.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">ACCOUNTS
    PAYABLE AND ACCRUED LIABILITIES</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<!-- XBRL,dn,"Accounts Payable And Accrued Liabilities Current" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="69%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Accrued payroll and welfare
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    95,412
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    150,160
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22,752
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Accrued operating expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    162,963
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    297,248
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45,038
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Tax payable
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    147,656
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    295,432
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44,762
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Distributors&#146; deposits
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,971
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,431
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,126
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Purchase of fixed assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    144,214
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    277,669
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42,071
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Traffic acquisition costs
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    109,305
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    133,864
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    20,282
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Bandwidth costs
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,417
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,488
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,225
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Professional expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,420
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,937
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,930
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Customers&#146; deposits on
    <FONT style="white-space: nowrap">e-commerce</FONT>
    platform
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    19,513
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38,278
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,800
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Others
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30,990
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    57,264
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,676
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    749,861
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,317,771
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    199,662
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The increase in accrued operating expenses resulted primarily
    from the incentives accrued for advertising agents.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The increase in purchase of fixed assets was mainly due to the
    purchase of computer equipment.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The increase in traffic acquisition costs was primarily due to
    the growth of revenue contribution from Baidu Union members.
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">9.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">INCOME
    TAXES</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company is incorporated in the Cayman Islands and conducts
    its primary business operations through the subsidiaries and
    VIEs in the PRC and Japan. It also has intermediate holding
    companies in the British Virgin Islands (&#147;BVI&#148;) and
    Hong Kong. Under the current laws of the Cayman Islands and BVI,
    the Company is not subject to tax on income or capital gains.
    Additionally, upon payments of dividends by the Company to its
    shareholders, no
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-27
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Cayman Islands and BVI withholding tax will be imposed. Under
    the Hong Kong tax laws, Baidu Hong Kong is exempted from income
    tax on its foreign-derived income and there are no withholding
    taxes in Hong Kong on remittance of dividends.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">China</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the current EIT Law which has been effective since 2008,
    domestic enterprises and Foreign Investment Enterprises (the
    &#147;FIE&#148;) are subject to a unified 25% enterprise income
    tax rate, except for certain entities that enjoyed the tax
    holidays.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    An enterprise recognized as a qualified &#147;High and New
    Technology Enterprise&#148; (&#147;HNTE&#148;) after 2008 is
    granted the preferential EIT rate of 15%. If an enterprise,
    which was recognized as a &#147;HNTE&#148; before 2008, is also
    verified as a HNTE after 2008, it is entitled to its remaining
    tax holiday granted before 2008 and a preferential EIT rate of
    15% upon expiration of the tax holiday thereafter. In accordance
    with tax circular Guoshuihan [2010] No.&#160;157, a qualified
    HNTE which is in the transitional period of the preferential
    reduction of tax rates may choose to enjoy a subsequent 50%
    reduction on the transitional tax rate, or a preferential EIT
    rate of 15% without further 50% reduction.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A qualified &#147;Software Enterprise&#148; is entitled to
    <FONT style="white-space: nowrap">2-year</FONT>
    exemption and subsequent 50% tax rate reduction for
    3&#160;years. If the applicable preferential EIT rate for a
    &#145;&#145; Software Enterprise&#148; before 2008 is 15%, it
    enjoys gradual increase in tax rate from 2008 to 2012,
    specifically, 18% in 2008, 20% in 2009, 22% in 2010, 24% in
    2011, and 25% in 2012 according to Guofa [2007] No. 39. Thus, if
    an enterprise was recognized as a qualified &#147;Software
    Enterprise&#148; before 2008 and still retains this
    qualification after 2008, the tax exemptions and deductions
    enjoyed by the qualified &#147;Software Enterprise&#148; are
    based on the applicable tax rates.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu Online, recognized as a qualified &#147;HNTE&#148; after
    2008, has enjoyed the preferential EIT rate of 15% from 2008.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu Times, a qualified &#147;HNTE&#148; before 2008, was
    granted prior to the effectiveness of the current EIT Law, tax
    holidays for several years, that is, a
    <FONT style="white-space: nowrap">3-year</FONT> tax
    exemption from 2006 to 2008, and a subsequent 50% tax reduction
    on the transitional tax rate for 2&#160;years from 2009 to 2010,
    namely, 10% in 2009 and 11% in 2010.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu China, was recognized as a qualified &#147;Software
    Enterprise&#148; before 2008 and still retains this
    qualification after 2008, and thus is entitled to
    <FONT style="white-space: nowrap">2-year</FONT>
    exemption from 2006 to 2007 and subsequent 50% tax rate
    reduction for 3&#160;years from 2008 to 2010 at 9% in 2008, 10%
    in 2009, and 11% in 2010.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the current EIT Law, dividends paid by a FIE to any of its
    foreign non-resident enterprise investors are subject to a 10%
    withholding tax. Thus, the dividends, if and when payable by
    Baidu Online to Baidu BVI, would be subject to 10% withholding
    tax. A lower tax rate will be applied if such foreign
    non-resident enterprise investor&#146;s jurisdiction of
    incorporation has signed a tax treaty or arrangement for the
    avoidance of double taxation and the prevention of fiscal
    evasion with respect to taxes on income with China. There is
    such a tax arrangement between PRC and Hong Kong. Thus, the
    dividends, if and when payable by Baidu Times and Baidu China to
    Baidu HK, would be subject to 5% withholding tax rather than
    statutory rate of 10% provided that Baidu HK meets the
    requirements stipulated by relevant PRC tax regulations.
    Furthermore, pursuant to the applicable circular and
    interpretations of the current EIT Law, dividends from earnings
    created prior to 2008 but distributed after 2008 are not subject
    to withholding income tax.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Moreover, the current EIT Law treats enterprises established
    outside of China with &#147;effective management and
    control&#148; located in China as PRC resident enterprises for
    tax purposes. The term &#147;effective management and
    control&#148; is generally defined as exercising overall
    management and control over the business, personnel, accounting,
    properties, etc. of an enterprise. The Company, if considered a
    PRC resident enterprise for tax purposes, would be subject to
    the PRC Enterprise Income Tax at the rate of 25% on its
    worldwide income for the
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-28
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    period after January&#160;1, 2008. As of December&#160;31, 2010,
    the Company has not accrued for PRC tax on such basis. The
    Company will continue to monitor its tax status.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Japan</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu Japan with a paid-in capital in excess of
    JPY100.00&#160;million is subject to national income tax of 30%.
    Baidu Japan is also subject to inhabitants tax, assessed by both
    prefectures and municipalities. Inhabitants tax is computed as a
    percentage of national income tax. The per capita tax is based
    on the Company&#146;s capitalization and the number of
    employees. In addition, Baidu Japan is subject to a corporate
    enterprise tax on a pro forma basis based on the amount of
    taxable profit subject to the corporate tax, added-value
    components, (e.g. labor costs, net interest and rental payments,
    income/loss for current year) and a capital component. Baidu
    Japan has been in a cumulative loss position since its inception.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company had minimal operations in jurisdictions other than
    the PRC. Income (loss) before income taxes consists of:
</DIV>
<!-- XBRL,dn,"Income Loss Before Income Taxes By Jurisdiction" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="55%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Years Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    PRC
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,360,326
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,907,575
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,321,910
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    654,834
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Non-PRC
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (196,147
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (224,454
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (260,747
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (39,507
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,164,179
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,683,121
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,061,163
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    615,327
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The pre-tax losses from non-PRC operations consists primarily of
    the operating costs, administration expenses, interest income
    and charges for share-based compensation. Income taxes consist
    of:
</DIV>
<!-- XBRL,dn,"Components Of Income Tax" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="60%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Years Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Current income tax
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    129,885
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    222,778
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    616,994
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    93,483
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Income tax refund due to reduced transitional tax rate
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (13,923
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6,625
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,004
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Deferred income tax benefit
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (58,553
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (62,308
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (129,415
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (19,608
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Valuation allowance
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44,739
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    51,470
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    55,041
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,340
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    116,071
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    198,017
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    535,995
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    81,211
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-29
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->
<!-- /XBRL,dn -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The reconciliation of tax computed by applying respective
    statutory income tax rate to pre-tax income is as follows
    (Amounts in thousands of Renminbi (&#147;RMB&#148;), and in
    thousands of U.S.&#160;Dollars (&#147;US$&#148;), except for per
    share data):
</DIV>
<!-- XBRL,dn,"Income Tax Expense Benefit Continuing Operations Income Tax Reconciliation" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="57%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Years Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Expected taxation at PRC EIT statutory rate
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    291,045
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    420,780
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,015,329
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    153,837
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Effect of differing tax rates in different jurisdictions
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,533
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,101
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,416
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,275
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Permanent differences&#160;&#151; non-taxable income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (2,121
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6,640
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (733
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (111
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Permanent differences&#160;&#151; non-deductible expenses
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,703
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,001
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,935
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,656
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Tax incentives relating to R&#038;D expenditures
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (17,848
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (9,125
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (22,925
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (3,473
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Effect of tax exemption and reduction inside PRC
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (205,980
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (258,647
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (533,802
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (80,879
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Income tax refund due to overpaid provisional tax
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (13,923
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (6,625
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (1,004
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Addition of under-provided EIT for previous years
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,359
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,570
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Addition to valuation allowance
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44,739
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    51,470
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    55,041
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,340
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Taxation for the year
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    116,071
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    198,017
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    535,995
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    81,211
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Effective tax rate
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9.97
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11.76
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.20
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13.20
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Basic earnings per share for Class&#160;A and Class&#160;B
    ordinary shares effect of tax exemptions and reductions inside
    the PRC
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6.02
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7.48
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.34
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.32
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company&#146;s effective tax rate increased in fiscal year
    2010 compared with 2009, primarily due to the increase of the
    preferential EIT rates for Baidu China and Baidu Times, which
    increased from 10% to 11% and 7.5% to 11%, respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The tax effects of temporary differences that give rise to the
    deferred tax balance at December&#160;31, 2009 and 2010 are as
    follows:
</DIV>
<!-- XBRL,dn,"Components Of Deferred Tax Assets" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="69%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Provision for doubtful receivables
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,103
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,964
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    298
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Fixed assets depreciation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,800
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41,089
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,225
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Net operating loss carry-forward
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    117,964
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    173,644
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,310
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Accrued expenses, payroll and others
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,007
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    80,592
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,211
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Deferred tax assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    167,874
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    297,289
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45,044
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Valuation allowance
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (124,918
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (179,959
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (27,267
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Deferred tax assets, net
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42,956
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    117,330
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,777
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company does not believe that sufficient positive evidence
    exists to conclude that the recoverability of Baidu Japan&#146;s
    net deferred tax assets is more likely than not to be realized.
    Consequently, the Company has provided full valuation allowances
    on the related net deferred tax assets.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of December&#160;31, 2010, the Company had net operating
    losses of approximately RMB461.00&#160;million
    (US$69.85&#160;million) from Baidu Japan, Baidu HK and PRC
    entities, which can be carried forward to offset future net
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-30
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    profit for income tax purposes. The Japan net operating loss
    will expire beginning 2015; the PRC net operating loss will
    expire beginning 2014; and the HK net operating loss can be
    carried forward without an expiration date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company has evaluated its income tax uncertainty under
    <FONT style="white-space: nowrap">ASC&#160;740-10.</FONT>
    <FONT style="white-space: nowrap">ASC&#160;740-10</FONT>
    clarifies the accounting for uncertainty in income taxes by
    prescribing the recognition threshold a tax position is required
    to meet before being recognized in the financial statements. The
    Company has elected to classify interest and penalties related
    to an uncertain tax position, if and when required, as part of
    income tax expense in the consolidated statements of operations.
    As of December&#160;31, 2010, there is no significant tax
    uncertainty impact on the Company&#146;s financial position and
    result of operations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company did not provide for deferred income taxes and
    foreign withholding taxes on the undistributed earnings of
    foreign subsidiaries as of December&#160;31, 2009 and 2010 on
    the basis of its intent to permanently reinvest foreign
    subsidiaries&#146; earnings. If these foreign earnings were to
    be repatriated in the future, the related tax liability may be
    reduced by any foreign income taxes previously paid on these
    earnings. Determination of the amount of unrecognized deferred
    tax liability related to these earnings is not practicable. In
    the case of its VIEs, undistributed earnings were insignificant
    as of each of the balance sheet dates.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In general, the PRC and Japanese tax authorities have up to five
    and seven years respectively to conduct examinations of the
    Company&#146;s tax filings. Accordingly, the PRC
    subsidiaries&#146; tax years
    <FONT style="white-space: nowrap">2007-2010</FONT>
    and the Japanese subsidiary&#146;s tax years
    <FONT style="white-space: nowrap">2007-2010</FONT>
    remain open to examination by the respective taxing
    jurisdictions.
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">10.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">LOANS
    PAYABLE, NONCURRENT</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On October&#160;27, 2010, Baidu Netcom borrowed a loan from the
    Export-Import Bank of China to finance some of its
    government-sponsored research projects, at the annual interest
    rate of 5.60%, with respect to which the government will provide
    a cash subsidy at the amount that approximates the interest of
    the loan. The commitment of the unsecured bank loan amounts to
    RMB140.00&#160;million (US$21.21&#160;million) and can be
    borrowed from time to time within 3&#160;years. As of
    December&#160;31, 2010, Baidu Netcom borrowed
    RMB86.00&#160;million (US$13.03&#160;million) under the
    commitment. The loan will be repaid according to the following
    schedule from July&#160;30, 2012. Baidu Netcom has the right to
    repay and may terminate the loan upon a notice in advance.
</DIV>
<!-- XBRL,dn,"Long Term Loans Payable Principal Amounts Due At Maturity Dates" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="83%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Principal Amount</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Due Date</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    July&#160;30, 2012
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,485
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    October&#160;30, 2012
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,485
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    January&#160;30, 2013
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,485
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    April&#160;30, 2013
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    17,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,575
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    86,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    13,030
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">11.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">EMPLOYEE
    DEFINED CONTRIBUTION PLAN</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Full time employees of the Group in the PRC participate in a
    government mandated multi-employer defined contribution plan
    pursuant to which certain pension benefits, medical care,
    unemployment insurance, employee housing fund and other welfare
    benefits are provided to employees. Chinese labor regulations
    require that the Group make contributions to the government for
    these benefits based on certain percentages of the
    employees&#146; salaries. The Company has no legal obligation
    for the benefits beyond the contributions. The total amounts for
    such employee benefits, which were expensed as incurred, were
    RMB98.18&#160;million, RMB141.84&#160;million and
    RMB218.88&#160;million (US$33.16&#160;million) for the years
    ended December&#160;31, 2008, 2009 and 2010, respectively.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-31
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->
<!-- XBRL,n -->
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">12.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">COMMITMENTS
    AND CONTINGENCIES</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Capital
    commitments</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company&#146;s capital commitments relate primarily to
    expenditures on computer equipment and the consideration in
    relation to a business combination that will be closed in 2011.
    Total capital commitments contracted but not yet reflected in
    the financial statements amounted to RMB168.40&#160;million
    (US$25.52&#160;million) at December&#160;31, 2010. All of these
    capital commitments are to be fulfilled within the next year.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Operating
    lease commitments</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company leases facilities in the PRC under non-cancelable
    operating leases expiring on different dates. Payments under
    operating leases are expensed on a straight-line basis over the
    periods of the respective leases. Total rental expense under all
    operating leases was RMB68.86&#160;million,
    RMB84.43&#160;million and RMB76.87&#160;million
    (US$11.65&#160;million) for the years ended December&#160;31,
    2008, 2009 and 2010, respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Future minimum payments under non-cancelable operating leases
    with initial terms of one-year or more consist of the following
    at December&#160;31, 2010:
</DIV>
<!-- XBRL,dn,"Operating Leases Of Lessee Disclosure" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="81%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2011
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    259,927
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    39,383
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2012
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    171,275
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,951
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2013
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    151,748
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    22,992
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2014
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    111,659
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,918
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2015
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    75,457
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    11,433
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Thereafter
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    79,749
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    12,083
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    849,815
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    128,760
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Guarantees</FONT></I></B>
</DIV>
<!-- XBRL,dnap,"Schedule Of Guarantee Obligations" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company accounts for guarantees in accordance with ASC
    subtopic
    <FONT style="white-space: nowrap">460-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">460-10&#148;),</FONT>
    <I>Guarantees: Overall</I>. Accordingly, the Company evaluates
    its guarantees to determine whether (a)&#160;the guarantee is
    specifically excluded from the scope of
    <FONT style="white-space: nowrap">ASC&#160;460-10,</FONT>
    (b)&#160;the guarantee is subject to
    <FONT style="white-space: nowrap">ASC&#160;460-10</FONT>
    disclosure requirements only, but not subject to the initial
    recognition and measurement provisions, or (c)&#160;the
    guarantee is required to be recorded in the financial statements
    at fair value.
</DIV>
<!-- /XBRL,dnap -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The corporate by-laws require that the Company indemnify its
    officers and directors, as well as those who act as directors
    and officers of other entities at the Company&#146;s request,
    against expenses, judgments, fines, settlements and other
    amounts actually and reasonably incurred in connection with any
    proceedings arising out of their services to the Company. In
    addition, the Company has entered into separate indemnification
    agreements with each director and each executive officer of the
    Company that provide for indemnification of these directors and
    officers under similar circumstances and under additional
    circumstances. The indemnification obligations are more fully
    described in the by-laws and the indemnification agreements. The
    Company purchases standard directors and officers insurance to
    cover claims or a portion of the claims made against its
    directors and officers. Since a maximum obligation is not
    explicitly stated in the Company&#146;s by-laws or in the
    indemnification agreements and will depend on the facts and
    circumstances that arise out of any future claims, the overall
    maximum amount of the obligations cannot be reasonably estimated.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Historically, the Company has not been required to make payments
    related to these obligations, and the fair value for these
    obligations is zero in the consolidated balance sheets as of
    December&#160;31, 2009 and 2010.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-32
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu Online has unconditionally guaranteed the repayment of
    RMB-denominated bank loans from Export-Import Bank of China and
    related interest and fees of Baidu Netcom. The guarantees
    continue until the loans, including accrued interest and fees,
    have been repaid in full. These guarantees expire in 2012. The
    maximum exposure to the Company under this commitment is
    RMB140.00&#160;million (US$21.21&#160;million) as of
    December&#160;31, 2010 and is limited to the sum of unpaid
    principal and interest, as well as other related expenses.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Litigation</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu Netcom, Baidu China, Baidu Online and Baidu Times were
    involved in certain cases pending in various PRC courts and
    arbitration as of December&#160;31, 2010. These cases include
    copyright infringement cases, unfair competition cases, and
    defamation cases, among others. Adverse results in these
    lawsuits may include awards of damages and may also result in,
    or even compel, a change in the Company&#146;s business
    practices, which could result in a loss of revenue or otherwise
    harm the business of the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of December&#160;31, 2010, the plaintiffs claimed
    compensation of RMB132.95&#160;million (US$20.14&#160;million).
    Although the results of litigation and claims cannot be
    predicted with certainty, the Company does not expect the
    outcome of the matters discussed above will result in a material
    adverse effect on its business, consolidated financial position,
    results of operations or cash flows.
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">13.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">SHAREHOLDERS&#146;
    EQUITY</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Ordinary
    shares</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Upon completion of the Company&#146;s initial public offering
    (&#147;IPO&#148;) in August 2005, 16,648,877 Class B Ordinary
    shares were issued upon conversion of all convertible preferred
    shares. In addition, immediately following the closing of the
    IPO, the Memorandum and Articles of Association were amended and
    restated such that the authorized share capital consisted of
    870,400,000 ordinary shares at a par value of US$0.00005 per
    share, of which 825,000,000&#160;shares were designated as
    Class&#160;A ordinary shares, 35,400,000 as Class&#160;B
    ordinary shares, and 10,000,000&#160;shares designated as
    preferred shares. The rights of the holders of Class&#160;A and
    Class&#160;B ordinary shares are identical, except with respect
    to voting and conversion rights. Each share of Class&#160;A
    ordinary shares is entitled to one vote per share and is not
    convertible into Class&#160;B ordinary shares under any
    circumstances. Each share of Class&#160;B ordinary shares is
    entitled to ten votes per share and is convertible into one
    Class&#160;A ordinary share at any time by the holder thereof.
    Upon any transfer of Class&#160;B ordinary shares by the holder
    thereof to any person or entity that is not an affiliate of such
    holder, such Class&#160;B ordinary shares would be automatically
    converted into an equal number of Class&#160;A ordinary shares.
    There were 122,856, 419,654 and 650,000 Class&#160;B ordinary
    shares transferred to Class&#160;A ordinary shares in 2008, 2009
    and 2010, respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of December&#160;31, 2010 there were 27,045,340 and 7,804,332
    Class&#160;A and Class&#160;B ordinary shares outstanding,
    respectively. As of December&#160;31, 2009 and 2010, there were
    no preferred shares issued and outstanding.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Comprehensive
    Income</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Comprehensive income is defined as the change in equity of the
    Company during a period from transactions and other events and
    circumstances excluding transactions resulting from investments
    by owners and distributions to owners. Comprehensive income is
    reported in the consolidated statements of shareholders&#146;
    equity. Accumulated other comprehensive income (loss) of the
    Company consists of foreign currency translation adjustments.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Retained
    earnings</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In accordance with the Regulations on Enterprises with Foreign
    Investment of China and their articles of association, the
    Company&#146;s PRC subsidiaries, being foreign invested
    enterprises established in China, are required to make
    appropriations to certain statutory reserves, namely a general
    reserve fund, an enterprise expansion fund, a
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-33
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    staff welfare fund and a bonus fund, all of which are
    appropriated from net profit as reported in their PRC statutory
    accounts. Each of the Company&#146;s subsidiaries is required to
    allocate at least 10% of its after-tax profits to a general
    reserve fund until such fund has reached 50% of its respective
    registered capital. Appropriations to the enterprise expansion
    fund and staff welfare and bonus funds are at the discretion of
    the board of directors of the Company&#146;s subsidiaries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In accordance with the China Company Laws, the Company&#146;s
    VIEs must make appropriations from their after-tax profits as
    reported in their PRC statutory accounts to non-distributable
    reserve funds, namely a statutory surplus fund, a statutory
    public welfare fund and a discretionary surplus fund. Each of
    the Company&#146;s VIEs is required to allocate at least 10% of
    its after-tax profits to the statutory surplus fund until such
    fund has reached 50% of its respective registered capital.
    Appropriation to the statutory public welfare fund is 5% to 10%
    of the after-tax profits as reported in the PRC statutory
    accounts. Effective from January&#160;1, 2006, under the revised
    China Company Laws, appropriation to the statutory public
    welfare fund is no longer mandatory. Appropriations to the
    discretionary surplus fund are made at the discretion of the
    Company&#146;s VIEs.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    General reserve and statutory surplus funds are restricted to
    set-off against losses, expansion of production and operation
    and increasing registered capital of the respective company.
    Staff welfare and bonus fund and statutory public welfare funds
    are restricted to capital expenditures for the collective
    welfare of employees. The reserves are not allowed to be
    transferred to the Company in terms of cash dividends, loans or
    advances, nor are they allowed for distribution except under
    liquidation.
</DIV>
<!-- XBRL,dn,"Retained Earnings Accumulated Deficit" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="65%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    PRC statutory reserve funds
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    187,675
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    238,107
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    36,077
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Unreserved retained earnings
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,252,854
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,727,590
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,019,332
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,440,529
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,965,697
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,055,409
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under PRC laws and regulations, there are restrictions on the
    Company&#146;s PRC subsidiaries and VIEs with respect to
    transferring certain of their net assets to the Company either
    in the form of dividends, loans, or advances. Amounts restricted
    include paid up capital and statutory reserve funds of the
    Company&#146;s PRC subsidiaries and the net assets of VIEs in
    which the Company has no legal ownership, totaling approximately
    RMB879.43&#160;million and RMB1.15&#160;billion
    (US$174.59&#160;million) as of December&#160;31, 2009 and 2010,
    respectively.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-34
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->
<!-- XBRL,n -->
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">14.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">EARNINGS
    PER SHARE (&#147;EPS&#148;)</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On April&#160;28, 2010, the Company announced a change in the
    ratio of its American depositary shares (&#147;ADSs&#148;)
    representing Class&#160;A ordinary shares from one ADS for one
    share to ten ADSs for one share, effective on May&#160;12, 2010.
    For Baidu&#146;s ADS holders, this ratio change has the same
    effect as
    <FONT style="white-space: nowrap">ten-for-one</FONT>
    ADS split.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth the computation of basic and
    diluted net income per share for Class A and Class&#160;B
    ordinary shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (Amounts in thousands of Renminbi (&#147;RMB&#148;), and in
    thousands of U.S.&#160;Dollars (&#147;US$&#148;), except for
    number of shares, per share and per ADS data)
</DIV>
<!-- XBRL,dn,"Earnings Per Share For Classa And Class B Ordinary Shares And Earnings Per Ads" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="36%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=09 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=09 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=09 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=09 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="30" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Years Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Class A</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Class B</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Class A</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Class B</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Class A</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Class A</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Class B</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Class B</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Earnings per share&#160;&#151; basic:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Numerator
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Allocation of undistributed earnings
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    772,330
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    275,778
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,107,191
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    377,913
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,690,712
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    407,683
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    834,456
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    126,433
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Denominator
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Weighted average ordinary shares outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,214,154
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,003,290
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,773,593
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,797,198
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,566,454
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,566,454
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,238,907
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,238,907
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Denominator used for earnings per share
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,214,154
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,003,290
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,773,593
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,797,198
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,566,454
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,566,454
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,238,907
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,238,907
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Earnings per share&#160;&#151; basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30.63
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30.63
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42.96
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42.96
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    101.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.35
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    101.28
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.35
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Earnings per share&#160;&#151; diluted:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Numerator
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Allocation of undistributed earnings for diluted computation
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    765,509
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    282,599
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,107,067
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    378,037
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,693,365
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    408,085
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    831,803
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    126,031
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Reallocation of undistributed earnings as a result of conversion
    of Class&#160;B to Class&#160;A shares
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    282,599
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    378,037
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    831,803
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    126,031
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Allocation of undistributed earnings
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,048,108
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    282,599
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,485,104
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    378,037
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,525,168
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    534,116
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    831,803
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    126,031
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Denominator
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Weighted average ordinary shares outstanding
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,214,154
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,003,290
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    25,773,593
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,797,198
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,566,454
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    26,566,454
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,238,907
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,238,907
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Conversion of Class&#160;B to Class&#160;A ordinary shares
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,003,290
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,797,198
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,238,907
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,238,907
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    Share-based awards
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    500,046
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    357,512
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    205,576
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    55,210
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    112,474
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    112,474
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    350
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    350
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Denominator used for earnings per share
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,717,490
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,360,802
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,776,366
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,852,408
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,917,835
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    34,917,835
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,239,257
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    8,239,257
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Earnings per share&#160;&#151; diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    30.19
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    42.70
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.96
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    100.96
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    15.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Earnings per ADS:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Denominator used for earnings per ADS&#160;&#151; basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    252,141,540
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    257,735,930
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    265,664,540
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    265,664,540
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Denominator used for earnings per ADS&#160;&#151; diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    347,174,900
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    347,763,660
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    349,178,350
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    349,178,350
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Earnings per ADS&#160;&#151; basic
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.06
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.30
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.13
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.53
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    Earnings per ADS&#160;&#151; diluted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3.02
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4.27
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10.10
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.53
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-35
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->
<!-- /XBRL,dn -->
<!-- XBRL,n -->
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">15.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">SHARE-BASED
    AWARDS PLAN</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Incentive
    Compensation Plans</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In January 2000, the Company adopted the 2000 Option Plan (the
    &#147;2000 Plan&#148;). The 2000 Plan provided for the granting
    of share options and restricted ordinary shares to employees and
    consultants of the Company. All the options granted to Company
    employees and consultants under the 2000 Plan were nonqualified
    share options (&#147;NSO&#148;). The Company reserved 5,040,000
    ordinary shares for issuance under the 2000 Plan. Under the 2000
    Plan, which has expired during 2010, options granted generally
    vest 25% after the first year of service and ratably each month
    over the remaining
    <FONT style="white-space: nowrap">36-month</FONT>
    period.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2008, the Company amended the 2000 Plan by adding a
    new section regarding adjustment of exercise price. The exercise
    price per share subject to an option might be amended or
    adjusted in the absolute discretion of the 2000 Plan
    administrator, which was the Board of Directors, and the
    determination of which should be final, binding and conclusive.
    A downward adjustment of the exercise prices should be effective
    without the approval of the Company&#146;s shareholders or the
    approval of the affected grantees.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In December 2008, the Company adopted a share incentive plan
    (the &#147;2008 Plan&#148;). The 2008 Plan provides for the
    granting of share incentives, which include incentive share
    option (&#147;ISO&#148;), restricted shares and any other form
    of award pursuant to the 2008 Plan, to members of the board,
    employees and consultants of the Company. However, the Company
    may grant ISOs only to its employees. The Company has reserved
    3,428,777 ordinary shares for issuance under the 2008 Plan,
    which will expire in the year 2018. The vesting schedule, time
    and condition to exercise options will be determined by the
    compensation committee. The term of the options may not exceed
    ten years from the date of the grant, except that five years is
    the maximum term of an ISO granted to an employee who holds more
    than 10% of the voting power of the Company&#146;s share capital.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the 2008 Plan, the exercise price per share subject to an
    option may be amended or adjusted at the discretion of the
    compensation committee, the determination of which shall be
    final, binding and conclusive. To the extent not prohibited by
    applicable laws or exchange rules, a downward adjustment of the
    exercise prices shall be effective without the approval of the
    Company&#146;s shareholders or the approval of the affected
    grantees. If the Company grants an ISO to an employee who, at
    the time of that grant, owns shares representing more than 10%
    of the voting power of all classes of the Company&#146;s share
    capital, the exercise price cannot be less than 110% of the fair
    market value of the Company&#146;s ordinary shares on the date
    of that grant.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Starting from February&#160;15, 2006, the Company has granted
    restricted Class&#160;A ordinary shares (&#147;Restricted
    Shares&#148;) of the Company. Terms for Restricted Shares are
    the same as share options except that Restricted Shares do not
    require exercise and have a two to four years vesting term.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-36
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table summarizes the option activity for the year
    ended December&#160;31, 2010:
</DIV>
<!-- XBRL,dn,"Employee Share Option Awards Outstanding" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="52%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="10%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Weighted<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Average<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Aggregate<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Weighted<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Remaining<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Intrinsic<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Number of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Average<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Contractual<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Value (US$)<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Share Option</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Exercise Price</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Life (Years)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Outstanding, December&#160;31, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    154,674
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    US$110.80
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.56
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    46,469
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Granted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    23,729
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    US$610.08
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Exercised
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (59,068
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    US$92.00
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Forfeited/Cancelled
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (19,175
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    US$133.49
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Expired
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (985
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    US$17.95
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Outstanding, December&#160;31, 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    99,175
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    US$237.99
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.57
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    72,164
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vested and expected to vest at December&#160;31, 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    94,655
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    US$232.69
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2.52
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    69,375
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Exercisable at December&#160;31, 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    55,089
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    US$115.11
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1.4
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    46,836
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The aggregate intrinsic value in the table above represents the
    difference between the Company&#146;s closing stock price on the
    last trading day in 2010 and the exercise price.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Total intrinsic value of options exercised for the three years
    ended December&#160;31, 2008, 2009 and 2010 was
    RMB465.25&#160;million, RMB340.13&#160;million and
    RMB263.97&#160;million (US$40.00&#160;million), respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of December&#160;31, 2010, there was RMB51.32&#160;million
    (US$7.78&#160;million) unrecognized share-based compensation
    cost related to share options. That deferred cost is expected to
    be recognized over a weighted-average vesting period of
    2.90&#160;years. To the extent the actual forfeiture rate is
    different from original estimate, actual share-based
    compensation costs related to these awards may be different from
    the expectation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On February&#160;11, 2009, the Company cancelled options
    previously granted to certain executives with the exercise price
    significantly higher than the fair market value at that time,
    and concurrently re-granted the same number of options at the
    then current fair market value. The vesting of the replacement
    option starts from the date of grant, and all other terms remain
    the same as the original option. The cancellation and re-grant
    was intended to provide incentives for these executives. In
    accordance with
    <FONT style="white-space: nowrap">ASC&#160;718-10,</FONT>
    the Company accounted for the cancellation of an award
    accompanied by the concurrent grant of a replacement award as a
    modification of the terms of the cancelled award. Therefore,
    incremental compensation cost was measured as the excess of the
    fair value of the replacement award over the fair value of the
    cancelled award at the cancellation date. The incremental cost
    resulting from the cancellation and replacement was
    US$0.60&#160;million. The cost is being amortized on a
    straight-line basis over the vesting term of four years of the
    replacement option.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Restricted
    Shares</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Restricted shares activity for the year ended December&#160;31,
    2010 was as follows:
</DIV>
<!-- XBRL,dn,"Employee Restricted Share Awards Nonvested" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="77%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Weighted<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Average<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Number of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Grant Date<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Restricted Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fair Value</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Nonvested, December&#160;31, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    47,694
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    US$
</TD>
<TD nowrap align="right" valign="bottom">
    224.34
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Granted
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    44,390
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    US$
</TD>
<TD nowrap align="right" valign="bottom">
    701.15
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vested
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (37,312
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    US$
</TD>
<TD nowrap align="right" valign="bottom">
    220.09
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Forfeited
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    (5,155
</TD>
<TD nowrap align="left" valign="bottom">
    )
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    US$
</TD>
<TD nowrap align="right" valign="bottom">
    329.26
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Nonvested, December&#160;31, 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    49,617
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    US$
</TD>
<TD nowrap align="right" valign="bottom">
    643.22
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-37
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->
<!-- /XBRL,dn -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of December&#160;31, 2010, there was RMB162.53&#160;million
    (US$24.63&#160;million) unrecognized share-based compensation
    cost related to restricted shares. That deferred cost will be
    recognized over a weighted-average vesting period of
    2.66&#160;years. To the extent the actual forfeiture rate is
    different from the original estimate, actual share-based
    compensation costs related to these awards may be different from
    the expectation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The fair value of each option award was estimated on the date of
    grant using the Black-Scholes Method valuation model. The
    volatility assumption was estimated based on implied volatility
    and historical volatility of the Company&#146;s share price
    applying the guidance provided by ASC subtopic
    <FONT style="white-space: nowrap">718-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">718-10&#148;),</FONT>
    <I>Compensation-Stock Compensation: Overall</I>. The Company
    considered the comparable data in 2008 because the Company had
    limited relevant historical information to support the expected
    volatility assumption as the Company has been a public company
    only since August 2005. The Company begins to estimate the
    volatility assumption solely based on its historical information
    since 2009. Assumptions about the expected term were based on
    the vesting and contractual terms and employee demographics. The
    risk-free rate for periods within the contractual life of the
    option is based on the U.S.&#160;Treasury yield curve in effect
    at the time of grant.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table presents the assumptions used to estimate
    the fair values of the share options granted in the periods
    presented:
</DIV>
<!-- XBRL,dn,"Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="53%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="16%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="7%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="16%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Risk-free interest rate
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    1.74%<FONT style="font-family: Symbol; font-variant: normal">&#126;</FONT>2.60%
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    1.18%
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0.61%<FONT style="font-family: Symbol; font-variant: normal">&#126;</FONT>1.13%
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Dividend yield
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    &#151;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Expected volatility range
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    63.52%<FONT style="font-family: Symbol; font-variant: normal">&#126;</FONT>70.82%
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    85.43%
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    64.76%<FONT style="font-family: Symbol; font-variant: normal">&#126;</FONT>69.70%
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Weighted average expected volatility
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    66.54%
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    85.43%
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    68.12%
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Expected life (in years)
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    1.63<FONT style="font-family: Symbol; font-variant: normal">&#126;</FONT>2.64
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    2.65
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    2.65<FONT style="font-family: Symbol; font-variant: normal">&#126;</FONT>2.66
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, the Company recognizes share-based compensation
    expense net of an estimated forfeiture rate and therefore only
    recognizes compensation cost for those shares expected to vest
    over the service period of the award. The estimation of the
    forfeiture rate is based primarily upon historical experience of
    employee turnover. To the extent the Company revises this
    estimate in the future, the share-based payments could be
    materially impacted in the year of revision, as well as in
    following years. During the year ended December&#160;31, 2010,
    the estimated forfeiture rate decreased for the employee group
    primarily due to changes in historical employee turnover rates.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The exercise price of options granted during the years 2008,
    2009, and 2010 equaled the market price of the ordinary shares
    on the grant date. The weighted-average grant-date fair value of
    options granted during the years 2008, 2009, and 2010 was
    US$136.97, US$94.10, and US$279.69, respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The total fair value of shares vested during the years ended
    December&#160;31, 2008, 2009 and 2010 was RMB37.57&#160;million,
    RMB201.83&#160;million, RMB237.71&#160;million
    (US$36.02&#160;million), respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Total compensation cost recognized is as follows:
</DIV>
<!-- XBRL,dn,"Schedule Of Employee Service Share Based Compensation Allocation Of Recognized Period Costs" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="65%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Years Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Cost of revenues
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,542
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,374
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,302
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    955
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Selling, general and administrative
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41,651
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38,681
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    36,811
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,577
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Research and development
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    37,784
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    41,263
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    50,623
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,670
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Share-based compensation cost capitalized as part of internally
    used software in fixed assets
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,706
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,217
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    226
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    86,683
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    87,535
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    93,962
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    14,237
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-38
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->
<!-- /XBRL,dn -->
<!-- XBRL,n -->
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">16.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">RELATED
    PARTY TRANSACTIONS</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The amounts due from related parties mainly represent payments
    due from advertising services provided and borrowings provided
    by the Company to its equity investees. The amounts due from
    equity investees are unsecured and repayable on contract terms,
    which arose in the ordinary course of business.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The amounts due to related parties represent unsecured and
    interest free short-term loans provided by the Company&#146;s
    equity investees, which arose in the ordinary course of business.
</DIV>
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">17.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">SEGMENT
    REPORTING</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In accordance with ASC subtopic
    <FONT style="white-space: nowrap">280-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">280-10&#148;),</FONT>
    <I>Segment Reporting: Overall</I>, the Company&#146;s chief
    operating officer relies upon consolidated results of operations
    when making decisions about allocating resources and assessing
    performance of the Company; hence, the Company has only one
    single operating segment. The Company does not distinguish
    between markets or segments for the purpose of internal
    reporting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company&#146;s revenue and long-lived assets are primarily
    derived from and located in the PRC. The Company has only
    minimal operations in Japan and other countries.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth revenues by geographic area:
</DIV>
<!-- XBRL,dn,"Revenues By Geographic Area" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="53%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>For the Years Ended December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2008</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="14" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Revenues:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    PRC
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,194,635
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,441,580
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,898,805
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,196,789
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Non-PRC
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,617
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,196
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,269
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,465
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,198,252
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,447,776
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    7,915,074
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,199,254
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth long-lived assets by geographic
    area:
</DIV>
<!-- XBRL,dn,"Long Lived Assets By Geographic Area" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="67%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>December&#160;31,</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2009</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>RMB</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>US$</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" align="center" valign="bottom">
    <B>(In thousands)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Long-lived assets:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    PRC
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,093,681
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,785,511
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    270,532
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Non-PRC
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    49,720
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    45,872
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    6,950
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,143,401
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,831,383
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    277,482
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<!-- XBRL,n -->
<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">18.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">FAIR
    VALUE MEASUREMENT</FONT></B>
</TD>
</TR>

</TABLE>
<!-- XBRL,body -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    ASC subtopic
    <FONT style="white-space: nowrap">820-10</FONT>
    (&#147;ASC
    <FONT style="white-space: nowrap">820-10&#148;),</FONT>
    <I>Fair Value Measurements and Disclosures: Overall,</I>
    establishes a three-tier fair value hierarchy, which prioritizes
    the inputs used in measuring fair value as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Level&#160;1</I>&#160;&#151; Observable inputs that reflect
    quoted prices (unadjusted) for identical assets or liabilities
    in active markets
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Level&#160;2</I>&#160;&#151; Include other inputs that are
    directly or indirectly observable in the marketplace
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Level&#160;3</I>&#160;&#151; Unobservable inputs which are
    supported by little or no market activity
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    ASC <FONT style="white-space: nowrap">820-10</FONT>
    describes three main approaches to measuring the fair value of
    assets and liabilities: (1)&#160;market approach;
    (2)&#160;income approach and (3)&#160;cost approach. The market
    approach uses prices and other relevant
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-39
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    information generated from market transactions involving
    identical or comparable assets or liabilities. The income
    approach uses valuation techniques to convert future amounts to
    a single present value amount. The measurement is based on the
    value indicated by current market expectations about those
    future amounts. The cost approach is based on the amount that
    would currently be required to replace an asset.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Assets
    and liabilities measured at fair value on a recurring
    basis</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In accordance with
    <FONT style="white-space: nowrap">ASC&#160;820-10,</FONT>
    the Company measures cash equivalents and debt and equity
    securities, including
    <FONT style="white-space: nowrap">held-to-maturity,</FONT>
    trading and
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    securities, at fair value. Cash equivalents are valued using
    quoted market prices. The Company&#146;s
    <FONT style="white-space: nowrap">held-to-maturity</FONT>
    securities, including fixed-rate investments and adjustable-rate
    investments, are stated at amortized cost with the fair value
    determined based on the discounted cash flow model using the
    discount curve of market interest rates. The Company&#146;s
    short-term
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    securities were recorded at fair value based on quoted market
    prices. The Company&#146;s long-term
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    securities were initially recognized at the market price. The
    fair value on December&#160;31, 2010 was determined by using the
    income approach based on inputs that are unobservable in the
    market.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In May 2010, the Company acquired a long-term investment in
    6DXchange Inc., which is classified as an
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    security. As there was no readily determinable fair value for
    the investment in 6DXchange Inc., the Company estimated its fair
    value as of December&#160;31, 2010 using an income approach by
    considering cash flow forecasts, discount rate, actual and
    projected operational performance and certain market data
    related to the business of 6DXchange Inc. As of
    December&#160;31, 2010, the fair value of long-term investments
    in available-for sale securities approximates the cost of the
    investment of US$3.79&#160;million. There has been no impairment
    charge of this long-term
    <FONT style="white-space: nowrap">available-for-sale</FONT>
    security during the year ended December&#160;31, 2010.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Assets measured at fair value on a recurring basis are
    summarized below (in thousands):
</DIV>
<!-- XBRL,dn,"Fair Value Assets Measured On Recurring Basis" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="34%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="12%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fair Value Measurement at December&#160;31, 2009 Using</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Quoted Prices in<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Significant Other<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Significant<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Active Markets for<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Observable<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Unobservable<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Identical Assets<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Inputs<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Inputs<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Total Fair Value at<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(Level 1)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(Level 2)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(Level 3)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>December&#160;31, 2009</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(RMB)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(RMB)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(RMB)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(RMB)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(US$)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Cash equivalents:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Time deposits
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,658,678
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,658,678
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    251,315
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Money market fund
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    234,782
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    234,782
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    35,573
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Short-term investments:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="white-space: nowrap">Held-to-maturity</FONT>
    securities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Fixed-rate investments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    381,503
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    381,503
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    57,803
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,893,460
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    381,503
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,274,963
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    344,691
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    F-40
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL -->
<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak End -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="34%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="12%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="10" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fair Value Measurement at December&#160;31, 2010 Using</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Quoted Prices in<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Significant Other<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Significant<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Active Markets for<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Observable<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Unobservable<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Identical Assets<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Inputs<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Inputs<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Total Fair Value at<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(Level 1)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(Level 2)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(Level 3)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>December&#160;31, 2010</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(RMB)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(RMB)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(RMB)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(RMB)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(US$)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Cash equivalents:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Time deposits
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,905,479
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,905,479
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    591,739
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Money market fund
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    993,047
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    993,047
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    150,461
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Short-term investments:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="white-space: nowrap">Held-to-maturity</FONT>
    securities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Fixed-rate investments
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    375,234
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    375,234
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    56,854
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Long-term investments</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    <FONT style="white-space: nowrap">Available-for-sale</FONT>
    securities
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,814
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,814
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,760
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,898,526
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    375,234
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,814
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,298,574
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    802,814
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- /XBRL,dn -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table presents a reconciliation for the
    Company&#146;s assets measured and recorded at fair value on a
    recurring basis, using significant unobservable inputs
    (Level&#160;3)&#160;for the year ended December&#160;31, 2010
    (in&#160;thousands):
</DIV>
<!-- XBRL,dn,"Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation" -->
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="84%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Significant Unobservable Inputs <BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(Level 3)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(RMB)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(US$)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balance at December&#160;31, 2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Purchases
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,814
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,760
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Change in unrealized gain (loss) included in other comprehensive
    income
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD style="border-top: 1px solid #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Balance at December&#160;31, 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,814
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,760
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="font-size: 1pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
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&nbsp;
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<TD>
&nbsp;
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<TD>
&nbsp;
</TD>
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&nbsp;
</TD>
<TD style="border-top: 3px double #000000">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
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<DIV align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><I><FONT style="font-family: 'Times New Roman', Times">Assets
    and liabilities measured at fair value on a nonrecurring
    basis</FONT></I></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Company measures certain financial assets, including equity
    method investments and cost method investments, at fair value on
    a nonrecurring basis only if an impairment charge were to be
    recognized. The Company&#146;s non-financial assets, such as
    intangible assets, goodwill and fixed assets, would be measured
    at fair value only if they were determined to be
    <FONT style="white-space: nowrap">other-than-temporarily</FONT>
    impaired.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For the year ended December&#160;31, 2010, the Company
    recognized an impairment loss on fixed assets, with a charge to
    earnings, based on the fair value measurement
    (Level&#160;3)&#160;on a non-recurring basis. The fair value was
    determined using a discounted cash flow model under income
    approach based on future revenues and operating costs, using
    internal projections. The impairment charge amounted to
    RMB12.40&#160;million (US$1.88&#160;million) for the year ended
    December&#160;31, 2010, which resulted from reduced use of
    certain capitalized internal-use software due to changes in
    operations.
</DIV>
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<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">19.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">SUBSEQUENT
    EVENTS</FONT></B>
</TD>
</TR>

</TABLE>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On January&#160;31, 2011, the Company entered into agreements
    with NTT DOCOMO, INC. (&#147;DCM&#148;), pursuant to which the
    parties agreed to establish a joint venture to operate mobile
    value-added telecommunications services and provide multiple
    categories of digital content. According to the agreements, DCM
    will subscribe for new ordinary shares in the new joint venture
    in two installments in 2011, with a total consideration of
    US$22.50&#160;million. The
</DIV>
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    F-41
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<H5 align="left" style="page-break-before:always"><A HREF="#H04360tocpage">Table of Contents</A></H5><P>

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    <B><FONT style="font-family: 'Times New Roman', Times">BAIDU,
    INC.<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTES&#160;TO
    THE CONSOLIDATED FINANCIAL
    STATEMENTS&#160;&#151;&#160;(Continued)</FONT></B>
</DIV>
<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Company and DCM will ultimately hold 80% and 20% of the equity
    interest in the new joint venture respectively, upon the
    completion of the ordinary shares subscription.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    On February&#160;28, 2011, the Company entered into agreements
    with ANJUKE INC. (&#147;ANJUKE&#148;), a company incorporated
    and existing under the laws of the Cayman Islands, pursuant to
    which the Company agreed to subscribe for 1,981,378
    series&#160;C preferred shares of ANJUKE with a total cash
    consideration of US$23.0&#160;million. The Company will hold 5%
    of equity interest in ANJUKE on an as-converted basis and
    account for the investment under the cost method upon the
    completion of the preferred shares subscription.
</DIV>
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    <BR>
    F-42
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</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.25
<SEQUENCE>2
<FILENAME>h04360dexv4w25.htm
<DESCRIPTION>EX-4.25
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w25</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit
    4.25</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">EXCLUSIVE
    TECHNOLOGY CONSULTING AND SERVICES AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Exclusive Technology Consulting Services Agreement (this
    &#147;Agreement&#148;) is entered into in Beijing, PRC on
    June&#160;23, 2006 between the following two parties:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="18%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="80%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    12/F., Ideal International Plaza, No. 58 North-West 4th Ring,
    Haidian District, Beijing, PRC, 100080
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <B>Beijing Perusal Technology Co., Ltd.</B> (the
    &#147;Company&#148;)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    No. 402, 18 Danling Street, Haidian District, Beijing, PRC,
    100080
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A is a wholly foreign-owned enterprise duly
    incorporated under the laws of the People&#146;s Republic of
    China (the &#147;PRC&#148;), which has the technology expertise
    and practical experience in the development and design of
    computer software, and also has rich experience and a team of
    professionals specializing in information technology and
    services;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B is a limited liability company duly incorporated
    in Beijing, PRC, which is licensed by Beijing Communications
    Administration to carry out the business of value-added
    telecommunication services such as Internet information services
    and Beijing Administration for Industry and Commerce to carry
    out the business of online advertising;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party A has been providing exclusive technology
    consulting and related services to Party B and Party B has
    agreed to accept such services. Both parties wish to sign a
    written agreement to stipulate their respective rights and
    obligations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE, </B>both parties, through negotiations, agree
    as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Exclusive Technology Consulting and Services; Sole and
    Exclusive Interests
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1&#160;During the term of this Agreement, Party A agrees, as
    the exclusive technology consulting and services provider of
    Party B, to provide the exclusive technology consulting and
    services to Party B in accordance with the terms and conditions
    of this Agreement (the content of such services is specified in
    Appendix&#160;1 hereto).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2&#160;Party B agrees to accept the exclusive technology
    consulting and services provided by Party A and further agrees
    that, during the term of this Agreement, Party B shall not
    accept such technology consulting and services for the aforesaid
    business from another party without the prior written consent of
    Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Calculation, Payment and Guarantee of the Fees for the
    Technology Consulting and Services (the &#147;Fee&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1&#160;Both parties agree to calculate and pay the Fee under
    this Agreement in accordance with the methods listed on
    Appendix&#160;2 hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2&#160;Party B&#146;s shareholders shall pledge the equity
    interests of Party B to Party A for securing the Fee payable by
    Party B pursuant to this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Intellectual Property Rights
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.1&#160;Party A shall be the sole owner of the copyrights of
    the software designed by Party A and other relevant software,
    any intellectual property obtained through the research and
    development by Party A and any derivative rights arising from
    the performance of this Agreement
    <FONT style="white-space: nowrap">and/or</FONT> any
    other agreement reached by both parties, including, but not
    limited to, patent application rights, copyrights or other
    intellectual property rights of the software, technical
    documents and materials and the rights to license or transfer
    such intellectual property, etc.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2&#160;During the performance of this Agreement, if Party B
    needs to use Party A&#146;s software programs or systems, both
    parties shall sign a separate agreement setting forth the scope,
    method and fee of such license.
</DIV>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Representations and Warranties
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1&#160;Party A hereby represents and warrants as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.1&#160;Party A is a wholly foreign-owned enterprise duly
    incorporated and validly existing under PRC law;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.2&#160;The execution and performance of this Agreement by
    Party A are within its corporate power and business scope. Party
    A has taken necessary corporate actions and obtained appropriate
    authorizations, and has obtained the necessary consents or
    approvals from other third parties or government agencies. The
    execution and performance of this Agreement by Party A do not
    violate the laws and contracts binding upon or influencing Party
    A;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.3&#160;Upon execution, this Agreement will constitute a
    legal, valid and binding obligation of Party A enforceable
    against Party A in accordance with its terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2&#160;Party B hereby represents and warrants as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.1&#160;Party B is a limited liability company duly
    incorporated and validly existing under the laws of the PRC, and
    is licensed by Beijing Communications Administration to carry
    out the business of value-added telecommunication services such
    as Internet information services and Beijing Administration for
    Industry and Commerce to carry out the business of online
    advertising;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.2&#160;The execution and performance of this Agreement by
    Party B are within its corporate power and business scope. Party
    B has taken necessary corporate actions and obtained appropriate
    authorizations, and has obtained the necessary consents or
    approvals from other third parties or government agencies. The
    execution and performance of this Agreement by Party B do not
    violate the laws and contracts binding upon or influencing Party
    B;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.3&#160;Upon execution, this Agreement will constitute a
    legal, valid and binding obligation of Party B enforceable
    against Party B in accordance with its terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Confidentiality
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.1&#160;Party B agrees to take all reasonable steps to protect
    and maintain the confidentiality of the confidential data and
    information acknowledged or received by Party B through
    accepting the exclusive consulting and services from Party A
    (collectively, the &#147;Confidential Information&#148;). Party
    B shall not disclose, give or transfer any Confidential
    Information to any third party without Party A&#146;s prior
    written consent. Upon termination of this Agreement, Party B
    shall, at Party A&#146;s request, return any and all documents,
    information or software containing any of such Confidential
    Information to Party A or destroy it at its own discretion, and
    delete all of such Confidential Information from any memory
    devices, and cease to use such Confidential Information.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.2&#160;Both parties acknowledge and confirm that any oral or
    written materials exchanged pursuant to this Agreement are
    confidential. Each party shall keep confidential all such
    materials and not disclose any such materials to any third party
    without the prior written consent from the other party except in
    the following situations: (a)&#160;such materials are or will
    become known by the public (through no fault of the receiving
    party); (b)&#160;any materials as required to be disclosed by
    the applicable laws or rules of the stock exchange; or
    (c)&#160;any materials disclosed by each party to its legal or
    financial advisors relating to the transactions contemplated by
    this Agreement, and such legal or financial advisors shall
    comply with the confidentiality provisions set forth in this
    Article
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Any disclosure of confidential information by the
    personnel of any party or by the institutions engaged by such
    party shall be deemed as a disclosure by such party, and such
    party shall be liable for the breach under this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.3&#160;Both parties agree that this Article&#160;5 shall
    survive the invalidity, cancellation, termination or
    unenforceability of this Agreement.
</DIV>
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    <BR>
    2
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Indemnity
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party B shall indemnify and hold harmless Party A from and
    against any losses, damages, liabilities or expenses arising
    from any litigation, claims or other request against Party A,
    which arises from or is caused by the content of consulting and
    services required by Party B.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Effective Date and Term
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1&#160;This Agreement shall be signed and take effect as of
    the date first set forth above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.2&#160;The term of this Agreement is ten (10)&#160;years
    unless terminated earlier as set forth herein or in accordance
    with the terms set forth in other agreements entered into by
    both parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.3&#160;This Agreement may be extended with the written consent
    of both parties at its expiration, and the extended term shall
    be determined by both parties through negotiation. If both
    parties fail to reach any agreement on such extension, this
    Agreement shall be extended for one (1)&#160;year automatically
    at its expiration (including any expiration of extended term)
    unless Party A informs Party B of its decision not to extend
    this Agreement with a written notice before the expiration date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.4&#160;If the duration of operation (including any extension
    thereof) of either party is expired or terminated for other
    reasons within the term set forth in Sections&#160;7.2 and 7.3
    hereof, this Agreement shall be terminated simultaneously,
    except in the situation where such party has assigned its rights
    and obligations in accordance with Article&#160;13 hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Termination
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.1&#160;Termination upon Expiration
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall be terminated on its expiration date unless
    it is extended in accordance with the provisions hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.2&#160;Early Termination
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    During the term of this Agreement, Party B shall not terminate
    this Agreement unless Party A engages in acts of gross
    negligence, fraud, other illegal acts or becomes bankrupt.
    Notwithstanding the foregoing provisions, Party A may terminate
    this Agreement at any time with a written notice to Party B
    given thirty (30)&#160;days in advance. During the term of this
    Agreement, if Party B breaches this Agreement and has not cured
    its breach within fourteen (14)&#160;days upon receipt of Party
    A&#146;s written notice of such breach, Party A may inform Party
    B with a written notice of the termination of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.3&#160;Survival
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The rights and obligations to both parties under
    Articles&#160;5, 10 and 12 shall continue to be effective upon
    the termination of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Governing Law
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The performance, interpretation and enforcement of this
    Agreement shall be governed by the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Dispute Resolution
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any dispute arising in connection with the interpretation and
    performance of the provisions of this Agreement shall be
    resolved by the parties in good faith through negotiations. In
    case no resolution can be reached by the parties within thirty
    (30)&#160;days after either party makes a request for a dispute
    resolution through negotiations, either party may refer such
    dispute to the China International Economic and Trade
    Arbitration Commission (the &#147;CIETAC&#148;) for arbitration
    in accordance with CIETAC&#146;s arbitration rules then in
    effect. The seat of arbitration shall be in Beijing, and the
    language of the proceedings shall be Chinese. The arbitral award
    shall be final and binding upon both parties.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    3
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;Force Majeure
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.1&#160;Force Majeure, which includes but not limited to acts
    of governments, acts of nature, fires, explosions, typhoons,
    floods, earthquakes, tides, lightning or war, means any
    unforeseen event that is beyond the party&#146;s reasonable
    control and cannot be prevented with reasonable care of the
    affected party. However, any insufficiency of creditworthiness,
    capital or financing shall not be regarded as an event beyond
    the party&#146;s reasonable control. The party affected by Force
    Majeure and seeks for the exemption from performing the
    obligations under this Agreement shall inform the other party of
    such exemption and any action taken by it for performing this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.2&#160;In the event that the affected party is delayed in or
    prevented from performing its obligations under this Agreement
    by Force Majeure, and only to the extent of such delay or
    prevention, the affected party shall not be liable for the
    obligations under this Agreement. The affected party shall take
    appropriate measures to minimize or remove the effects of Force
    Majeure and attempt to resume the performance of the obligations
    delayed or prevented by the event of Force Majeure. Once the
    event of Force Majeure is removed, both parties agree to resume
    the performance of this Agreement using their best efforts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Notices
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notices or other communications required to be given by any
    party pursuant to this Agreement shall be written in English and
    Chinese and delivered personally or sent by registered mail or
    postage prepaid mail or by a recognized courier service or by
    facsimile transmission to the address of each relevant party or
    both parties set forth below or such other address or addressees
    as specified by such party from time to time. The date when the
    notice is deemed to be duly served shall be determined as
    follows: (a)&#160;a notice delivered personally is deemed duly
    served upon delivery; (b)&#160;a notice sent by mail is deemed
    duly served the tenth (10th) day after the date when the postage
    prepaid registered airmail was sent out (as is shown on the
    postmark), or the fourth (4th) day after the delivery date to
    the internationally-recognized courier service agency; and
    (c)&#160;a notice sent by facsimile transmission is deemed duly
    served upon the receipt time as is shown on the transmission
    confirmation for relevant documents.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="89%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Address: 12/F, Ideal Intl. Plaza, No. 58&#160;West-North
    4th&#160;Ring, Beijing PRC, 100080
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Attn: Zhansheng Wang
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Fax: 86 10 8260-7009
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Tel: 86 10 8262-1188
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Perusal Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Address: No. 402, 18 Danling Street, Haidian District, Beijing,
    PRC, 100080
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Attn:
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Fax: 86 10 8260-7008
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Tel: 86 10 8262-1188
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;Assignment
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.1&#160;Party B shall not assign its rights or obligations
    under this Agreement to any third party without the prior
    written consent of Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.2&#160;Party B hereby agrees that Party A may assign its
    rights and obligations under this Agreement as Party A deems
    necessary and such transfer shall only be subject to a written
    notice sent to Party B by Party A, without further consent from
    Party B required.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Entire Agreement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Both parties confirm that once this Agreement becomes effective,
    it shall constitute the entire agreement of both parties hereto
    with respect to the subject matters hereof and supersede all
    prior oral
    <FONT style="white-space: nowrap">and/or</FONT>
    written agreements and understandings by the parties with
    respect to the subject matters hereof.
</DIV>
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    <BR>
    4
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;Severability
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If any provision of this Agreement is judged to be invalid or
    unenforceable because it is inconsistent with applicable laws,
    such invalidity or unenforceability shall be only with respect
    to such laws, and the validity, legality and enforceability of
    the other provisions hereof shall not be affected.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;Amendment or Supplement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any amendment or supplement to this Agreement shall be made by
    the parties in writing. The amendments or supplements duly
    executed by each party shall form an integral part of this
    Agreement and shall have the same legal effect as this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    17.&#160;Counterparts
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall be executed in two originals, with each
    party holding one original. All originals shall have the same
    legal effect.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    5
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS WHEREOF, </B>each party hereto have caused this
    Agreement to be duly executed by its legal representative or a
    duly authorized representative on its behalf as of the date
    first set forth above.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A:&#160;Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="33%"></TD>
    <TD width="67%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal or Authorized Representative:&#160;</TD>
    <TD align="left">
    /s/ [manual signature]
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal:&#160;&#160;[Baidu Online Network Technology (Beijing) Co.,
    Ltd. seal]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B:&#160;Beijing Perusal Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="33%"></TD>
    <TD width="67%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal or Authorized Representative:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Jiping
    Liu</DIV><BR>
    <DIV style="font-size: 1pt; margin-left: 0%; width: 35%;  align: left; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Beijing Perusal Technology Co., Ltd. seal]
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Pledgee:&#160;Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="33%"></TD>
    <TD width="67%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal or Authorized Representative:&#160;</TD>
    <TD align="left">
    /s/ [manual signature]
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Pledgor:&#160;LIU Jiping</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signatures:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Jiping
    Liu</DIV>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Beijing Perusal Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="33%"></TD>
    <TD width="67%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal or Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Jiping
    Liu</DIV>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Beijing Perusal Technology Co., Ltd. seal]
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    7
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Pledgee:&#160;Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Legal or Authorized Representative:&#160;/s/ [manual signature]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Pledgor:&#160;ZHANG Yazhu</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signatures:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yazhu
    Zhang</DIV>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Beijing Perusal Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="33%"></TD>
    <TD width="67%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal or Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Jiping
    Liu</DIV>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Beijing Perusal Technology Co., Ltd. seal]
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    8
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Appendix&#160;1</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Content
    of Technology Consulting and Services</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Server maintenance and supporting services for network
    platform management;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Development, renewal and update of server application
    software, and application of www.skycn.com, related domain name
    (including skycn.net) and other website owned and operated by
    Party B;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Development, renewal and update of application software
    for online user;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="white-space: nowrap">4.&#160;E-commerce</FONT>
    technical service, including but not limited to services for
    design of
    <FONT style="white-space: nowrap">e-commerce</FONT>
    platform and maintenance;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Provide Party B advertising design, software design,
    webpage creation and other technical services for its
    advertising business, and provide management consulting advices;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Training for technical and professional staff;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Provide labor supporting as Party B&#146;s request,
    including but not limited to lending or dispatching related
    staff (Party B shall burden the expenses for such staff);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Other services agreed by both parties.
</DIV>
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<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Appendix&#160;2</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Calculation
    and Payment of the Fee for the Technology Consulting and
    Services</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Calculation
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Monthly fee = standard monthly fee for page view per thousand
    times &#215; actual times of page view for current
    month&#160;/&#160;1000
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Standard monthly fee for page view per thousand times = basic
    fee for advertising per thousand times &#215; actual times of
    page view for current month&#160;/&#160;(lowest times for
    everyday page view &#215; actual dates of current month)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    From second year on, standard shall be adjusted each quarter.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Payment
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1&#160;Party A shall adjust lowest times for everyday page
    view according to actual operations of Party B, and adjust the
    monthly fee accordingly. Party B shall, at Party A&#146;s
    request, provide related data and materials. Party A have the
    rights to exam or verify such materials and data.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2&#160;For each transaction conducted on
    <FONT style="white-space: nowrap">e-commerce</FONT>
    platform of Party B, Party B shall pay Party A
    <FONT style="white-space: nowrap">e-commerce</FONT>
    service fee. Service fee shall be negotiated and determined by
    both parties according to services of Party A and the market.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.26
<SEQUENCE>3
<FILENAME>h04360dexv4w26.htm
<DESCRIPTION>EX-4.26
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w26</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.26</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Operating
    Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Operating Agreement (this &#147;Agreement&#148;) is entered
    into among the following parties in Beijing, PRC as of
    June&#160;23, 2006:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="5%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="86%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Baidu Online Network Technology (Beijing) Co., Ltd.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    12/F., Ideal International Plaza, No. 58 North-West
    4th&#160;Ring, Haidian District, Beijing, PRC, 100080
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Beijing Perusal Technology Co., Ltd.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No. 402, 18 Danling Street, Haidian District, Beijing, PRC,
    100080
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Jiping Liu
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>ID No.:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    440301196306305512
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party D:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Yazhu Zhang
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>ID No.:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    140102196607194865
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A is a wholly foreign-owned enterprise duly
    incorporated and validly existing under the laws of the
    People&#146;s Republic of China (the &#147;PRC&#148;), which has
    the technology expertise and practical experience in the
    development and design of computer software, and also has rich
    experience and a team of professionals specializing in
    information technology and service;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B is a limited liability company duly incorporated
    and validly existing under PRC law, which is licensed by Beijing
    Communications Administration to carry out the business of
    value-added telecommunication services such as Internet
    information services and Beijing Administration for Industry and
    Commerce to carry out the business of online advertising;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party C and Party D are shareholders of Party B, in
    which Party C owns<B> </B>80<B> </B>% and Party D owns<B>
    </B>20<B> </B>% of the equity interest;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Party A has established a business relationship with
    Party B by entering into an Exclusive Technology Consulting and
    Services Agreement ( the &#147;Services Agreement&#148;) , a Web
    Layout Copyright License Agreement, a Trademark License
    Agreement and a Domain Name License Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Pursuant to the above-mentioned agreements between Party
    A and Party B, Party B shall pay certain sums of money to Party
    A. However, no account payable under those agreements has been
    paid, and the daily operations of Party B will have a material
    effect on Party B&#146;s ability to pay such account payable to
    Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE, </B>through negotiations, all parties to this
    Agreement hereby agree as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A agrees, subject to the satisfaction of the
    relevant provisions herein by Party B, to be the guarantor of
    Party B in the contracts, agreements or transactions entered
    into between Party B and any third party in connection with
    Party B&#146;s business and operations, to provide full
    guarantees for the performance of such contracts, agreements or
    transactions by Party B. As counter-guarantee, Party B agrees to
    pledge the accounts receivable in its operations and all of its
    assets to Party A. According to the aforesaid guarantee
    arrangement, Party A, when necessary, is willing to enter into
    written guarantee contracts with Party B&#146;s counterparties
    to assume the guarantor&#146;s liabilities. Party B, Party C and
    Party D shall take all necessary actions (including, but not
    limited to, executing the relevant documents and filing the
    relevant registrations) to carry out the counter-guarantee
    arrangement with Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;In consideration of the requirements of Article&#160;1
    hereof and to ensure the performance of the various business
    agreements between Party A and Party B and the payment by Party
    B of the amounts payable to Party A thereunder, Party B,
    together with its shareholders Party C and Party D, hereby
    jointly agree that, without Party A&#146;s prior written
    consent, Party B shall not engage in any transaction that may
    materially affect its assets, liabilities, rights or operations
    (except that Party B may, in the ordinary course of its
    business, enter into business contracts or
</DIV>
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<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    agreements, sell or purchase assets and create liens in favor of
    relevant counter parties as required by law.), including, but
    not limited to, the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1&#160;To borrow money from any third party or assume any debt;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2&#160;To sell to or acquire from any third party any asset or
    rights, including, but not limited to, any intellectual property
    rights;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3&#160;To provide guarantee for any third party using its
    assets or intellectual property rights as collaterals;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.4&#160;To assign to any third party its business contracts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;In order to ensure the performance of the various
    business agreements between Party A and Party B and the payment
    by Party B of the amounts payable to Party A thereunder, Party
    B, together with its shareholders Party C and Party D, hereby
    jointly agree to accept advices and guidance provided by Party A
    from time to time relating to its corporate policies on matters
    such as employment and dismissal of employees, daily operations
    and management, and financial management.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Party B, together with its shareholders Party C and
    Party D, hereby jointly agree that Party C and Party D shall
    appoint candidates recommended by Party A as directors of Party
    B, and Party B shall appoint Party A&#146;s senior executive
    officers recommended by Party A as its president, chief
    financial officer and other senior executive officers. If any of
    the above-mentioned senior executive officers of Party A leaves
    Party A, whether voluntarily or as a result of dismissal by
    Party A, he or she shall also lose
    <FONT style="white-space: nowrap">his/her</FONT>
    right to hold any position at Party B, and Party B shall appoint
    other senior executive officers of Party A recommended by Party
    A to fill such a position. The persons recommended by Party A in
    accordance with this Article&#160;4 shall comply with the legal
    requirements regarding the qualifications of directors,
    presidents, chief financial officers, and other senior executive
    officers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Party B, together with its shareholders Party C and
    Party D, hereby jointly agree and confirm that Party B shall
    first seek a guarantee from Party A if Party B needs any
    guarantee for its performance of any of its contracts or for any
    borrowing for working capital purposes in the course of its
    operations. In such cases, Party A shall have the right, but not
    the obligation, to provide the appropriate guarantee to Party B
    at Party A&#146;s sole discretion. If Party A decides not to
    provide such a guarantee, Party A shall immediately issue a
    written notice to Party B and Party B may seek a guarantee from
    third parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;In the event that any of the agreements between Party A
    and Party B terminates or expires, Party A shall have the right,
    but not the obligation, to terminate all agreements between
    Party A and Party B including, but not limited to, the Services
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Any amendment or supplement to this Agreement shall be
    made in writing. The amendment or supplement duly executed by
    all parties shall form an integral part of this Agreement and
    shall have the same legal effect as this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Should any provision of this Agreement be held invalid
    or unenforceable because of inconsistency with applicable laws,
    such provision shall be invalid or unenforceable only to the
    extent of such applicable laws without affecting the validity or
    enforceability of the remainder of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Party B shall not assign its rights and obligations
    under this Agreement to any third party without the prior
    written consent of Party A. Party B hereby agrees that Party A
    may assign its rights and obligations under this Agreement as
    Party A sees fit, in which case Party A only needs to give a
    written notice to Party B and no further consent of Party Bs is
    required.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Each party acknowledges and confirms that any oral or
    written materials exchanged pursuant to this Agreement are
    confidential. Each party shall keep confidential all such
    materials and not disclose any such materials to any third party
    without the prior written consent from the other party except in
    the following situations: (a)&#160;such materials are or will
    become known by the public (through no fault of the receiving
    party); (b)&#160;any materials as required to be disclosed by
    the applicable laws or rules of the stock exchange; or
    (c)&#160;any materials disclosed by each party to its legal or
    financial advisors relating to the transactions contemplated by
    this Agreement, and such legal or financial advisors shall
    comply with the confidentiality provisions set forth in this
    Article&#160;10. Any
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    disclosure of confidential information by the personnel of any
    party or by the institutions engaged by such party shall be
    deemed as a disclosure by such party, and such party shall be
    liable for the breach under this Agreement. This Article&#160;10
    shall survive the invalidity, cancellation, termination or
    unenforceability of this Agreement for any reason.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;This Agreement shall be governed by and interpreted in
    accordance with the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Any dispute arising in connection with the
    interpretation and performance of the provisions of this
    Agreement shall be resolved by the parties in good faith through
    negotiations. In case no resolution can be reached by the
    parties through negotiations, either party may refer such
    dispute to the China International Economic and Trade
    Arbitration Commission (the &#147;CIETAC&#148;) for arbitration
    in accordance with CIETAC&#146;s arbitration rules then in
    effect. The seat of arbitration shall be in Beijing, and the
    language of the proceedings shall be Chinese. The arbitral award
    shall be final and binding upon both of the Parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;This Agreement shall be executed by a duly authorized
    representative of each party and become effective as of the date
    first written above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Notwithstanding Article&#160;13 hereof, once effective,
    this Agreement shall constitute the entire agreement of the
    parties hereto with respect to the subject matters hereof and
    supersede all prior oral
    <FONT style="white-space: nowrap">and/or</FONT>
    written agreements and understandings by the parties with
    respect to the subject matters hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;The term of this Agreement is ten (10)&#160;years
    unless terminated earlier in accordance with the provisions of
    this Agreement or related agreements entered into by the
    parties. This Agreement may be extended only with the written
    consent of Party A before its expiration. The term of the
    extension shall be decided by the parties through negotiation.
    If the duration of operation (including any extension thereof)
    of Party A or Party B is expired or terminated for other reasons
    within the aforesaid term of this Agreement, this Agreement
    shall be terminated simultaneously, unless such party has
    already assigned its rights and obligations hereunder in
    accordance with Article&#160;9 hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;This Agreement will terminate on the expiration date
    unless it is renewed in accordance with the relevant provision
    herein. During the term of this Agreement, Party B shall not
    terminate this Agreement. Notwithstanding the above stipulation,
    Party A shall have the right to terminate this Agreement at any
    time by issuing a thirty (30)&#160;days&#146; prior written
    notice to Party B.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    17.&#160;This Agreement shall be executed in four originals,
    with each party holding one original. All originals shall have
    the same legal effect.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    3
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS THEREOF, </B>each party hereto has caused this
    Agreement to be duly executed by himself/herself or a duly
    authorized representative on its behalf as of the date first
    written above.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A:&#160;Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="26%"></TD>
    <TD width="74%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    <B>Authorized Representative:</B>&#160;</TD>
    <TD align="left">
    /s/ [manual signature]
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal:&#160;&#160;[Baidu Online Network Technology (Beijing) Co.,
    Ltd. seal]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B:&#160;Beijing Perusal Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="24%"></TD>
    <TD width="76%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Authorized Representative:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Jiping
    Liu</DIV><BR>
    <DIV style="font-size: 1pt; margin-left: 0%; width: 34%;  align: left; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal:&#160;&#160;[Beijing Perusal Technology Co., Ltd.]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party C:&#160;Jiping Liu</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Jiping
    Liu</DIV><BR>
    <DIV style="font-size: 1pt; margin-left: 0%; width: 29%;  align: left; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party D:&#160;Yazhu Zhang</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    <B>Signature:&#160;</B></TD>
    <TD valign="bottom" align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yazhu
    Zhang<B></B></DIV><B><BR>
    </B><DIV style="font-size: 1pt; margin-left: 0%; width: 29%;  align: left; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>

</TABLE>
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    <BR>
    4
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">
    Exhibit&#160;4.26</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Supplementary
    Agreement to the<BR>
    Operating Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="5%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="86%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Baidu Online Network Technology (Beijing) Co., Ltd.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    12/F., Ideal International Plaza, No. 58 North-West
    4th&#160;Ring, Haidian District,<BR>
    Beijing
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Beijing Perusal Technology Co., Ltd.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    A2 2/F, Building 17, Zhongguancun Software Park, 8 DongbeiWang
    Xilu, Haidian District, Beijing
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    LIU Jiping
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    ID No.
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    440301196306305512
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party D:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    ZHANG Yazhu
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    ID No.
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    140102196607194865
</TD>
</TR>
<TR valign="bottom">
<TD colspan="3" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    (Collectively, the &#147;Parties&#148;)
</DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS</B>, Party A, Party B, Party C and Party D have made
    a certain Operating Agreement dated June&#160;23, 2006 (the
    &#147;Original Agreement&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE, </B>the Parties agree through friendly
    negotiation to amend the Original Agreement as follows on
    April&#160;22, 2010:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;The Parties agree to amend Section&#160;5 of the
    Original Agreement as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The original term which reads:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;Party B, together with its shareholder Party C, hereby
    jointly agree and confirm that Party B shall first seek a
    guarantee from Party A if Party B needs any guarantee for its
    performance of any of its contracts or for any borrowing for
    working capital purposes in the course of its operations. In
    such cases, Party A shall have the right, but not the
    obligation, to provide the appropriate guarantee to Party B at
    Party A&#146;s sole discretion. If Party A decides not to
    provide such a guarantee, Party A shall immediately issue a
    written notice to Party B and Party B may seek a guarantee from
    third parties.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Is amended as:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;Party B, together with its shareholder Party C, hereby
    jointly agree and confirm that Party B shall first seek a
    guarantee from Party A if Party B needs any guarantee for its
    performance of any of its contracts or for any borrowing for
    working capital purposes in the course of its operations. In
    such cases, Party A shall have the obligation to provide
    appropriate guarantee to Party B at Party A&#146;s sole
    discretion.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;This Agreement is an integral part of this Agreement. If
    there is any consistency between this Agreement and the Original
    Agreement, this Agreement shall prevail. Any matter that is not
    provided under this Agreement shall be governed by the Original
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;This Agreement is made in four counterparts with each
    Party holding one copy. Each copy has the same legal effect and
    will be effective upon signature and affixture of seals by the
    Parties.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">
    Exhibit&#160;4.26</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="8%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    <B>Party A:&#160;</B></TD>
    <TD align="left">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Legal
    representative/authorized representative</DIV><BR>
    <DIV style="font-size: 1pt; margin-left: 0%; width: 54%;  align: left; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (seal of Baidu Online Network Technology (Beijing) Co., Ltd.)
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: Beijing Perusal Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Legal
    representative/authorized representative</DIV><BR>
    <DIV style="font-size: 1pt; margin-left: 0%; width: 54%;  align: left; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (seal of Beijing Perusal Technology Co., Ltd.)
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party C:&#160;LIU Jiping</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    <B>By&#160;</B></TD>
    <TD valign="bottom" align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;LIU
    Jiping<B></B></DIV><B><BR>
    </B><DIV style="font-size: 1pt; margin-left: 0%; width: 54%;  align: left; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party D: ZHANG Yazhu</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    <B>By&#160;</B></TD>
    <TD valign="bottom" align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;ZHANG
    Yazhu<B></B></DIV><B><BR>
    </B><DIV style="font-size: 1pt; margin-left: 0%; width: 54%;  align: left; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>

</TABLE>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.27
<SEQUENCE>4
<FILENAME>h04360dexv4w27.htm
<DESCRIPTION>EX-4.27
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w27</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 3%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.27</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Webpage
    Layout Copyright License Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Web Layout Copyright License Agreement (this
    &#147;Agreement&#148;) is entered into as of <B>[Date]</B>, 2006
    between the following two parties in Beijing, PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="19%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="79%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>The Licensor:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    12/F., Ideal International Plaza, No. 58 North-West 4th Ring,
    Haidian District, Beijing, PRC, 100080
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>The Licensee:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Perusal Technology Co., Ltd.  (the
    &#147;Company&#148;)</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No. 402, 18 Danling Street, Haidian District, Beijing, PRC,
    100080
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;The Licensor, a wholly foreign-owned enterprise
    registered in Beijing under the laws of the People&#146;s
    Republic of China (the &#147;PRC&#148;), owns the web layout
    copyright of the following websites: www.ttplayer.com (relevant
    connect domain name including ttplayer.net.cn) (the
    &#147;Copyright&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;The Licensee, a company registered in Beijing, PRC under
    the laws of the PRC, is licensed by Beijing Communications
    Administration to carry out the business of value-added
    telecommunication services such as Internet information services
    and operates www.ttplayer.com (the &#147;Websites&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;The Licensor agrees to license the right to use the
    Copyright to the Licensee in accordance with the terms and
    conditions set forth herein and the Licensee agrees to accept
    the license on the terms and conditions set forth herein.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE</B>, the parties, upon negotiations, agree as
    follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Granting of License
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1&#160;The Web Layout Copyright
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1.1&#160;Upon the terms and conditions hereinafter set forth,
    the Licensor hereby grants to the Licensee and the Licensee
    hereby accepts the right to use the Copyright in the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1.2&#160;The Licensor shall have the sole and exclusive
    ownership of the Copyright, including all improvements, updates,
    derivative products and intellectual property rights thereof,
    whether such improvements, updates, derivative products and
    intellectual property rights are made by the Licensor or the
    Licensee. The rights and obligations under this paragraph shall
    survive the termination of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2&#160;Scope
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2.1&#160;The right to use the Copyright granted by the
    Licensor to the Licensee is effective only for the business
    operation of the Websites by the Licensee. The Licensee agrees
    that it will not use, or authorize any use, directly or
    indirectly, of the Copyright on any other website or media,
    unless otherwise provided for in this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2.2&#160;The right to use the Copyright granted by the
    Licensor to the Licensee is effective only in the PRC (not
    include Hong Kong, Macau and Taiwan). The Licensee agrees not to
    use or authorize any use of the Copyright, directly or
    indirectly, in any other region.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2.3&#160;The Licensor shall not license a third party to use
    the Copyright without the consent of the Licensee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Terms of Payment
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Licensee agrees to pay the Licensor license fees in the
    amounts and the manner as set forth in Appendix&#160;1.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Intellectual Property and Confidentiality
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.1&#160;The Licensee shall use its reasonable effort to protect
    and maintain the confidentiality of any and all data and
    information from the Licensor marked as or known by the Licensee
    to be confidential (collectively, the &#147;Confidential
    Information&#148;). Upon termination of this Agreement, the
    Licensee shall return any Confidential Information to the
    Licensor or destroy it itself, delete any Confidential
    Information from any electronic devices and cease to use such
    Confidential Information as required by the Licensor. The
    Licensee shall not disclose, grant or transfer any Confidential
    Information to any third party without the Licensor&#146;s
    written consent.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2&#160;Both parties agree that this Article&#160;4 shall
    survive the invalidity, amendment, cancellation, termination or
    unenforceability of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Representations and Warranties
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1&#160;The Licensor represents and warrants as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.1&#160;It is a wholly foreign-owned enterprise duly
    registered in Beijing, PRC and validly existing under the laws
    of the PRC;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.2&#160;It has the exclusive ownership of the Copyright.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.3&#160;The execution and performance of this Agreement by it
    are within its corporate power and business scope. It has taken
    all necessary actions and obtained all necessary consents or
    approvals by third parties or government agencies. The execution
    and performance of this Agreement by it do not violate the laws
    and contracts binding upon or influencing it;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.4&#160;Upon execution, this Agreement will constitute a
    legal, valid and binding obligation of the Licensor enforceable
    against the Licensor in accordance with its terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2&#160;The Licensee represents and warrants as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.1&#160;It is a company duly registered in Beijing, PRC and
    validly existing under the laws of the PRC and is licensed by
    Beijing Communications Administration to engage in the business
    of Internet information services;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.2&#160;The execution and performance of this Agreement by it
    are within its corporate power and business scope. It has taken
    all necessary actions and obtained all necessary consents or
    approvals by third parties or government agencies. The execution
    and performance of this Agreement by it do not violate the laws
    and contracts binding upon or influencing it;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.3&#160;Upon execution, this Agreement will constitute a
    legal, valid and binding obligation of the Licensee enforceable
    against the Licensee in accordance with its terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Licensor&#146;s Ownership and Protection of
    Licensor&#146;s Rights
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.1&#160;The Licensor agrees, during the term of this Agreement
    and thereafter, not challenge the ownership and other rights of
    the Copyright by the Licensor, the effectiveness of this
    Agreement or conduct any other action that is deemed by the
    Licensor as harmful to its ownership, other rights and license
    of the Copyright.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.2&#160;The Licensee agrees to provide necessary assistance to
    the Licensor to protect the licensor&#146;s rights with respect
    to the Copyrights. In the event that third parties make claims
    with respect to the Copyright, the Licensor may, at its
    discretion, respond to such claim in its own name, in the name
    of the Licensee or in the name of both the Licensor and the
    Licensee. If any third party infringes upon the Copyright, the
    Licensee shall notify the Licensor immediately in writing of
    such infringement of which the Licensee has knowledge, and only
    the Licensor has the right to take actions against such
    infringing parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.3&#160;The Licensee agrees that it shall use the Copyright
    only in accordance with this Agreement and shall not to use the
    Copyright in any manner that could be deemed by the Licensor to
    be fraudulent, misleading or otherwise harmful to the Copyright
    or the reputation of the Licensor.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Effective Date and Term
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1&#160;This Agreement shall be executed and become effective
    as of the date first set forth above. The term of this Agreement
    is five (5)&#160;years unless terminated earlier pursuant to
    this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.2&#160;This Agreement may be extended automatically for one
    year upon its expiration (including the expiration of any
    extended term) unless the Licensor prior to the expiration
    hereof gives written notice not to extend this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Termination
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1&#160;This Agreement shall terminate on the date of
    expiration or the date of the expiration of extended terms when
    the Licensor notifies the Licensee in writing not to extend this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.2&#160;Without prejudice to any legal or other rights or
    remedies of the party who asks for termination of this
    Agreement, any party has the right to terminate this Agreement
    immediately with written notice to the other party in the event
    the other party materially breaches this Agreement including but
    not limited to Article&#160;3 of this Agreement and fails to
    cure such breach within 30&#160;days from the date the breaching
    party receives the written notice of its breach from the
    non-breaching party. During the term of this Agreement, the
    Licensor may terminate this Agreement at any time by providing
    written notice to the Licensee within 30&#160;days before such
    termination.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.3&#160;Articles&#160;1.1.2, 3, 5 and 10 shall survive the
    termination or expiration of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Effect of Termination or Expiration
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Upon and after the expiration or termination of this Agreement,
    all rights granted to the Licensee hereunder shall forthwith
    revert to the Licensor, which shall be free to license the right
    to use the Copyright to others and the Licensee cease any
    further direct or indirect use of the Copyright.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Force Majeure
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.1&#160;Force Majeure, which includes but not limited to acts
    of governments, acts of nature, fires, explosions, typhoons,
    floods, earthquakes, tides, lightning or war, means any
    unforeseen event that is beyond the party&#146;s reasonable
    control and cannot be prevented with reasonable care of the
    affected party. However, any insufficiency of creditworthiness,
    capital or financing shall not be regarded as an event beyond
    the party&#146;s reasonable control. The party affected by Force
    Majeure and seeking exemption from performing the obligations
    under this Agreement shall inform the other party of such
    exemption and any action taken by it in performing this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.2&#160;In the event that the affected party is delayed in or
    prevented from performing its obligations under this Agreement
    by Force Majeure, and only to the extent such delay and
    prevention, the affected party shall not be liable for
    obligations under this Agreement. The affected party shall take
    appropriate measures to minimize or remove the effects of Force
    Majeure and attempt to resume the performance of the obligations
    that were delayed or prevented by the event of Force Majeure.
    Once the event of Force Majeure is removed, both parties agree
    to resume the performance of this Agreement using their best
    efforts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Settlement of Disputes
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any dispute arising in connection with the interpretation and
    performance of the provisions of this Agreement shall be
    resolved by the parties in good faith through negotiations. In
    case no resolution can be reached by the Parties within thirty
    (30)&#160;days after either party makes a request for a dispute
    resolution through negotiations, either party may refer such
    dispute to the China International Economic and Trade
    Arbitration Commission (the &#147;CIETAC&#148;) for arbitration
    in accordance with CIETAC&#146;s arbitration rules then in
    effect. The seat of arbitration shall be in Beijing, and the
    language of the proceedings shall be Chinese. The arbitral award
    shall be final and binding upon both parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;Notices
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notices or other communications required to be given by any
    party pursuant to this Agreement shall be written in English and
    Chinese and delivered personally or sent by registered mail or
    postage prepaid mail or by a recognized courier service or by
    facsimile transmission to the address of each relevant party or
    both parties set forth
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    3
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    below or such other address or addressees as specified by such
    party from time to time. The date when the notice is deemed to
    be duly served shall be determined as follows: (a)&#160;a notice
    delivered personally is deemed duly served upon delivery;
    (b)&#160;a notice sent by mail is deemed duly served the tenth
    (10th) day after the date when the postage prepaid registered
    airmail was sent out (as is shown on the postmark), or the
    fourth (4th) day after the delivery date to the
    internationally-recognized courier service agency; and
    (c)&#160;a notice sent by facsimile transmission is deemed duly
    served upon the receipt time as is shown on the transmission
    confirmation for relevant documents.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="12%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="86%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Licensor:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Address: 12/F, Ideal Intl. Plaza, No. 58&#160;West-North
    4th&#160;Ring, Beijing PRC, 100080
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Attn: Zhansheng Wang
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Facsimile: 86 10 8260-7009
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Tel: 86 10 8262-1188
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Licensee:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>[Name of the consolidated affiliated PRC entity]</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Address: No. 402, 18 Danling Street, Haidian District, Beijing,
    PRC, 100080
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Attn:
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Facsimile: 86 10 8260-7008
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Tel: 86 10 8262-1188
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Assignment and Sublicense
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.1&#160;The rights and obligations licensed by the Licensor to
    the Licensee pursuant to this Agreement shall not be assigned,
    pledged or sublicensed without the prior written consent of the
    Licensor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.2&#160;The Licensee hereby agrees that the Licensor may
    transfer the rights and obligations under this Agreement to any
    third party at its discretion, and such transfer shall only be
    subject to a written notice to the Licensee by the Licensor, and
    no further consent from the Licensee will be required.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;Applicable Law
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The validity, performance and interpretation of this Agreement
    shall be governed by the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Amendment or Supplement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The parties may amend or supplement this Agreement by written
    agreement. The amendments or supplements to this Agreement duly
    executed by both parties shall form an integral part of this
    Agreement and shall have the same legal effect as this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;Severability
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If any provision of this Agreement is judged to be invalid or
    unenforceable because it is inconsistent with applicable laws,
    such invalidity or unenforceability shall be only with respect
    to such laws, and the validity, legality and enforceability of
    the other provisions hereof shall not be affected.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;Appendices
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Appendices to in this Agreement shall form an integral part
    of this Agreement and shall have the same legal effect as this
    Agreement.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    4
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS WHEREOF, </B>each party hereto has caused this
    Agreement to be duly executed on its behalf by its legal
    representative or a duly authorized representative as of the
    date first set forth above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Licensor: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="44%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="55%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Authorized Representative:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;&#160;&#160;&#160;&#160;&#160;Zhansheng
    Wang</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 100%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Title:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Licensee:&#160;&#160;Beijing Perusal Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="44%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="55%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Authorized Representative:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;&#160;&#160;&#160;&#160;&#160;Jiping
    Liu</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 100%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Title:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Beijing Perusal Technology Co., Ltd. seal]
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    5
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Calculation
    and Payment of the Fee for the Copyright Fees</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Licensee shall pay licensor RMB10,000/year as copyright fees.
    Licensor shall have the rights to decide whether to exempt
    copyright fees or to adjust the amount of fees in this
    Appendix&#160;1.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">
    Exhibit&#160;4.27</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Webpage
    Layout Copyright License Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Web Layout Copyright License Agreement (this
    &#147;Agreement&#148;) is entered into as of June&#160;23, 2006
    between the following two parties in Beijing, PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="15%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="5%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="80%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>The Licensor:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Baidu Online Network Technology (Beijing) Co., Ltd.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    12/F., Ideal International Plaza, No. 58 North-West 4th Ring,
    Haidian District, Beijing, PRC, 100080
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>The Licensee:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Beijing Perusal Technology Co., Ltd.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No. 402, 18 Danling Street, Haidian District, Beijing, PRC,
    100080
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">WHEREAS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;The Licensor, a wholly foreign-owned enterprise
    registered in Beijing under the laws of the People&#146;s
    Republic of China (the &#147;PRC&#148;), owns the web layout
    copyright of the following websites: www.skycn.com (relevant
    connect domain name including skycn.com, skycn.net) (the
    &#147;Copyright&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;The Licensee, a company registered in Beijing, PRC under
    the laws of the PRC, is licensed by Beijing Communications
    Administration to carry out the business of value-added
    telecommunication services such as Internet information services
    and operates www.skycn.com (the &#147;Websites&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;The Licensor agrees to license the right to use the
    Copyright to the Licensee in accordance with the terms and
    conditions set forth herein and the Licensee agrees to accept
    the license on the terms and conditions set forth herein.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE</B>, the parties, upon negotiations, agree as
    follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Granting of License
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1&#160;The Web Layout Copyright
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1.1&#160;Upon the terms and conditions hereinafter set forth,
    the Licensor hereby grants to the Licensee and the Licensee
    hereby accepts the right to use the Copyright in the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1.2&#160;The Licensor shall have the sole and exclusive
    ownership of the Copyright, including all improvements, updates,
    derivative products and intellectual property rights thereof,
    whether such improvements, updates, derivative products and
    intellectual property rights are made by the Licensor or the
    Licensee. The rights and obligations under this paragraph shall
    survive the termination of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2&#160;Scope
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2.1&#160;The right to use the Copyright granted by the
    Licensor to the Licensee is effective only for the business
    operation of the Websites by the Licensee. The Licensee agrees
    that it will not use, or authorize any use, directly or
    indirectly, of the Copyright on any other website or media,
    unless otherwise provided for in this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2.2&#160;The right to use the Copyright granted by the
    Licensor to the Licensee is effective only in the PRC (not
    include Hong Kong, Macau and Taiwan). The Licensee agrees not to
    use or authorize any use of the Copyright, directly or
    indirectly, in any other region.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2.3&#160;The Licensor shall not license a third party to use
    the Copyright without the consent of the Licensee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Terms of Payment
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Licensee agrees to pay the Licensor license fees in the
    amounts and the manner as set forth in Appendix&#160;1.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Intellectual Property and Confidentiality
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.1&#160;The Licensee shall use its reasonable effort to protect
    and maintain the confidentiality of any and all data and
    information from the Licensor marked as or known by the Licensee
    to be confidential (collectively, the
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;Confidential Information&#148;). Upon termination of this
    Agreement, the Licensee shall return any Confidential
    Information to the Licensor or destroy it itself, delete any
    Confidential Information from any electronic devices and cease
    to use such Confidential Information as required by the
    Licensor. The Licensee shall not disclose, grant or transfer any
    Confidential Information to any third party without the
    Licensor&#146;s written consent.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2&#160;Both parties agree that this Article&#160;4 shall
    survive the invalidity, amendment, cancellation, termination or
    unenforceability of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Representations and Warranties
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1&#160;The Licensor represents and warrants as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.1&#160;It is a wholly foreign-owned enterprise duly
    registered in Beijing, PRC and validly existing under the laws
    of the PRC;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.2&#160;It has the exclusive ownership of the Copyright.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.3&#160;The execution and performance of this Agreement by it
    are within its corporate power and business scope. It has taken
    all necessary actions and obtained all necessary consents or
    approvals by third parties or government agencies. The execution
    and performance of this Agreement by it do not violate the laws
    and contracts binding upon or influencing it;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.4&#160;Upon execution, this Agreement will constitute a
    legal, valid and binding obligation of the Licensor enforceable
    against the Licensor in accordance with its terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2&#160;The Licensee represents and warrants as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.1&#160;It is a company duly registered in Beijing, PRC and
    validly existing under the laws of the PRC and is licensed by
    Beijing Communications Administration Internet to engage in the
    business of information services;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.2&#160;The execution and performance of this Agreement by it
    are within its corporate power and business scope. It has taken
    all necessary actions and obtained all necessary consents or
    approvals by third parties or government agencies. The execution
    and performance of this Agreement by it do not violate the laws
    and contracts binding upon or influencing it;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.3&#160;Upon execution, this Agreement will constitute a
    legal, valid and binding obligation of the Licensee enforceable
    against the Licensee in accordance with its terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Licensor&#146;s Ownership and Protection of
    Licensor&#146;s Rights
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.1&#160;The Licensor agrees, during the term of this Agreement
    and thereafter, not challenge the ownership and other rights of
    the Copyright by the Licensor, the effectiveness of this
    Agreement or conduct any other action that is deemed by the
    Licensor as harmful to its ownership, other rights and license
    of the Copyright.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.2&#160;The Licensee agrees to provide necessary assistance to
    the Licensor to protect the licensor&#146;s rights with respect
    to the Copyrights. In the event that third parties make claims
    with respect to the Copyright, the Licensor may, at its
    discretion, respond to such claim in its own name, in the name
    of the Licensee or in the name of both the Licensor and the
    Licensee. If any third party infringes upon the Copyright, the
    Licensee shall notify the Licensor immediately in writing of
    such infringement of which the Licensee has knowledge, and only
    the Licensor has the right to take actions against such
    infringing parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.3&#160;The Licensee agrees that it shall use the Copyright
    only in accordance with this Agreement and shall not to use the
    Copyright in any manner that could be deemed by the Licensor to
    be fraudulent, misleading or otherwise harmful to the Copyright
    or the reputation of the Licensor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Effective Date and Term
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1&#160;This Agreement shall be executed and become effective
    as of the date first set forth above. The term of this Agreement
    is five (5)&#160;years unless terminated earlier pursuant to
    this Agreement.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.2&#160;This Agreement may be extended automatically for one
    year upon its expiration (including the expiration of any
    extended term) unless the Licensor prior to the expiration
    hereof gives written notice not to extend this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Termination
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1&#160;This Agreement shall terminate on the date of
    expiration or the date of the expiration of extended terms when
    the Licensor notifies the Licensee in writing not to extend this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.2&#160;Without prejudice to any legal or other rights or
    remedies of the party who asks for termination of this
    Agreement, any party has the right to terminate this Agreement
    immediately with written notice to the other party in the event
    the other party materially breaches this Agreement including but
    not limited to Article&#160;3 of this Agreement and fails to
    cure such breach within 30&#160;days from the date the breaching
    party receives the written notice of its breach from the
    non-breaching party. During the term of this Agreement, the
    Licensor may terminate this Agreement at any time by providing
    written notice to the Licensee within 30&#160;days before such
    termination.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.3&#160;Articles&#160;1.1.2, 3, 5 and 10 shall survive the
    termination or expiration of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Effect of Termination or Expiration
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Upon and after the expiration or termination of this Agreement,
    all rights granted to the Licensee hereunder shall forthwith
    revert to the Licensor, which shall be free to license the right
    to use the Copyright to others and the Licensee cease any
    further direct or indirect use of the Copyright.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Force Majeure
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.1&#160;Force Majeure, which includes but not limited to acts
    of governments, acts of nature, fires, explosions, typhoons,
    floods, earthquakes, tides, lightning or war, means any
    unforeseen event that is beyond the party&#146;s reasonable
    control and cannot be prevented with reasonable care of the
    affected party. However, any insufficiency of creditworthiness,
    capital or financing shall not be regarded as an event beyond
    the party&#146;s reasonable control. The party affected by Force
    Majeure and seeking exemption from performing the obligations
    under this Agreement shall inform the other party of such
    exemption and any action taken by it in performing this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.2&#160;In the event that the affected party is delayed in or
    prevented from performing its obligations under this Agreement
    by Force Majeure, and only to the extent such delay and
    prevention, the affected party shall not be liable for
    obligations under this Agreement. The affected party shall take
    appropriate measures to minimize or remove the effects of Force
    Majeure and attempt to resume the performance of the obligations
    that were delayed or prevented by the event of Force Majeure.
    Once the event of Force Majeure is removed, both parties agree
    to resume the performance of this Agreement using their best
    efforts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Settlement of Disputes
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any dispute arising in connection with the interpretation and
    performance of the provisions of this Agreement shall be
    resolved by the parties in good faith through negotiations. In
    case no resolution can be reached by the Parties within thirty
    (30)&#160;days after either party makes a request for a dispute
    resolution through negotiations, either party may refer such
    dispute to the China International Economic and Trade
    Arbitration Commission (the &#147;CIETAC&#148;) for arbitration
    in accordance with CIETAC&#146;s arbitration rules then in
    effect. The seat of arbitration shall be in Beijing, and the
    language of the proceedings shall be Chinese. The arbitral award
    shall be final and binding upon both parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;Notices
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notices or other communications required to be given by any
    party pursuant to this Agreement shall be written in English and
    Chinese and delivered personally or sent by registered mail or
    postage prepaid mail or by a recognized courier service or by
    facsimile transmission to the address of each relevant party or
    both parties set forth below or such other address or addressees
    as specified by such party from time to time. The date when the
    notice is deemed to be duly served shall be determined as
    follows: (a)&#160;a notice delivered personally is deemed duly
    served upon delivery; (b)&#160;a notice sent by mail is deemed
    duly served the tenth (10th) day after the date when the postage
    prepaid registered airmail was sent out (as is shown on the
    postmark), or the fourth (4th) day after the delivery date
</DIV>
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    <BR>
    3
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    to the internationally-recognized courier service agency; and
    (c)&#160;a notice sent by facsimile transmission is deemed duly
    served upon the receipt time as is shown on the transmission
    confirmation for relevant documents.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="10%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="87%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Licensor:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Baidu Online Network Technology (Beijing) Co., Ltd.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Address: 12/F, Ideal Intl. Plaza, No. 58&#160;West-North
    4th&#160;Ring, Beijing PRC, 100080
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Attn: Zhansheng Wang
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Facsimile: 86 10 8260-7009
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Tel: 86 10 8262-1188
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Licensee:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Beijing Perusal Technology Co., Ltd.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Address: No. 402, 18 Danling Street, Haidian District, Beijing,
    PRC, 100080
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Attn:
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Facsimile: 86 10 8260-7008
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Tel: 86 10 8262-1188
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Assignment and Sublicense
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.1&#160;The rights and obligations licensed by the Licensor to
    the Licensee pursuant to this Agreement shall not be assigned,
    pledged or sublicensed without the prior written consent of the
    Licensor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.2&#160;The Licensee hereby agrees that the Licensor may
    transfer the rights and obligations under this Agreement to any
    third party at its discretion, and such transfer shall only be
    subject to a written notice to the Licensee by the Licensor, and
    no further consent from the Licensee will be required.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;Applicable Law
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The validity, performance and interpretation of this Agreement
    shall be governed by the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Amendment or Supplement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The parties may amend or supplement this Agreement by written
    agreement. The amendments or supplements to this Agreement duly
    executed by both parties shall form an integral part of this
    Agreement and shall have the same legal effect as this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;Severability
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If any provision of this Agreement is judged to be invalid or
    unenforceable because it is inconsistent with applicable laws,
    such invalidity or unenforceability shall be only with respect
    to such laws, and the validity, legality and enforceability of
    the other provisions hereof shall not be affected.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;Appendices
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Appendices to in this Agreement shall form an integral part
    of this Agreement and shall have the same legal effect as this
    Agreement.
</DIV>
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    <BR>
    4
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS WHEREOF, </B>each party hereto has caused this
    Agreement to be duly executed on its behalf by its legal
    representative or a duly authorized representative as of the
    date first set forth above.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Licensor:&#160;&#160;Baidu Online Network Technology
    (Beijing) Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="25%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Authorized Representative:&#160;</TD>
    <TD align="left">
    /s/ [manual signature]
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Title:
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal:&#160;&#160;[Baidu Online Network Technology (Beijing) Co.,
    Ltd. seal]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Licensee:&#160;&#160;Beijing Perusal Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="26%"></TD>
    <TD width="74%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    <B>Authorized Representative:&#160;</B></TD>
    <TD valign="bottom" align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Jiping
    Liu<B></B></DIV><B><BR>
    </B><DIV style="font-size: 1pt; margin-left: 0%; width: 35%;  align: left; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Title:
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal:&#160;&#160;[Beijing Perusal Technology Co., Ltd. seal]
</DIV>
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    <BR>
    5
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Appendix&#160;1</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Calculation
    and Payment of the Fee for the Copyright Fees</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Licensee shall pay licensor RMB10,000/year as copyright fees.
    Licensor shall have the rights to decide whether to exempt
    copyright fees or to adjust the amount of fees in this
    Appendix&#160;1.
</DIV>
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<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.28
<SEQUENCE>5
<FILENAME>h04360dexv4w28.htm
<DESCRIPTION>EX-4.28
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w28</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.28</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Proxy
    Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Proxy Agreement (this &#147;Agreement&#148;) is entered
    into as of June&#160;23, 2006 between the following two parties
    in Beijing, PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A:&#160;&#160;Jiping Liu</B>, a citizen of the
    People&#146;s Republic of China (the &#147;PRC&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B:&#160;&#160;Yazhu Zhang</B>, a citizen of the
    People&#146;s Republic of China (the &#147;PRC&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party C:&#160;&#160;Baidu Online Network Technology (Beijing)
    Co., Ltd.</B>, a wholly foreign-owned enterprise registered in
    Beijing, PRC under the laws of the PRC
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A and Party B jointly established Beijing Perusal
    Technology Co., Ltd. (the &#147;Company&#148;) onJune&#160;23,
    2006, in which Party A owns <U>80</U>% of the equity interests
    and Party B owns <U>20</U>% of the equity interests.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party A is willing to entrust the person designated by
    Party C with full authority to exercise his shareholder&#146;s
    voting right at the Company&#146;s shareholders&#146; meetings.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party B is willing to entrust the person designated by
    Party C with full authority to exercise her shareholder&#146;s
    voting right at the Perusal&#146;s shareholders&#146; meetings.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE, </B>the parties agree as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A hereby agrees to irrevocably entrust the person
    designated by Party C to exercise on his behalf all
    shareholder&#146;s voting rights and other shareholder&#146;s
    rights at the shareholders&#146; meeting of the Company in
    accordance with PRC law and the Company&#146;s articles of
    association, including, but not limited to, with respect to the
    sale or transfer of all or part of Party A&#146;s equity
    interests in the Company and the appointment and election of the
    directors and chairman of the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party C agrees to designate a person to accept the
    entrustment by Party A pursuant to Article 1 of this Agreement,
    and such person shall represent Party A in the exercise of Party
    A&#146;s shareholder&#146;s voting rights and other
    shareholder&#146;s rights pursuant to this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party B hereby agrees to irrevocably entrust the person
    designated by Party C to exercise on her behalf all
    shareholder&#146;s voting rights and other shareholder&#146;s
    rights at the shareholders&#146; meeting of the Perusal in
    accordance with PRC law and the Company&#146;s articles of
    association, including, but not limited to, with respect to the
    sale or transfer of all or part of Party A&#146;s equity
    interests in the Company and the appointment and election of the
    directors and chairman of the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Party C agrees to designate a person to accept the
    entrustment by Party B pursuant to Article 1 of this Agreement,
    and such person shall represent Party B in the exercise of Party
    B&#146;s shareholder&#146;s voting rights and other
    shareholder&#146;s rights pursuant to this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Party A and Party B hereby acknowledge that, regardless
    how their equity interests in the Company will change, they
    shall entrust the person designated by Party C with all of their
    shareholder&#146;s voting rights and other shareholder&#146;s
    rights. If Party A and Party B transfer their equity interests
    in the Company to any individual or company, other than
    Baidu.com, Inc., Party C, or the individuals or entities
    designated by Party C (each, a &#147;Transferee&#148;), Party A
    and Party B shall cause such Transferee to, concurrently with
    the execution of the equity transfer documents, sign an
    agreement with the same terms and conditions as this Agreement
    to entrust the person designated by Party C with the
    shareholder&#146;s voting rights and other shareholder&#146;s
    rights of the Transferee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Party A and Party B hereby acknowledge that if either
    Party A or Party B no longer hold the shares of the Company, the
    other Party shall continue to execute this Agreement.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Party A and Party B hereby acknowledge that if Party C
    withdraws the appointment of the relevant person to whom Party A
    and Party B have entrusted their shareholder&#146;s voting
    rights and other shareholder&#146;s rights, they will withdraw
    their authorization for this person and authorize other persons
    designated by Party C to exercise their shareholder&#146;s
    voting rights and other shareholder&#146;s rights at the
    shareholders&#146; meeting of the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;This Agreement shall become effective as of the date it
    is duly executed by the parties&#146; authorized representatives.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;The term of this Agreement shall be ten (10)&#160;years
    and may be extended by agreement between the parties upon the
    expiration hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Any amendment to,
    <FONT style="white-space: nowrap">and/or</FONT>
    cancellation of, this Agreement shall be agreed by the parties
    in writing.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Jiping Liu</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="24%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="75%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Signature:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;&#160;&#160;&#160;&#160;&#160;Jiping
    Liu</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 100%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Yazhu Zhang</B>
</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="24%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="75%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 9pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Signature:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;&#160;&#160;&#160;&#160;&#160;Yazhu
    Zhang</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 100%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="44%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="55%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Authorized Representative:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">&#160;&#160;&#160;&#160;&#160;Haoyu
    Shen</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 100%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="24%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="75%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Signature:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;&#160;&#160;&#160;&#160;&#160;Haoyu
    Shen</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 100%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement is agreed and accepted by:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Beijing Perusal Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="44%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="55%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Authorized Representative:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">&#160;&#160;&#160;&#160;&#160;Jiping
    Liu</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 100%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="19%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="80%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Signature:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;&#160;&#160;&#160;&#160;&#160;Jiping
    Liu</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 77%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Beijing Perusal Technology Co., Ltd. seal]
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    3
</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.29
<SEQUENCE>6
<FILENAME>h04360dexv4w29.htm
<DESCRIPTION>EX-4.29
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w29</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.29</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">EQUITY
    PLEDGE AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Equity Pledge Agreement (this &#147;Agreement&#148;) is
    entered into in Beijing, PRC on June&#160;19, 2006 by the
    following parties:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Pledgee:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A:&#160;&#160;Baidu Online Network Technology (Beijing)
    Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 10%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Legal Address: 12/F., Ideal International Plaza, No. 58
    North-West 4th&#160;Ring, Haidian District, Beijing, PRC, 100080
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Pledgor:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B:&#160;&#160;Jiping Liu</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 10%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    ID card No.: 440301196306305512
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 10%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Legal Address: No. 201, Building N, Shahebotuofeinuochun Water
    front, Nanshan District, Shenzhen, Guangdong, 518053
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS,</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A (the &#147;Pledgee&#148;), a wholly
    foreign-owned enterprise registered in Beijing, the
    People&#146;s Republic of China (the &#147;PRC&#148;), has been
    licensed by the relevant PRC government authorities to carry on
    the business of developing and manufacturing computer programs,
    providing technical consulting and services for self-made
    products, constructing computer network systems, selling
    self-made products (except for items that have not obtained
    specified approvals).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B (the &#147;Pledgor&#148;), is a citizen of the
    PRC. The Pledgor owns <U>80</U>% of the equity interest in
    Beijing Perusal Technology Co., Ltd., a limited liability
    company registered in Beijing, PRC(the &#147;Company&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party A made a loan in an amount of RMB <U>800,000</U>
    (hereinafter the &#147;Loan&#148;) to Party B and the parties
    executed a loan agreement (the &#147;Loan Agreement&#148;) on
    June&#160;19, 2006. The term of the Loan is 10&#160;years
    commencing from the execution date of the Loan Agreement. Party
    A and the Company signed an Exclusive Technology Consulting and
    Service Agreement (the &#147;Technology Agreement&#148;) on
    June&#160;23, 2006, which has a term of ten (10)&#160;years.
    Pursuant to the Technology Agreement, the Company shall pay
    Party A consulting and services fees (the &#147;Fees&#148;) for
    the technology consulting and services provided by Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;In order to ensure that Party B will perform its
    obligations under the Loan Agreement, the Pledgor agrees to
    pledge all his equity interest in the Company as security for
    the performance of his obligations under the Loan Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE, </B>the Pledgee and the Pledgor through
    friendly negotiations hereby enter into this Agreement based
    upon the following terms:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Definitions and Interpretation
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Unless otherwise provided in this Agreement, the following terms
    shall have the following meanings:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1&#160;&#147;Pledge&#148;: refers to the full content of
    Article&#160;2 hereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2&#160;&#147;Equity Interest&#148;: refers to all of the
    equity interest in the Company legally held by the Pledgor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.3&#160;&#147;Rate of Pledge&#148;: refers to the ratio between
    the value of the Pledge under this Agreement and the total
    amount of the Loan.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4&#160;&#147;Term of Pledge&#148;: refers to the period
    provided for under Article&#160;3.2 hereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.5&#160;&#147;Principal Agreement&#148;: refers to the Loan
    Agreement.
</DIV>
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.6&#160;&#147;Event of Default&#148;: refers to any event
    listed in Article&#160;7.1 hereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.7&#160;&#147;Notice of Default&#148;: refers to the notice of
    default issued by the Pledgee in accordance with this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Pledgor agrees to pledge his Equity Interest in the Company
    to the Pledgee as security for his obligations under the Loan
    Agreement. The term &#147;Pledge&#148; under this Agreement
    refers to the right of the Pledgee to be entitled to priority in
    receiving payment in the form of the Equity Interest based on
    the conversion value thereof, or from the proceeds from the
    auction or sale of the Equity Interest pledged by the Pledgor to
    the Pledgee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Rate of Pledge and Term of Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.1&#160;The rate of the Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The rate of the Pledge shall be approximately 100%.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2&#160;The term of the Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2.1&#160;The Pledge shall take effect as of the date when the
    pledge of the Equity Interest is recorded in the Register of
    Shareholders of the Company and shall remain in effect until two
    (2)&#160;years after the obligations under the Principal
    Agreement will have been fulfilled. The parties agree that, if
    situations allow, they will use their best efforts to register
    the Pledge with the Administration for Industry and Commerce at
    the place of registration of the Company. However, the parties
    confirm that the effectiveness of this Agreement is not subject
    to the registration unless the laws and regulations of the PRC
    provide otherwise.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2.2&#160;During the term of the Pledge, the Pledgee shall be
    entitled to dispose of the pledged assets in accordance with
    this Agreement in the event that the Pledgor does not perform
    his obligations under the Loan Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Physical Possession of Documents
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1&#160;During the term of the Pledge under this Agreement, the
    Pledgor shall deliver the physical possession of his Certificate
    of Capital Contribution and the Register of Shareholders of the
    Company to the Pledgee within one (1)&#160;week from the
    execution date of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2&#160;The Pledgee shall be entitled to collect the dividends
    for the Equity Interest.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.3&#160;The Pledge under this Agreement will be recorded in the
    Register of Shareholders of the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Representation and Warranty of the Pledgor
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.1&#160;The Pledgor is the legal owner of the Equity Interest
    pledged.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.2&#160;Except for the benefit of the Pledgee, the Pledgor has
    not pledged the Equity Interest or created other encumbrance on
    the Equity Interest.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Covenants of the Pledgor
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1&#160;During the effective term of this Agreement, the
    Pledgor covenants to the Pledgee for its benefit that the
    Pledgor shall:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1.1&#160;Not transfer or assign the Equity Interest, create or
    permit the existence of any other pledges which may have an
    adverse effect on the rights or benefits of the Pledgee without
    prior written consent of the Pledgee;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1.2&#160;Comply with laws and regulations with respect to the
    pledge of rights; present to the Pledgee the notices, orders or
    suggestions with respect to the Pledge issued or made by
    relevant government authorities within five (5)&#160;days upon
    receiving such notices, orders or suggestions; comply with such
    notices, orders or suggestions or, alternatively, at the
    reasonable request of the Pledgee or with consent from the
    Pledgee, raise objection to such notices, orders or suggestions;
</DIV>
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    <BR>
    2
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1.3&#160;Timely notify the Pledgee of any events or any
    notices received which may affect the Pledgor&#146;s right to
    all or any part of the Equity Interest, and any events or any
    received notices which may change the Pledgor&#146;s warranties
    and obligations under this Agreement or affect the
    Pledgor&#146;s performance of its obligations under this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.2&#160;The Pledgor agrees that the Pledgee&#146;s right to the
    Pledge obtained from this Agreement shall not be suspended or
    inhibited by any legal procedure initiated by the Pledgor or any
    successors of the Pledgor or any person authorized by the
    Pledgor or any other person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.3&#160;The Pledgor promises to the Pledgee that in order to
    protect or perfect the security for the payment of the Loan, the
    Pledgor shall execute in good faith and cause other parties who
    have interests in the Pledge to execute, all title certificates
    and contracts or to perform any other actions (and cause other
    parties who have interests to take action) as required by the
    Pledgee and make access to exercise the rights and authorization
    vested in the Pledgee under this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.4&#160;The Pledgor promises to the Pledgee that
    <FONT style="white-space: nowrap">he/she</FONT> will
    execute all amendment documents (if applicable and necessary) in
    connection with the certificate of the Equity Interest with the
    Pledgee or its designated person (being a natural person or a
    legal entity) and, within a reasonable period, provide to the
    Pledgee all notices, orders and decisions about the Pledge as
    the Pledgee deems necessary.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.5&#160;The Pledgor promises to the Pledgee that
    <FONT style="white-space: nowrap">he/she</FONT> will
    comply with and perform all the guarantees, covenants,
    warranties, representations and conditions for the benefit of
    the Pledgee. The Pledgor shall compensate the Pledgee for all
    losses suffered by the Pledgee because of the Pledgor&#146;s
    failure to perform in whole or in part its guarantees,
    covenants, warranties, representations and conditions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Event of Default
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1&#160;The following events shall be regarded as events of
    default:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.1&#160;Pledgor fails to perform his obligations under the
    Loan Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.2&#160;The Company fails to fully pay the fees on schedule
    under Exclusive Technology Consulting and Services Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.3&#160;Any representation or warranty made by the Pledgor in
    Article&#160;5 hereof contains material misleading statements or
    errors
    <FONT style="white-space: nowrap">and/or</FONT> the
    Pledgor breaches any warranty in Article&#160;5 hereof;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.4&#160;The Pledgor breaches the covenants under
    Article&#160;6 hereof;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.5&#160;The Pledgor breaches another provision of this
    Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.6&#160;The Pledgor waives the pledged Equity Interest or
    transfers or assigns the pledged Equity Interest without prior
    written consent from the Pledgee;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.7&#160;Any of the Pledgor&#146;s external loans, guaranties,
    compensations, undertakings or other obligations (1)&#160;is
    required to be repaid or performed prior to the scheduled due
    date because of a default; or (2)&#160;is due but cannot be
    repaid or performed as scheduled, causing the Pledgee to believe
    that the Pledgor&#146;s ability to perform the obligations
    hereunder has been affected;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.8&#160;The Company is incapable of repaying its general
    debts or other debts;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.9&#160;This Agreement becomes illegal or the Pledgor is not
    capable of continuing to perform the obligations hereunder due
    to any reason other than force majeure;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.10&#160;There have been adverse changes to the properties
    owned by the Pledgor, causing the Pledgee to believe that the
    capability of the Pledgor to perform the obligations hereunder
    has been affected;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.11&#160;The successor or custodian of the Company can
    performance part or refuse to performance the liability of
    payment under Exclusive Technology Consulting and Services
    Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.12&#160;The breach of the other provisions of this Agreement
    by the Pledgor due to his act or omission.
</DIV>
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    <BR>
    3
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.2&#160;The Pledgor shall immediately give a written notice to
    the Pledgee if the Pledgor knows or discovers that any event
    specified under Article&#160;7.1 hereof or any event that may
    result in the foregoing events has occurred.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.3&#160;Unless an event of default under Article&#160;7.1
    hereof has been solved to the Pledgee&#146;s satisfaction, the
    Pledgee, at any time when the event of default occurs or at
    anytime thereafter, may give a written notice of default to the
    Pledgor, requiring the Pledgor to immediately make full payment
    of the outstanding amount under the Loan Agreement or requesting
    to exercise the Pledge in accordance with Article&#160;8 hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Exercise of the Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.1&#160;The Pledgor shall not transfer or assign the Equity
    Interest without prior written approval from the Pledgee prior
    to the full performance of his obligations under the Loan
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.2&#160;The Pledgee shall give a notice of default to the
    Pledgor when the Pledgee exercises the Pledge.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.3&#160;Subject to Article&#160;7.3, the Pledgee may exercise
    the Pledge when the Pledgee gives a notice of default in
    accordance with Article&#160;7.3 or at anytime thereafter.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.4&#160;The Pledgee is entitled to priority in receiving
    payment in the form of all or part of the Equity Interest based
    on the conversion value thereof, or from the proceeds from the
    auction or sale of all or part of the Equity Interest in
    accordance with legal procedure, until the outstanding debt and
    all other payables of the Pledgor under Loan Agreement are
    repaid.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.5&#160;The Pledgor shall not hinder the Pledgee from
    exercising the Pledge in accordance with this Agreement and
    shall give necessary assistance so that the Pledgee could fully
    exercise its Pledge.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Assignment
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.1&#160;The Pledgor shall not assign or transfer its rights and
    obligations hereunder without prior consent from the Pledgee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.2&#160;This Agreement shall be binding upon the Pledgor and
    his successors and be binding on the Pledgee and each of its
    successors and permitted assigns.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.3&#160;To the extent permitted by law, the Pledgee may
    transfer or assign any or all of its rights and obligations
    under the Loan Agreement to any person (natural person or legal
    entity) designated by it at any time. In that case, the assignee
    shall have the same rights and obligations as those of the
    Pledgee as if the assignee was an original party hereto. When
    the Pledgee transfers or assigns the rights and obligations
    under the Loan Agreement, it is only required to provide a
    written notice to the Pledgor, and at the request of the
    Pledgee, the Pledgor shall execute the relevant agreements
    <FONT style="white-space: nowrap">and/or</FONT>
    documents with respect to such transfer or assignment.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.4&#160;After the Pledgee has been changed as a result of a
    transfer or an assignment, the new parties to the Pledge shall
    execute a new pledge contract.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Effectiveness and Term
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement is effective as of the date first set forth above
    and from the date when the pledge is recorded on the
    Company&#146;s Register of Shareholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;Termination
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall terminate when the loan under the Loan
    Agreement has been fully repaid and the Pledgor no longer has
    any outstanding obligations under the Loan Agreement.
    Thereafter, the Pledgee shall cancel or terminate this Agreement
    as soon as reasonably practicable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Fees and Other Charges
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.1&#160;The Pledgor shall be responsible for all of the fees
    and actual expenses in relation to this Agreement including, but
    not limited to, legal fees, production costs, stamp tax and any
    other taxes and charges. If the Pledgee pays the relevant taxes
    in accordance with the laws, the Pledgor shall fully indemnify
    the Pledgee for such taxes paid by the Pledgee.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    4
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.2&#160;In the event that the Pledgee has to make a claim
    against the Pledgor by any means as a result of the
    Pledgor&#146;s failure to pay any tax or expense payable by the
    Pledgor under this Agreement, the Pledgor shall be responsible
    for all the expenses arising from such claim (including but not
    limited to any taxes, handling fees, management fees, litigation
    fees, attorney&#146;s fees, and various insurance premiums in
    connection with the disposition of the Pledge).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;Force Majeure
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.1&#160;Force Majeure, which includes but is not limited to
    acts of governments, acts of nature, fires, explosions,
    typhoons, floods, earthquake, tides, lightning or war, refers to
    any unforeseen event that is beyond a party&#146;s reasonable
    control and cannot be prevented with reasonable care. However,
    any insufficiency of creditworthiness, capital or financing
    shall not be regarded as an event beyond a party&#146;s
    reasonable control. The affected party by Force Majeure shall
    promptly notify the other party of such event resulting in
    exemption.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.2&#160;In the event that the affected party is delayed or
    prevented from performing its obligations under this Agreement
    by Force Majeure, and only to the extent of such delay and
    prevention, the affected party shall not be liable for
    obligations under this Agreement. The affected party shall take
    appropriate measures to minimize or remove the effects of Force
    Majeure and attempt to resume performance of the obligations
    that were delayed or prevented by the event of Force Majeure.
    After the event of Force Majeure is removed, both parties agree
    to resume the performance of this Agreement using their best
    efforts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Confidentiality
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The parties to this Agreement acknowledge and confirm that all
    the oral and written materials exchanged relating to this
    Agreement are confidential. Each party must keep such materials
    confidential and can not disclose such materials to any other
    third party without the other party&#146;s prior written
    approval, unless: (a)&#160;the public knows or will know the
    materials (not due of the disclosure by the receiving party);
    (b)&#160;the disclosed materials are required by law or stock
    exchange rules to be disclosed; or (c)&#160;materials relating
    to the transactions under this Agreement are disclosed to the
    parties&#146; legal or financial advisors, who must keep them
    confidential as well. Disclosure of the confidential information
    by employees or institutions hired by the parties is deemed as
    an act by the parties, therefore, subjecting them to liability.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;Dispute Resolution
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.1&#160;This Agreement shall be governed by and construed in
    accordance with PRC law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.2&#160;The parties shall strive to settle any dispute arising
    from the interpretation or performance of this Agreement through
    friendly consultation. In case no settlement can be reached
    through consultation, each party can submit such matter to the
    China International Economic and Trade Arbitration Commission
    (&#147;CIETAC&#148;) for arbitration. The arbitration shall
    follow the current rules of CIETAC, the arbitration proceedings
    shall be conducted in Chinese and shall take place in Beijing,
    PRC. The arbitration award shall be final and binding upon the
    parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;Notice
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any notice which is given by the parties hereto for the purpose
    of performing the rights and obligations hereunder shall be in
    writing. Where such notice is delivered personally, the time of
    notice is the time when such notice actually reaches the
    addressee; where such notice is transmitted by telex or
    facsimile, the notice time is the time when such notice is
    transmitted. If such notice does not reach the addressee on a
    business day or reaches the addressee after business hours, the
    next business day following such day is the date of notice. The
    delivery place is the address first written above for each of
    the parties hereto or the address advised by such party in
    writing, including facsimile and telex, from time to time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    17.&#160;Entire Contract
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding Article&#160;10, the parties agree that this
    Agreement constitutes the entire agreement of the parties hereto
    with respect to the subject matters herein upon its
    effectiveness and supersedes and replaces all prior oral
    <FONT style="white-space: nowrap">and/or</FONT>
    written agreements and understandings relating to the subject
    matters of this Agreement.
</DIV>
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    <BR>
    5
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    18.&#160;Severability
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Should any provision of this Agreement be held invalid or
    unenforceable because of inconsistency with applicable laws,
    such provision shall be invalid or unenforceable only to the
    extent of such applicable laws without affecting the validity or
    enforceability of the remainder of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    19.&#160;Appendices
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The appendices to this Agreement shall constitute an integral
    part of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    20.&#160;Amendment or Supplement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    20.1&#160;The parties may amend or supplement this Agreement by
    written agreement. The amendments or supplements to this
    Agreement duly executed by both parties shall form an integral
    part of this Agreement and shall have the same legal effect as
    this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    20.2&#160;This Agreement and any amendments, modifications,
    supplements, additions or changes hereto shall be in writing and
    shall be effective upon being executed and sealed by the parties
    hereto.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    21.&#160;Counterparts
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement is executed in Chinese in duplicate, with each
    party hereto holding one copy. Both originals have the same
    legal effect.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    [Signature Page]
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Pledgee:&#160;&#160;Baidu Online Network Technology (Beijing)
    Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Legal Representative/Authorized
    Representative:<U>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Pledgor:&#160;&#160;Jiping Liu</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="24%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="75%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Signature:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;&#160;&#160;&#160;&#160;&#160;Jiping
    Liu</DIV><BR>
    <CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Beijing Perusal Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Legal Representative/Authorized
    Representative:<U>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Beijing Perusal Technology Co., Ltd. seal]
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    7
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.29</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">EQUITY
    PLEDGE AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Equity Pledge Agreement (this &#147;Agreement&#148;) is
    entered into in Beijing, PRC on June&#160;19, 2006 by the
    following parties:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="11%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="87%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Pledgee:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Legal Address: 12/F., Ideal International Plaza, No. 58
    North-West 4th&#160;Ring, Haidian District, Beijing, PRC, 100080
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Pledgor:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Yazhu Zhang</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    ID card No.: 140102196607194865
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Legal Address: No. 201, Building N, Shahebotuofeinuochun Water
    front, Nanshan District, Shenzhen, Guangdong, 518053
</TD>
</TR>
</TABLE>

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</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS,</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A (the &#147;Pledgee&#148;), a wholly
    foreign-owned enterprise registered in Beijing, the
    People&#146;s Republic of China (the &#147;PRC&#148;), has been
    licensed by the relevant PRC government authorities to carry on
    the business of developing and manufacturing computer programs,
    providing technical consulting and services for self-made
    products, constructing computer network systems, selling
    self-made products (except for items that have not obtained
    specified approvals).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B (the &#147;Pledgor&#148;), is a citizen of the
    PRC. The Pledgor owns <U>20</U>% of the equity interest in
    Beijing Perusal Technology Co., Ltd., a limited liability
    company registered in Beijing, PRC (the &#147;Company&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party A made a loan in an amount of RMB <U>200,000</U>
    (hereinafter the &#147;Loan&#148;) to Party B and the parties
    executed a loan agreement (the &#147;Loan Agreement&#148;) on
    June&#160;23, 2006. The term of the Loan is 10&#160;years
    commencing from the execution date of the Loan Agreement. Party
    A and the Company signed an Exclusive Technology Consulting and
    Service Agreement (the &#147;Technology Agreement&#148;) on
    June&#160;23, 2006, which has a term of ten (10)&#160;years.
    Pursuant to the Technology Agreement, the Company shall pay
    Party A consulting and services fees (the &#147;Fees&#148;) for
    the technology consulting and services provided by Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;In order to ensure that Party B will perform its
    obligations under the Loan Agreement, the Pledgor agrees to
    pledge all her equity interest in the Company as security for
    the performance of her obligations under the Loan Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE</B>, the Pledgee and the Pledgor through
    friendly negotiations hereby enter into this Agreement based
    upon the following terms:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Definitions and Interpretation
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Unless otherwise provided in this Agreement, the following terms
    shall have the following meanings:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1&#160;&#147;Pledge&#148;: refers to the full content of
    Article&#160;2 hereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2&#160;&#147;Equity Interest&#148;: refers to all of the
    equity interest in the Company legally held by the Pledgor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.3&#160;&#147;Rate of Pledge&#148;: refers to the ratio between
    the value of the Pledge under this Agreement and the total
    amount of the Loan.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4&#160;&#147;Term of Pledge&#148;: refers to the period
    provided for under Article&#160;3.2 hereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.5&#160;&#147;Principal Agreement&#148;: refers to the Loan
    Agreement.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.6&#160;&#147;Event of Default&#148;: refers to any event
    listed in Article&#160;7.1 hereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.7&#160;&#147;Notice of Default&#148;: refers to the notice of
    default issued by the Pledgee in accordance with this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Pledgor agrees to pledge her Equity Interest in the Company
    to the Pledgee as security for her obligations under the Loan
    Agreement. The term &#147;Pledge&#148; under this Agreement
    refers to the right of the Pledgee to be entitled to priority in
    receiving payment in the form of the Equity Interest based on
    the conversion value thereof, or from the proceeds from the
    auction or sale of the Equity Interest pledged by the Pledgor to
    the Pledgee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Rate of Pledge and Term of Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.1&#160;The rate of the Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The rate of the Pledge shall be approximately 100%.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2&#160;The term of the Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2.1&#160;The Pledge shall take effect as of the date when the
    pledge of the Equity Interest is recorded in the Register of
    Shareholders of the Company and shall remain in effect until two
    (2)&#160;years after the obligations under the Principal
    Agreement will have been fulfilled. The parties agree that, if
    situations allow, they will use their best efforts to register
    the Pledge with the Administration for Industry and Commerce at
    the place of registration of the Company. However, the parties
    confirm that the effectiveness of this Agreement is not subject
    to the registration unless the laws and regulations of the PRC
    provide otherwise.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2.2&#160;During the term of the Pledge, the Pledgee shall be
    entitled to dispose of the pledged assets in accordance with
    this Agreement in the event that the Pledgor does not perform
    her obligations under the Loan Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Physical Possession of Documents
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1&#160;During the term of the Pledge under this Agreement, the
    Pledgor shall deliver the physical possession of her Certificate
    of Capital Contribution and the Register of Shareholders of the
    Company to the Pledgee within one (1)&#160;week from the
    execution date of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2&#160;The Pledgee shall be entitled to collect the dividends
    for the Equity Interest.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.3&#160;The Pledge under this Agreement will be recorded in the
    Register of Shareholders of the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Representation and Warranty of the Pledgor
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.1&#160;The Pledgor is the legal owner of the Equity Interest
    pledged.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.2&#160;Except for the benefit of the Pledgee, the Pledgor has
    not pledged the Equity Interest or created other encumbrance on
    the Equity Interest.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Covenants of the Pledgor
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1&#160;During the effective term of this Agreement, the
    Pledgor covenants to the Pledgee for its benefit that the
    Pledgor shall:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1.1&#160;Not transfer or assign the Equity Interest, create or
    permit the existence of any other pledges which may have an
    adverse effect on the rights or benefits of the Pledgee without
    prior written consent of the Pledgee;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1.2&#160;Comply with laws and regulations with respect to the
    pledge of rights; present to the Pledgee the notices, orders or
    suggestions with respect to the Pledge issued or made by
    relevant government authorities within five (5)&#160;days upon
    receiving such notices, orders or suggestions; comply with such
    notices, orders or suggestions or, alternatively, at the
    reasonable request of the Pledgee or with consent from the
    Pledgee, raise objection to such notices, orders or suggestions;
</DIV>
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    <BR>
    2
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1.3&#160;Timely notify the Pledgee of any events or any
    notices received which may affect the Pledgor&#146;s right to
    all or any part of the Equity Interest, and any events or any
    received notices which may change the Pledgor&#146;s warranties
    and obligations under this Agreement or affect the
    Pledgor&#146;s performance of its obligations under this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.2&#160;The Pledgor agrees that the Pledgee&#146;s right to the
    Pledge obtained from this Agreement shall not be suspended or
    inhibited by any legal procedure initiated by the Pledgor or any
    successors of the Pledgor or any person authorized by the
    Pledgor or any other person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.3&#160;The Pledgor promises to the Pledgee that in order to
    protect or perfect the security for the payment of the Loan, the
    Pledgor shall execute in good faith and cause other parties who
    have interests in the Pledge to execute, all title certificates
    and contracts or to perform any other actions (and cause other
    parties who have interests to take action) as required by the
    Pledgee and make access to exercise the rights and authorization
    vested in the Pledgee under this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.4&#160;The Pledgor promises to the Pledgee that
    <FONT style="white-space: nowrap">he/she</FONT> will
    execute all amendment documents (if applicable and necessary) in
    connection with the certificate of the Equity Interest with the
    Pledgee or its designated person (being a natural person or a
    legal entity) and, within a reasonable period, provide to the
    Pledgee all notices, orders and decisions about the Pledge as
    the Pledgee deems necessary.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.5&#160;The Pledgor promises to the Pledgee that
    <FONT style="white-space: nowrap">he/she</FONT> will
    comply with and perform all the guarantees, covenants,
    warranties, representations and conditions for the benefit of
    the Pledgee. The Pledgor shall compensate the Pledgee for all
    losses suffered by the Pledgee because of the Pledgor&#146;s
    failure to perform in whole or in part its guarantees,
    covenants, warranties, representations and conditions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Event of Default
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1&#160;The following events shall be regarded as events of
    default:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.1&#160;Pledgor fails to perform her obligations under the
    Loan Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.2&#160;The Company fails to fully pay the fees on schedule
    under Exclusive Technology Consulting and Services Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.3&#160;Any representation or warranty made by the Pledgor in
    Article&#160;5 hereof contains material misleading statements or
    errors
    <FONT style="white-space: nowrap">and/or</FONT> the
    Pledgor breaches any warranty in Article&#160;5 hereof;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.4&#160;The Pledgor breaches the covenants under
    Article&#160;6 hereof;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.5&#160;The Pledgor breaches another provision of this
    Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.6&#160;The Pledgor waives the pledged Equity Interest or
    transfers or assigns the pledged Equity Interest without prior
    written consent from the Pledgee;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.7&#160;Any of the Pledgor&#146;s external loans, guaranties,
    compensations, undertakings or other obligations (1)&#160;is
    required to be repaid or performed prior to the scheduled due
    date because of a default; or (2)&#160;is due but cannot be
    repaid or performed as scheduled, causing the Pledgee to believe
    that the Pledgor&#146;s ability to perform the obligations
    hereunder has been affected;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.8&#160;The Company is incapable of repaying its general
    debts or other debts;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.9&#160;This Agreement becomes illegal or the Pledgor is not
    capable of continuing to perform the obligations hereunder due
    to any reason other than force majeure;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.10&#160;There have been adverse changes to the properties
    owned by the Pledgor, causing the Pledgee to believe that the
    capability of the Pledgor to perform the obligations hereunder
    has been affected;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.11&#160;The successor or custodian of the Company can
    performance part or refuse to performance the liability of
    payment under Exclusive Technology Consulting and Services
    Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.12&#160;The breach of the other provisions of this Agreement
    by the Pledgor due to her act or omission.
</DIV>
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    <BR>
    3
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    7.2&#160;The Pledgor shall immediately give a written notice to
    the Pledgee if the Pledgor knows or discovers that any event
    specified under Article&#160;7.1 hereof or any event that may
    result in the foregoing events has occurred.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.3&#160;Unless an event of default under Article&#160;7.1
    hereof has been solved to the Pledgee&#146;s satisfaction, the
    Pledgee, at any time when the event of default occurs or at
    anytime thereafter, may give a written notice of default to the
    Pledgor, requiring the Pledgor to immediately make full payment
    of the outstanding amount under the Loan Agreement or requesting
    to exercise the Pledge in accordance with Article&#160;8 hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Exercise of the Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.1&#160;The Pledgor shall not transfer or assign the Equity
    Interest without prior written approval from the Pledgee prior
    to the full performance of her obligations under the Loan
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.2&#160;The Pledgee shall give a notice of default to the
    Pledgor when the Pledgee exercises the Pledge.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.3&#160;Subject to Article&#160;7.3, the Pledgee may exercise
    the Pledge when the Pledgee gives a notice of default in
    accordance with Article&#160;7.3 or at anytime thereafter.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.4&#160;The Pledgee is entitled to priority in receiving
    payment in the form of all or part of the Equity Interest based
    on the conversion value thereof, or from the proceeds from the
    auction or sale of all or part of the Equity Interest in
    accordance with legal procedure, until the outstanding debt and
    all other payables of the Pledgor under Loan Agreement are
    repaid.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.5&#160;The Pledgor shall not hinder the Pledgee from
    exercising the Pledge in accordance with this Agreement and
    shall give necessary assistance so that the Pledgee could fully
    exercise its Pledge.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Assignment
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.1&#160;The Pledgor shall not assign or transfer its rights and
    obligations hereunder without prior consent from the Pledgee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.2&#160;This Agreement shall be binding upon the Pledgor and
    her successors and be binding on the Pledgee and each of its
    successors and permitted assigns.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.3&#160;To the extent permitted by law, the Pledgee may
    transfer or assign any or all of its rights and obligations
    under the Loan Agreement to any person (natural person or legal
    entity) designated by it at any time. In that case, the assignee
    shall have the same rights and obligations as those of the
    Pledgee as if the assignee was an original party hereto. When
    the Pledgee transfers or assigns the rights and obligations
    under the Loan Agreement, it is only required to provide a
    written notice to the Pledgor, and at the request of the
    Pledgee, the Pledgor shall execute the relevant agreements
    <FONT style="white-space: nowrap">and/or</FONT>
    documents with respect to such transfer or assignment.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.4&#160;After the Pledgee has been changed as a result of a
    transfer or an assignment, the new parties to the Pledge shall
    execute a new pledge contract.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Effectiveness and Term
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement is effective as of the date first set forth above
    and from the date when the pledge is recorded on the
    Company&#146;s Register of Shareholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;Termination
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall terminate when the loan under the Loan
    Agreement has been fully repaid and the Pledgor no longer has
    any outstanding obligations under the Loan Agreement.
    Thereafter, the Pledgee shall cancel or terminate this Agreement
    as soon as reasonably practicable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Fees and Other Charges
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.1&#160;The Pledgor shall be responsible for all of the fees
    and actual expenses in relation to this Agreement including, but
    not limited to, legal fees, production costs, stamp tax and any
    other taxes and charges. If the Pledgee pays the relevant taxes
    in accordance with the laws, the Pledgor shall fully indemnify
    the Pledgee for such taxes paid by the Pledgee.
</DIV>
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    <BR>
    4
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.2&#160;In the event that the Pledgee has to make a claim
    against the Pledgor by any means as a result of the
    Pledgor&#146;s failure to pay any tax or expense payable by the
    Pledgor under this Agreement, the Pledgor shall be responsible
    for all the expenses arising from such claim (including but not
    limited to any taxes, handling fees, management fees, litigation
    fees, attorney&#146;s fees, and various insurance premiums in
    connection with the disposition of the Pledge).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;Force Majeure
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.1&#160;Force Majeure, which includes but is not limited to
    acts of governments, acts of nature, fires, explosions,
    typhoons, floods, earthquake, tides, lightning or war, refers to
    any unforeseen event that is beyond a party&#146;s reasonable
    control and cannot be prevented with reasonable care. However,
    any insufficiency of creditworthiness, capital or financing
    shall not be regarded as an event beyond a party&#146;s
    reasonable control. The affected party by Force Majeure shall
    promptly notify the other party of such event resulting in
    exemption.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.2&#160;In the event that the affected party is delayed or
    prevented from performing its obligations under this Agreement
    by Force Majeure, and only to the extent of such delay and
    prevention, the affected party shall not be liable for
    obligations under this Agreement. The affected party shall take
    appropriate measures to minimize or remove the effects of Force
    Majeure and attempt to resume performance of the obligations
    that were delayed or prevented by the event of Force Majeure.
    After the event of Force Majeure is removed, both parties agree
    to resume the performance of this Agreement using their best
    efforts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Confidentiality
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The parties to this Agreement acknowledge and confirm that all
    the oral and written materials exchanged relating to this
    Agreement are confidential. Each party must keep such materials
    confidential and can not disclose such materials to any other
    third party without the other party&#146;s prior written
    approval, unless: (a)&#160;the public knows or will know the
    materials (not due of the disclosure by the receiving party);
    (b)&#160;the disclosed materials are required by law or stock
    exchange rules to be disclosed; or (c)&#160;materials relating
    to the transactions under this Agreement are disclosed to the
    parties&#146; legal or financial advisors, who must keep them
    confidential as well. Disclosure of the confidential information
    by employees or institutions hired by the parties is deemed as
    an act by the parties, therefore, subjecting them to liability.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;Dispute Resolution
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.1&#160;This Agreement shall be governed by and construed in
    accordance with PRC law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.2&#160;The parties shall strive to settle any dispute arising
    from the interpretation or performance of this Agreement through
    friendly consultation. In case no settlement can be reached
    through consultation, each party can submit such matter to the
    China International Economic and Trade Arbitration Commission
    (&#147;CIETAC&#148;) for arbitration. The arbitration shall
    follow the current rules of CIETAC, the arbitration proceedings
    shall be conducted in Chinese and shall take place in Beijing,
    PRC. The arbitration award shall be final and binding upon the
    parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;Notice
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any notice which is given by the parties hereto for the purpose
    of performing the rights and obligations hereunder shall be in
    writing. Where such notice is delivered personally, the time of
    notice is the time when such notice actually reaches the
    addressee; where such notice is transmitted by telex or
    facsimile, the notice time is the time when such notice is
    transmitted. If such notice does not reach the addressee on a
    business day or reaches the addressee after business hours, the
    next business day following such day is the date of notice. The
    delivery place is the address first written above for each of
    the parties hereto or the address advised by such party in
    writing, including facsimile and telex, from time to time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    17.&#160;Entire Contract
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding Article&#160;10, the parties agree that this
    Agreement constitutes the entire agreement of the parties hereto
    with respect to the subject matters herein upon its
    effectiveness and supersedes and replaces all prior oral
    <FONT style="white-space: nowrap">and/or</FONT>
    written agreements and understandings relating to the subject
    matters of this Agreement.
</DIV>
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    <BR>
    5
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    18.&#160;Severability
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Should any provision of this Agreement be held invalid or
    unenforceable because of inconsistency with applicable laws,
    such provision shall be invalid or unenforceable only to the
    extent of such applicable laws without affecting the validity or
    enforceability of the remainder of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    19.&#160;Appendices
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The appendices to this Agreement shall constitute an integral
    part of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    20.&#160;Amendment or Supplement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    20.1&#160;The parties may amend or supplement this Agreement by
    written agreement. The amendments or supplements to this
    Agreement duly executed by both parties shall form an integral
    part of this Agreement and shall have the same legal effect as
    this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    20.2&#160;This Agreement and any amendments, modifications,
    supplements, additions or changes hereto shall be in writing and
    shall be effective upon being executed and sealed by the parties
    hereto.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    21.&#160;Counterparts
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement is executed in Chinese in duplicate, with each
    party hereto holding one copy. Both originals have the same
    legal effect.
</DIV>
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    <BR>
    6
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    [Signature Page]
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Pledgee:&#160;&#160;Baidu Online Network Technology (Beijing)
    Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Legal Representative/Authorized
    Representative:<U>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Pledgor: Yazhu Zhang</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="24%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="75%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Signature:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;&#160;&#160;&#160;&#160;&#160;Yazhu
    Zhang</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 100%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Beijing Perusal Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Legal Representative/Authorized
    Representative:<U>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Beijing Perusal Technology Co., Ltd. seal]
</DIV>
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    <BR>
    7
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.30
<SEQUENCE>7
<FILENAME>h04360dexv4w30.htm
<DESCRIPTION>EX-4.30
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w30</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.30</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">EXCLUSIVE
    EQUITY PURCHASE OPTION AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Exclusive Equity Purchase Option Agreement (this
    &#147;Agreement&#148;) is entered into as of May&#160;19, 2006
    among the following parties in Beijing,PRC:
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="19%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="79%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    12/F., Ideal International Plaza, No. 58 North-West
    4th&#160;Ring, Haidian District, Beijing, PRC, 100080
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Jiping Liu</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>ID Number:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    440301196306305512
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No. 201, Building N, Shahebotuofeinuochun Water front, Nanshan
    District, Shenzhen, Guangdong, 518053
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Perusal Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No. 402, 18 Danling Street, Haidian District, Beijing, PRC,
    100080
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In this Agreement, Party A, Party B and Party C are called
    collectively as the &#147;Parties&#148; and each of them is a
    &#147;Party.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A, is a wholly foreign-owned enterprise
    incorporated under the laws of the People&#146;s Republic of
    China (the &#147;PRC&#148;), which has technology expertise and
    practical experience in computer software development and
    design, and also has rich experience and expertise in
    information technology and service;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party C, a liability limited company incorporated in the
    PRC, is licensed by licensed by Beijing Communications
    Administration to carry out the business of value-added
    telecommunication services such as Internet information services;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party B is the shareholder of Party C. Party B has
    ownership of <U>80</U>% of the equity interest in Party C (the
    &#147;Equity Interest&#148;);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Party A and Party B entered into a loan agreement (the
    &#147;Loan Agreement&#148;) on May&#160;19, 2006;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Party A and Party B entered into an equity pledge
    agreement (the &#147;Equity Pledge Agreement&#148;) on
    May&#160;19, 2006.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE</B>, the Parties upon negotiation hereby agree
    as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;<U>Purchase and Sale of Equity Interest</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1&#160;Granting of Rights
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party B (hereafter, the &#147;Transferor&#148;) hereby
    irrevocably grants to Party A an option to purchase or cause any
    one or more designated persons (&#147;Designated Persons&#148;)
    to purchase, to the extent permitted under PRC law, according to
    the steps determined by Party A, at the price specified in
    Section&#160;1.3 of this Agreement, and at any time from the
    Transferor, a portion of, or all of, the equity interests held
    by the Transferor in Party C (the &#147;Option&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No Option shall be granted to any third party other than Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons. Party C hereby agrees to the granting of the
    Option by Party B to Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons. The &#147;person&#148; set forth in this
    clause and this Agreement means an individual person,
    corporation, joint venture, partnership, enterprise, trust or a
    non-corporation organization.
</DIV>
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<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2&#160;Exercise Steps
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Subject to PRC law and regulations, Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons may exercise the Option by issuing a written
    notice (the &#147;Notice&#148;) to the Transferor, specifying
    the equity interest to be purchased from the Transferor (the
    &#147;Purchased Equity Interest&#148;) and the manner of such
    purchase.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.3&#160;Purchase Price
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.3.1&#160;If Party A exercises the Option, the purchase price
    of the Purchased Equity Interest (&#147;Purchase Price&#148;)
    shall be equal to the original paid-in capital paid by the
    Transferor for the Purchased Equity Interest, unless then
    applicable PRC laws and regulations require appraisal of the
    Purchased Equity Interest or stipulate other restrictions on the
    Purchase price.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.3.2&#160;If the applicable PRC laws require appraisal of the
    Purchased Equity Interest or stipulate other restrictions on the
    Purchase Price at the time that Party A exercises the Option,
    the Parties agree that the Purchase Price shall be set at the
    lowest price permissible under applicable law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4&#160;Transfer of the Purchased Equity Interest
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    At each exercise of the Option:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4.1&#160;The Transferor shall cause Party C to convene a
    shareholders&#146; meeting. During the meeting, resolutions
    approving the transfer of the Equity Interest from the
    Transferor to Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons shall be adopted;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4.2&#160;The Transferor shall, in accordance the terms and
    conditions of this Agreement and the Notice in connection with
    the Purchased Equity Interest, enter into an equity transfer
    agreement with Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons (as applicable) for each transfer;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4.3&#160;The related parties shall execute all other requisite
    contracts, agreements or documents, obtain all requisite
    government approvals and consents, and take all necessary
    actions to transfer the valid ownership of the Purchased Equity
    Interest to Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons free of any security interest, and cause
    Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons to be the registered owner(s) of the
    Purchased Equity Interest. In this clause and this Agreement,
    &#147;Security Interest&#148; means guaranty, mortgage, pledge,
    third-party right or interest, any share option, right of
    acquisition, right of first refusal, right of set-off,
    ownership, detainment or other security arrangements. However,
    it does not include any security interest arising under the
    Equity Pledge Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.5&#160;Payment
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The manner of payment of the Purchase Price shall be determined
    through negotiations between Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons and the Transferor according to the
    applicable laws at the time of the exercise of the Option. The
    Parties hereby agree that, subject to applicable laws,
    Transferor shall repay to Party A any amount that is paid by
    Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons to the Transferor in connection with the
    Purchased Equity Interest, as the repayment of the loan
    principal under the Loan Agreement, as well as legally permitted
    interests or capital.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;<U>Covenants Relating to the Equity Interest</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1&#160;Covenants Relating to Party C
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party B and Party C hereby covenant:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.1&#160;Not to supplement, amend or modify Party C&#146;s
    articles of association in any way, or to increase or decrease
    its registered capital, or to change its registered capital
    structure in any way without Party A&#146;s prior written
    consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.2&#160;To maintain the corporate existence of Party C and
    operate its business and deal with matters prudently and
    effectively according to good financial and business rules and
    practices;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.3&#160;Not to sell, transfer, mortgage or otherwise dispose
    of, or permit any other security interest to be created on, any
    of Party C&#146;s assets, business or legal or beneficial
    interests in its revenue at any time after the signing of this
    Agreement without Party A&#146;s prior written consent;
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.4&#160;Not to create, succeed to, guarantee or permit any
    liability, without Party A&#146;s prior written consent, except
    (i)&#160;liabilities arising from the normal course of business,
    but not arising from loans; and (ii)&#160;liabilities disclosed
    to Party A and approved by Party A in writing;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.5&#160;To operate persistently all the business in the
    normal course of business to maintain the value of Party
    C&#146;s assets, and not to commit any act or omission that
    would affect its operations and asset value;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.6&#160;Without prior written consent by Party A, not to
    enter into any material agreement, other than agreements entered
    into in Party C&#146;s normal course of business (for purpose of
    this paragraph, an agreement will be deemed material if its
    value exceeds RMB 100,000);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.7&#160;Not to provide loans or credit to any person without
    Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.8&#160;To provide all information relating to Party C&#146;s
    operations and financial conditions upon the request of Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.9&#160;To purchase and maintain insurance from insurance
    companies accepted by Party A. The amount and category of the
    insurance shall the same as those of the insurance normally
    procured by companies engaged in similar businesses and
    possessing similar properties or assets in the area where Party
    C is located;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.10&#160;Not to merge or consolidate with, or acquire or
    invest in, any person without Party A&#146;s prior written
    consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.11&#160;To promptly notify Party A of any pending or
    threatened suit, arbitration or administrative proceedings
    concerning Party C&#146;s assets, business or revenue;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.12&#160;To execute all necessary or appropriate documents,
    to take all necessary or appropriate actions and to bring all
    necessary or appropriate claims or to make all necessary and
    appropriate defenses against all claims in order for Party C to
    maintain the ownership over all its assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.13&#160;Not to distribute dividends to Party C&#146;s
    shareholders in any way without Party A&#146;s prior written
    consent. However, Party C shall promptly distribute all or part
    of its distributable profits to its shareholders upon Party
    A&#146;s request;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.14&#160;At the request of Party A, to appoint persons
    nominated by Party A to be the directors of Party C.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2&#160;Covenants Relating to the Transferor
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party B hereby covenants:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.1&#160;Not to sell, transfer, mortgage or otherwise dispose
    of, or allow any other security interest to be created on, the
    legal or beneficial interest in the Equity Interest at any time
    after the signing of this Agreement without Party A&#146;s prior
    written consent, other than the pledge created on Party B&#146;s
    Equity Interest in accordance with the Equity Pledge Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.2&#160;Without Party A&#146;s prior written consent, not to
    vote for or sign any shareholders&#146; resolution at Party
    C&#146;s shareholders&#146; meetings to approve the sale,
    transfer, mortgage or disposition in any other manner of, or the
    creation of any other security interest on, any legal or
    beneficial interest in the Equity Interest, except to or for the
    benefit of Party A or its designated persons;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.3&#160;Without Party A&#146;s prior written consent, not to
    vote for or sign any shareholders&#146; resolution at Party
    C&#146;s shareholders&#146; meetings to approve Party C&#146;s
    merger or consolidation with, acquisition of or investment in,
    any person;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.4&#160;To promptly notify Party A of any pending or
    threatened suit, arbitration or administrative proceedings
    concerning the Equity Interest owned by it;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.5&#160;To cause the shareholders&#146; meeting to approve
    the transfer of the Purchased Equity Interest under this
    Agreement;
</DIV>
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    <BR>
    3
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.6&#160;To execute all necessary or appropriate documents, to
    take all necessary or appropriate actions and to bring all
    necessary or appropriate claims or to make all necessary and
    appropriate defenses against all claims in order to maintain his
    ownership over the Equity Interest;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.7&#160;At the request of Party A, to appoint persons
    nominated by Party A to be the directors of Party C;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.8&#160;At any time, upon the request of Party A, to transfer
    its Equity Interest immediately and unconditionally to the
    representative designated by Party A, and waive its preemptive
    right with respect to the transfer of equity interest by the
    other shareholder of Party C;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.9&#160;To fully comply with the provisions of this Agreement
    and the other agreements entered into jointly or respectively by
    and among the Transferor, Party C and Party A, perform all
    obligations under these agreements and not commit any act or
    omission that would affect the validity and enforceability of
    these agreements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;<U>Representations and Warranties</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 7%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of the execution date of this Agreement and every transfer
    date, each of the Transferor and Party C hereby represents and
    warrants to Party A as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.1&#160;It has the power and authority to execute and deliver
    this Agreement, and any equity transfer agreement
    (&#147;Transfer Agreement&#148;) to which it is party for each
    transfer of the Purchased Equity under this Agreement and to
    perform its obligations under this Agreement and any Transfer
    Agreement. Once executed, this Agreement and any Transfer
    Agreement to which it is party will constitute a legal, valid
    and binding obligation of it enforceable against it in
    accordance with its terms;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2&#160;The execution, delivery and performance of this
    Agreement or any Transfer Agreement by it will not:
    (i)&#160;violate any relevant PRC laws and regulations;
    (ii)&#160;conflict with its articles of association or other
    organizational documents; (iii)&#160;violate or constitute a
    default under any contract or instrument to which it is party or
    that binds upon it; (iv)&#160;violate any condition for the
    grant <FONT style="white-space: nowrap">and/or</FONT>
    continued effectiveness of any permit or approval granted to it;
    or (v)&#160;cause any permit or approval granted to it to be
    suspended, cancelled or attached with additional conditions;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.3&#160;Party C has good and marketable ownership interest in
    all of its assets and has not created any security interest on
    the said assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.4&#160;Party C has no outstanding liabilities, except
    (i)&#160;liabilities arising in its normal course of business;
    and (ii)&#160;liabilities disclosed to Party A and approved by
    Party A in writing;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.5&#160;Party C complies with all PRC laws and regulations
    applicable to the acquisition of assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.6&#160;There are currently no existing, pending or threatened
    litigation, arbitration or administrative proceedings related to
    the Equity Interest, Party C&#146;s assets or Party C;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.7&#160;The Transferor has good and marketable ownership
    interest in the Equity Interest and has not created any security
    interest on such Equity Interest, other than the security
    interest pursuant to the Equity Pledge Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;<U>Assignment of Agreement</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1&#160;Party B and Party C shall not assign their rights and
    obligations under this Agreement to any third party without the
    prior written consent of Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2&#160;Party B and Party C hereby agree that Party A may
    assign all its rights and obligation under this Agreement to a
    third party without the consent of Party B and Party C, but such
    assignment shall be notified in writing to Party B and Party C.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;<U>Effective Date and Term</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.1&#160;This Agreement shall be effective as of the date first
    set forth above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.2&#160;The term of this Agreement is ten (10)&#160;years
    unless terminated earlier in accordance with the provisions of
    this Agreement or related agreements entered into by the
    Parties. This Agreement may be extended with the written consent
    of Party A before its expiration. The term of the extension
    shall be decided by the Parties through negotiation.
</DIV>
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    <BR>
    4
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.3&#160;If the duration of operation (including any extension
    thereof) of Party A or Party C is expired or terminated for
    other reasons within the term set forth in Article 5.2, this
    Agreement shall be terminated simultaneously, except in the
    situation where Party A has assigned its rights and obligations
    in accordance with Article&#160;4.2 hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;<U>Applicable Law and Dispute Resolution</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1&#160;Applicable Law
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The formation, validity, interpretation and performance of and
    settlement of disputes under this Agreement shall be governed by
    the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.2&#160;Dispute Resolution
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any dispute arising in connection with the interpretation and
    performance of the provisions of this Agreement shall be
    resolved by the Parties in good faith through negotiations. In
    case no resolution can be reached by the Parties within thirty
    (30)&#160;days after either party makes a request for dispute
    resolution through negotiations, either party may refer such
    dispute to China International Economic and Trade Arbitration
    Commission (&#147;CIETAC&#148;) for arbitration in accordance
    with CIETAC&#146;s arbitration rules then in effect. The seat of
    arbitration shall be Beijing and language of proceedings shall
    be Chinese. The arbitral award shall be final and binding upon
    the Parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;<U>Taxes and Expenses</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 7%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Every Party shall, in accordance with PRC laws, bear any and all
    transfer and registration taxes, expenses and charges incurred
    by or levied on it with respect to the preparation and execution
    of this Agreement and each Transfer Agreement and the
    consummation of the transactions contemplated under this
    Agreement and each Transfer Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;<U>Confidentiality</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 7%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Parties acknowledge and confirm any oral or written
    materials exchanged by the Parties in connection with this
    Agreement are confidential. The Parties shall maintain the
    confidentiality of all such materials. Without the written
    approval by the other Parties, any Party shall not disclose to
    any third party any relevant materials, but the following
    circumstances shall be excluded:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.1&#160;Materials that are or will become known by the public
    (through no fault of the receiving party);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.2&#160;Materials required to be disclosed by the applicable
    laws or rules of the stock exchange;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.3&#160;Materials disclosed by each Party to its legal or
    financial advisors relating the transactions contemplated by
    this Agreement, and such legal or financial advisors shall
    comply with the confidentiality provisions set forth in this
    Article&#160;8. Any disclosure of confidential information by
    the personnel of any Party or by the institutions engaged by
    such Party shall be deemed as a disclosure by such Party, and
    such Party shall be liable for the breach under this Agreement.
    This Article&#160;8 shall survive the invalidity, cancellation,
    termination or unenforceability of this Agreement for any reason.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;<U>Further Assurances</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 7%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Parties agree to promptly execute documents and take further
    actions that are reasonably required for, or beneficial to, the
    purpose of performing the provisions and carrying out the intent
    of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;<U>Miscellaneous</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.1&#160;Amendment, Modification or Supplement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any amendment or supplement to this Agreement shall be made by
    the Parties in writing. The amendments or supplements duly
    executed by each Party shall be deemed as a part of this
    Agreement and shall have the same legal effect as this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.2&#160;Entire Agreement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding Article&#160;5 of this Agreement, the Parties
    acknowledge that once this Agreement becomes effective, it shall
    constitute the entire agreement of the Parties with respect to
    the subject matters hereof and shall
</DIV>
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    <BR>
    5
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    supersede all prior oral
    <FONT style="white-space: nowrap">and/or</FONT>
    written agreements and understandings by the Parties with
    respect to the subject matters hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.3&#160;Severability
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If any provision of this Agreement is judged to be invalid,
    illegal or unenforceable in any respect according to any
    applicable law or regulation, the validity, legality and
    enforceability of the other provisions hereof shall not be
    affected or impaired in any way. The Parties shall, through
    good-faith negotiations, replace those invalid, illegal or
    unenforceable provisions with valid provisions that may bring
    about economic effects as similar as possible to those from such
    invalid, illegal or unenforceable provisions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.4&#160;Headings
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The headings contained in this Agreement are for the convenience
    of reference only and shall not be used for the interpretation
    or explanation or otherwise affect the meaning of the provisions
    of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.5&#160;Language and Copies
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement is executed in Chinese in three copies; each
    Party holds one copy and each copy has the same legal effect.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.6&#160;Successor
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall bind upon and inure to the benefit of the
    successors and permitted assigns of each Party.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.7&#160;Survival
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any obligation arising from or becoming due under this Agreement
    before its expiration or premature termination shall survive
    such expiration or premature termination. Articles&#160;6, 8 and
    9 and this Section&#160;11.7 shall survive the termination of
    this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.8&#160;Waiver
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any Party may waive the terms and conditions of this Agreement
    by a written instrument signed by the Parties. Any waiver by a
    Party to a breach by the other Parties in a specific situation
    shall not be construed as a waiver to any similar breach by the
    other Parties in other situations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS WHEREOF</B>, each Party has caused this Agreement
    to be executed by himself/herself, its legal representative or
    its duly authorized representative as of the date first written
    above.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    [Signature Page]
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Legal Representative/Authorized Representative:
    <U>&#160;&#160;&#160;&#160;&#160;[manual
    signature]&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: Jiping Liu</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="23%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="76%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Signature:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;&#160;&#160;&#160;&#160;&#160;Jiping
    Liu</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 100%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party C: Beijing Perusal Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="59%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="40%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Legal Representative/Authorized Representative:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;&#160;&#160;&#160;&#160;&#160;Jiping
    Liu</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 100%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal:&#160;&#160;[Beijing Perusal Technology Co., Ltd. seal]
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    7
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.30</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Supplementary
    Agreement to the<BR>
    Exclusive Equity Purchase Option Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="85%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No. 10 Shangdi 10th&#160;Street, Haidian District, Beijing
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>LIU Jiping</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    ID No.
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    440301196306305512
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Perusal Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    A2 2/F, Building 17, Zhongguancun Software Park, 8 DongbeiWang
    Xilu, Haidian District, Beijing
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (Collectively, the &#147;Parties&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS</B>, Party A, Party B and Party C have made a certain
    Exclusive Equity Purchase Option Agreement dated May&#160;19,
    2006 (the &#147;Original Agreement&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE, </B>the Parties agree through friendly
    negotiation to amend the Original Agreement as follows on
    April&#160;22, 2010:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;The Parties agree to add the following term to the
    Covenants Relating to the Transferor provided under
    Section&#160;2.2 of the Original Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.15&#160;Any and all earnings distributed from Party C and
    otherwise distributed shall be paid to Party A in full amount.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2. The Parties agree to add the following Section&#160;2.3 to
    the Original Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3&#160;Covenants of Party A
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party A hereby covenants:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3.1&#160;to provide funding support unconditionally and
    unlimitedly to Party C within acceptable and reasonable scope if
    Party C needs any loan or other funding support during Party
    C&#146;s business operations;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3.2&#160;to waive unconditionally its claim for repayment of
    any loan from Party C if Party C fails to do so because Party C
    experiences loss in its business operations, provided that such
    loss may be sufficiently evidenced.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;This Agreement is an integral part of this Agreement. If
    there is any consistency between this Agreement and the Original
    Agreement, this Agreement shall prevail. Any matter that is not
    provided under this Agreement shall be governed by the Original
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;This Agreement is made in three counterparts with each
    Party holding one copy. Each copy has the same legal effect and
    will be effective upon signature and affixture of seals by the
    Parties.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Legal
    representative/authorized representative</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (seal of Baidu Online Network Technology (Beijing) Co., Ltd.)
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: LIU Jiping</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;LIU
    Jiping</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party C: CAI Hu</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;CAI
    Hu</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party D: Beijing Perusal Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Legal
    representative/authorized representative</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (seal of Beijing Perusal Technology Co., Ltd.)
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.30</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">EXCLUSIVE
    EQUITY PURCHASE OPTION AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Exclusive Equity Purchase Option Agreement (this
    &#147;Agreement&#148;) is entered into as of May&#160;19, 2006
    among the following parties in Beijing, PRC:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="15%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="79%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    12/F., Ideal International Plaza, No. 58 North-West
    4th&#160;Ring, Haidian District, Beijing, PRC, 100080
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Yazhu Zhang</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>ID Number:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    140102196607194865
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No. 201, Building N, Shahebotuofeinuochun Water front, Nanshan
    District, Shenzhen, Guangdong, 518053
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Perusal Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No. 402, 18 Danling Street, Haidian District, Beijing, PRC,
    100080
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In this Agreement, Party A, Party B and Party C are called
    collectively as the &#147;Parties&#148; and each of them is a
    &#147;Party.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A, is a wholly foreign-owned enterprise
    incorporated under the laws of the People&#146;s Republic of
    China (the &#147;PRC&#148;), which has technology expertise and
    practical experience in computer software development and
    design, and also has rich experience and expertise in
    information technology and service;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party C, a liability limited company incorporated in the
    PRC, is licensed by licensed by Beijing Communications
    Administration to carry out the business of value-added
    telecommunication services such as Internet information services;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party B is the shareholder of Party C. Party B has
    ownership of&#160;&#160;20&#160;&#160;&#160;&#160;&#160;% of the
    equity interest in Party C (the &#147;Equity Interest&#148;);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Party A and Party B entered into a loan agreement (the
    &#147;Loan Agreement&#148;) on May&#160;19, 2006;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Party A and Party B entered into an equity pledge
    agreement (the &#147;Equity Pledge Agreement&#148;) on
    May&#160;19, 2006.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE</B>, the Parties upon negotiation hereby agree
    as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;<U>Purchase and Sale of Equity Interest</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1&#160;Granting of Rights
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party B (hereafter, the &#147;Transferor&#148;) hereby
    irrevocably grants to Party A an option to purchase or cause any
    one or more designated persons (&#147;Designated Persons&#148;)
    to purchase, to the extent permitted under PRC law, according to
    the steps determined by Party A, at the price specified in
    Section&#160;1.3 of this Agreement, and at any time from the
    Transferor, a portion of, or all of, the equity interests held
    by the Transferor in Party C (the &#147;Option&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No Option shall be granted to any third party other than Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons. Party C hereby agrees to the granting of the
    Option by Party B to Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons. The &#147;person&#148; set forth in this
    clause and this Agreement means an individual person,
    corporation, joint venture, partnership, enterprise, trust or a
    non-corporation organization.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2&#160;Exercise Steps
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Subject to PRC law and regulations, Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons may exercise the Option by issuing a written
    notice (the &#147;Notice&#148;) to the Transferor, specifying
    the equity interest to be purchased from the Transferor (the
    &#147;Purchased Equity Interest&#148;) and the manner of such
    purchase.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.3&#160;Purchase Price
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.3.1&#160;If Party A exercises the Option, the purchase price
    of the Purchased Equity Interest (&#147;Purchase Price&#148;)
    shall be equal to the original paid-in capital paid by the
    Transferor for the Purchased Equity Interest, unless then
    applicable PRC laws and regulations require appraisal of the
    Purchased Equity Interest or stipulate other restrictions on the
    Purchase price.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.3.2&#160;If the applicable PRC laws require appraisal of the
    Purchased Equity Interest or stipulate other restrictions on the
    Purchase Price at the time that Party A exercises the Option,
    the Parties agree that the Purchase Price shall be set at the
    lowest price permissible under applicable law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4&#160;Transfer of the Purchased Equity Interest
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    At each exercise of the Option:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4.1&#160;The Transferor shall cause Party C to convene a
    shareholders&#146; meeting. During the meeting, resolutions
    approving the transfer of the Equity Interest from the
    Transferor to Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons shall be adopted;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4.2&#160;The Transferor shall, in accordance the terms and
    conditions of this Agreement and the Notice in connection with
    the Purchased Equity Interest, enter into an equity transfer
    agreement with Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons (as applicable) for each transfer;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4.3&#160;The related parties shall execute all other requisite
    contracts, agreements or documents, obtain all requisite
    government approvals and consents, and take all necessary
    actions to transfer the valid ownership of the Purchased Equity
    Interest to Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons free of any security interest, and cause
    Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons to be the registered owner(s) of the
    Purchased Equity Interest. In this clause and this Agreement,
    &#147;Security Interest&#148; means guaranty, mortgage, pledge,
    third-party right or interest, any share option, right of
    acquisition, right of first refusal, right of set-off,
    ownership, detainment or other security arrangements. However,
    it does not include any security interest arising under the
    Equity Pledge Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.5&#160;Payment
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The manner of payment of the Purchase Price shall be determined
    through negotiations between Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons and the Transferor according to the
    applicable laws at the time of the exercise of the Option. The
    Parties hereby agree that, subject to applicable laws,
    Transferor shall repay to Party A any amount that is paid by
    Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons to the Transferor in connection with the
    Purchased Equity Interest, as the repayment of the loan
    principal under the Loan Agreement, as well as legally permitted
    interests or capital.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;<U>Covenants Relating to the Equity Interest</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1&#160;Covenants Relating to Party C
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party B and Party C hereby covenant:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.1&#160;Not to supplement, amend or modify Party C&#146;s
    articles of association in any way, or to increase or decrease
    its registered capital, or to change its registered capital
    structure in any way without Party A&#146;s prior written
    consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.2&#160;To maintain the corporate existence of Party C and
    operate its business and deal with matters prudently and
    effectively according to good financial and business rules and
    practices;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.3&#160;Not to sell, transfer, mortgage or otherwise dispose
    of, or permit any other security interest to be created on, any
    of Party C&#146;s assets, business or legal or beneficial
    interests in its revenue at any time after the signing of this
    Agreement without Party A&#146;s prior written consent;
</DIV>
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    <BR>
    2
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.4&#160;Not to create, succeed to, guarantee or permit any
    liability, without Party A&#146;s prior written consent, except
    (i)&#160;liabilities arising from the normal course of business,
    but not arising from loans; and (ii)&#160;liabilities disclosed
    to Party A and approved by Party A in writing;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.5&#160;To operate persistently all the business in the
    normal course of business to maintain the value of Party
    C&#146;s assets, and not to commit any act or omission that
    would affect its operations and asset value;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.6&#160;Without prior written consent by Party A, not to
    enter into any material agreement, other than agreements entered
    into in Party C&#146;s normal course of business (for purpose of
    this paragraph, an agreement will be deemed material if its
    value exceeds RMB[100,000]);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.7&#160;Not to provide loans or credit to any person without
    Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.8&#160;To provide all information relating to Party C&#146;s
    operations and financial conditions upon the request of Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.9&#160;To purchase and maintain insurance from insurance
    companies accepted by Party A. The amount and category of the
    insurance shall the same as those of the insurance normally
    procured by companies engaged in similar businesses and
    possessing similar properties or assets in the area where Party
    C is located;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.10&#160;Not to merge or consolidate with, or acquire or
    invest in, any person without Party A&#146;s prior written
    consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.11&#160;To promptly notify Party A of any pending or
    threatened suit, arbitration or administrative proceedings
    concerning Party C&#146;s assets, business or revenue;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.12&#160;To execute all necessary or appropriate documents,
    to take all necessary or appropriate actions and to bring all
    necessary or appropriate claims or to make all necessary and
    appropriate defenses against all claims in order for Party C to
    maintain the ownership over all its assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.13&#160;Not to distribute dividends to Party C&#146;s
    shareholders in any way without Party A&#146;s prior written
    consent. However, Party C shall promptly distribute all or part
    of its distributable profits to its shareholders upon Party
    A&#146;s request;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.14&#160;At the request of Party A, to appoint persons
    nominated by Party A to be the directors of Party&#160;C.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2&#160;Covenants Relating to the Transferor
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party B hereby covenants:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.1&#160;Not to sell, transfer, mortgage or otherwise dispose
    of, or allow any other security interest to be created on, the
    legal or beneficial interest in the Equity Interest at any time
    after the signing of this Agreement without Party A&#146;s prior
    written consent, other than the pledge created on Party B&#146;s
    Equity Interest in accordance with the Equity Pledge Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.2&#160;Without Party A&#146;s prior written consent, not to
    vote for or sign any shareholders&#146; resolution at Party
    C&#146;s shareholders&#146; meetings to approve the sale,
    transfer, mortgage or disposition in any other manner of, or the
    creation of any other security interest on, any legal or
    beneficial interest in the Equity Interest, except to or for the
    benefit of Party A or its designated persons;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.3&#160;Without Party A&#146;s prior written consent, not to
    vote for or sign any shareholders&#146; resolution at Party
    C&#146;s shareholders&#146; meetings to approve Party C&#146;s
    merger or consolidation with, acquisition of or investment in,
    any person;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.4&#160;To promptly notify Party A of any pending or
    threatened suit, arbitration or administrative proceedings
    concerning the Equity Interest owned by it;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.5&#160;To cause the shareholders&#146; meeting to approve
    the transfer of the Purchased Equity Interest under this
    Agreement;
</DIV>
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    <BR>
    3
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.6&#160;To execute all necessary or appropriate documents, to
    take all necessary or appropriate actions and to bring all
    necessary or appropriate claims or to make all necessary and
    appropriate defenses against all claims in order to maintain her
    ownership over the Equity Interest;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.7&#160;At the request of Party A, to appoint persons
    nominated by Party A to be the directors of Party C;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.8&#160;At any time, upon the request of Party A, to transfer
    its Equity Interest immediately and unconditionally to the
    representative designated by Party A, and waive its preemptive
    right with respect to the transfer of equity interest by the
    other shareholder of Party C;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.9&#160;To fully comply with the provisions of this Agreement
    and the other agreements entered into jointly or respectively by
    and among the Transferor, Party C and Party A, perform all
    obligations under these agreements and not commit any act or
    omission that would affect the validity and enforceability of
    these agreements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;<U>Representations and Warranties</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of the execution date of this Agreement and every transfer
    date, each of the Transferor and Party C hereby represents and
    warrants to Party A as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.1&#160;It has the power and authority to execute and deliver
    this Agreement, and any equity transfer agreement
    (&#147;Transfer Agreement&#148;) to which it is party for each
    transfer of the Purchased Equity under this Agreement and to
    perform its obligations under this Agreement and any Transfer
    Agreement. Once executed, this Agreement and any Transfer
    Agreement to which it is party will constitute a legal, valid
    and binding obligation of it enforceable against it in
    accordance with its terms;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2&#160;The execution, delivery and performance of this
    Agreement or any Transfer Agreement by it will not:
    (i)&#160;violate any relevant PRC laws and regulations;
    (ii)&#160;conflict with its articles of association or other
    organizational documents; (iii)&#160;violate or constitute a
    default under any contract or instrument to which it is party or
    that binds upon it; (iv)&#160;violate any condition for the
    grant <FONT style="white-space: nowrap">and/or</FONT>
    continued effectiveness of any permit or approval granted to it;
    or (v)&#160;cause any permit or approval granted to it to be
    suspended, cancelled or attached with additional conditions;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.3&#160;Party C has good and marketable ownership interest in
    all of its assets and has not created any security interest on
    the said assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.4&#160;Party C has no outstanding liabilities, except
    (i)&#160;liabilities arising in its normal course of business;
    and (ii)&#160;liabilities disclosed to Party A and approved by
    Party A in writing;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.5&#160;Party C complies with all PRC laws and regulations
    applicable to the acquisition of assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.6&#160;There are currently no existing, pending or threatened
    litigation, arbitration or administrative proceedings related to
    the Equity Interest, Party C&#146;s assets or Party C;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.7&#160;The Transferor has good and marketable ownership
    interest in the Equity Interest and has not created any security
    interest on such Equity Interest, other than the security
    interest pursuant to the Equity Pledge Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;<U>Assignment of Agreement</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1&#160;Party B and Party C shall not assign their rights and
    obligations under this Agreement to any third party without the
    prior written consent of Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2&#160;Party B and Party C hereby agree that Party A may
    assign all its rights and obligation under this Agreement to a
    third party without the consent of Party B and Party C, but such
    assignment shall be notified in writing to Party B and Party C.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;<U>Effective Date and Term</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.1&#160;This Agreement shall be effective as of the date first
    set forth above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.2&#160;The term of this Agreement is ten (10)&#160;years
    unless terminated earlier in accordance with the provisions of
    this Agreement or related agreements entered into by the
    Parties. This Agreement may be extended with the written consent
    of Party A before its expiration. The term of the extension
    shall be decided by the Parties through negotiation.
</DIV>
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    <BR>
    4
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.3&#160;If the duration of operation (including any extension
    thereof) of Party A or Party C is expired or terminated for
    other reasons within the term set forth in Article 5.2, this
    Agreement shall be terminated simultaneously, except in the
    situation where Party A has assigned its rights and obligations
    in accordance with Article&#160;4.2 hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;<U>Applicable Law and Dispute Resolution</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1&#160;Applicable Law
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The formation, validity, interpretation and performance of and
    settlement of disputes under this Agreement shall be governed by
    the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.2&#160;Dispute Resolution
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any dispute arising in connection with the interpretation and
    performance of the provisions of this Agreement shall be
    resolved by the Parties in good faith through negotiations. In
    case no resolution can be reached by the Parties within thirty
    (30)&#160;days after either party makes a request for dispute
    resolution through negotiations, either party may refer such
    dispute to China International Economic and Trade Arbitration
    Commission (&#147;CIETAC&#148;) for arbitration in accordance
    with CIETAC&#146;s arbitration rules then in effect. The seat of
    arbitration shall be Beijing and language of proceedings shall
    be Chinese. The arbitral award shall be final and binding upon
    the Parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;<U>Taxes and Expenses</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Every Party shall, in accordance with PRC laws, bear any and all
    transfer and registration taxes, expenses and charges incurred
    by or levied on it with respect to the preparation and execution
    of this Agreement and each Transfer Agreement and the
    consummation of the transactions contemplated under this
    Agreement and each Transfer Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;<U>Confidentiality</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Parties acknowledge and confirm any oral or written
    materials exchanged by the Parties in connection with this
    Agreement are confidential. The Parties shall maintain the
    confidentiality of all such materials. Without the written
    approval by the other Parties, any Party shall not disclose to
    any third party any relevant materials, but the following
    circumstances shall be excluded:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.1&#160;Materials that are or will become known by the public
    (through no fault of the receiving party);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.2&#160;Materials required to be disclosed by the applicable
    laws or rules of the stock exchange;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.3&#160;Materials disclosed by each Party to its legal or
    financial advisors relating the transactions contemplated by
    this Agreement, and such legal or financial advisors shall
    comply with the confidentiality provisions set forth in this
    Article&#160;8. Any disclosure of confidential information by
    the personnel of any Party or by the institutions engaged by
    such Party shall be deemed as a disclosure by such Party, and
    such Party shall be liable for the breach under this Agreement.
    This Article&#160;8 shall survive the invalidity, cancellation,
    termination or unenforceability of this Agreement for any reason.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;<U>Further Assurances</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Parties agree to promptly execute documents and take further
    actions that are reasonably required for, or beneficial to, the
    purpose of performing the provisions and carrying out the intent
    of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;<U>Miscellaneous</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.1&#160;Amendment, Modification or Supplement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any amendment or supplement to this Agreement shall be made by
    the Parties in writing. The amendments or supplements duly
    executed by each Party shall be deemed as a part of this
    Agreement and shall have the same legal effect as this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.2&#160;Entire Agreement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding Article&#160;5 of this Agreement, the Parties
    acknowledge that once this Agreement becomes effective, it shall
    constitute the entire agreement of the Parties with respect to
    the subject matters hereof and shall
</DIV>
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    <BR>
    5
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    supersede all prior oral
    <FONT style="white-space: nowrap">and/or</FONT>
    written agreements and understandings by the Parties with
    respect to the subject matters hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.3&#160;Severability
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If any provision of this Agreement is judged to be invalid,
    illegal or unenforceable in any respect according to any
    applicable law or regulation, the validity, legality and
    enforceability of the other provisions hereof shall not be
    affected or impaired in any way. The Parties shall, through
    good-faith negotiations, replace those invalid, illegal or
    unenforceable provisions with valid provisions that may bring
    about economic effects as similar as possible to those from such
    invalid, illegal or unenforceable provisions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.4&#160;Headings
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The headings contained in this Agreement are for the convenience
    of reference only and shall not be used for the interpretation
    or explanation or otherwise affect the meaning of the provisions
    of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.5&#160;Language and Copies
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement is executed in Chinese in three copies; each
    Party holds one copy and each copy has the same legal effect.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.6&#160;Successor
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall bind upon and inure to the benefit of the
    successors and permitted assigns of each Party.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.7&#160;Survival
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any obligation arising from or becoming due under this Agreement
    before its expiration or premature termination shall survive
    such expiration or premature termination. Articles&#160;6, 8 and
    9 and this Section&#160;11.7 shall survive the termination of
    this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.8&#160;Waiver
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any Party may waive the terms and conditions of this Agreement
    by a written instrument signed by the Parties. Any waiver by a
    Party to a breach by the other Parties in a specific situation
    shall not be construed as a waiver to any similar breach by the
    other Parties in other situations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS WHEREOF</B>, each Party has caused this Agreement
    to be executed by himself/herself, its legal representative or
    its duly authorized representative as of the date first written
    above.
</DIV>
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    <BR>
    6
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    [Signature Page]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="44%"></TD>
    <TD width="56%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal Representative/Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:center; width:90%">[manual
    signature]</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 44%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: Yazhu Zhang</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yazhu
    Zhang</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 9%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party C: Beijing Perusal Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="44%"></TD>
    <TD width="56%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal Representative/Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Jiping
    Liu</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 44%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Beijing Perusal Technology Co., Ltd. seal]
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    7
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.30</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Supplementary
    Agreement to the<BR>
    Exclusive Equity Purchase Option Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="85%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No. 10 Shangdi 10th&#160;Street, Haidian District, Beijing
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>ZHANG Yazhu</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    ID No
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    140102196607194865
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Perusal Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    A2 2/F, Building 17, Zhongguancun Software Park, 8 DongbeiWang
    Xilu, Haidian District, Beijing
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (Collectively, the &#147;Parties&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS</B>, Party A, Party B and Party C have made a certain
    Exclusive Equity Purchase Option Agreement dated May&#160;19,
    2006 (the &#147;Original Agreement&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE, </B>the Parties agree through friendly
    negotiation to amend the Original Agreement as follows on
    April&#160;22, 2010:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;The Parties agree to add the following term to the
    Covenants Relating to the Transferor provided under
    Section&#160;2.2 of the Original Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.15&#160;Any and all earnings distributed from Party C and
    otherwise distributed shall be paid to Party A in full amount.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;The Parties agree to add the following Section&#160;2.3
    to the Original Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3&#160;Covenants of Party A
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party A hereby covenants:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3.1&#160;to provide funding support unconditionally and
    unlimitedly to Party C within acceptable and reasonable scope if
    Party C needs any loan or other funding support during Party
    C&#146;s business operations;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3.2&#160;to waive unconditionally its claim for repayment of
    any loan from Party C if Party C fails to do so because Party C
    experiences loss in its business operations, provided that such
    loss may be sufficiently evidenced.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;This Agreement is an integral part of this Agreement. If
    there is any consistency between this Agreement and the Original
    Agreement, this Agreement shall prevail. Any matter that is not
    provided under this Agreement shall be governed by the Original
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;This Agreement is made in three counterparts with each
    Party holding one copy. Each copy has the same legal effect and
    will be effective upon signature and affixture of seals by the
    Parties.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Legal
    representative/authorized representative</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (seal of Baidu Online Network Technology (Beijing) Co., Ltd.)
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: LIU Jiping</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;LIU
    Jiping</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party C: ZHANG Yazhu</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;ZHANG
    Yazhu</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party D: Beijing Perusal Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Legal
    representative/authorized representative</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (seal of Beijing Perusal Technology Co., Ltd.)
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.31
<SEQUENCE>8
<FILENAME>h04360dexv4w31.htm
<DESCRIPTION>EX-4.31
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w31</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.31</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Irrevocable
    Power of Attorney</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    I, Jiping Liu, citizen of the People&#146;s Republic of China
    (the &#145;&#145;PRC&#148;) with ID No 440301196306305512, is
    the shareholder holding 80% equity interests of Beijing Perusal
    Technology Co., Ltd.(the &#147;Beijing Perusal&#148;), hereby
    irrevocably appoint Xuyang Ren with the following powers and
    rights during the term of this Power of Attorney:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    I hereby appoint Xuyang Ren to exercise, on my behalf, all
    voting rights of shareholder in accordance with PRC laws and
    Beijing Perusal&#146;s Articles at the shareholders&#146;
    meetings of Beijing Perusal, including but not limited to the
    right to sell or transfer any or all of equity interests of
    Beijing Perusal and to designate and appoint the general manager
    of Beijing Perusal as my authorized representative on the
    shareholders&#146; meeting of the Beijing Perusal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Such authorization and appointment are based upon the
    precondition that Xuyang Ren is acting as an employee of Baidu
    Online Network Technology (Beijing) Co., Ltd (the &#147;Baidu
    Online&#148;) and Baidu Online agrees such authorization and
    appointment. Once Xuyang Ren loses his title or position in
    Baidu Online or Baidu Online notifies of the termination of such
    authorization and appointment, I will withdraw such
    authorization and appointment to him immediately and
    designate/authorize the other individual nominated by Baidu
    Online to exercise the full voting rights on behalf of myself at
    the shareholders&#146; meetings of Beijing Perusal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The term of this Power of Attorney is 10&#160;years upon the
    execution date of this Power of Attorney during the duly
    existing term of Beijing Perusal unless the early termination of
    Operation Agreement jointly executed by Baidu Online and Beijing
    Perusal by any reason.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    (Signature):&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Jiping
    Liu</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 10%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Date: June&#160;23, 2006
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.31</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Irrevocable
    Power of Attorney</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    I, Yazhu Zhang, citizen of the People&#146;s Republic of China
    (the &#147;PRC&#148;) with ID No140102196607194865, is the
    shareholder holding 20% equity interests of Beijing Perusal
    TechnologyCo., Ltd (the &#147;Beijing Perusal&#148;), hereby
    irrevocably appoint Xuyang Ren with the following powers and
    rights during the term of this Power of Attorney:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    I hereby appoint Beijing Perusal&#146;s Articles at the
    shareholders&#146; meetings of Beijing Perusal, including but
    not limited to the right to sell or transfer any or all of
    equity interests of Beijing Perusal and to designate and appoint
    the general manager of Beijing Perusal as my authorized
    representative on the shareholders&#146; meeting of the Beijing
    Perusal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Such authorization and appointment are based upon the
    precondition that Xuyang Ren is acting as an employee of Baidu
    Online Network Technology (Beijing) Co., Ltd (the &#147;Baidu
    Online&#148;) and Baidu Online agrees such authorization and
    appointment. Once Xuyang Ren loses his title or position in
    Baidu Online or Baidu Online notifies of the termination of such
    authorization and appointment, I will withdraw such
    authorization and appointment to him immediately and
    designate/authorize the other individual nominated by Baidu
    Online to exercise the full voting rights on behalf of myself at
    the shareholders&#146; meetings of Beijing Perusal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The term of this Power of Attorney is 10&#160;years upon the
    execution date of this Power of Attorney during the duly
    existing term of Beijing Perusal unless the early termination of
    Operation Agreement jointly executed by Baidu Online and Beijing
    Perusal by any reason.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    (Signature):&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yazhu
    Zhang</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 10%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Date: June&#160;23, 2006
</DIV>
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    <BR>
    1
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</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.32
<SEQUENCE>9
<FILENAME>h04360dexv4w32.htm
<DESCRIPTION>EX-4.32
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w32</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.32</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">LOAN
    AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Loan Agreement (the &#147;Agreement&#148;) is entered into
    in Beijing, PRC as of May&#160;19, 2006 by the following parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    <B>Party A:&#160;</B></TD>
    <TD align="left">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Registration Address: 12/F., Ideal International Plaza,
    No.&#160;58 North-West 4th&#160;Ring, Haidian District, Beijing,
    PRC, 100080
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    <B>Party B:&#160;</B></TD>
    <TD align="left">
    <B>Jiping Liu</B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    ID No.: 440301196306305512
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Address: No. 201, Building N, Shahebotuofeinuochun Water front,
    Nanshan District, Shenzhen, Guangdong,&#160;518053
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS,</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A is a wholly-owned foreign enterprise
    incorporated in the People&#146;s Republic of China (the
    &#147;PRC&#148;);&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B is a citizen of the PRC and a shareholder of
    Beijing Perusal Technology Co., Ltd. (the &#147;Company&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE</B>, through friendly negotiations, the parties
    hereto agree as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A agrees to provide an interest-free loan to Party
    B with an aggregate principal amount of RMB 800,000 in
    accordance with the terms and conditions set forth in this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B confirms that he has received the total amount
    of the loan and has invested it into the Company as capital
    contribution.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;The Term of the loan starts from the date when Party B
    received the loan until ten (10)&#160;years after the execution
    of this Agreement and may be extended upon written agreement of
    the parties hereto. During the term of the loan or any extension
    thereof, Party A may notify Party B in writing that the loan
    under this Agreement is due and payable immediately and request
    Party B to repay the loan in the manner specified herein, if any
    of the following events occurs:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Party B resigns from or is dismissed by Party A or its
    affiliates;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Party B dies or becomes a person without capacity or
    with limited capacity for civil acts;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Party B commits a crime or is involved in a crime;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Any other third party claims more than RMB[100,000]
    against Party B;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;Subject to PRC laws, Party A or its designated person
    is permitted to invest in the business of value-added
    telecommunications services, such as Internet information
    services, as well as other businesses that the Company is
    engaged in, and Party A has given a written notice to the
    Company to exercise its purchase option in accordance with the
    exclusive equity purchase option agreement specified in
    Article&#160;4 of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Both parties hereby agree and confirm that, subject to
    PRC laws, Party A shall have the right, but not the obligation,
    to purchase, or designate other persons (including natural
    persons, legal persons or other entities) to purchase, at
    anytime all or part of the equity interests held by Party B in
    the Company (the &#147;Option Right&#148;), provided, however,
    that Party A shall notify Party B in writing of such purchase of
    equity interests. Once the written notice for exercising the
    Option Right is given by Party A, Party B shall, according to
    Party A&#146;s intention or instruction, transfer his equity
    interests in the Company to Party A or other persons designated
    by Party A at his original investment price (the &#147;Original
    Investment Price&#148;) or, if otherwise specified by laws, at
    an other price agreed upon by Party A. Both parties agree and
    confirm that, if at the time of Party A&#146;s exercise of the
    Option Right,
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    the lowest price permitted under then applicable laws and
    regulations is higher than the Original Investment Price, the
    purchase price to be paid by Party A or its designated persons
    shall be the lowest price permitted by applicable law. Both
    parties agree to execute an Exclusive Equity Purchase Option
    Agreement (the &#147;Option Agreement&#148;) in connection with
    the above matters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Both parties hereby agree and confirm that Party B may
    repay the loan only in the following manner: if permitted by PRC
    laws, Party B or its successor or assign shall transfer the
    equity interests in the Company to Party A or its designated
    persons and use the proceeds from such transfer to repay the
    loan, when the loan is due and Party A gives a written notice.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Both parties hereby agree and confirm that, except as
    otherwise provided for herein, the loan under this Agreement is
    interest-free. However, if, at the time the loan is due and
    Party B needs to transfer his equity interests in the Company to
    Party A or its designated persons, the actual transfer price is
    higher than the loan principal due to legal requirements or
    other reasons, the amount in excess of the loan principal, to
    the extent permitted by law, shall be deemed as interests or
    capital utilization cost, which shall be repaid to Party A
    together with the loan principal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Both parties hereby agree and confirm that Party B shall
    be deemed to have fully performed his obligations under this
    Agreement only if the following requirements are met:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Party B has transferred all his equity interests in the
    Company to Party A
    <FONT style="white-space: nowrap">and/or</FONT> its
    designated persons; and,
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Party B has paid the total proceeds from such transfer
    or the maximum amount (including principal and the highest loan
    interest permitted under then applicable law) allowed by
    applicable law as repayment of the loan to Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;To secure the performance of his obligations under this
    Agreement, Party B agrees to pledge all his equity interests in
    the Company to Party A (the &#147;Equity Pledge&#148;). Both
    parties agree to execute an Equity Pledge Agreement (the
    &#147;Equity Pledge Agreement&#148;) in connection with the
    above matters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Party A hereby represents and warrants to Party B that,
    as of the execution date of this Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Party A is a wholly foreign-owned enterprise
    incorporated and validly existing under the laws of PRC;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Party A has the right to execute and perform this
    Agreement. The execution and performance of this Agreement by
    Party A comply with its business scope, articles of association
    and other organizational documents. Party A has obtained all
    necessary and appropriate approvals and authorizations for the
    execution and performance of this Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;The principal of the loan to Party B is legally owned
    by Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;The execution and performance of this Agreement by
    Party A do not violate any laws, regulations, approvals,
    authorizations, notices, other governmental documents to which
    Party A is subject, any agreement signed by it with any third
    party or any undertaking made by it to any third party;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;When executed by the parties hereto, this Agreement
    shall constitute the legal, valid and binding obligations of
    Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Party B hereby represents and warrants to Party A that,
    from the execution date of this Agreement until this Agreement
    terminates:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;The Company is a limited liability company incorporated
    and validly existing under the laws of PRC and Party B is a
    legal holder of the equity interest of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Party B has the right to execute and perform this
    Agreement. The execution and performance of this Agreement by
    Party B comply with its business scope, articles of association
    and other organizational documents. Party B has obtained all
    necessary and appropriate approvals and authorizations for the
    execution and performance of this Agreement;
</DIV>
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    <BR>
    2
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;The execution and the performance of this Agreement by
    Party B do not violate any laws, regulations, approvals,
    authorizations, notices, other governmental documents to which
    Party B is subject, any agreement signed by Party B with any
    third party or any undertaking made by Party B to any third
    party;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;When executed by the parties hereto, this Agreement
    shall constitute the legal, valid and binding obligations of
    Party B;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;Party B has paid contribution in full for its equity
    interests in the Company in accordance with applicable laws and
    regulations;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;Except pursuant to the Equity Pledge Agreement and
    Exclusive Equity Purchase Option Agreement, Party B has not
    pledged or created any other security interest on, made any
    offer to any third party to transfer, accepted the offer of any
    third party to purchase, or execute agreement with any third
    party to transfer, Party B&#146;s equity interests in the
    Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;There are no pending or threatened disputes,
    litigation, arbitration or other administrative proceedings or
    other legal proceedings in connection with the equity interests
    of the Company held by Party B;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;The Company has completed all necessary governmental
    approval, license, registration and filing.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;Party B covenants that it shall, during the term of
    this Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Not sell, transfer, pledge or dispose in any other
    manner of his equity or other interests in the Company, or allow
    the creation of other security interests thereon, without Party
    A&#146;s prior written consent, except for equity pledges or
    other rights created for the benefit of Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Not vote for at shareholder&#146;s meetings of the
    Company or execute any shareholders&#146; resolutions approving
    the sale, transfer, pledge, disposition in any other manner, or
    the creation of any other security interest on, any legal or
    beneficial interest in the equity of the Company without Party
    A&#146;s prior written consent, except to or for the benefit of
    Party A or its designated persons;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Not vote for at shareholder&#146;s meetings of the
    Company or execute any shareholders&#146; resolutions approving
    the Company to merge or combine with, acquire or invest in any
    person without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Promptly inform Party A of any pending or threatened
    litigation, arbitration or regulatory proceeding concerning the
    equity interests of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;Execute all necessary or appropriate documents, take
    all necessary or appropriate actions, bring all necessary or
    appropriate lawsuits or assert all necessary and appropriate
    defenses against all claims in order to maintain his equity
    interests of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;Not commit any act or omission that may materially
    affect the assets, business and liabilities of the Company
    without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;Appoint any person nominated by Party A to be the
    director of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;Upon Party A&#146;s exercise of its Option Right,
    transfer promptly and unconditionally, all of Party B&#146;s
    equity interests in the Company to Party A or a person
    designated by Party A, provided that such transfer is permitted
    under the laws of PRC;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;Not request the Company to distribute dividends or
    profits;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (j)&#160;Once he has transferred his equity interests in the
    Company to Party A or its designated persons, promptly repay,
    subject to applicable laws, the proceeds received for such
    transfer in full, as the loan principal and loan interests or
    capital utilization cost allowed by laws, to Party A;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (k)&#160;Comply strictly with the terms of this Agreement, and
    perform the obligations pursuant to this Agreement and not
    commit any act or omission that would affect the validity and
    enforceability of this Agreement.
</DIV>
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    <BR>
    3
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Party B, as the shareholder of the Company, covenants
    that he shall cause the Company, during the term of this
    Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Not to supply, amend or modify its articles of
    association, or to increase or decrease its registered capital,
    or to change its capital structure in any way without Party
    A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;To maintain and operate its business and deal with
    matters prudently and effectively, in accordance with good
    financial and business rules and practices;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Not to sell, transfer, mortgage, dispose of in any
    other manner, or to create other security interest on, any of
    its assets, business or legal or beneficial right to its
    revenues without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Not to create, succeed to, guarantee or permit any
    liability, without the Party A&#146;s prior written consent,
    except (i)&#160;the liability arising from the ordinary course
    of business, but not arising through Party B; and (ii)&#160;the
    liability reported to and approved by Party A in writing;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;To operate persistently all the business and to
    maintain the value of its assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;Not to execute any material contracts (for the purpose
    of this paragraph, a contract will be deemed material if the
    value of it exceeds RMB[100,000]), without Party A&#146;s prior
    written consent, other than those executed during the ordinary
    course of business;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;To provide information concerning all of its operation
    and financial affairs upon Party A&#146;s request;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;Not to merge or combine with, acquire or invest in, any
    other person without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;Not to issue dividends to shareholders in any form
    without Party A&#146;s prior written consent. However, the
    Company shall promptly distributable all its distributable
    profits to each of its shareholders upon Party A&#146;s request;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (j)&#160;To inform promptly Party A of any pending or threatened
    suit, arbitration or regulatory proceeding concerning the
    assets, business or revenue of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (k)&#160;To execute all necessary or appropriate documents, take
    all necessary or appropriate actions, bring all necessary or
    appropriate lawsuits or assert all necessary and appropriate
    defenses against all claims in order to maintain the ownership
    of all its assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (l)&#160;To comply strictly with the terms of the Exclusive
    Technology Consulting and Service Agreement and other agreements
    between Party A and the Company, perform its obligations under
    aforesaid agreements, and not commit any act or omission that
    would affect the validity and enforceability of such agreements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;This agreement shall inure to the benefit of and be
    binding upon the parties hereto and their respective successors
    and assignees. Without prior written approval of Party A, Party
    B can not assign, pledge or otherwise transfer any right,
    benefit or obligation under this agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Party B agrees that Party A can assign its rights and
    duties under this Agreement to a third party when it thinks
    necessary, in which case Party A only needs to give a written
    notice to Party B and no further consent of Party B is required.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;The execution, validity, interpretation, performance,
    amendment, termination and resolution of disputes in connection
    with this Agreement shall be governed by the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;Arbitration.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Both parties shall strive to settle any dispute, conflict, or
    claim arising from the interpretation or performance (including
    any issue relating to the existence, validity and termination of
    this Agreement) in connection with this Agreement through
    friendly consultation. In case no settlement can be reached
    within thirty (30)&#160;day after one party requests for the
    settlement, each party may submit such dispute to China
    International Economic and Trade Arbitration Commission (the
    &#147;CIETAC&#148;) for arbitration in accordance with its
    rules. The arbitration award shall be final and binding upon the
    parties.
</DIV>
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    <BR>
    4
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The seat of the arbitration shall be Beijing.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The language for the arbitration proceedings shall be Chinese.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    17.&#160;This Agreement shall be formed on the date of
    execution. And both parties hereto agree that the terms and
    conditions of this Agreement shall be effective as of the date
    on which Party B has obtained the loan and shall expire when
    both parties have fully performed their obligations under this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    18.&#160;Party B cannot terminate or revoke this Agreement
    unless (a)&#160;Party A commits a gross negligence, fraud or
    other material illegal acts; or (b)&#160;Party A goes bankrupt.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    19.&#160;This Agreement may not be amended or modified except
    with a written agreement reached by both parties. In case of
    anything not covered herein, both parties may sign a written
    supplementary agreement. Any amendment, modification, supplement
    or annex to this Agreement shall form an integral part of this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    20.&#160;This Agreement constitutes the entire agreement of the
    parties hereto with respect to the subject matters hereof and
    supersedes all prior verbal discussions or written agreements
    between the parties with respect to subject matters hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    21.&#160;This Agreement is severable. If any clause of this
    Agreement is held to be invalid or unenforceable, such
    invalidity or unenforceability shall have no effect on the
    validity or enforceability of the remainder of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    22.&#160;Each party should protect the confidentiality of the
    information concerning the other party&#146;s business,
    operation, financial situation or other confidential information
    obtained under this Agreement or during the performance of this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    23.&#160;Any obligation arising from or becoming due under this
    Agreement before the expiration or early termination of this
    Agreement shall survive such expiration or early termination.
    The Articles&#160;15, 16 and 22 of this Agreement shall survive
    the termination of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    24.&#160;This Agreement shall be executed in two originals, with
    each party holding one original. All originals shall have the
    same legal effect.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS WHEREOF</B>, each party has caused this Agreement
    to be executed by himself, its legal representative or its duly
    authorized representative as of the date first written above.
</DIV>
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    <BR>
    5
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    [Signature Page]
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="44%"></TD>
    <TD width="56%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal Representative/Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;[manual
    signature]</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 44%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: Jiping Liu</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Jiping
    Liu</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 9%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>
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    <BR>
    6
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.32</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">LOAN
    AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Loan Agreement (the &#147;Agreement&#148;) is entered into
    in Beijing, PRC as of May&#160;19, 2006 by the following parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="20%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="78%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Registration Address<B>:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    12/F., Ideal International Plaza, No.&#160;58 North-West
    4th&#160;Ring, Haidian District, Beijing, PRC, 100080
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Yazhu Zhang</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    ID No.: 140102196607194865
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Address: No.&#160;201, Building N, Shahebotuofeinuochun Water
    front, Nanshan District, Shenzhen, Guangdong, 518053
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">WHEREAS,</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A is a wholly-owned foreign enterprise
    incorporated in the People&#146;s Republic of China (the
    &#147;PRC&#148;);&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B is a citizen of the PRC and is a shareholder of
    Beijing Perusal Technology Co., Ltd. (the &#147;Company&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE</B>, through friendly negotiations, the parties
    hereto agree as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A agrees to provide an interest-free loan to Party
    B with an aggregate principal amount of RMB&#160;200,000 in
    accordance with the terms and conditions set forth in this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B confirms that he has received the total amount
    of the loan and has invested it into the Company as capital
    contribution.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;The Term of the loan starts from the date when Party B
    received the loan until ten (10)&#160;years after the execution
    of this Agreement and may be extended upon written agreement of
    the parties hereto. During the term of the loan or any extension
    thereof, Party A may notify Party B in writing that the loan
    under this Agreement is due and payable immediately and request
    Party B to repay the loan in the manner specified herein, if any
    of the following events occurs:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Party B resigns from or is dismissed by Party A or its
    affiliates;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Party B dies or becomes a person without capacity or
    with limited capacity for civil acts;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Party B commits a crime or is involved in a crime;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Any other third party claims more than RMB[100,000]
    against Party B;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;Subject to PRC laws, Party A or its designated person
    is permitted to invest in the business of value-added
    telecommunications services, such as Internet information
    services, as well as other businesses that the Company is
    engaged in, and Party A has given a written notice to the
    Company to exercise its purchase option in accordance with the
    exclusive equity purchase option agreement specified in
    Article&#160;4 of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Both parties hereby agree and confirm that, subject to
    PRC laws, Party A shall have the right, but not the obligation,
    to purchase, or designate other persons (including natural
    persons, legal persons or other entities) to purchase, at
    anytime all or part of the equity interests held by Party B in
    the Company (the &#147;Option Right&#148;), provided, however,
    that Party A shall notify Party B in writing of such purchase of
    equity interests. Once the written notice for exercising the
    Option Right is given by Party A, Party B shall, according to
    Party A&#146;s intention or instruction, transfer his equity
    interests in the Company to Party A or other persons designated
    by Party A at his original investment price (the &#147;Original
    Investment Price&#148;) or, if otherwise specified by laws, at
    an other price agreed upon by Party A. Both parties agree and
    confirm that, if at the time of Party A&#146;s exercise of the
    Option Right, the lowest price permitted under then applicable
    laws and regulations is higher than the Original Investment
    Price,
</DIV>
<!-- XBRL Paragraph Pagebreak -->
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</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    the purchase price to be paid by Party A or its designated
    persons shall be the lowest price permitted by applicable law.
    Both parties agree to execute an Exclusive Equity Purchase
    Option Agreement (the &#147;Option Agreement&#148;) in
    connection with the above matters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Both parties hereby agree and confirm that Party B may
    repay the loan only in the following manner: if permitted by PRC
    laws, Party B or its successor or assign shall transfer the
    equity interests in the Company to Party A or its designated
    persons and use the proceeds from such transfer to repay the
    loan, when the loan is due and Party A gives a written notice.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Both parties hereby agree and confirm that, except as
    otherwise provided for herein, the loan under this Agreement is
    interest-free. However, if, at the time the loan is due and
    Party B needs to transfer his equity interests in the Company to
    Party A or its designated persons, the actual transfer price is
    higher than the loan principal due to legal requirements or
    other reasons, the amount in excess of the loan principal, to
    the extent permitted by law, shall be deemed as interests or
    capital utilization cost, which shall be repaid to Party A
    together with the loan principal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Both parties hereby agree and confirm that Party B shall
    be deemed to have fully performed his obligations under this
    Agreement only if the following requirements are met:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Party B has transferred all his equity interests in the
    Company to Party A
    <FONT style="white-space: nowrap">and/or</FONT> its
    designated persons; and,
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Party B has paid the total proceeds from such transfer
    or the maximum amount (including principal and the highest loan
    interest permitted under then applicable law) allowed by
    applicable law as repayment of the loan to Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;To secure the performance of his obligations under this
    Agreement, Party B agrees to pledge all his equity interests in
    the Company to Party A (the &#147;Equity Pledge&#148;). Both
    parties agree to execute an Equity Pledge Agreement (the
    &#147;Equity Pledge Agreement&#148;) in connection with the
    above matters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Party A hereby represents and warrants to Party B that,
    as of the execution date of this Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Party A is a wholly foreign-owned enterprise
    incorporated and validly existing under the laws of PRC;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Party A has the right to execute and perform this
    Agreement. The execution and performance of this Agreement by
    Party A comply with its business scope, articles of association
    and other organizational documents. Party A has obtained all
    necessary and appropriate approvals and authorizations for the
    execution and performance of this Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;The principal of the loan to Party B is legally owned
    by Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;The execution and performance of this Agreement by
    Party A do not violate any laws, regulations, approvals,
    authorizations, notices, other governmental documents to which
    Party A is subject, any agreement signed by it with any third
    party or any undertaking made by it to any third party;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;When executed by the parties hereto, this Agreement
    shall constitute the legal, valid and binding obligations of
    Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Party B hereby represents and warrants to Party A that,
    from the execution date of this Agreement until this Agreement
    terminates:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;The Company is a limited liability company incorporated
    and validly existing under the laws of PRC and Party B is a
    legal holder of the equity interest of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Party B has the right to execute and perform this
    Agreement. The execution and performance of this Agreement by
    Party B comply with its business scope, articles of association
    and other organizational documents. Party B has obtained all
    necessary and appropriate approvals and authorizations for the
    execution and performance of this Agreement;
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;The execution and the performance of this Agreement by
    Party B do not violate any laws, regulations, approvals,
    authorizations, notices, other governmental documents to which
    Party B is subject, any agreement signed by Party B with any
    third party or any undertaking made by Party B to any third
    party;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;When executed by the parties hereto, this Agreement
    shall constitute the legal, valid and binding obligations of
    Party B;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;Party B has paid contribution in full for its equity
    interests in the Company in accordance with applicable laws and
    regulations;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;Except pursuant to the Equity Pledge Agreement and
    Exclusive Equity Purchase Option Agreement, Party B has not
    pledged or created any other security interest on, made any
    offer to any third party to transfer, accepted the offer of any
    third party to purchase, or execute agreement with any third
    party to transfer, Party B&#146;s equity interests in the
    Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;There are no pending or threatened disputes,
    litigation, arbitration or other administrative proceedings or
    other legal proceedings in connection with the equity interests
    of the Company held by Party B;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;The Company has completed all necessary governmental
    approval, license, registration and filing.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;Party B covenants that it shall, during the term of
    this Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Not sell, transfer, pledge or dispose in any other
    manner of his equity or other interests in the Company, or allow
    the creation of other security interests thereon, without Party
    A&#146;s prior written consent, except for equity pledges or
    other rights created for the benefit of Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Not vote for at shareholder&#146;s meetings of the
    Company or execute any shareholders&#146; resolutions approving
    the sale, transfer, pledge, disposition in any other manner, or
    the creation of any other security interest on, any legal or
    beneficial interest in the equity of the Company without Party
    A&#146;s prior written consent, except to or for the benefit of
    Party A or its designated persons;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Not vote for at shareholder&#146;s meetings of the
    Company or execute any shareholders&#146; resolutions approving
    the Company to merge or combine with, acquire or invest in any
    person without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Promptly inform Party A of any pending or threatened
    litigation, arbitration or regulatory proceeding concerning the
    equity interests of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;Execute all necessary or appropriate documents, take
    all necessary or appropriate actions, bring all necessary or
    appropriate lawsuits or assert all necessary and appropriate
    defenses against all claims in order to maintain his equity
    interests of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;Not commit any act or omission that may materially
    affect the assets, business and liabilities of the Company
    without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;Appoint any person nominated by Party A to be the
    director of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;Upon Party A&#146;s exercise of its Option Right,
    transfer promptly and unconditionally, all of Party B&#146;s
    equity interests in the Company to Party A or a person
    designated by Party A, provided that such transfer is permitted
    under the laws of PRC;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;Not request the Company to distribute dividends or
    profits;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (j)&#160;Once he has transferred his equity interests in the
    Company to Party A or its designated persons, promptly repay,
    subject to applicable laws, the proceeds received for such
    transfer in full, as the loan principal and loan interests or
    capital utilization cost allowed by laws, to Party A;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (k)&#160;Comply strictly with the terms of this Agreement, and
    perform the obligations pursuant to this Agreement and not
    commit any act or omission that would affect the validity and
    enforceability of this Agreement.
</DIV>
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    <BR>
    3
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Party B, as the shareholder of the Company, covenants
    that he shall cause the Company, during the term of this
    Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Not to supply, amend or modify its articles of
    association, or to increase or decrease its registered capital,
    or to change its capital structure in any way without Party
    A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;To maintain and operate its business and deal with
    matters prudently and effectively, in accordance with good
    financial and business rules and practices;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Not to sell, transfer, mortgage, dispose of in any
    other manner, or to create other security interest on, any of
    its assets, business or legal or beneficial right to its
    revenues without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Not to create, succeed to, guarantee or permit any
    liability, without the Party A&#146;s prior written consent,
    except (i)&#160;the liability arising from the ordinary course
    of business, but not arising through Party B; and (ii)&#160;the
    liability reported to and approved by Party A in writing;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;To operate persistently all the business and to
    maintain the value of its assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;Not to execute any material contracts (for the purpose
    of this paragraph, a contract will be deemed material if the
    value of it exceeds RMB[100,000]), without Party A&#146;s prior
    written consent, other than those executed during the ordinary
    course of business;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;To provide information concerning all of its operation
    and financial affairs upon Party A&#146;s request;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;Not to merge or combine with, acquire or invest in, any
    other person without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;Not to issue dividends to shareholders in any form
    without Party A&#146;s prior written consent. However, the
    Company shall promptly distributable all its distributable
    profits to each of its shareholders upon Party A&#146;s request;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (j)&#160;To inform promptly Party A of any pending or threatened
    suit, arbitration or regulatory proceeding concerning the
    assets, business or revenue of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (k)&#160;To execute all necessary or appropriate documents, take
    all necessary or appropriate actions, bring all necessary or
    appropriate lawsuits or assert all necessary and appropriate
    defenses against all claims in order to maintain the ownership
    of all its assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (l)&#160;To comply strictly with the terms of the Exclusive
    Technology Consulting and Service Agreement and other agreements
    between Party A and the Company, perform its obligations under
    aforesaid agreements, and not commit any act or omission that
    would affect the validity and enforceability of such agreements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;This agreement shall inure to the benefit of and be
    binding upon the parties hereto and their respective successors
    and assignees. Without prior written approval of Party A, Party
    B can not assign, pledge or otherwise transfer any right,
    benefit or obligation under this agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Party B agrees that Party A can assign its rights and
    duties under this Agreement to a third party when it thinks
    necessary, in which case Party A only needs to give a written
    notice to Party B and no further consent of Party B is required.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;The execution, validity, interpretation, performance,
    amendment, termination and resolution of disputes in connection
    with this Agreement shall be governed by the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;Arbitration.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Both parties shall strive to settle any dispute, conflict, or
    claim arising from the interpretation or performance (including
    any issue relating to the existence, validity and termination of
    this Agreement) in connection with this Agreement through
    friendly consultation. In case no settlement can be reached
    within thirty (30)&#160;day after one party requests for the
    settlement, each party may submit such dispute to China
    International Economic and Trade Arbitration Commission (the
    &#147;CIETAC&#148;) for arbitration in accordance with its
    rules. The arbitration award shall be final and binding upon the
    parties.
</DIV>
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    4
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The seat of the arbitration shall be Beijing.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The language for the arbitration proceedings shall be Chinese.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    17.&#160;This Agreement shall be formed on the date of
    execution. And both parties hereto agree that the terms and
    conditions of this Agreement shall be effective as of the date
    on which Party B has obtained the loan and shall expire when
    both parties have fully performed their obligations under this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    18.&#160;Party B cannot terminate or revoke this Agreement
    unless (a)&#160;Party A commits a gross negligence, fraud or
    other material illegal acts; or (b)&#160;Party A goes bankrupt.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    19.&#160;This Agreement may not be amended or modified except
    with a written agreement reached by both parties. In case of
    anything not covered herein, both parties may sign a written
    supplementary agreement. Any amendment, modification, supplement
    or annex to this Agreement shall form an integral part of this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    20.&#160;This Agreement constitutes the entire agreement of the
    parties hereto with respect to the subject matters hereof and
    supersedes all prior verbal discussions or written agreements
    between the parties with respect to subject matters hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    21.&#160;This Agreement is severable. If any clause of this
    Agreement is held to be invalid or unenforceable, such
    invalidity or unenforceability shall have no effect on the
    validity or enforceability of the remainder of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    22.&#160;Each party should protect the confidentiality of the
    information concerning the other party&#146;s business,
    operation, financial situation or other confidential information
    obtained under this Agreement or during the performance of this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    23.&#160;Any obligation arising from or becoming due under this
    Agreement before the expiration or early termination of this
    Agreement shall survive such expiration or early termination.
    The Articles&#160;15, 16 and 22 of this Agreement shall survive
    the termination of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    24.&#160;This Agreement shall be executed in two originals, with
    each party holding one original. All originals shall have the
    same legal effect.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS WHEREOF</B>, each party has caused this Agreement
    to be executed by himself, its legal representative or its duly
    authorized representative as of the date first written above.
</DIV>
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    <BR>
    5
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    [Signature Page]
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A:&#160;&#160;Baidu Online Network Technology (Beijing)
    Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Legal Representative/Authorized Representative:&#160;<U>[manual
    signature]</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal:&#160;[Baidu Online Network Technology (Beijing) Co., Ltd.
    seal]
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>



<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B:&#160;&#160;Yazhu Zhang</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yazhu
    Zhang</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 9%; width: 42%;  align: left; border-bottom: 1pt solid #000000"></DIV>
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    <BR>
    6
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</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.33
<SEQUENCE>10
<FILENAME>h04360dexv4w33.htm
<DESCRIPTION>EX-4.33
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w33</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.33</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">EXCLUSIVE
    TECHNOLOGY CONSULTING AND SERVICES AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Exclusive Technology Consulting Services Agreement (this
    &#147;Agreement&#148;) is entered into in Beijing, PRC on
    February&#160;28, 2008 between the following two parties:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="15%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="83%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    12/F., Ideal International Plaza, No. 58 North-West 4th Ring,
    Haidian District, Beijing,<BR>
    PRC, 100080
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing BaiduPay Science and Technology Co., Ltd.</B>, (the
    &#147;Company&#148;)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Room 301, 3/F, Block D, Jia No. 18 Zhongguancun South Street,
    Haidian District,<BR>
    Beijing, PRC, 100081
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A is a wholly foreign-owned enterprise duly
    incorporated under the laws of the People&#146;s Republic of
    China (the &#147;PRC&#148;), which has the technology expertise
    and practical experience in the development and design of
    computer software, and also has rich experience and a team of
    professionals specializing in information technology and
    services;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B is a limited liability company duly incorporated
    in Beijing, PRC, which carries out the business of individually
    operating third party payment platform (provide online payment
    for
    <FONT style="white-space: nowrap">e-commerce);</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Since February 2008, Party A has been providing
    exclusive technology consulting and related services to Party B
    and Party B has agreed to accept such services. Both parties
    wish to continue this cooperation and sign a written agreement
    to stipulate their respective rights and obligations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE, </B>both parties, through negotiations, agree
    as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Exclusive Technology Consulting and Services; Sole and
    Exclusive Interests
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1&#160;During the term of this Agreement, Party A agrees, as
    the exclusive technology consulting and services provider of
    Party B, to provide the exclusive technology consulting and
    services to Party B in accordance with the terms and conditions
    of this Agreement (the content of such services is specified in
    Appendix&#160;1 hereto).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2&#160;Party B agrees to accept the exclusive technology
    consulting and services provided by Party A and further agrees
    that, during the term of this Agreement, Party B shall not
    accept such technology consulting and services for the aforesaid
    business from another party without the prior written consent of
    Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Calculation, Payment and Guarantee of the Fees for the
    Technology Consulting and Services (the &#147;Fee&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1&#160;Both parties agree to calculate and pay the Fee
    quarterly. At the end of each quarter, Party A shall inform
    Party B the consulting fee for previous quarter and provide a
    breakdown of such fee. .
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2&#160;Party B&#146;s shareholders shall pledge the equity
    interests of Party B to Party A for securing the Fee payable by
    Party B pursuant to this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Intellectual Property Rights
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.1&#160;Party A shall be the sole owner of the copyrights of
    the software designed by Party A and other relevant software,
    any intellectual property obtained through the research and
    development by Party A and any derivative rights arising from
    the performance of this Agreement
    <FONT style="white-space: nowrap">and/or</FONT> any
    other agreement reached by both parties, including, but not
    limited to, patent application rights, copyrights or other
    intellectual property rights of the software, technical
    documents and materials and the rights to license or transfer
    such intellectual property, etc.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2&#160;During the performance of this Agreement, if Party B
    needs to use Party A&#146;s software programs or systems, both
    parties shall sign a separate agreement setting forth the scope,
    method and fee of such license.
</DIV>
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</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Representations and Warranties
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1&#160;Party A hereby represents and warrants as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.1&#160;Party A is a wholly foreign-owned enterprise duly
    incorporated and validly existing under PRC law;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.2&#160;The execution and performance of this Agreement by
    Party A are within its corporate power and business scope. Party
    A has taken necessary corporate actions and obtained appropriate
    authorizations, and has obtained the necessary consents or
    approvals from other third parties or government agencies. The
    execution and performance of this Agreement by Party A do not
    violate the laws and contracts binding upon or influencing Party
    A;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.3&#160;Upon execution, this Agreement will constitute a
    legal, valid and binding obligation of Party A enforceable
    against Party A in accordance with its terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2&#160;Party B hereby represents and warrants as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.1&#160;Party B is a limited liability company duly
    incorporated and validly existing under the laws of the PRC,
    which carries out the business of individually operating third
    party payment platform (provide online payment for
    <FONT style="white-space: nowrap">e-commerce);</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.2&#160;The execution and performance of this Agreement by
    Party B are within its corporate power and business scope. Party
    B has taken necessary corporate actions and obtained appropriate
    authorizations, and has obtained the necessary consents or
    approvals from other third parties or government agencies. The
    execution and performance of this Agreement by Party B do not
    violate the laws and contracts binding upon or influencing Party
    B;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.3&#160;Upon execution, this Agreement will constitute a
    legal, valid and binding obligation of Party B enforceable
    against Party B in accordance with its terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Confidentiality
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.1&#160;Party B agrees to take all reasonable steps to protect
    and maintain the confidentiality of the confidential data and
    information acknowledged or received by Party B through
    accepting the exclusive consulting and services from Party A
    (collectively, the &#147;Confidential Information&#148;). Party
    B shall not disclose, give or transfer any Confidential
    Information to any third party without Party A&#146;s prior
    written consent. Upon termination of this Agreement, Party B
    shall, at Party A&#146;s request, return any and all documents,
    information or software containing any of such Confidential
    Information to Party A or destroy it at its own discretion, and
    delete all of such Confidential Information from any memory
    devices, and cease to use such Confidential Information.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.2&#160;Both parties acknowledge and confirm that any oral or
    written materials exchanged pursuant to this Agreement are
    confidential. Each party shall keep confidential all such
    materials and not disclose any such materials to any third party
    without the prior written consent from the other party except in
    the following situations: (a)&#160;such materials are or will
    become known by the public (through no fault of the receiving
    party); (b)&#160;any materials as required to be disclosed by
    the applicable laws or rules of the stock exchange; or
    (c)&#160;any materials disclosed by each party to its legal or
    financial advisors relating to the transactions contemplated by
    this Agreement, and such legal or financial advisors shall
    comply with the confidentiality provisions set forth in this
    Article&#160;5. Any disclosure of confidential information by
    the personnel of any party or by the institutions engaged by
    such party shall be deemed as a disclosure by such party, and
    such party shall be liable for the breach under this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.3&#160;Both parties agree that this Article&#160;5 shall
    survive the invalidity, cancellation, termination or
    unenforceability of this Agreement.
</DIV>
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    <BR>
    2
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Indemnity
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party B shall indemnify and hold harmless Party A from and
    against any losses, damages, liabilities or expenses arising
    from any litigation, claims or other request against Party A,
    which arises from or is caused by the content of consulting and
    services required by Party B.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Effective Date and Term
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1&#160;The term of this Agreement is ten (10)&#160;years
    unless terminated earlier as set forth herein or in accordance
    with the terms set forth in other agreements entered into by
    both parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.2&#160;This Agreement may be extended with the written consent
    of both parties at its expiration, and the extended term shall
    be determined by both parties through negotiation. If both
    parties fail to reach any agreement on such extension, this
    Agreement shall be extended for one (1)&#160;year automatically
    at its expiration (including any expiration of extended term)
    unless Party A informs Party B of its decision not to extend
    this Agreement with a written notice before the expiration date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.3&#160;If the duration of operation (including any extension
    thereof) of either party is expired or terminated for other
    reasons within the term set forth in Sections&#160;7.2 and 7.3
    hereof, this Agreement shall be terminated simultaneously,
    except in the situation where such party has assigned its rights
    and obligations in accordance with Article&#160;13 hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Termination
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.1&#160;Termination upon Expiration
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall be terminated on its expiration date unless
    it is extended in accordance with the provisions hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.2&#160;Early Termination
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    During the term of this Agreement, Party B shall not terminate
    this Agreement unless Party A engages in acts of gross
    negligence, fraud, other illegal acts or becomes bankrupt.
    Notwithstanding the foregoing provisions, Party A may terminate
    this Agreement at any time with a written notice to Party B
    given thirty (30)&#160;days in advance. During the term of this
    Agreement, if Party B breaches this Agreement and has not cured
    its breach within fourteen (14)&#160;days upon receipt of Party
    A&#146;s written notice of such breach, Party A may inform Party
    B with a written notice of the termination of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.3&#160;Survival
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The rights and obligations to both parties under
    Articles&#160;5, 10 and 12 shall continue to be effective upon
    the termination of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Governing Law
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The performance, interpretation and enforcement of this
    Agreement shall be governed by the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Dispute Resolution
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any dispute arising in connection with the interpretation and
    performance of the provisions of this Agreement shall be
    resolved by the parties in good faith through negotiations. In
    case no resolution can be reached by the parties within thirty
    (30)&#160;days after either party makes a request for a dispute
    resolution through negotiations, either party may refer such
    dispute to the China International Economic and Trade
    Arbitration Commission (the &#147;CIETAC&#148;) for arbitration
    in accordance with CIETAC&#146;s arbitration rules then in
    effect. The seat of arbitration shall be in Beijing, and the
    language of the proceedings shall be Chinese. The arbitral award
    shall be final and binding upon both parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;Force Majeure
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.1&#160;Force Majeure, which includes but not limited to acts
    of governments, acts of nature, fires, explosions, typhoons,
    floods, earthquakes, tides, lightning or war, means any
    unforeseen event that is beyond the party&#146;s reasonable
    control and cannot be prevented with reasonable care of the
    affected party. However, any
</DIV>
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    <BR>
    3
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    insufficiency of creditworthiness, capital or financing shall
    not be regarded as an event beyond the party&#146;s reasonable
    control. The party affected by Force Majeure and seeks for the
    exemption from performing the obligations under this Agreement
    shall inform the other party of such exemption and any action
    taken by it for performing this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.2&#160;In the event that the affected party is delayed in or
    prevented from performing its obligations under this Agreement
    by Force Majeure, and only to the extent of such delay or
    prevention, the affected party shall not be liable for the
    obligations under this Agreement. The affected party shall take
    appropriate measures to minimize or remove the effects of Force
    Majeure and attempt to resume the performance of the obligations
    delayed or prevented by the event of Force Majeure. Once the
    event of Force Majeure is removed, both parties agree to resume
    the performance of this Agreement using their best efforts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Notices
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notices or other communications required to be given by any
    party pursuant to this Agreement shall be written in English and
    Chinese and delivered personally or sent by registered mail or
    postage prepaid mail or by a recognized courier service or by
    facsimile transmission to the address of each relevant party or
    both parties set forth below or such other address or addressees
    as specified by such party from time to time. The date when the
    notice is deemed to be duly served shall be determined as
    follows: (a)&#160;a notice delivered personally is deemed duly
    served upon delivery; (b)&#160;a notice sent by mail is deemed
    duly served the tenth (10th) day after the date when the postage
    prepaid registered airmail was sent out (as is shown on the
    postmark), or the fourth (4th) day after the delivery date to
    the internationally-recognized courier service agency; and
    (c)&#160;a notice sent by facsimile transmission is deemed duly
    served upon the receipt time as is shown on the transmission
    confirmation for relevant documents.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="89%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Address: 12/F, Ideal Intl. Plaza, No. 58&#160;West-North
    4th&#160;Ring, Beijing PRC, 100080
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Attn: Haoyu Shen
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Fax: 86 10 8260-7009
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Tel: 86 10 8262-1188
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing BaiduPay Science and Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Address: Room 301, 3/F, Block D, Jia No. 18 Zhongguancun South
    Street, Haidian District, Beijing, PRC, 100081
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Attn: Jun Yu
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Fax: 86 10 82607008
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Tel: 86 10 82621188
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;Assignment
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.1&#160;Party B shall not assign its rights or obligations
    under this Agreement to any third party without the prior
    written consent of Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.2&#160;Party B hereby agrees that Party A may assign its
    rights and obligations under this Agreement as Party A deems
    necessary and such transfer shall only be subject to a written
    notice sent to Party B by Party A, without further consent from
    Party B required.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Entire Agreement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding Article&#160;7.1 hereof, both parties confirm
    that once this Agreement becomes effective, it shall constitute
    the entire agreement of both parties hereto with respect to the
    subject matters hereof and supersede all prior oral
    <FONT style="white-space: nowrap">and/or</FONT>
    written agreements and understandings by the parties with
    respect to the subject matters hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;Severability
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If any provision of this Agreement is judged to be invalid or
    unenforceable because it is inconsistent with applicable laws,
    such invalidity or unenforceability shall be only with respect
    to such laws, and the validity, legality and enforceability of
    the other provisions hereof shall not be affected.
</DIV>
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    <BR>
    4
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;Amendment or Supplement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any amendment or supplement to this Agreement shall be made by
    the parties in writing. The amendments or supplements duly
    executed by each party shall form an integral part of this
    Agreement and shall have the same legal effect as this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    17.&#160;Counterparts
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall be executed in two originals, with each
    party holding one original. All originals shall have the same
    legal effect.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    [No text below on this page]
</DIV>
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    <BR>
    5
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS WHEREOF, </B>each party hereto have caused this
    Agreement to be duly executed by its legal representative or a
    duly authorized representative on its behalf as of the date
    first set forth above.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="33%"></TD>
    <TD width="67%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal or Authorized Representative:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV><BR>
    <DIV style="font-size: 1pt; margin-left: 0%; width: 35%;  align: left; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: Beijing BaiduPay Science and Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="33%"></TD>
    <TD width="67%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal or Authorized Representative:&#160;</TD>
    <TD valign="bottom" align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Jun
    Yu</DIV><BR>
    <DIV style="font-size: 1pt; margin-left: 0%; width: 35%;  align: left; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Beijing BaiduPay Science and Technology Co., Ltd. seal]
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Appendix&#160;1</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Content
    of Technology Consulting and Services</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Server maintenance and supporting services for network
    platform management;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Development, renewal and update of service application
    software, and application of such software in
    <U>www.baifubao.com</U> and relevant connection domain name such
    as baifubao.com.cn, baifubao.cn, baifubao.net.cn, baifubao.net
    and other website owned and operated by Party B;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Development, renewal and update of application software
    for online user;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="white-space: nowrap">4.&#160;E-commerce</FONT>
    technical service, including but not limited to services for
    design of
    <FONT style="white-space: nowrap">e-commerce</FONT>
    platform and maintenance;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Training for technical and professional staff;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Provide labor supporting as Party B&#146;s request,
    including but not limited to lending or dispatching related
    staff (Party B shall burden the expenses for such staff);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Other services agreed by both parties.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    7
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.33</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Supplementary
    Agreement to the<BR>
    Exclusive Technology Consulting and Services Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="89%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Baidu Online Network Technology (Beijing) Co., Ltd.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No.&#160;10 Shangdi 10th Street, Haidian District, Beijing
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing BaiduPay Science and Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No.&#160;10 Shangdi 10th Street, Haidian District, Beijing
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (Collectively, the &#147;Parties&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS</B>, Party A and Party B have made a certain
    Exclusive Technology Consulting and Services Agreement dated
    February&#160;28, 2008 (the &#147;Original Agreement&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE, </B>the Parties agree through friendly
    negotiation to amend the Original Agreement as follows on
    April&#160;22, 2010:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;The Parties agree to amend Section&#160;2.1 of the
    Original Agreement as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The original term is amended as &#147;the Parties agree to
    calculate and pay the Fee under this Agreement in accordance
    with the methods listed on Appendix&#160;2 hereof, and Party A
    is entitled to decide at its sole discretion the Fee under this
    Agreement
    <FONT style="white-space: nowrap">and/or</FONT> its
    calculation method.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;This Agreement is an integral part of this Agreement. If
    there is any consistency between this Agreement and the Original
    Agreement, this Agreement shall prevail. Any matter that is not
    provided under this Agreement shall be governed by the Original
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;This Agreement is made in two counterparts with each
    Party holding one copy. Each copy has the same legal effect and
    will be effective upon signature and affixture of seals by the
    Parties.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A:&#160;Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Legal
    representative/authorized representative</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (seal of Baidu Online Network Technology (Beijing) Co., Ltd.)
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B:&#160;Beijing BaiduPay Science and Technology Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>     By&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Legal
    representative/authorized representative</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (seal of Beijing BaiduPay Science and Technology Co., Ltd.)
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.34
<SEQUENCE>11
<FILENAME>h04360dexv4w34.htm
<DESCRIPTION>EX-4.34
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w34</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.34</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Operating
    Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Operating Agreement (this &#147;Agreement&#148;) is entered
    into among the following parties in Beijing, PRC as of
    February&#160;28, 2008:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="89%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    12/F., Ideal International Plaza, No. 58 North-West
    4th&#160;Ring, Haidian District, Beijing, PRC, 100080
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing BaiduPay Science and Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Room 301, 3/F, Block D, Jia No. 18 Zhongguancun South Street,
    Haidian District, Beijing, PRC, 100081
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Jun Yu</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>ID No.:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    310226197403045510
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party D:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Netcom Science Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    12/F., Ideal International Plaza, No. 58 North-West
    4th&#160;Ring, Haidian District, Beijing, PRC, 100080
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">WHEREAS:</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A is a wholly foreign-owned enterprise duly
    incorporated and validly existing under the laws of the
    People&#146;s Republic of China (the &#147;PRC&#148;), which has
    the technology expertise and practical experience in the
    development and design of computer software, and also has rich
    experience and a team of professionals specializing in
    information technology and service;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B is a limited liability company duly incorporated
    and validly existing under PRC law, which carries out the
    business of individually operating third party payment platform
    (provide online payment for
    <FONT style="white-space: nowrap">e-commerce);</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party C and Party D are shareholders of Party B, in
    which Party C owns <B> </B><U>9</U>% and Party D owns <B>
    </B><U>91</U>% of the equity interest;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Party A has established a business relationship with
    Party B by entering into an Exclusive Technology Consulting and
    Services Agreement ( the &#147;Services Agreement&#148;), a Web
    Layout Copyright License Agreement, a Trademark License
    Agreement and a Domain Name License Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Pursuant to the above-mentioned agreements between Party
    A and Party B, Party B shall pay certain sums of money to Party
    A. However, no account payable under those agreements has been
    paid, and the daily operations of Party B will have a material
    effect on Party B&#146;s ability to pay such account payable to
    Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE, </B>through negotiations, all parties to this
    Agreement hereby agree as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A agrees, subject to the satisfaction of the
    relevant provisions herein by Party B, to be the guarantor of
    Party B in the contracts, agreements or transactions entered
    into between Party B and any third party in connection with
    Party B&#146;s business and operations, to provide full
    guarantees for the performance of such contracts, agreements or
    transactions by Party B. As counter-guarantee, Party B agrees to
    pledge the accounts receivable in its operations and all of its
    assets to Party A. According to the aforesaid guarantee
    arrangement, Party A, when necessary, is willing to enter into
    written guarantee contracts with Party B&#146;s counterparties
    to assume the guarantor&#146;s liabilities. Party B, Party C and
    Party D shall take all necessary actions (including, but not
    limited to, executing the relevant documents and filing the
    relevant registrations) to carry out the counter-guarantee
    arrangement with Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;In consideration of the requirements of Article&#160;1
    hereof and to ensure the performance of the various business
    agreements between Party A and Party B and the payment by Party
    B of the amounts payable to Party A thereunder, Party B,
    together with its shareholders Party C and Party D, hereby
    jointly agree that, without Party A&#146;s prior written
    consent, Party B shall not engage in any transaction that may
    materially affect its assets, liabilities, rights or operations
    (except that Party B may, in the ordinary course of its
    business, enter into business contracts or
</DIV>
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</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    agreements, sell or purchase assets and create liens in favor of
    relevant counter parties as required by law.), including, but
    not limited to, the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1&#160;To borrow money from any third party or assume any debt;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2&#160;To sell to or acquire from any third party any asset or
    rights, including, but not limited to, any intellectual property
    rights;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3&#160;To provide guarantee for any third party using its
    assets or intellectual property rights as collaterals;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.4&#160;To assign to any third party its business contracts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;In order to ensure the performance of the various
    business agreements between Party A and Party B and the payment
    by Party B of the amounts payable to Party A thereunder, Party
    B, together with its shareholders Party C and Party D, hereby
    jointly agree to accept advices and guidance provided by Party A
    from time to time relating to its corporate policies on matters
    such as employment and dismissal of employees, daily operations
    and management, and financial management.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Party B, together with its shareholders Party C and
    Party D, hereby jointly agree that Party C and Party D shall
    appoint candidates recommended by Party A as directors of Party
    B, and Party B shall appoint Party A&#146;s senior executive
    officers recommended by Party A as its president, chief
    financial officer and other senior executive officers. If any of
    the above-mentioned senior executive officers of Party A leaves
    Party A, whether voluntarily or as a result of dismissal by
    Party A, he or she shall also lose
    <FONT style="white-space: nowrap">his/her</FONT>
    right to hold any position at Party B, and Party B shall appoint
    other senior executive officers of Party A recommended by Party
    A to fill such a position. The persons recommended by Party A in
    accordance with this Article&#160;4 shall comply with the legal
    requirements regarding the qualifications of directors,
    presidents, chief financial officers, and other senior executive
    officers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Party B, together with its shareholders Party C and
    Party D, hereby jointly agree and confirm that Party B shall
    first seek a guarantee from Party A if Party B needs any
    guarantee for its performance of any of its contracts or for any
    borrowing for working capital purposes in the course of its
    operations. In such cases, Party A shall have the right, but not
    the obligation, to provide the appropriate guarantee to Party B
    at Party A&#146;s sole discretion. If Party A decides not to
    provide such a guarantee, Party A shall immediately issue a
    written notice to Party B and Party B may seek a guarantee from
    third parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;In the event that any of the agreements between Party A
    and Party B terminates or expires, Party A shall have the right,
    but not the obligation, to terminate all agreements between
    Party A and Party B including, but not limited to, the Services
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Any amendment or supplement to this Agreement shall be
    made in writing. The amendment or supplement duly executed by
    all parties shall form an integral part of this Agreement and
    shall have the same legal effect as this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Should any provision of this Agreement be held invalid
    or unenforceable because of inconsistency with applicable laws,
    such provision shall be invalid or unenforceable only to the
    extent of such applicable laws without affecting the validity or
    enforceability of the remainder of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Party B shall not assign its rights and obligations
    under this Agreement to any third party without the prior
    written consent of Party A. Party B hereby agrees that Party A
    may assign its rights and obligations under this Agreement as
    Party A sees fit, in which case Party A only needs to give a
    written notice to Party B and no further consent of Party Bs is
    required.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Each party acknowledges and confirms that any oral or
    written materials exchanged pursuant to this Agreement are
    confidential. Each party shall keep confidential all such
    materials and not disclose any such materials to any third party
    without the prior written consent from the other party except in
    the following situations: (a)&#160;such materials are or will
    become known by the public (through no fault of the receiving
    party); (b)&#160;any materials as required to be disclosed by
    the applicable laws or rules of the stock exchange; or
    (c)&#160;any materials disclosed by each party to its legal or
    financial advisors relating to the transactions contemplated by
    this Agreement, and such legal or financial advisors shall
    comply with the confidentiality provisions set forth in this
    Article&#160;10. Any
</DIV>
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    <BR>
    2
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    disclosure of confidential information by the personnel of any
    party or by the institutions engaged by such party shall be
    deemed as a disclosure by such party, and such party shall be
    liable for the breach under this Agreement. This Article&#160;10
    shall survive the invalidity, cancellation, termination or
    unenforceability of this Agreement for any reason.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;This Agreement shall be governed by and interpreted in
    accordance with the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Any dispute arising in connection with the
    interpretation and performance of the provisions of this
    Agreement shall be resolved by the parties in good faith through
    negotiations. In case no resolution can be reached by the
    parties through negotiations, either party may refer such
    dispute to the China International Economic and Trade
    Arbitration Commission (the &#147;CIETAC&#148;) for arbitration
    in accordance with CIETAC&#146;s arbitration rules then in
    effect. The seat of arbitration shall be in Beijing, and the
    language of the proceedings shall be Chinese. The arbitral award
    shall be final and binding upon both of the Parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;This Agreement shall be executed by a duly authorized
    representative of each party and become effective as of the date
    first written above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Notwithstanding Article&#160;13 hereof, once effective,
    this Agreement shall constitute the entire agreement of the
    parties hereto with respect to the subject matters hereof and
    supersede all prior oral
    <FONT style="white-space: nowrap">and/or</FONT>
    written agreements and understandings by the parties with
    respect to the subject matters hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;The term of this Agreement is ten (10)&#160;years
    unless terminated earlier in accordance with the provisions of
    this Agreement or related agreements entered into by the
    parties. This Agreement may be extended only with the written
    consent of Party A before its expiration. The term of the
    extension shall be decided by the parties through negotiation.
    If the duration of operation (including any extension thereof)
    of Party A or Party B is expired or terminated for other reasons
    within the aforesaid term of this Agreement, this Agreement
    shall be terminated simultaneously, unless such party has
    already assigned its rights and obligations hereunder in
    accordance with Article&#160;9 hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;This Agreement will terminate on the expiration date
    unless it is renewed in accordance with the relevant provision
    herein. During the term of this Agreement, Party B shall not
    terminate this Agreement. Notwithstanding the above stipulation,
    Party A shall have the right to terminate this Agreement at any
    time by issuing a thirty (30)&#160;days&#146; prior written
    notice to Party B.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    17.&#160;This Agreement shall be executed in four originals,
    with each party holding one original. All originals shall have
    the same legal effect.
</DIV>
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    <BR>
    3
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS THEREOF, </B>each party hereto has caused this
    Agreement to be duly executed by himself/herself or a duly
    authorized representative on its behalf as of the date first
    written above.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="28%"></TD>
    <TD width="72%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Authorized
    Representative:&#160;<DIV style="display:inline; text-align:left;">/s/&#160;&#160;</TD>
    <TD align="left">
    Haoyu Shen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 28%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 28%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: Beijing BaiduPay Science and Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="28%"></TD>
    <TD width="72%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Authorized
    Representative:&#160;<DIV style="display:inline; text-align:left;">/s/&#160;&#160;</TD>
    <TD align="left">
    Jun Yu</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 28%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 28%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    [Beijing BaiduPay Science and Technology Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party C: Jun Yu</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="13%"></TD>
    <TD width="87%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature:&#160;<DIV style="display:inline; text-align:left;">/s/&#160;&#160;</TD>
    <TD align="left">
    Jun Yu</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 13%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 13%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 13%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party D: Beijing Netcom Science Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 13%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Signature:&#160;<DIV style="display:inline; text-align:left;">/s/&#160;&#160;Robin
    Yanhong Li</DIV>
</DIV>

<DIV style="font-size: 2pt; margin-left: 13%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 13%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Beijing Netcom Science Technology Co., Ltd. seal]
</DIV>
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    <BR>
    4
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.34</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Supplementary
    Agreement to the Operating Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="10%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="88%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    12/F., Ideal International Plaza, No. 58 North-West
    4th&#160;Ring, Haidian District, Beijing
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <B>Beijing BaiduPay Science and Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    301 3/F, Jia 18 Zhongguancun Nandajie, Haidian District, Beijing
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>CAI Hu</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    ID No.
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    320106197212162416
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party D:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    <B>Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    12/F., Ideal International Plaza, No. 58 North-West
    4th&#160;Ring, Haidian District, Beijing
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (Collectively, the &#147;Parties&#148;)
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">WHEREAS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A, Party B, Party C and YU Jun, being an original
    shareholder of Party B, have made a certain Operating Agreement
    dated February&#160;28, 2008 (the &#147;Original
    Agreement&#148;);&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party C is a shareholder of Party B, and Party B&#146;s
    current shareholders comprise of Party D and Party C.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE, </B>the Parties agree through friendly
    negotiation to amend the Original Agreement as follows on
    April&#160;22, 2010:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;The Parties agree to amend Section&#160;5 of the
    Original Agreement as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The original term which reads:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;Party B, together with its shareholder Party C, hereby
    jointly agree and confirm that Party B shall first seek a
    guarantee from Party A if Party B needs any guarantee for its
    performance of any of its contracts or for any borrowing for
    working capital purposes in the course of its operations. In
    such cases, Party A shall have the right, but not the
    obligation, to provide the appropriate guarantee to Party B at
    Party A&#146;s sole discretion. If Party A decides not to
    provide such a guarantee, Party A shall immediately issue a
    written notice to Party B and Party B may seek a guarantee from
    third parties.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Is amended as:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;Party B, together with its shareholder Party C, hereby
    jointly agree and confirm that Party B shall first seek a
    guarantee from Party A if Party B needs any guarantee for its
    performance of any of its contracts or for any borrowing for
    working capital purposes in the course of its operations. In
    such cases, Party A shall have the obligation to provide
    appropriate guarantee to Party B at Party A&#146;s sole
    discretion.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;This Agreement is an integral part of this Agreement. If
    there is any consistency between this Agreement and the Original
    Agreement, this Agreement shall prevail. Any matter that is not
    provided under this Agreement shall be governed by the Original
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;This Agreement is made in four counterparts with each
    Party holding one copy. Each copy has the same legal effect and
    will be effective upon signature and affixture of seals by the
    Parties.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A:&#160;Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Legal
    representative/authorized representative</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (seal of Baidu Online Network Technology (Beijing) Co., Ltd.)
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: Beijing BaiduPay Science and Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Legal
    representative/authorized representative</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (seal of Beijing BaiduPay Science and Technology Co., Ltd.)
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party C: CAI Hu</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;CAI
    Hu</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party D: Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Legal
    representative/authorized representative</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (seal of Beijing Baidu Netcom Science Technology Co., Ltd.)
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    2
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</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.35
<SEQUENCE>12
<FILENAME>h04360dexv4w35.htm
<DESCRIPTION>EX-4.35
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w35</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.35</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Webpage
    Layout Copyright License Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Web Layout Copyright License Agreement (this
    &#147;Agreement&#148;) is entered into as of February&#160;28,
    2008 between the following two parties in Beijing, PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="15%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="83%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 7pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>The Licensor:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 7pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="white-space: nowrap">12/F.,</FONT> Ideal
    International Plaza, No.&#160;58 North-West 4th&#160;Ring,
    Haidian District, Beijing, PRC, 100080
</TD>
</TR>
<TR valign="bottom" style="line-height: 7pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>The Licensee:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing BaiduPay Science and Technology Co., Ltd.</B> (the
    &#147;Company&#148;)
</TD>
</TR>
<TR valign="bottom" style="line-height: 7pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Room&#160;301, 3/F, Block D, Jia No.&#160;18 Zhongguancun South
    Street, Haidian District, Beijing, PRC, 100081
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">WHEREAS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;The Licensor, a wholly foreign-owned enterprise
    registered in Beijing under the laws of the People&#146;s
    Republic of China (the &#147;PRC&#148;), owns the web layout
    copyright of the following websites: <U>www.baifubao.com</U>
    (the&#160;&#147;Copyright&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;The Licensee, a company registered in Beijing, PRC under
    the laws of the PRC, which carries out the business of online
    payment for
    <FONT style="white-space: nowrap">e-commerce</FONT>
    and operates www.baifubao.com (the &#147;Websites&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;The Licensor agrees to license the right to use the
    Copyright to the Licensee in accordance with the terms and
    conditions set forth herein and the Licensee agrees to accept
    the license on the terms and conditions set forth herein.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE</B>, the parties, upon negotiations, agree as
    follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Granting of License
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1&#160;The Web Layout Copyright
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1.1&#160;Upon the terms and conditions hereinafter set forth,
    the Licensor hereby grants to the Licensee and the Licensee
    hereby accepts the right to use the Copyright in the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1.2&#160;The Licensor shall have the sole and exclusive
    ownership of the Copyright, including all improvements, updates,
    derivative products and intellectual property rights thereof,
    whether such improvements, updates, derivative products and
    intellectual property rights are made by the Licensor or the
    Licensee. The rights and obligations under this paragraph shall
    survive the termination of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2&#160;Scope
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2.1&#160;The right to use the Copyright granted by the
    Licensor to the Licensee is effective only for the business
    operation of the Websites by the Licensee. The Licensee agrees
    that it will not use, or authorize any use, directly or
    indirectly, of the Copyright on any other website or media,
    unless otherwise provided for in this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2.2&#160;The right to use the Copyright granted by the
    Licensor to the Licensee is effective only in the PRC (not
    include Hong Kong, Macau and Taiwan). The Licensee agrees not to
    use or authorize any use of the Copyright, directly or
    indirectly, in any other region.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2.3&#160;The Licensor shall not license a third party to use
    the Copyright without the consent of the Licensee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Terms of Payment
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Licensee agrees to pay the Licensor license fees.
    Calculation and payment of amounts shall be determined
    separately.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Intellectual Property and Confidentiality
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.1&#160;The Licensee shall use its reasonable effort to protect
    and maintain the confidentiality of any and all data and
    information from the Licensor marked as or known by the Licensee
    to be confidential (collectively, the &#147;Confidential
    Information&#148;). Upon termination of this Agreement, the
    Licensee shall return any Confidential Information to the
    Licensor or destroy it itself, delete any Confidential
    Information from any electronic devices and cease to use such
    Confidential Information as required by the Licensor. The
    Licensee shall not disclose, grant or transfer any Confidential
    Information to any third party without the Licensor&#146;s
    written consent.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2&#160;Both parties agree that this Article&#160;4 shall
    survive the invalidity, amendment, cancellation, termination or
    unenforceability of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Representations and Warranties
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1&#160;The Licensor represents and warrants as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.1&#160;It is a wholly foreign-owned enterprise duly
    registered in Beijing, PRC and validly existing under the laws
    of the PRC;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.2&#160;It has the exclusive ownership of the Copyright.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.3&#160;The execution and performance of this Agreement by it
    are within its corporate power and business scope. It has taken
    all necessary actions and obtained all necessary consents or
    approvals by third parties or government agencies. The execution
    and performance of this Agreement by it do not violate the laws
    and contracts binding upon or influencing it;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.4&#160;Upon execution, this Agreement will constitute a
    legal, valid and binding obligation of the Licensor enforceable
    against the Licensor in accordance with its terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2&#160;The Licensee represents and warrants as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.1&#160;It is a company duly registered in PRC and validly
    existing under the laws of the PRC;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.2&#160;The execution and performance of this Agreement by it
    are within its corporate power and business scope. It has taken
    all necessary actions and obtained all necessary consents or
    approvals by third parties or government agencies. The execution
    and performance of this Agreement by it do not violate the laws
    and contracts binding upon or influencing it;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.3&#160;Upon execution, this Agreement will constitute a
    legal, valid and binding obligation of the Licensee enforceable
    against the Licensee in accordance with its terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Licensor&#146;s Ownership and Protection of
    Licensor&#146;s Rights
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.1&#160;The Licensor agrees, during the term of this Agreement
    and thereafter, not challenge the ownership and other rights of
    the Copyright by the Licensor, the effectiveness of this
    Agreement or conduct any other action that is deemed by the
    Licensor as harmful to its ownership, other rights and license
    of the Copyright.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.2&#160;The Licensee agrees to provide necessary assistance to
    the Licensor to protect the licensor&#146;s rights with respect
    to the Copyrights. In the event that third parties make claims
    with respect to the Copyright, the Licensor may, at its
    discretion, respond to such claim in its own name, in the name
    of the Licensee or in the name of both the Licensor and the
    Licensee. If any third party infringes upon the Copyright, the
    Licensee shall notify the Licensor immediately in writing of
    such infringement of which the Licensee has knowledge, and only
    the Licensor has the right to take actions against such
    infringing parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.3&#160;The Licensee agrees that it shall use the Copyright
    only in accordance with this Agreement and shall not to use the
    Copyright in any manner that could be deemed by the Licensor to
    be fraudulent, misleading or otherwise harmful to the Copyright
    or the reputation of the Licensor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Effective Date and Term
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1&#160;This Agreement shall be executed and become effective
    as of the date first set forth above. The term of this Agreement
    is five (5)&#160;years unless terminated earlier pursuant to
    this Agreement.
</DIV>
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    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.2&#160;This Agreement may be extended automatically for one
    year upon its expiration (including the expiration of any
    extended term) unless the Licensor prior to the expiration
    hereof gives written notice not to extend this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Termination
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1&#160;This Agreement shall terminate on the date of
    expiration or the date of the expiration of extended terms when
    the Licensor notifies the Licensee in writing not to extend this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.2&#160;Without prejudice to any legal or other rights or
    remedies of the party who asks for termination of this
    Agreement, any party has the right to terminate this Agreement
    immediately with written notice to the other party in the event
    the other party materially breaches this Agreement including but
    not limited to Article&#160;3 of this Agreement and fails to
    cure such breach within 30&#160;days from the date the breaching
    party receives the written notice of its breach from the
    non-breaching party. During the term of this Agreement, the
    Licensor may terminate this Agreement at any time by providing
    written notice to the Licensee within 30&#160;days before such
    termination.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.3&#160;Articles&#160;1.1.2,&#160;3, 5 and 10 shall survive the
    termination or expiration of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Effect of Termination or Expiration
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Upon and after the expiration or termination of this Agreement,
    all rights granted to the Licensee hereunder shall forthwith
    revert to the Licensor, which shall be free to license the right
    to use the Copyright to others and the Licensee cease any
    further direct or indirect use of the Copyright.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Force Majeure
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.1&#160;Force Majeure, which includes but not limited to acts
    of governments, acts of nature, fires, explosions, typhoons,
    floods, earthquakes, tides, lightning or war, means any
    unforeseen event that is beyond the party&#146;s reasonable
    control and cannot be prevented with reasonable care of the
    affected party. However, any insufficiency of creditworthiness,
    capital or financing shall not be regarded as an event beyond
    the party&#146;s reasonable control. The party affected by Force
    Majeure and seeking exemption from performing the obligations
    under this Agreement shall inform the other party of such
    exemption and any action taken by it in performing this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.2&#160;In the event that the affected party is delayed in or
    prevented from performing its obligations under this Agreement
    by Force Majeure, and only to the extent such delay and
    prevention, the affected party shall not be liable for
    obligations under this Agreement. The affected party shall take
    appropriate measures to minimize or remove the effects of Force
    Majeure and attempt to resume the performance of the obligations
    that were delayed or prevented by the event of Force Majeure.
    Once the event of Force Majeure is removed, both parties agree
    to resume the performance of this Agreement using their best
    efforts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Settlement of Disputes
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any dispute arising in connection with the interpretation and
    performance of the provisions of this Agreement shall be
    resolved by the parties in good faith through negotiations. In
    case no resolution can be reached by the Parties within thirty
    (30)&#160;days after either party makes a request for a dispute
    resolution through negotiations, either party may refer such
    dispute to the China International Economic and Trade
    Arbitration Commission (the &#147;CIETAC&#148;) for arbitration
    in accordance with CIETAC&#146;s arbitration rules then in
    effect. The seat of arbitration shall be in Beijing, and the
    language of the proceedings shall be Chinese. The arbitral award
    shall be final and binding upon both parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;Notices
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notices or other communications required to be given by any
    party pursuant to this Agreement shall be written in English and
    Chinese and delivered personally or sent by registered mail or
    postage prepaid mail or by a recognized courier service or by
    facsimile transmission to the address of each relevant party or
    both parties set forth below or such other address or addressees
    as specified by such party from time to time. The date when the
    notice is deemed to be duly served shall be determined as
    follows: (a)&#160;a notice delivered personally is deemed duly
    served upon delivery; (b)&#160;a notice sent by mail is deemed
    duly served the tenth (10th) day after the date when the postage
    prepaid registered airmail was sent out (as is shown on the
    postmark), or the fourth (4th) day after the delivery date
</DIV>
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    <BR>
    3
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    to the internationally-recognized courier service agency; and
    (c)&#160;a notice sent by facsimile transmission is deemed duly
    served upon the receipt time as is shown on the transmission
    confirmation for relevant documents.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="89%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Licensor:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Address:
    <FONT style="white-space: nowrap">12/F,</FONT> Ideal
    Intl. <BR>
    Plaza, No.&#160;58<BR>
    West-North 4th&#160;Ring, Beijing <BR>
    PRC, 100080
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Attn: Haoyu Shen
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Facsimile: 86 10
    <FONT style="white-space: nowrap">8260-7009</FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Tel: 86 10
    <FONT style="white-space: nowrap">8262-1188</FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Licensee:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing BaiduPay Science and Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Address: Room&#160;301, 3/F, Block D, Jia No.&#160;18
    Zhongguancun South Street, Haidian District, Beijing, PRC, 100081
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Attn: Jun Yu
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Facsimile: 86 10
    <FONT style="white-space: nowrap">8260-7008</FONT>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Tel: 86 10
    <FONT style="white-space: nowrap">8262-1188</FONT>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Assignment and Sublicense
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.1&#160;The rights and obligations licensed by the Licensor to
    the Licensee pursuant to this Agreement shall not be assigned,
    pledged or sublicensed without the prior written consent of the
    Licensor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.2&#160;The Licensee hereby agrees that the Licensor may
    transfer the rights and obligations under this Agreement to any
    third party at its discretion, and such transfer shall only be
    subject to a written notice to the Licensee by the Licensor, and
    no further consent from the Licensee will be required.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;Applicable Law
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The validity, performance and interpretation of this Agreement
    shall be governed by the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Amendment or Supplement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The parties may amend or supplement this Agreement by written
    agreement. The amendments or supplements to this Agreement duly
    executed by both parties shall form an integral part of this
    Agreement and shall have the same legal effect as this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;Severability
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If any provision of this Agreement is judged to be invalid or
    unenforceable because it is inconsistent with applicable laws,
    such invalidity or unenforceability shall be only with respect
    to such laws, and the validity, legality and enforceability of
    the other provisions hereof shall not be affected.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;Appendices
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Appendices to in this Agreement shall form an integral part
    of this Agreement and shall have the same legal effect as this
    Agreement.
</DIV>
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    <BR>
    4
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS WHEREOF, </B>each party hereto has caused this
    Agreement to be duly executed on its behalf by its legal
    representative or a duly authorized representative as of the
    date first set forth above.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Licensor: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="24%"></TD>
    <TD width="76%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 24%; width: 23%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Title:&#160;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 9pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Licensee: Beijing BaiduPay Science and Technology Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="24%"></TD>
    <TD width="76%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Jun
    Yu</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 24%; width: 23%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Title:&#160;</TD>
    <TD align="left">

</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Beijing BaiduPay Science and Technology Co., Ltd. seal]
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    5
</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.36
<SEQUENCE>13
<FILENAME>h04360dexv4w36.htm
<DESCRIPTION>EX-4.36
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w36</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 16pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.36</FONT></B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Proxy
    Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Proxy Agreement (this &#147;Agreement&#148;) is entered
    into between the following two parties in Beijing, PRC.
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A: Hu Cai, </B>a citizen of the People&#146;s Republic
    of China (the &#147;PRC&#148;)
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>, a wholly foreign-owned enterprise registered in
    Beijing, PRC under the laws of the PRC
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS</B>
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A is a shareholder of BaiduPay Science and
    Technology Co., Ltd. (the &#147;Company&#148;) and owns 9% of
    the equity interests.
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party A is willing to entrust the person designated by
    Party B with full authority to exercise his shareholder&#146;s
    voting right at the Company&#146;s shareholders&#146; meetings.
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE</B>, the parties agree as follows:
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A hereby agrees to irrevocably entrust the person
    designated by Party B to exercise on his behalf all
    shareholder&#146;s voting rights and other shareholder&#146;s
    rights at the shareholders&#146; meeting of the Company in
    accordance with PRC law and the Company&#146;s articles of
    association, including, but not limited to, with respect to the
    sale or transfer of all or part of Party A&#146;s equity
    interests in the Company and the appointment and election of the
    directors and chairman of the Company.
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B agrees to designate a person to accept the
    entrustment by Party A pursuant to Article 1 of this Agreement,
    and such person shall represent Party A in the exercise of Party
    A&#146;s shareholder&#146;s voting rights and other
    shareholder&#146;s rights pursuant to this Agreement.
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party A hereby acknowledges that, regardless how his
    equity interests in the Company will change, he shall entrust
    the person designated by Party B with all of his
    shareholder&#146;s voting rights and other shareholder&#146;s
    rights. If Party A transfers
    <FONT style="white-space: nowrap">his/her</FONT>
    equity interests in the Company to any individual or company,
    other than Baidu.com, Inc., Party B, or the individuals or
    entities designated by Party B (each, a &#147;Transferee&#148;),
    Party A shall cause such Transferee to, concurrently with the
    execution of the equity transfer documents, sign an agreement
    with the same terms and conditions as this Agreement to entrust
    the person designated by Party B with the shareholder&#146;s
    voting rights and other shareholder&#146;s rights of the
    Transferee.
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Party A hereby acknowledges that if Party B withdraws
    the appointment of the relevant person to whom Party A has
    entrusted his shareholder&#146;s voting rights and other
    shareholder&#146;s rights, he will withdraw his authorization
    for this person and authorize other persons designated by Party
    B to exercise his shareholder&#146;s voting rights and other
    shareholder&#146;s rights at the shareholders&#146; meeting of
    the Company.
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;This Agreement shall become effective as of the date it
    is duly executed by the parties&#146; authorized representatives.
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;The term of this Agreement shall be ten (10)&#160;years
    and may be extended by agreement between the parties upon the
    expiration hereof.
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Any amendment to,
    <FONT style="white-space: nowrap">and/or</FONT>
    cancellation of, this Agreement shall be agreed by the parties
    in writing.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Hu Cai</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Hu
    Cai</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 9%; width: 23%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="24%"></TD>
    <TD width="76%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Haoyu
    Shen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 24%; width: 23%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 9%; width: 23%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement is agreed and accepted by:
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Beijing BaiduPay Science and Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="24%"></TD>
    <TD width="76%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Cai
    Hu</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 24%; width: 23%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Cai
    Hu</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 9%; width: 23%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Beijing BaiduPay Science and Technology Co., Ltd. seal]
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.37
<SEQUENCE>14
<FILENAME>h04360dexv4w37.htm
<DESCRIPTION>EX-4.37
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w37</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.37</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">EQUITY
    PLEDGE AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Equity Pledge Agreement (this &#147;Agreement&#148;) is
    entered into in Beijing, PRC by the following parties:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Pledgee:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="89%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Legal Address:
    <FONT style="white-space: nowrap">12/F.,</FONT> Ideal
    International Plaza, No.&#160;58 <BR>
    North-West 4th&#160;Ring, Haidian District, Beijing,<BR>
    PRC, 100080
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Pledgor:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Hu Cai</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    ID card No.: 320106197212162416
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS,</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A (the &#147;Pledgee&#148;), a wholly
    foreign-owned enterprise registered in Beijing, the
    People&#146;s Republic of China (the &#147;PRC&#148;), has been
    licensed by the relevant PRC government authorities to carry on
    the business of developing and manufacturing computer programs,
    providing technical consulting and services for self-made
    products, constructing computer network systems, selling
    self-made products (except for items that have not obtained
    specified approvals).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B (the &#147;Pledgor&#148;), is a citizen of the
    PRC. The Pledgor owns 9% of the equity interest in Beijing
    BaiduPay Science and Technology Co., Ltd., a limited liability
    company registered in Beijing, PRC (the &#147;Company&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party A made a loan in an amount of RMB 9,000,000
    (hereinafter the &#147;Loan&#148;) to Party B and the parties
    executed a loan agreement (the &#147;Loan Agreement&#148;) on
    <B>[Date].</B>&#160;&#160;The term of the Loan is 10&#160;years
    commencing from the execution date of the Loan Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;In order to ensure that Party B will perform its
    obligations under the Loan Agreement, the Pledgor agrees to
    pledge all his equity interest in the Company as security for
    the performance of his obligations under the Loan Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE</B>, the Pledgee and the Pledgor through
    friendly negotiations hereby enter into this Agreement based
    upon the following terms:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Definitions and Interpretation
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Unless otherwise provided in this Agreement, the following terms
    shall have the following meanings:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1&#160;<I>&#147;Pledge&#148;:</I>&#160;&#160;refers to the
    full content of Article&#160;2 hereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2&#160;<I>&#147;Equity Interest&#148;:</I>&#160;&#160;refers
    to all of the equity interest in the Company legally held by the
    Pledgor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.3&#160;<I>&#147;Rate of Pledge&#148;:</I>&#160;&#160;refers to
    the ratio between the value of the Pledge under this Agreement
    and the total amount of the Loan.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4&#160;<I>&#147;Term of Pledge&#148;:</I>&#160;&#160;refers to
    the period provided for under Article&#160;3.2 hereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.5&#160;<I>&#147;Principal
    Agreement&#148;:</I>&#160;&#160;refers to the Loan Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.6&#160;<I>&#147;Event of Default&#148;:</I>&#160;&#160;refers
    to any event listed in Article&#160;7.1 hereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.7&#160;<I>&#147;Notice of Default&#148;:</I>&#160;&#160;refers
    to the notice of default issued by the Pledgee in accordance
    with this Agreement.
</DIV>
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</DIV><!-- END PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Pledgor agrees to pledge his Equity Interest in the Company
    to the Pledgee as security for his obligations under the Loan
    Agreement. The term &#147;Pledge&#148; under this Agreement
    refers to the right of the Pledgee to be entitled to priority in
    receiving payment in the form of the Equity Interest based on
    the conversion value thereof, or from the proceeds from the
    auction or sale of the Equity Interest pledged by the Pledgor to
    the Pledgee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Rate of Pledge and Term of Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.1&#160;The rate of the Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The rate of the Pledge shall be approximately 100%.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2&#160;The term of the Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2.1&#160;The Pledge shall take effect as of the date when the
    pledge of the Equity Interest is recorded in the Register of
    Shareholders of the Company and shall remain in effect until two
    (2)&#160;years after the obligations under the Principal
    Agreement will have been fulfilled. The parties agree that, if
    situations allow, they will use their best efforts to register
    the Pledge with the Administration for Industry and Commerce at
    the place of registration of the Company. However, the parties
    confirm that the effectiveness of this Agreement is not subject
    to the registration unless the laws and regulations of the PRC
    provide otherwise.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2.2&#160;During the term of the Pledge, the Pledgee shall be
    entitled to dispose of the pledged assets in accordance with
    this Agreement in the event that the Pledgor does not perform
    his obligations under the Loan Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Physical Possession of Documents
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1&#160;During the term of the Pledge under this Agreement, the
    Pledgor shall deliver the physical possession of his Certificate
    of Capital Contribution and the Register of Shareholders of the
    Company to the Pledgee within one (1)&#160;week from the
    execution date of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2&#160;The Pledgee shall be entitled to collect the dividends
    for the Equity Interest.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.3&#160;The Pledge under this Agreement will be recorded in the
    Register of Shareholders of the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Representation and Warranty of the Pledgor
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.1&#160;The Pledgor is the legal owner of the Equity Interest
    pledged.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.2&#160;Except for the benefit of the Pledgee, the Pledgor has
    not pledged the Equity Interest or created other encumbrance on
    the Equity Interest.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Covenants of the Pledgor
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1&#160;During the effective term of this Agreement, the
    Pledgor covenants to the Pledgee for its benefit that the
    Pledgor shall:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1.1&#160;Not transfer or assign the Equity Interest, create or
    permit the existence of any other pledges which may have an
    adverse effect on the rights or benefits of the Pledgee without
    prior written consent of the Pledgee;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1.2&#160;Comply with laws and regulations with respect to the
    pledge of rights; present to the Pledgee the notices, orders or
    suggestions with respect to the Pledge issued or made by
    relevant government authorities within five (5)&#160;days upon
    receiving such notices, orders or suggestions; comply with such
    notices, orders or suggestions or, alternatively, at the
    reasonable request of the Pledgee or with consent from the
    Pledgee, raise objection to such notices, orders or suggestions;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1.3&#160;Timely notify the Pledgee of any events or any
    notices received which may affect the Pledgor&#146;s right to
    all or any part of the Equity Interest, and any events or any
    received notices which may change the Pledgor&#146;s warranties
    and obligations under this Agreement or affect the
    Pledgor&#146;s performance of its obligations under this
    Agreement.
</DIV>
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    <BR>
    2
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.2&#160;The Pledgor agrees that the Pledgee&#146;s right to the
    Pledge obtained from this Agreement shall not be suspended or
    inhibited by any legal procedure initiated by the Pledgor or any
    successors of the Pledgor or any person authorized by the
    Pledgor or any other person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.3&#160;The Pledgor promises to the Pledgee that in order to
    protect or perfect the security for the payment of the Loan, the
    Pledgor shall execute in good faith and cause other parties who
    have interests in the Pledge to execute, all title certificates
    and contracts or to perform any other actions (and cause other
    parties who have interests to take action) as required by the
    Pledgee and make access to exercise the rights and authorization
    vested in the Pledgee under this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.4&#160;The Pledgor promises to the Pledgee that
    <FONT style="white-space: nowrap">he/she</FONT> will
    execute all amendment documents (if applicable and necessary) in
    connection with the certificate of the Equity Interest with the
    Pledgee or its designated person (being a natural person or a
    legal entity) and, within a reasonable period, provide to the
    Pledgee all notices, orders and decisions about the Pledge as
    the Pledgee deems necessary.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.5&#160;The Pledgor promises to the Pledgee that
    <FONT style="white-space: nowrap">he/she</FONT> will
    comply with and perform all the guarantees, covenants,
    warranties, representations and conditions for the benefit of
    the Pledgee. The Pledgor shall compensate the Pledgee for all
    losses suffered by the Pledgee because of the Pledgor&#146;s
    failure to perform in whole or in part its guarantees,
    covenants, warranties, representations and conditions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Event of Default
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1&#160;The following events shall be regarded as events of
    default:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.1&#160;Pledgor fails to perform his obligations under the
    Loan Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.2&#160;Any representation or warranty made by the Pledgor in
    Article&#160;5 hereof contains material misleading statements or
    errors
    <FONT style="white-space: nowrap">and/or</FONT> the
    Pledgor breaches any warranty in Article&#160;5 hereof;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.3&#160;The Pledgor breaches the covenants under
    Article&#160;6 hereof;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.4&#160;The Pledgor breaches another provision of this
    Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.5&#160;The Pledgor waives the pledged Equity Interest or
    transfers or assigns the pledged Equity Interest without prior
    written consent from the Pledgee;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.6&#160;Any of the Pledgor&#146;s external loans, guaranties,
    compensations, undertakings or other obligations (1)&#160;is
    required to be repaid or performed prior to the scheduled due
    date because of a default; or (2)&#160;is due but cannot be
    repaid or performed as scheduled, causing the Pledgee to believe
    that the Pledgor&#146;s ability to perform the obligations
    hereunder has been affected;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.7&#160;The Company is incapable of repaying its general
    debts or other debts;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.8&#160;This Agreement becomes illegal or the Pledgor is not
    capable of continuing to perform the obligations hereunder due
    to any reason other than force majeure;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.9&#160;There have been adverse changes to the properties
    owned by the Pledgor, causing the Pledgee to believe that the
    capability of the Pledgor to perform the obligations hereunder
    has been affected;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.10&#160;The breach of the other provisions of this Agreement
    by the Pledgor due to his act or omission.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.2&#160;The Pledgor shall immediately give a written notice to
    the Pledgee if the Pledgor knows or discovers that any event
    specified under Article&#160;7.1 hereof or any event that may
    result in the foregoing events has occurred.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.3&#160;Unless an event of default under Article&#160;7.1
    hereof has been solved to the Pledgee&#146;s satisfaction, the
    Pledgee, at any time when the event of default occurs or at
    anytime thereafter, may give a written notice of default to the
    Pledgor, requiring the Pledgor to immediately make full payment
    of the outstanding amount under the Loan Agreement or requesting
    to exercise the Pledge in accordance with Article&#160;8 hereof.
</DIV>
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    <BR>
    3
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Exercise of the Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.1&#160;The Pledgor shall not transfer or assign the Equity
    Interest without prior written approval from the Pledgee prior
    to the full performance of his obligations under the Loan
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.2&#160;The Pledgee shall give a notice of default to the
    Pledgor when the Pledgee exercises the Pledge.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.3&#160;Subject to Article&#160;7.3, the Pledgee may exercise
    the Pledge when the Pledgee gives a notice of default in
    accordance with Article&#160;7.3 or at anytime thereafter.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.4&#160;The Pledgee is entitled to priority in receiving
    payment in the form of all or part of the Equity Interest based
    on the conversion value thereof, or from the proceeds from the
    auction or sale of all or part of the Equity Interest in
    accordance with legal procedure, until the outstanding debt and
    all other payables of the Pledgor under Loan Agreement are
    repaid.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.5&#160;The Pledgor shall not hinder the Pledgee from
    exercising the Pledge in accordance with this Agreement and
    shall give necessary assistance so that the Pledgee could fully
    exercise its Pledge.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Assignment
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.1&#160;The Pledgor shall not assign or transfer its rights and
    obligations hereunder without prior consent from the Pledgee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.2&#160;This Agreement shall be binding upon the Pledgor and
    his successors and be binding on the Pledgee and each of its
    successors and permitted assigns.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.3&#160;To the extent permitted by law, the Pledgee may
    transfer or assign any or all of its rights and obligations
    under the Loan Agreement to any person (natural person or legal
    entity) designated by it at any time. In that case, the assignee
    shall have the same rights and obligations as those of the
    Pledgee as if the assignee was an original party hereto. When
    the Pledgee transfers or assigns the rights and obligations
    under the Loan Agreement, it is only required to provide a
    written notice to the Pledgor, and at the request of the
    Pledgee, the Pledgor shall execute the relevant agreements
    <FONT style="white-space: nowrap">and/or</FONT>
    documents with respect to such transfer or assignment.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.4&#160;After the Pledgee has been changed as a result of a
    transfer or an assignment, the new parties to the Pledge shall
    execute a new pledge contract.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Effectiveness and Term
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement is effective as of the date first set forth above
    and from the date when the pledge is recorded on the
    Company&#146;s Register of Shareholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;Termination
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall terminate when the loan under the Loan
    Agreement has been fully repaid and the Pledgor no longer has
    any outstanding obligations under the Loan Agreement.
    Thereafter, the Pledgee shall cancel or terminate this Agreement
    as soon as reasonably practicable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Fees and Other Charges
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.1&#160;The Pledgor shall be responsible for all of the fees
    and actual expenses in relation to this Agreement including, but
    not limited to, legal fees, production costs, stamp tax and any
    other taxes and charges. If the Pledgee pays the relevant taxes
    in accordance with the laws, the Pledgor shall fully indemnify
    the Pledgee for such taxes paid by the Pledgee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.2&#160;In the event that the Pledgee has to make a claim
    against the Pledgor by any means as a result of the
    Pledgor&#146;s failure to pay any tax or expense payable by the
    Pledgor under this Agreement, the Pledgor shall be responsible
    for all the expenses arising from such claim (including but not
    limited to any taxes, handling fees, management fees, litigation
    fees, attorney&#146;s fees, and various insurance premiums in
    connection with the disposition of the Pledge).
</DIV>
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    <BR>
    4
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;Force Majeure
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.1&#160;Force Majeure, which includes but is not limited to
    acts of governments, acts of nature, fires, explosions,
    typhoons, floods, earthquake, tides, lightning or war, refers to
    any unforeseen event that is beyond a party&#146;s reasonable
    control and cannot be prevented with reasonable care. However,
    any insufficiency of creditworthiness, capital or financing
    shall not be regarded as an event beyond a party&#146;s
    reasonable control. The affected party by Force Majeure shall
    promptly notify the other party of such event resulting in
    exemption.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.2&#160;In the event that the affected party is delayed or
    prevented from performing its obligations under this Agreement
    by Force Majeure, and only to the extent of such delay and
    prevention, the affected party shall not be liable for
    obligations under this Agreement. The affected party shall take
    appropriate measures to minimize or remove the effects of Force
    Majeure and attempt to resume performance of the obligations
    that were delayed or prevented by the event of Force Majeure.
    After the event of Force Majeure is removed, both parties agree
    to resume the performance of this Agreement using their best
    efforts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Confidentiality
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The parties to this Agreement acknowledge and confirm that all
    the oral and written materials exchanged relating to this
    Agreement are confidential. Each party must keep such materials
    confidential and can not disclose such materials to any other
    third party without the other party&#146;s prior written
    approval, unless: (a)&#160;the public knows or will know the
    materials (not due of the disclosure by the receiving party);
    (b)&#160;the disclosed materials are required by law or stock
    exchange rules to be disclosed; or (c)&#160;materials relating
    to the transactions under this Agreement are disclosed to the
    parties&#146; legal or financial advisors, who must keep them
    confidential as well. Disclosure of the confidential information
    by employees or institutions hired by the parties is deemed as
    an act by the parties, therefore, subjecting them to liability.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;Dispute Resolution
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.1&#160;This Agreement shall be governed by and construed in
    accordance with PRC law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.2&#160;The parties shall strive to settle any dispute arising
    from the interpretation or performance of this Agreement through
    friendly consultation. In case no settlement can be reached
    through consultation, each party can submit such matter to the
    China International Economic and Trade Arbitration Commission
    (&#147;CIETAC&#148;) for arbitration. The arbitration shall
    follow the current rules of CIETAC, the arbitration proceedings
    shall be conducted in Chinese and shall take place in Beijing,
    PRC. The arbitration award shall be final and binding upon the
    parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;Notice
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any notice which is given by the parties hereto for the purpose
    of performing the rights and obligations hereunder shall be in
    writing. Where such notice is delivered personally, the time of
    notice is the time when such notice actually reaches the
    addressee; where such notice is transmitted by telex or
    facsimile, the notice time is the time when such notice is
    transmitted. If such notice does not reach the addressee on a
    business day or reaches the addressee after business hours, the
    next business day following such day is the date of notice. The
    delivery place is the address first written above for each of
    the parties hereto or the address advised by such party in
    writing, including facsimile and telex, from time to time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    17.&#160;Entire Contract
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding Article&#160;10, the parties agree that this
    Agreement constitutes the entire agreement of the parties hereto
    with respect to the subject matters herein upon its
    effectiveness and supersedes and replaces all prior oral
    <FONT style="white-space: nowrap">and/or</FONT>
    written agreements and understandings relating to the subject
    matters of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    18.&#160;Severability
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Should any provision of this Agreement be held invalid or
    unenforceable because of inconsistency with applicable laws,
    such provision shall be invalid or unenforceable only to the
    extent of such applicable laws without affecting the validity or
    enforceability of the remainder of this Agreement.
</DIV>
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    <BR>
    5
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    19.&#160;Appendices
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The appendices to this Agreement shall constitute an integral
    part of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    20.&#160;Amendment or Supplement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    20.1&#160;The parties may amend or supplement this Agreement by
    written agreement. The amendments or supplements to this
    Agreement duly executed by both parties shall form an integral
    part of this Agreement and shall have the same legal effect as
    this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    20.2&#160;This Agreement and any amendments, modifications,
    supplements, additions or changes hereto shall be in writing and
    shall be effective upon being executed and sealed by the parties
    hereto.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    21.&#160;Counterparts
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement is executed in Chinese in duplicate, with each
    party hereto holding one copy. Both originals have the same
    legal effect.
</DIV>
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    <BR>
    6
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    [Signature Page]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Pledgee: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="44%"></TD>
    <TD width="56%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal Representative/Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 44%; width: 23%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Pledgor: Hu Cai</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Hu
    Cai</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 9%; width: 23%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Beijing BaiduPay Science and Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="44%"></TD>
    <TD width="56%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal Representative/Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Hu
    Cai</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 44%; width: 23%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Beijing BaiduPay Science and Technology Co., Ltd. seal]
</DIV>
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    <BR>
    7
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</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.38
<SEQUENCE>15
<FILENAME>h04360dexv4w38.htm
<DESCRIPTION>EX-4.38
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w38</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.38</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">EXCLUSIVE
    EQUITY PURCHASE OPTION AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Exclusive Equity Purchase Option Agreement (this
    &#147;Agreement&#148;) is entered into among the following
    parties in Beijing, PRC:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="16%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="82%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="white-space: nowrap">12/F.,</FONT> Ideal
    International Plaza, No.&#160;58 North-West 4th&#160;Ring,
    Haidian District, Beijing, PRC, 100080
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Hu Cai</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>ID Number:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>320106198212162416</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing BaiduPay Science and Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Room&#160;301, 3/F, Block D, Jia No.&#160;18 Zhongguancun South
    Street, Haidian District, Beijing, PRC, 100081
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In this Agreement, Party A, Party B and Party C are called
    collectively as the &#147;Parties&#148; and each of them is a
    &#147;Party.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A, is a wholly foreign-owned enterprise
    incorporated under the laws of the People&#146;s Republic of
    China (the &#147;PRC&#148;), which has technology expertise and
    practical experience in computer software development and
    design, and also has rich experience and expertise in
    information technology and service;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party C, a liability limited company incorporated in the
    PRC, is licensed by is licensed by Beijing Communications
    Administration to carry out the business of value-added
    telecommunication services such as Internet information services;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party B is the shareholder of Party C. Party B has
    ownership of 9 % of the equity interest in Party C (the
    &#147;Equity Interest&#148;);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Party A and Party B entered into a loan agreement (the
    &#147;Loan Agreement&#148;) on April&#160;28, 2009;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Party A and Party B entered into an equity pledge
    agreement (the &#147;Equity Pledge Agreement&#148;) on
    [<B>Date</B>].
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE</B>, the Parties upon negotiation hereby agree
    as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;<U>Purchase and Sale of Equity Interest</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1&#160;Granting of Rights
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party B (hereafter, the &#147;Transferor&#148;) hereby
    irrevocably grants to Party A an option to purchase or cause any
    one or more designated persons (&#147;Designated Persons&#148;)
    to purchase, to the extent permitted under PRC law, according to
    the steps determined by Party A, at the price specified in
    Section&#160;1.3 of this Agreement, and at any time from the
    Transferor, a portion of, or all of, the equity interests held
    by the Transferor in Party C (the &#147;Option&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No Option shall be granted to any third party other than Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons. Party C hereby agrees to the granting of the
    Option by Party B to Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons. The &#147;person&#148; set forth in this
    clause and this Agreement means an individual person,
    corporation, joint venture, partnership, enterprise, trust or a
    non-corporation organization.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2&#160;Exercise Steps
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Subject to PRC law and regulations, Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons may exercise the Option by issuing a written
    notice (the &#147;Notice&#148;) to the Transferor, specifying
    the equity interest to be purchased from the Transferor (the
    &#147;Purchased Equity Interest&#148;) and the manner of such
    purchase.
</DIV>
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.3&#160;Purchase Price
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.3.1&#160;If Party A exercises the Option, the purchase price
    of the Purchased Equity Interest (&#147;Purchase Price&#148;)
    shall be equal to the original paid-in capital paid by the
    Transferor for the Purchased Equity Interest, unless then
    applicable PRC laws and regulations require appraisal of the
    Purchased Equity Interest or stipulate other restrictions on the
    Purchase price.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.3.2&#160;If the applicable PRC laws require appraisal of the
    Purchased Equity Interest or stipulate other restrictions on the
    Purchase Price at the time that Party A exercises the Option,
    the Parties agree that the Purchase Price shall be set at the
    lowest price permissible under applicable law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4&#160;Transfer of the Purchased Equity Interest
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    At each exercise of the Option:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4.1&#160;The Transferor shall cause Party C to convene a
    shareholders&#146; meeting. During the meeting, resolutions
    approving the transfer of the Equity Interest from the
    Transferor to Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons shall be adopted;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4.2&#160;The Transferor shall, in accordance the terms and
    conditions of this Agreement and the Notice in connection with
    the Purchased Equity Interest, enter into an equity transfer
    agreement with Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons (as applicable) for each transfer;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4.3&#160;The related parties shall execute all other requisite
    contracts, agreements or documents, obtain all requisite
    government approvals and consents, and take all necessary
    actions to transfer the valid ownership of the Purchased Equity
    Interest to Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons free of any security interest, and cause
    Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons to be the registered owner(s) of the
    Purchased Equity Interest. In this clause and this Agreement,
    &#147;Security Interest&#148; means guaranty, mortgage, pledge,
    third-party right or interest, any share option, right of
    acquisition, right of first refusal, right of set-off,
    ownership, detainment or other security arrangements. However,
    it does not include any security interest arising under the
    Equity Pledge Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.5&#160;Payment
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The manner of payment of the Purchase Price shall be determined
    through negotiations between Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons and the Transferor according to the
    applicable laws at the time of the exercise of the Option. The
    Parties hereby agree that, subject to applicable laws,
    Transferor shall repay to Party A any amount that is paid by
    Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons to the Transferor in connection with the
    Purchased Equity Interest, as the repayment of the loan
    principal under the Loan Agreement, as well as legally permitted
    interests or capital.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;<U>Covenants Relating to the Equity Interest</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1&#160;Covenants Relating to Party C
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party B and Party C hereby covenant:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.1&#160;Not to supplement, amend or modify Party C&#146;s
    articles of association in any way, or to increase or decrease
    its registered capital, or to change its registered capital
    structure in any way without Party A&#146;s prior written
    consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.2&#160;To maintain the corporate existence of Party C and
    operate its business and deal with matters prudently and
    effectively according to good financial and business rules and
    practices;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.3&#160;Not to sell, transfer, mortgage or otherwise dispose
    of, or permit any other security interest to be created on, any
    of Party C&#146;s assets, business or legal or beneficial
    interests in its revenue at any time after the signing of this
    Agreement without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.4&#160;Not to create, succeed to, guarantee or permit any
    liability, without Party A&#146;s prior written consent, except
    (i)&#160;liabilities arising from the normal course of business,
    but not arising from loans; and (ii)&#160;liabilities disclosed
    to Party A and approved by Party A in writing;
</DIV>
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    <BR>
    2
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.5&#160;To operate persistently all the business in the
    normal course of business to maintain the value of Party
    C&#146;s assets, and not to commit any act or omission that
    would affect its operations and asset value;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.6&#160;Without prior written consent by Party A, not to
    enter into any material agreement, other than agreements entered
    into in Party C&#146;s normal course of business (for purpose of
    this paragraph, an agreement will be deemed material if its
    value exceeds RMB[100,000]);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.7&#160;Not to provide loans or credit to any person without
    Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.8&#160;To provide all information relating to Party C&#146;s
    operations and financial conditions upon the request of Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.9&#160;To purchase and maintain insurance from insurance
    companies accepted by Party A. The amount and category of the
    insurance shall the same as those of the insurance normally
    procured by companies engaged in similar businesses and
    possessing similar properties or assets in the area where Party
    C is located;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.10&#160;Not to merge or consolidate with, or acquire or
    invest in, any person without Party A&#146;s prior written
    consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.11&#160;To promptly notify Party A of any pending or
    threatened suit, arbitration or administrative proceedings
    concerning Party C&#146;s assets, business or revenue;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.12&#160;To execute all necessary or appropriate documents,
    to take all necessary or appropriate actions and to bring all
    necessary or appropriate claims or to make all necessary and
    appropriate defenses against all claims in order for Party C to
    maintain the ownership over all its assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.13&#160;Not to distribute dividends to Party C&#146;s
    shareholders in any way without Party A&#146;s prior written
    consent. However, Party C shall promptly distribute all or part
    of its distributable profits to its shareholders upon Party
    A&#146;s request;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.14&#160;At the request of Party A, to appoint persons
    nominated by Party A to be the directors of Party C;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.15&#160;Dividends distributed by Party C and profits
    assigned by any other form shall be converged to Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2&#160;Covenants Relating to the Transferor
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party B hereby covenants:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.1&#160;Not to sell, transfer, mortgage or otherwise dispose
    of, or allow any other security interest to be created on, the
    legal or beneficial interest in the Equity Interest at any time
    after the signing of this Agreement without Party A&#146;s prior
    written consent, other than the pledge created on Party B&#146;s
    Equity Interest in accordance with the Equity Pledge Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.2&#160;Without Party A&#146;s prior written consent, not to
    vote for or sign any shareholders&#146; resolution at Party
    C&#146;s shareholders&#146; meetings to approve the sale,
    transfer, mortgage or disposition in any other manner of, or the
    creation of any other security interest on, any legal or
    beneficial interest in the Equity Interest, except to or for the
    benefit of Party A or its designated persons;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.3&#160;Without Party A&#146;s prior written consent, not to
    vote for or sign any shareholders&#146; resolution at Party
    C&#146;s shareholders&#146; meetings to approve Party C&#146;s
    merger or consolidation with, acquisition of or investment in,
    any person;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.4&#160;To promptly notify Party A of any pending or
    threatened suit, arbitration or administrative proceedings
    concerning the Equity Interest owned by it;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.5&#160;To cause the shareholders&#146; meeting to approve
    the transfer of the Purchased Equity Interest under this
    Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.6&#160;To execute all necessary or appropriate documents, to
    take all necessary or appropriate actions and to bring all
    necessary or appropriate claims or to make all necessary and
    appropriate defenses against all claims in order to maintain his
    ownership over the Equity Interest;
</DIV>
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    <BR>
    3
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.7&#160;At the request of Party A, to appoint persons
    nominated by Party A to be the directors of Party C;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.8&#160;At any time, upon the request of Party A, to transfer
    its Equity Interest immediately and unconditionally to the
    representative designated by Party A, and waive its preemptive
    right with respect to the transfer of equity interest by the
    other shareholder of Party C;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.9&#160;To fully comply with the provisions of this Agreement
    and the other agreements entered into jointly or respectively by
    and among the Transferor, Party C and Party A, perform all
    obligations under these agreements and not commit any act or
    omission that would affect the validity and enforceability of
    these agreements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3&#160;Covenants Relating to Party A
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party A hereby convenant:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3.1&#160;If Party C needs any loan or other capital support in
    its business, under acceptable and reasonable scope, Party A
    shall provide capital support;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3.2&#160;If Party C cannot repay the loan from Party A as loss
    incurred and has sufficient evidence to prove, Party A agrees
    that it shall give up the rights of requiring Party C to repay
    the laon.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;<U>Representations and Warranties</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of the execution date of this Agreement and every transfer
    date, each of the Transferor and Party C hereby represents and
    warrants to Party A as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.1&#160;It has the power and authority to execute and deliver
    this Agreement, and any equity transfer agreement
    (&#147;Transfer Agreement&#148;) to which it is party for each
    transfer of the Purchased Equity under this Agreement and to
    perform its obligations under this Agreement and any Transfer
    Agreement. Once executed, this Agreement and any Transfer
    Agreement to which it is party will constitute a legal, valid
    and binding obligation of it enforceable against it in
    accordance with its terms;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2&#160;The execution, delivery and performance of this
    Agreement or any Transfer Agreement by it will not:
    (i)&#160;violate any relevant PRC laws and regulations;
    (ii)&#160;conflict with its articles of association or other
    organizational documents; (iii)&#160;violate or constitute a
    default under any contract or instrument to which it is party or
    that binds upon it; (iv)&#160;violate any condition for the
    grant <FONT style="white-space: nowrap">and/or</FONT>
    continued effectiveness of any permit or approval granted to it;
    or (v)&#160;cause any permit or approval granted to it to be
    suspended, cancelled or attached with additional conditions;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.3&#160;Party C has good and marketable ownership interest in
    all of its assets and has not created any security interest on
    the said assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.4&#160;Party C has no outstanding liabilities, except
    (i)&#160;liabilities arising in its normal course of business;
    and (ii)&#160;liabilities disclosed to Party A and approved by
    Party A in writing;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.5&#160;Party C complies with all PRC laws and regulations
    applicable to the acquisition of assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.6&#160;There are currently no existing, pending or threatened
    litigation, arbitration or administrative proceedings related to
    the Equity Interest, Party C&#146;s assets or Party C;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.7&#160;The Transferor has good and marketable ownership
    interest in the Equity Interest and has not created any security
    interest on such Equity Interest, other than the security
    interest pursuant to the Equity Pledge Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;<U>Assignment of Agreement</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1&#160;Party B and Party C shall not assign their rights and
    obligations under this Agreement to any third party without the
    prior written consent of Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2&#160;Party B and Party C hereby agree that Party A may
    assign all its rights and obligation under this Agreement to a
    third party without the consent of Party B and Party C, but such
    assignment shall be notified in writing to Party B and Party C.
</DIV>
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    <BR>
    4
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;<U>Effective Date and Term</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.1&#160;This Agreement shall be effective as of the date first
    set forth above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.2&#160;The term of this Agreement is ten (10)&#160;years
    unless terminated earlier in accordance with the provisions of
    this Agreement or related agreements entered into by the
    Parties. This Agreement may be extended with the written consent
    of Party A before its expiration. The term of the extension
    shall be decided by the Parties through negotiation.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.3&#160;If the duration of operation (including any extension
    thereof) of Party A or Party C is expired or terminated for
    other reasons within the term set forth in Article 5.2, this
    Agreement shall be terminated simultaneously, except in the
    situation where Party A has assigned its rights and obligations
    in accordance with Article&#160;4.2 hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;<U>Applicable Law and Dispute Resolution</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1&#160;Applicable Law
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The formation, validity, interpretation and performance of and
    settlement of disputes under this Agreement shall be governed by
    the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.2&#160;Dispute Resolution
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any dispute arising in connection with the interpretation and
    performance of the provisions of this Agreement shall be
    resolved by the Parties in good faith through negotiations. In
    case no resolution can be reached by the Parties within thirty
    (30)&#160;days after either party makes a request for dispute
    resolution through negotiations, either party may refer such
    dispute to China International Economic and Trade Arbitration
    Commission (&#147;CIETAC&#148;) for arbitration in accordance
    with CIETAC&#146;s arbitration rules then in effect. The seat of
    arbitration shall be Beijing and language of proceedings shall
    be Chinese. The arbitral award shall be final and binding upon
    the Parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;<U>Taxes and Expenses</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Every Party shall, in accordance with PRC laws, bear any and all
    transfer and registration taxes, expenses and charges incurred
    by or levied on it with respect to the preparation and execution
    of this Agreement and each Transfer Agreement and the
    consummation of the transactions contemplated under this
    Agreement and each Transfer Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;<U>Confidentiality</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Parties acknowledge and confirm any oral or written
    materials exchanged by the Parties in connection with this
    Agreement are confidential. The Parties shall maintain the
    confidentiality of all such materials. Without the written
    approval by the other Parties, any Party shall not disclose to
    any third party any relevant materials, but the following
    circumstances shall be excluded:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.1&#160;Materials that are or will become known by the public
    (through no fault of the receiving party);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.2&#160;Materials required to be disclosed by the applicable
    laws or rules of the stock exchange;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.3&#160;Materials disclosed by each Party to its legal or
    financial advisors relating the transactions contemplated by
    this Agreement, and such legal or financial advisors shall
    comply with the confidentiality provisions set forth in this
    Article&#160;8. Any disclosure of confidential information by
    the personnel of any Party or by the institutions engaged by
    such Party shall be deemed as a disclosure by such Party, and
    such Party shall be liable for the breach under this Agreement.
    This Article&#160;8 shall survive the invalidity, cancellation,
    termination or unenforceability of this Agreement for any reason.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;<U>Further Assurances</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Parties agree to promptly execute documents and take further
    actions that are reasonably required for, or beneficial to, the
    purpose of performing the provisions and carrying out the intent
    of this Agreement.
</DIV>
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    <BR>
    5
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;<U>Miscellaneous</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.1&#160;Amendment, Modification or Supplement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any amendment or supplement to this Agreement shall be made by
    the Parties in writing. The amendments or supplements duly
    executed by each Party shall be deemed as a part of this
    Agreement and shall have the same legal effect as this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.2&#160;Entire Agreement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding Article&#160;5 of this Agreement, the Parties
    acknowledge that once this Agreement becomes effective, it shall
    constitute the entire agreement of the Parties with respect to
    the subject matters hereof and shall supersede all prior oral
    <FONT style="white-space: nowrap">and/or</FONT>
    written agreements and understandings by the Parties with
    respect to the subject matters hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.3&#160;Severability
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If any provision of this Agreement is judged to be invalid,
    illegal or unenforceable in any respect according to any
    applicable law or regulation, the validity, legality and
    enforceability of the other provisions hereof shall not be
    affected or impaired in any way. The Parties shall, through
    good-faith negotiations, replace those invalid, illegal or
    unenforceable provisions with valid provisions that may bring
    about economic effects as similar as possible to those from such
    invalid, illegal or unenforceable provisions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.4&#160;Headings
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The headings contained in this Agreement are for the convenience
    of reference only and shall not be used for the interpretation
    or explanation or otherwise affect the meaning of the provisions
    of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.5&#160;Language and Copies
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement is executed in Chinese in three copies; each
    Party holds one copy and each copy has the same legal effect.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.6&#160;Successor
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall bind upon and inure to the benefit of the
    successors and permitted assigns of each Party.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.7&#160;Survival
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any obligation arising from or becoming due under this Agreement
    before its expiration or premature termination shall survive
    such expiration or premature termination. Articles&#160;6, 8 and
    9 and this Section&#160;11.7 shall survive the termination of
    this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.8&#160;Waiver
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any Party may waive the terms and conditions of this Agreement
    by a written instrument signed by the Parties. Any waiver by a
    Party to a breach by the other Parties in a specific situation
    shall not be construed as a waiver to any similar breach by the
    other Parties in other situations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS WHEREOF</B>, each Party has caused this Agreement
    to be executed by himself/herself, its legal representative or
    its duly authorized representative as of the date first written
    above.
</DIV>
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    <BR>
    6
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    [Signature Page]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="45%"></TD>
    <TD width="55%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal Representative/Authorized Representative:&#160;&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 45%; width: 23%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: Hu Cai</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="11%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature:&#160;&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Hu
    Cai</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 11%; width: 23%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party C: Beijing BaiduPay Science and Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="45%"></TD>
    <TD width="55%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal Representative/Authorized Representative:&#160;&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Hu
    Cai</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 45%; width: 23%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Beijing BaiduPay Science and Technology Co., Ltd. seal]
</DIV>
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    <BR>
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<DOCUMENT>
<TYPE>EX-4.39
<SEQUENCE>16
<FILENAME>h04360dexv4w39.htm
<DESCRIPTION>EX-4.39
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w39</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.39</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Irrevocable
    Power of Attorney</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    I, Hu Cai, citizen of the People&#146;s Republic of China (the
    &#147;PRC&#148;) with ID No 320106197212162416, is the
    shareholder holding 9% equity interests of Beijing BaiduPay
    Science and Technology Co., Ltd (the &#147;BaiduPay&#148;),
    hereby irrevocably appoint Haoyu Shen with the following powers
    and rights during the term of this Power of Attorney:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    I hereby appoint Haoyu Shen to exercise, on my behalf, all
    voting rights of shareholder in accordance with PRC laws and
    BaiduPay&#146;s Articles at the shareholders&#146; meetings of
    BaiduPay, including but not limited to the right to sell or
    transfer any or all of equity interests of BaiduPay and to
    designate and appoint the general manager of BaiduPay as my
    authorized representative on the shareholders&#146; meeting of
    the BaiduPay.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Such authorization and appointment are based upon the
    precondition that Haoyu Shen is acting as an employee of Baidu
    Online Network Technology (Beijing) Co., Ltd (the &#147;Baidu
    Online&#148;) and Baidu Online agrees such authorization and
    appointment. Once Haoyu Shen loses his title or position in
    Baidu Online or Baidu Online notifies of the termination of such
    authorization and appointment, I will withdraw such
    authorization and appointment to him immediately and
    designate/authorize the other individual nominated by Baidu
    Online to exercise the full voting rights on behalf of myself at
    the shareholders&#146; meetings of BaiduPay.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The term of this Power of Attorney is 10&#160;years upon the
    execution date of this Power of Attorney during the duly
    existing term of BaiduPay unless the early termination of
    Operation Agreement jointly executed by Baidu Online and
    BaiduPay by any reason.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="11%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    (Signature):&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Hu
    Cai</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 11%; width: 23%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
     Date:
</DIV>
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</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.40
<SEQUENCE>17
<FILENAME>h04360dexv4w40.htm
<DESCRIPTION>EX-4.40
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w40</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.40</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">LOAN
    AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Loan Agreement (the &#147;Agreement&#148;) is entered into
    in Beijing by the following parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Registration Address: 12/F., Ideal International Plaza,
    No.&#160;58 North-West 4th&#160;Ring, Haidian District, Beijing,
    PRC, 100080
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: Hu Cai</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    ID No.: 320106197212162416
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS,</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A is a wholly-owned foreign enterprise
    incorporated in the People&#146;s Republic of China (the
    &#147;PRC&#148;);&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B is a citizen of the PRC and a shareholder of
    Beijing BaiduPay Science and Technology Co., Ltd. (the
    &#147;Company&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE</B>, through friendly negotiations, the parties
    hereto agree as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A agrees to provide an interest-free loan to Party
    B with an aggregate principal amount of RMB <U>9,000,000</U> in
    accordance with the terms and conditions set forth in this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B confirms that he has received the total amount
    of the loan and has invested it into the Company as capital
    contribution.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;The Term of the loan starts from the date when Party B
    received the loan until ten (10)&#160;years after the execution
    of this Agreement and may be extended upon written agreement of
    the parties hereto. During the term of the loan or any extension
    thereof, Party A may notify Party B in writing that the loan
    under this Agreement is due and payable immediately and request
    Party B to repay the loan in the manner specified herein, if any
    of the following events occurs:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Party B resigns from or is dismissed by Party A or its
    affiliates;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Party B dies or becomes a person without capacity or
    with limited capacity for civil acts;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Party B commits a crime or is involved in a crime;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Any other third party claims more than RMB[100,000]
    against Party B;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;Subject to PRC laws, Party A or its designated person
    is permitted to invest in the business of value-added
    telecommunications services, such as Internet information
    services, as well as other businesses that the Company is
    engaged in, and Party A has given a written notice to the
    Company to exercise its purchase option in accordance with the
    exclusive equity purchase option agreement specified in
    Article&#160;4 of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Both parties hereby agree and confirm that, subject to
    PRC laws, Party A shall have the right, but not the obligation,
    to purchase, or designate other persons (including natural
    persons, legal persons or other entities) to purchase, at
    anytime all or part of the equity interests held by Party B in
    the Company (the &#147;Option Right&#148;), provided, however,
    that Party A shall notify Party B in writing of such purchase of
    equity interests. Once the written notice for exercising the
    Option Right is given by Party A, Party B shall, according to
    Party A&#146;s intention or instruction, transfer his equity
    interests in the Company to Party A or other persons designated
    by Party A at his original investment price (the &#147;Original
    Investment Price&#148;) or, if otherwise specified by laws, at
    an other price agreed upon by Party A. Both parties agree and
    confirm that, if at the time of Party A&#146;s exercise of the
    Option Right, the lowest price permitted under then applicable
    laws and regulations is higher than the Original Investment
    Price, the purchase price to be paid by Party A or its
    designated persons shall be the lowest
</DIV>
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    price permitted by applicable law. Both parties agree to execute
    an Exclusive Equity Purchase Option Agreement (the &#147;Option
    Agreement&#148;) in connection with the above matters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Both parties hereby agree and confirm that Party B may
    repay the loan only in the following manner: if permitted by PRC
    laws, Party B or its successor or assign shall transfer the
    equity interests in the Company to Party A or its designated
    persons and use the proceeds from such transfer to repay the
    loan, when the loan is due and Party A gives a written notice.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Both parties hereby agree and confirm that, except as
    otherwise provided for herein, the loan under this Agreement is
    interest-free. However, if, at the time the loan is due and
    Party B needs to transfer his equity interests in the Company to
    Party A or its designated persons, the actual transfer price is
    higher than the loan principal due to legal requirements or
    other reasons, the amount in excess of the loan principal, to
    the extent permitted by law, shall be deemed as interests or
    capital utilization cost, which shall be repaid to Party A
    together with the loan principal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Both parties hereby agree and confirm that Party B shall
    be deemed to have fully performed his obligations under this
    Agreement only if the following requirements are met:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Party B has transferred all his equity interests in the
    Company to Party A
    <FONT style="white-space: nowrap">and/or</FONT> its
    designated persons; and,
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Party B has paid the total proceeds from such transfer
    or the maximum amount (including principal and the highest loan
    interest permitted under then applicable law) allowed by
    applicable law as repayment of the loan to Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;To secure the performance of his obligations under this
    Agreement, Party B agrees to pledge all his equity interests in
    the Company to Party A (the &#147;Equity Pledge&#148;). Both
    parties agree to execute an Equity Pledge Agreement (the
    &#147;Equity Pledge Agreement&#148;) in connection with the
    above matters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Party A hereby represents and warrants to Party B that,
    as of the execution date of this Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Party A is a wholly foreign-owned enterprise
    incorporated and validly existing under the laws of PRC;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Party A has the right to execute and perform this
    Agreement. The execution and performance of this Agreement by
    Party A comply with its business scope, articles of association
    and other organizational documents. Party A has obtained all
    necessary and appropriate approvals and authorizations for the
    execution and performance of this Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;The principal of the loan to Party B is legally owned
    by Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;The execution and performance of this Agreement by
    Party A do not violate any laws, regulations, approvals,
    authorizations, notices, other governmental documents to which
    Party A is subject, any agreement signed by it with any third
    party or any undertaking made by it to any third party;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;When executed by the parties hereto, this Agreement
    shall constitute the legal, valid and binding obligations of
    Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Party B hereby represents and warrants to Party A that,
    from the execution date of this Agreement until this Agreement
    terminates:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;The Company is a limited liability company incorporated
    and validly existing under the laws of PRC and Party B is a
    legal holder of the equity interest of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Party B has the right to execute and perform this
    Agreement. The execution and performance of this Agreement by
    Party B comply with its business scope, articles of association
    and other organizational documents. Party B has obtained all
    necessary and appropriate approvals and authorizations for the
    execution and performance of this Agreement;
</DIV>
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    <BR>
    2
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;The execution and the performance of this Agreement by
    Party B do not violate any laws, regulations, approvals,
    authorizations, notices, other governmental documents to which
    Party B is subject, any agreement signed by Party B with any
    third party or any undertaking made by Party B to any third
    party;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;When executed by the parties hereto, this Agreement
    shall constitute the legal, valid and binding obligations of
    Party B;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;Party B has paid contribution in full for its equity
    interests in the Company in accordance with applicable laws and
    regulations;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;Except pursuant to the Equity Pledge Agreement and
    Option Agreement, Party B has not pledged or created any other
    security interest on, made any offer to any third party to
    transfer, accepted the offer of any third party to purchase, or
    execute agreement with any third party to transfer, Party
    B&#146;s equity interests in the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;There are no pending or threatened disputes,
    litigation, arbitration or other administrative proceedings or
    other legal proceedings in connection with the equity interests
    of the Company held by Party B;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;The Company has completed all necessary governmental
    approval, license, registration and filing.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;Party B covenants that it shall, during the term of
    this Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Not sell, transfer, pledge or dispose in any other
    manner of his equity or other interests in the Company, or allow
    the creation of other security interests thereon, without Party
    A&#146;s prior written consent, except for equity pledges or
    other rights created for the benefit of Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Not vote for at shareholder&#146;s meetings of the
    Company or execute any shareholders&#146; resolutions approving
    the sale, transfer, pledge, disposition in any other manner, or
    the creation of any other security interest on, any legal or
    beneficial interest in the equity of the Company without Party
    A&#146;s prior written consent, except to or for the benefit of
    Party A or its designated persons;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Not vote for at shareholder&#146;s meetings of the
    Company or execute any shareholders&#146; resolutions approving
    the Company to merge or combine with, acquire or invest in any
    person without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Promptly inform Party A of any pending or threatened
    litigation, arbitration or regulatory proceeding concerning the
    equity interests of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;Execute all necessary or appropriate documents, take
    all necessary or appropriate actions, bring all necessary or
    appropriate lawsuits or assert all necessary and appropriate
    defenses against all claims in order to maintain his equity
    interests of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;Not commit any act or omission that may materially
    affect the assets, business and liabilities of the Company
    without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;Appoint any person nominated by Party A to be the
    director of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;Upon Party A&#146;s exercise of its Option Right,
    transfer promptly and unconditionally, all of Party B&#146;s
    equity interests in the Company to Party A or a person
    designated by Party A, provided that such transfer is permitted
    under the laws of PRC;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;Not request the Company to distribute dividends or
    profits;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (j)&#160;Once he has transferred his equity interests in the
    Company to Party A or its designated persons, promptly repay,
    subject to applicable laws, the proceeds received for such
    transfer in full, as the loan principal and loan interests or
    capital utilization cost allowed by laws, to Party A;&#160;and
</DIV>
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    <BR>
    3
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (k)&#160;Comply strictly with the terms of this Agreement, and
    perform the obligations pursuant to this Agreement and not
    commit any act or omission that would affect the validity and
    enforceability of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Party B, as the shareholder of the Company, covenants
    that he shall cause the Company, during the term of this
    Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Not to supply, amend or modify its articles of
    association, or to increase or decrease its registered capital,
    or to change its capital structure in any way without Party
    A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;To maintain and operate its business and deal with
    matters prudently and effectively, in accordance with good
    financial and business rules and practices;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Not to sell, transfer, mortgage, dispose of in any
    other manner, or to create other security interest on, any of
    its assets, business or legal or beneficial right to its
    revenues without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Not to create, succeed to, guarantee or permit any
    liability, without the Party A&#146;s prior written consent,
    except (i)&#160;the liability arising from the ordinary course
    of business, but not arising through Party B; and (ii)&#160;the
    liability reported to and approved by Party A in writing;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;To operate persistently all the business and to
    maintain the value of its assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;Not to execute any material contracts (for the purpose
    of this paragraph, a contract will be deemed material if the
    value of it exceeds RMB[100,000]), without Party A&#146;s prior
    written consent, other than those executed during the ordinary
    course of business;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;To provide information concerning all of its operation
    and financial affairs upon Party A&#146;s request;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;Not to merge or combine with, acquire or invest in, any
    other person without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;Not to issue dividends to shareholders in any form
    without Party A&#146;s prior written consent. However, the
    Company shall promptly distributable all its distributable
    profits to each of its shareholders upon Party A&#146;s request;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (j)&#160;To inform promptly Party A of any pending or threatened
    suit, arbitration or regulatory proceeding concerning the
    assets, business or revenue of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (k)&#160;To execute all necessary or appropriate documents, take
    all necessary or appropriate actions, bring all necessary or
    appropriate lawsuits or assert all necessary and appropriate
    defenses against all claims in order to maintain the ownership
    of all its assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (l)&#160;To comply strictly with the terms of the Exclusive
    Technology Consulting and Service Agreement and other agreements
    between Party A and the Company, perform its obligations under
    aforesaid agreements, and not commit any act or omission that
    would affect the validity and enforceability of such agreements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;This agreement shall inure to the benefit of and be
    binding upon the parties hereto and their respective successors
    and assignees. Without prior written approval of Party A, Party
    B can not assign, pledge or otherwise transfer any right,
    benefit or obligation under this agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Party B agrees that Party A can assign its rights and
    duties under this Agreement to a third party when it thinks
    necessary, in which case Party A only needs to give a written
    notice to Party B and no further consent of Party B is required.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;The execution, validity, interpretation, performance,
    amendment, termination and resolution of disputes in connection
    with this Agreement shall be governed by the laws of the PRC.
</DIV>
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    <BR>
    4
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;Arbitration.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Both parties shall strive to settle any dispute, conflict, or
    claim arising from the interpretation or performance (including
    any issue relating to the existence, validity and termination of
    this Agreement) in connection with this Agreement through
    friendly consultation. In case no settlement can be reached
    within thirty (30)&#160;day after one party requests for the
    settlement, each party may submit such dispute to China
    International Economic and Trade Arbitration Commission (the
    &#147;CIETAC&#148;) for arbitration in accordance with its
    rules. The arbitration award shall be final and binding upon the
    parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The seat of the arbitration shall be Beijing.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The language for the arbitration proceedings shall be Chinese.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    17.&#160;This Agreement shall be formed on the date of
    execution. And both parties hereto agree that the terms and
    conditions of this Agreement shall be effective as of the date
    on which Party B has obtained the loan and shall expire when
    both parties have fully performed their obligations under this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    18.&#160;Party B cannot terminate or revoke this Agreement
    unless (a)&#160;Party A commits a gross negligence, fraud or
    other material illegal acts; or (b)&#160;Party A goes bankrupt.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    19.&#160;This Agreement may not be amended or modified except
    with a written agreement reached by both parties. In case of
    anything not covered herein, both parties may sign a written
    supplementary agreement. Any amendment, modification, supplement
    or annex to this Agreement shall form an integral part of this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    20.&#160;This Agreement constitutes the entire agreement of the
    parties hereto with respect to the subject matters hereof and
    supersedes all prior verbal discussions or written agreements
    between the parties with respect to subject matters hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    21.&#160;This Agreement is severable. If any clause of this
    Agreement is held to be invalid or unenforceable, such
    invalidity or unenforceability shall have no effect on the
    validity or enforceability of the remainder of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    22.&#160;Each party should protect the confidentiality of the
    information concerning the other party&#146;s business,
    operation, financial situation or other confidential information
    obtained under this Agreement or during the performance of this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    23.&#160;Any obligation arising from or becoming due under this
    Agreement before the expiration or early termination of this
    Agreement shall survive such expiration or early termination.
    The Articles&#160;15, 16 and 22 of this Agreement shall survive
    the termination of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    24.&#160;This Agreement shall be executed in two originals, with
    each party holding one original. All originals shall have the
    same legal effect.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS WHEREOF</B>, each party has caused this Agreement
    to be executed by himself, its legal representative or its duly
    authorized representative as of the date first written above.
</DIV>
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    <BR>
    5
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    [Signature Page]
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="44%"></TD>
    <TD width="56%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal Representative/Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 44%; width: 32%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. Seal]
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: Hu Cai</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Hu
    Cai</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 9%; width: 32%;  align: left; border-bottom: 1pt solid #000000"></DIV>
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    <BR>
    6
</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.41
<SEQUENCE>18
<FILENAME>h04360dexv4w41.htm
<DESCRIPTION>EX-4.41
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w41</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.41</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">EXCLUSIVE
    TECHNOLOGY CONSULTING AND SERVICES AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Exclusive Technology Consulting Services Agreement (this
    &#147;Agreement&#148;) is entered into in Beijing, PRC on
    December&#160;28, 2010 between the following two parties:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="15%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="83%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Baidu Campus, No. 10, Shangdi 10th&#160;Street,, Haidian
    District, Beijing, PRC, 100085
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu HR Consulting (Shanghai) Co., Ltd. </B>(the
    &#147;Company&#148;)
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No. 713-1, No. 200 Huiyuan Road, Jiading District, Shanghai,
    PRC, 201807
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A is a wholly foreign-owned enterprise duly
    incorporated under the laws of the People&#146;s Republic of
    China (the &#147;PRC&#148;), which has the technology expertise
    and practical experience in the development and design of
    computer software, and also has rich experience and a team of
    professionals specializing in information technology and
    services;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B is a limited liability company duly incorporated
    in Shanghai, PRC, which carries out the business of value-added
    telecommunication services such as Internet information services;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party A plans to provide exclusive technology consulting
    and related services to Party B and Party B plans to accept such
    services. Both parties wish to continue this cooperation and
    sign a written agreement to stipulate their respective rights
    and obligations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE, </B>both parties, through negotiations, agree
    as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Exclusive Technology Consulting and Services; Sole and
    Exclusive Interests
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1&#160;During the term of this Agreement, Party A agrees, on a
    global scale, as the exclusive technology consulting and
    services provider of Party B, to provide the exclusive
    technology consulting and services to Party B in accordance with
    the terms and conditions of this Agreement (the content of such
    services is specified in Appendix&#160;1 hereto).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2&#160;Party B agrees to accept the exclusive technology
    consulting and services provided by Party A and further agrees
    that, during the term of this Agreement, Party B shall not
    accept such technology consulting and services for the aforesaid
    business from another party without the prior written consent of
    Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Calculation, Payment and Guarantee of the Fees for the
    Technology Consulting and Services (the &#147;Fee&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1&#160;Both parties agree to calculate and pay the Fee under
    this Agreement in accordance with the methods listed on
    Appendix&#160;2 hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2&#160;Party B&#146;s shareholders shall pledge the equity
    interests of Party B to Party A for securing the Fee payable by
    Party B pursuant to this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Intellectual Property Rights
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.1&#160;Party A shall be the sole owner of the copyrights of
    the software designed by Party A and other relevant software,
    any intellectual property obtained through the research and
    development by Party A
    <FONT style="white-space: nowrap">and/or</FONT> any
    derivative rights arising from the performance of this Agreement
    or any other agreement reached by both parties, including, but
    not limited to, patent application rights, copyrights or other
    intellectual property rights of the software, technical
    documents and materials and the rights to license or transfer
    such intellectual property, etc.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2&#160;During the performance of this Agreement, if Party B
    needs to use Party A&#146;s software programs or systems, both
    parties shall sign a separate agreement setting forth the scope,
    method and fee of such license.
</DIV>
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</DIV><!-- END PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Representations and Warranties
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1&#160;Party A hereby represents and warrants as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.1&#160;Party A is a wholly foreign-owned enterprise duly
    incorporated and validly existing under PRC law;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.2&#160;The execution and performance of this Agreement by
    Party A are within its corporate power and business scope. Party
    A has taken necessary corporate actions and obtained appropriate
    authorizations, and has obtained the necessary consents or
    approvals from other third parties or government agencies. The
    execution and performance of this Agreement by Party A do not
    violate the laws and contracts binding upon or influencing Party
    A;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1.3&#160;Upon execution, this Agreement will constitute a
    legal, valid and binding obligation of Party A enforceable
    against Party A in accordance with its terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2&#160;Party B hereby represents and warrants as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.1&#160;Party B is a limited liability company duly
    incorporated and validly existing under the laws of the PRC;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.2&#160;The execution and performance of this Agreement by
    Party B are within its corporate power and business scope. Party
    B has taken necessary corporate actions and obtained appropriate
    authorizations, and has obtained the necessary consents or
    approvals from other third parties or government agencies. The
    execution and performance of this Agreement by Party B do not
    violate the laws and contracts binding upon or influencing Party
    B;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2.3&#160;Upon execution, this Agreement will constitute a
    legal, valid and binding obligation of Party B enforceable
    against Party B in accordance with its terms.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Confidentiality
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.1&#160;Party B agrees to take all reasonable steps to protect
    and maintain the confidentiality of the confidential data and
    information acknowledged or received by Party B through
    accepting the exclusive consulting and services from Party A
    (collectively, the &#147;Confidential Information&#148;). Party
    B shall not disclose, give or transfer any Confidential
    Information to any third party without Party A&#146;s prior
    written consent. Upon termination of this Agreement, Party B
    shall, at Party A&#146;s request, return any and all documents,
    information or software containing any of such Confidential
    Information to Party A or destroy it at its own discretion, and
    delete all of such Confidential Information from any memory
    devices, and cease to use such Confidential Information.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.2&#160;Both parties acknowledge and confirm that any oral or
    written materials exchanged pursuant to this Agreement are
    confidential. Each party shall keep confidential all such
    materials and not disclose any such materials to any third party
    without the prior written consent from the other party except in
    the following situations: (a)&#160;such materials are or will
    become known by the public (through no fault of the receiving
    party); (b)&#160;any materials as required to be disclosed by
    the applicable laws or rules of the stock exchange; and
    (c)&#160;any materials disclosed by each party to its legal or
    financial advisors relating to the transactions contemplated by
    this Agreement, and such legal or financial advisors shall
    comply with the confidentiality provisions set forth in this
    Article&#160;5. Any disclosure of confidential information by
    the personnel of any party or by the institutions engaged by
    such party shall be deemed as a disclosure by such party, and
    such party shall be liable for the breach under this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.3&#160;Both parties agree that this Article&#160;5 shall
    survive the invalidity, cancellation, termination or
    unenforceability of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Indemnity
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party B shall indemnify and hold harmless Party A from and
    against any losses, damages, liabilities or expenses arising
    from any litigation, claims or other request against Party A,
    which arises from or is caused by the content of consulting and
    services required by Party B.
</DIV>
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    <BR>
    2
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Effective Date and Term
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1&#160;This Agreement shall be signed and take effect as of
    the date first set forth above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.2&#160;The term of this Agreement is ten (10)&#160;years
    unless terminated earlier as set forth herein or in accordance
    with the terms set forth in other agreements entered into by
    both parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.3&#160;This Agreement may be extended with the written consent
    of both parties at its expiration, and the extended term shall
    be determined by both parties through negotiation. If both
    parties fail to reach any agreement on such extension, this
    Agreement shall be extended for one (1)&#160;year automatically
    at its expiration (including any expiration of extended term)
    unless Party A informs Party B of its decision not to extend
    this Agreement with a written notice before the expiration date.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.4&#160;If the duration of operation (including any extension
    thereof) of either party is expired or terminated for other
    reasons within the term set forth in Sections&#160;7.2 and 7.3
    hereof, this Agreement shall be terminated simultaneously,
    except in the situation where such party has assigned its rights
    and obligations in accordance with Article&#160;13 hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Termination
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.1&#160;Termination upon Expiration
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall be terminated on its expiration date unless
    it is extended in accordance with the provisions hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.2&#160;Early Termination
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    During the term of this Agreement, Party B shall not terminate
    this Agreement unless Party A engages in acts of gross
    negligence, fraud, other illegal acts or becomes bankrupt.
    Notwithstanding the foregoing provisions, Party A may terminate
    this Agreement at any time with a written notice to Party B
    given thirty (30)&#160;days in advance. During the term of this
    Agreement, if Party B breaches this Agreement and has not cured
    its breach within fourteen (14)&#160;days upon receipt of Party
    A&#146;s written notice of such breach, Party A may inform Party
    B with a written notice of the termination of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.3&#160;Survival
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The rights and obligations to both parties under
    Articles&#160;5, 10 and 12 shall continue to be effective upon
    the termination of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Governing Law
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The performance, interpretation and enforcement of this
    Agreement shall be governed by the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Dispute Resolution
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any dispute arising in connection with the interpretation and
    performance of the provisions of this Agreement shall be
    resolved by the parties in good faith through negotiations. In
    case no resolution can be reached by the parties within thirty
    (30)&#160;days after either party makes a request for a dispute
    resolution through negotiations, either party may refer such
    dispute to the China International Economic and Trade
    Arbitration Commission (the &#147;CIETAC&#148;) for arbitration
    in accordance with CIETAC&#146;s arbitration rules then in
    effect. The seat of arbitration shall be in Beijing, and the
    language of the proceedings shall be Chinese. The arbitral award
    shall be final and binding upon both parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;Force Majeure
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.1&#160;Force Majeure, which includes but not limited to acts
    of governments, change of laws and regulations, acts of nature,
    fires, explosions, typhoons, floods, earthquakes, tides,
    lightning or war, means any unforeseen event that is beyond the
    party&#146;s reasonable control and cannot be prevented with
    reasonable care of the affected party. However, any
    insufficiency of creditworthiness, capital or financing shall
    not be regarded as an event beyond the party&#146;s reasonable
    control. The party affected by Force Majeure and seeks for the
    exemption from performing the
</DIV>
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    <BR>
    3
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    obligations under this Agreement shall inform the other party of
    such exemption and any action taken by it for performing this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.2&#160;In the event that the affected party is delayed in or
    prevented from performing its obligations under this Agreement
    by Force Majeure, and only to the extent of such delay or
    prevention, the affected party shall not be liable for the
    obligations under this Agreement. The affected party shall take
    appropriate measures to minimize or remove the effects of Force
    Majeure and attempt to resume the performance of the obligations
    delayed or prevented by the event of Force Majeure. Once the
    event of Force Majeure is removed, both parties agree to resume
    the performance of this Agreement using their best efforts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Notices
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notices or other communications required to be given by any
    party pursuant to this Agreement shall be written in English and
    Chinese and delivered personally or sent by registered mail or
    postage prepaid mail or by a recognized courier service or by
    facsimile transmission to the address of each relevant party or
    both parties set forth below or such other address or addressees
    as specified by such party from time to time. The date when the
    notice is deemed to be duly served shall be determined as
    follows: (a)&#160;a notice delivered personally is deemed duly
    served upon delivery; (b)&#160;a notice sent by mail is deemed
    duly served the tenth (10th) day after the date when the postage
    prepaid registered airmail was sent out (as is shown on the
    postmark), or the fourth (4th) day after the delivery date to
    the internationally-recognized courier service agency; and
    (c)&#160;a notice sent by facsimile transmission is deemed duly
    served upon the receipt time as is shown on the transmission
    confirmation for relevant documents.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
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    <TD width="89%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
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<!-- TableOutputHead -->
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<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Address: Baidu Campus, No.&#160;10,<BR>
    Shangdi 10th&#160;Street,,<BR>
    Haidian District, Beijing, <BR>
    PRC, 100085
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Attn:
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Fax:
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Tel:
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="89%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu HR Consulting (Shanghai) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Address:
    <FONT style="white-space: nowrap">No.&#160;713-1,</FONT>
    No.&#160;200<BR>
    Huiyuan Road, Jiading District, Shanghai,<BR>
    PRC, 201807
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Attn:
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Fax:
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Tel:
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;Assignment
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.1&#160;Party B shall not assign its rights or obligations
    under this Agreement to any third party without the prior
    written consent of Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.2&#160;Party B hereby agrees that Party A may assign its
    rights and obligations under this Agreement as Party A deems
    necessary and such transfer shall only be subject to a written
    notice sent to Party B by Party A, without further consent from
    Party B required.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Entire Agreement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding Article&#160;7.1 herein both parties confirm
    that once this Agreement becomes effective, it shall constitute
    the entire agreement of both parties hereto with respect to the
    subject matters hereof and supersede all prior oral
    <FONT style="white-space: nowrap">and/or</FONT>
    written agreements and understandings by the parties with
    respect to the subject matters hereof.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    4
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;Severability
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If any provision of this Agreement is judged to be invalid or
    unenforceable because it is inconsistent with applicable laws,
    such invalidity or unenforceability shall be only with respect
    to such laws, and the validity, legality and enforceability of
    the other provisions hereof shall not be affected.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;Amendment or Supplement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any amendment or supplement to this Agreement shall be made by
    the parties in writing. The amendments or supplements duly
    executed by each party shall form an integral part of this
    Agreement and shall have the same legal effect as this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    17.&#160;Counterparts
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall be executed in two originals, with each
    party holding one original. All originals shall have the same
    legal effect.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    5
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS WHEREOF, </B>each party hereto have caused this
    Agreement to be duly executed by its legal representative or a
    duly authorized representative on its behalf as of the date
    first set forth above.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Party A:
    Baidu Online Network Technology (Beijing) Co., Ltd.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="33%"></TD>
    <TD width="67%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal or Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 33%; width: 32%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Party B:
    Baidu HR Consulting (Shanghai) Co., Ltd.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="33%"></TD>
    <TD width="67%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal or Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yanhong
    Li</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 33%; width: 32%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu HR Consulting (Shanghai) Co., Ltd. seal]
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Appendix&#160;1</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Content
    of Technology Consulting and Services</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Server maintenance and supporting services for network
    platform management;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Development, renewal and update of server application
    software, and application of any website owned and operated by
    Party B;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Development, renewal and update of application software
    for online user;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="white-space: nowrap">4.&#160;E-commerce</FONT>
    technical service, including but not limited to services for
    design of
    <FONT style="white-space: nowrap">e-commerce</FONT>
    platform and maintenance;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Provide Party B advertising design, software design,
    webpage creation, technical support and other technical services
    for its advertising business and value-added telecommunication
    services such as Internet information services, and provide
    management consulting advices;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Provide labor supporting as Party B&#146;s request,
    including but not limited to lending or dispatching related
    staff (Party B shall burden the expenses for such staff);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Training for technical and professional staff;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Statistical analysis of website flux;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Technical support for online mutual communication
    platform users;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Publish of advertising scheduling;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;Other services agreed by both parties.
</DIV>
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<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Appendix&#160;2</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Calculation
    and Payment of the Fee for the Technology Consulting and
    Services</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Both parties agree that Party B shall pay 100% of its net income
    to Party A as services fees (the &#147;fees&#148;) for the
    technical consulting and other services Party A provide to Party
    B. Whereas, through negotiation and prior written consent by
    Party A, the fees shall be adjusted according to the services
    for current month and the actual needs of Party B. The fees
    shall be paid monthly. Party B shall, within 30&#160;days of the
    last day of each month, (a)&#160;provide Party A management
    report and operating data, which include net income for current
    month; (b)&#160;pay Party A100% of Party B&#146;s net income or
    amount agreed by Party A. Party B shall, within 90&#160;days of
    the end of every fiscal year, (a)&#160;provide Party A audited
    financial statements for the full fiscal year; such financial
    statements shall be audited and certified by the independent CPA
    approved by Party A; (b)&#160;if the audited financial
    statements show that there is an insufficiency, Party B shall
    pay Party A the difference.
</DIV>
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<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.42
<SEQUENCE>19
<FILENAME>h04360dexv4w42.htm
<DESCRIPTION>EX-4.42
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w42</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.42</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Operating
    Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Operating Agreement (this &#147;Agreement&#148;) is entered
    into among the following parties in Beijing, PRC as of
    December&#160;28, 2010:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="87%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Baidu Campus, No.&#160;10, Shangdi 10th&#160;Street,, Haidian
    District, Beijing, PRC, 100085
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu HR Consulting (Shanghai) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <FONT style="white-space: nowrap">No.&#160;713-1,</FONT>
    No.&#160;200 Huiyuan Road, Jiading District, Shanghai, PRC,
    201807
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Yanhong Li</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>PRC ID:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    110108196811171874
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A is a wholly foreign-owned enterprise duly
    incorporated and validly existing under the laws of the
    People&#146;s Republic of China (the &#147;PRC&#148;), which has
    the technology expertise and practical experience in the
    development and design of computer software, and also has rich
    experience and a team of professionals specializing in
    information technology and service;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B is a limited liability company duly incorporated
    and validly existing under PRC law;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party C is a shareholder of Party B, in which Party C
    owns 100<B>&#160;&#160;&#160;&#160;&#160;</B>% of the equity
    interest;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Party A has established a business relationship with
    Party B by entering into an Exclusive Technology Consulting and
    Services Agreement ( the &#147;Services Agreement&#148;);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Pursuant to the above-mentioned agreement between Party
    A and Party B, Party B shall pay certain sums of money to Party
    A. The daily operations of Party B will have a material effect
    on Party B&#146;s ability to pay such account payable to Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE, </B>through negotiations, all parties to this
    Agreement hereby agree as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A agrees, subject to the satisfaction of the
    relevant provisions herein by Party B, to be the guarantor of
    Party B in the contracts, agreements or transactions entered
    into between Party B and any third party in connection with
    Party B&#146;s business and operations, to provide full
    guarantees for the performance of such contracts, agreements or
    transactions by Party B. As counter-guarantee, Party B agrees to
    pledge the accounts receivable in its operations and all of its
    assets to Party A. According to the aforesaid
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    guarantee arrangement, Party A, when necessary, is willing to
    enter into written guarantee contracts with Party B&#146;s
    counterparties to assume the guarantor&#146;s liabilities. Party
    B and Party C shall take all necessary actions (including, but
    not limited to, executing the relevant documents and filing the
    relevant registrations) to carry out the counter-guarantee
    arrangement with Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;In consideration of the requirements of Article&#160;1
    hereof and to ensure the performance of the various business
    agreements between Party A and Party B and the payment by Party
    B of the amounts payable to Party A thereunder, Party B,
    together with its shareholder Party C, hereby jointly agree
    that, without Party A&#146;s prior written consent, Party B
    shall not engage in any transaction that may materially affect
    its assets, liabilities, rights or operations (except that Party
    B may, in the ordinary course of its business, enter into
    business contracts or agreements, sell or purchase assets and
    create liens in favor of relevant counter parties as required by
    law.), including, but not limited to, the following:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1&#160;To borrow money from any third party or assume any debt;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2&#160;To sell to or acquire from any third party any asset or
    rights, including, but not limited to, any intellectual property
    rights;
</DIV>
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<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3&#160;To provide guarantee for any third party using its
    assets or intellectual property rights as collaterals;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.4&#160;To assign to any third party its business contracts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;In order to ensure the performance of the various
    business agreements between Party A and Party B and the payment
    by Party B of the amounts payable to Party A thereunder, Party
    B, together with its shareholder Party C, hereby jointly agree
    to accept advices and guidance provided by Party A from time to
    time relating to its corporate policies on matters such as
    employment and dismissal of employees, daily operations and
    management, and financial management.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Party B, together with its shareholder Party C, hereby
    jointly agree that Party C shall appoint candidates recommended
    by Party A as executive directors of Party B, and Party B shall
    appoint Party A&#146;s staffrecommended by Party A as its
    president, chief financial officer and other senior executive
    officers. If any of the above-mentioned staff of Party A leaves
    Party A, whether voluntarily or as a result of dismissal by
    Party A, or through written notice by Party A, he or she shall
    also lose
    <FONT style="white-space: nowrap">his/her</FONT>
    right to hold any position at Party B, and Party B shall appoint
    other staff of Party A recommended by Party A to fill such a
    position. The persons recommended by Party A in accordance with
    this Article&#160;4 shall comply with the legal requirements
    regarding the qualifications of executive directors, chief
    financial officers and other senior executive officers.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Party B, together with its shareholder Party C, hereby
    jointly agree and confirm that Party B shall first seek a
    guarantee from Party A if Party B needs any guarantee for its
    performance of any of its contracts or for any borrowing for
    working capital purposes in the course of its operations. In
    such cases, Party A shall have the right to provide the
    appropriate guarantee to Party B at Party A&#146;s sole
    discretion.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;In the event that any of the agreements between Party A
    and Party B terminates or expires, Party A shall have the right,
    but not the obligation, to terminate all agreements between
    Party A and Party B including, but not limited to, the Services
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Any amendment or supplement to this Agreement shall be
    made in writing. The amendment or supplement duly executed by
    all parties shall form an integral part of this Agreement and
    shall have the same legal effect as this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Should any provision of this Agreement be held invalid
    or unenforceable because of inconsistency with applicable laws,
    such provision shall be invalid or unenforceable only to the
    extent of such applicable laws without affecting the validity or
    enforceability of the remainder of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Party B and Party C shall not assign its rights and
    obligations under this Agreement to any third party without the
    prior written consent of Party A. Party B and Party C hereby
    agree that Party A may assign its rights and obligations under
    this Agreement as Party A sees fit, in which case Party A only
    needs to give a written notice to Party B and no further consent
    of Party B and Party C is required.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Each party acknowledges and confirms that any oral or
    written materials exchanged pursuant to this Agreement are
    confidential. Each party shall keep confidential all such
    materials and not disclose any such materials to any third party
    without the prior written consent from the other party except in
    the following situations: (a)&#160;such materials are or will
    become known by the public (through no fault of the receiving
    party); (b)&#160;any materials as required to be disclosed by
    the applicable laws or rules of the stock exchange; or
    (c)&#160;any materials disclosed by each party to its legal or
    financial advisors relating to the transactions contemplated by
    this Agreement, and such legal or financial advisors shall
    comply with the confidentiality provisions set forth in this
    Article&#160;10. Any disclosure of confidential information by
    the personnel of any party or by the institutions engaged by
    such party shall be deemed as a disclosure by such party, and
    such party shall be liable for the breach under this Agreement.
    This Article&#160;10 shall survive the invalidity, cancellation,
    termination or unenforceability of this Agreement for any reason.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;This Agreement shall be governed by and interpreted in
    accordance with the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Any dispute arising in connection with the
    interpretation and performance of the provisions of this
    Agreement shall be resolved by the parties in good faith through
    negotiations. In case no resolution can be
</DIV>
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    <BR>
    2
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    reached by the parties through negotiations, either party may
    refer such dispute to the China International Economic and Trade
    Arbitration Commission (the &#147;CIETAC&#148;) for arbitration
    in accordance with CIETAC&#146;s arbitration rules then in
    effect. The seat of arbitration shall be in Beijing, and the
    language of the proceedings shall be Chinese. The arbitral award
    shall be final and binding upon both of the Parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;This Agreement shall be executed by a duly authorized
    representative of each party and become effective as of the date
    first written above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Once effective, this Agreement shall constitute the
    entire agreement of the parties hereto with respect to the
    subject matters hereof and supersede all prior oral
    <FONT style="white-space: nowrap">and/or</FONT>
    written agreements and understandings by the parties with
    respect to the subject matters hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;The term of this Agreement is ten (10)&#160;years
    unless terminated earlier in accordance with the provisions of
    this Agreement or related agreements entered into by the
    parties. This Agreement may be extended only with the written
    consent of Party A before its expiration. The term of the
    extension shall be decided by the parties through negotiation.
    If the duration of operation (including any extension thereof)
    of Party A or Party B is expired or terminated for other reasons
    within the aforesaid term of this Agreement, this Agreement
    shall be terminated simultaneously, unless such party has
    already assigned its rights and obligations hereunder in
    accordance with Article&#160;9 hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;This Agreement will terminate on the expiration date
    unless it is renewed in accordance with the relevant provision
    herein. During the term of this Agreement, Party B shall not
    terminate this Agreement. Notwithstanding the above stipulation,
    Party A shall have the right to terminate this Agreement at any
    time by issuing a thirty (30)&#160;days&#146; prior written
    notice to Party B.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    17.&#160;This Agreement shall be executed in three originals,
    with each party holding one original. All originals shall have
    the same legal effect.
</DIV>
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    <BR>
    3
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS THEREOF, </B>each party hereto has caused this
    Agreement to be duly executed by himself/herself or a duly
    authorized representative on its behalf as of the date first
    written above.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="24%"></TD>
    <TD width="76%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 24%; width: 32%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: Baidu HR Consulting (Shanghai) Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="24%"></TD>
    <TD width="76%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yanhong
    Li</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 24%; width: 32%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu HR Consulting (Shanghai) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party C: Yanhong Li</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yanhong
    Li</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 9%; width: 32%;  align: left; border-bottom: 1pt solid #000000"></DIV>
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    <BR>
    4
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</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.43
<SEQUENCE>20
<FILENAME>h04360dexv4w43.htm
<DESCRIPTION>EX-4.43
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w43</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.43</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Proxy
    Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Proxy Agreement (this &#147;Agreement&#148;) is entered
    into as of December&#160;28, 2010 between the following two
    parties in Beijing, PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A:&#160;&#160;Yanhong Li, </B>a citizen of the
    People&#146;s Republic of China (the &#147;PRC&#148;), PRC ID:
    110108196811171874
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B:&#160;&#160;Baidu Online Network Technology (Beijing)
    Co., Ltd.</B>, a wholly foreign-owned enterprise registered in
    Beijing, PRC under the laws of the PRC
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">WHEREAS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A established Baidu HR Consulting (Shanghai) Co.,
    Ltd. (the &#147;Company&#148;) on December&#160;28, 2010, in
    which Party A owns <U>100</U>% of the equity interests.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party A is willing to entrust the person designated by
    Party B with full authority to exercise
    <FONT style="white-space: nowrap">his/her</FONT>
    shareholder&#146;s voting right at the Company&#146;s
    shareholders&#146; meetings.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE</B>, the parties agree as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A hereby agrees to irrevocably entrust the person
    designated by Party B to exercise on
    <FONT style="white-space: nowrap">his/her</FONT>
    behalf all shareholder&#146;s voting rights and other
    shareholder&#146;s rights at the shareholders&#146; meeting of
    the Company in accordance with PRC law and the Company&#146;s
    articles of association, including, but not limited to, with
    respect to the sale or transfer of all or part of Party A&#146;s
    equity interests in the Company and the appointment and election
    of the executive directors and chairman of the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B agrees to designate a person to accept the
    entrustment by Party A pursuant to Article 1 of this Agreement,
    and such person shall represent Party A in the exercise of Party
    A&#146;s shareholder&#146;s voting rights and other
    shareholder&#146;s rights pursuant to this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party A hereby acknowledges that, regardless how his
    equity interests in the Company will change,
    <FONT style="white-space: nowrap">he/she</FONT> shall
    entrust the person designated by Party B with all of his
    shareholder&#146;s voting rights and other shareholder&#146;s
    rights.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Party A hereby acknowledges that if Party B withdraws
    the appointment of the relevant person to whom Party A has
    entrusted his shareholder&#146;s voting rights and other
    shareholder&#146;s rights,
    <FONT style="white-space: nowrap">he/she</FONT> will
    withdraw
    <FONT style="white-space: nowrap">his/her</FONT>
    authorization for this person and authorize other persons
    designated by Party B to exercise
    <FONT style="white-space: nowrap">his/her</FONT>
    shareholder&#146;s voting rights and other shareholder&#146;s
    rights at the shareholders&#146; meeting of the Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;This Agreement shall become effective as of the date it
    is duly executed by the parties&#146; authorized representatives.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;The term of this Agreement shall be ten (10)&#160;years
    and may be extended by agreement between the parties upon the
    expiration hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Any amendment to,
    <FONT style="white-space: nowrap">and/or</FONT>
    cancellation of, this Agreement shall be agreed by the parties
    in writing.
</DIV>
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 49%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A</B>
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="42%"></TD>
    <TD width="49%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature:&#160;
</TD>
    <TD align="right">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;Yanhong
    Li</DIV>
</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-right: 49%; width: 100%;  align: right; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 49%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="24%"></TD>
    <TD width="27%"></TD>
    <TD width="49%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Authorized Representative:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;Haoyu
    Shen</DIV>
</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-right: 49%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 49%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;&#160;&#160;&#160;&#160;Haoyu Shen
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="44%"></TD>
    <TD width="49%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Seal:&#160;&#160;&#160;&#160;&#160;
</TD>
    <TD align="left">
    [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement is agreed and accepted by:
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 49%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu HR Consulting (Shanghai) Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 48pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="24%"></TD>
    <TD width="27%"></TD>
    <TD width="49%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Authorized Representative:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:center; width:90%">/s/&#160;&#160;Yanhong
    Li</DIV>
</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-right: 49%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 49%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;&#160;&#160;&#160;&#160;Yanhong Li
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 49%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal:&#160;&#160;&#160;&#160;&#160;[Baidu HR Consulting
    (Shanghai) Co., Ltd. seal]
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.44
<SEQUENCE>21
<FILENAME>h04360dexv4w44.htm
<DESCRIPTION>EX-4.44
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w44</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.44</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">EQUITY
    PLEDGE AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Equity Pledge Agreement (this &#147;Agreement&#148;) is
    entered into in Beijing, PRC on December&#160;28, 2011 by the
    following parties:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="89%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Pledgee:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Legal Address: Baidu Campus, No. 10, Shangdi 10th&#160;Street,,
    Haidian District, Beijing, PRC, 100085
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Pledgor:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Yanhong Li</B> ID card No.: 110108196811171874 <BR>
    Legal Address:
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS,</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A (the &#147;Pledgee&#148;), a wholly
    foreign-owned enterprise registered in Beijing, the
    People&#146;s Republic of China (the &#147;PRC&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B (the &#147;Pledgor&#148;), is a citizen of the
    PRC. The Pledgor owns 100% of the equity interest in Baidu HR
    Consulting (Shanghai) Co., Ltd., a limited liability company
    registered in Shanghai, PRC (the &#147;Company&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party A and Party B signed a loan agreement on Decmeber
    28, 2010, according to which Party B may get a loan in an amount
    of RMB 50,000,000.00 (hereinafter the &#147;Loan&#148;) from
    Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Party A and the Company signed an Exclusive Technology
    Consulting and Service Agreement (the &#147;Technology
    Agreement&#148;) on December&#160;28, 2010, which has a term of
    ten (10)&#160;years. Pursuant to the Technology Agreement, the
    Company shall pay Party A consulting and services fees (the
    &#147;Fees&#148;) for the technology consulting and services
    provided by Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;In order to ensure that Party B will perform its
    obligations under the Loan Agreement, the Pledgor agrees to
    pledge all his equity interest in the Company as security for
    the performance of his obligations under the Loan Agreement.
    Party A and Party B plans to sign this contract to specify their
    rights and obligations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE</B>, the Pledgee and the Pledgor through
    friendly negotiations hereby enter into this Agreement based
    upon the following terms:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Definitions and Interpretation
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Unless otherwise provided in this Agreement, the following terms
    shall have the following meanings:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1&#160;&#147;Pledge&#148;: refers to the full content of
    Article&#160;2 hereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2&#160;&#147;Equity Interest&#148;: refers to all of the
    equity interest in the Company legally held by the Pledgor.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.3&#160;&#147;Rate of Pledge&#148;: refers to the ratio between
    the value of the Pledge and the services fees under this
    Agreement and the total amount of the Loan.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4&#160;&#147;Term of Pledge&#148;: refers to the period
    provided for under Article&#160;3.2 hereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.5&#160;&#147;Principal Agreement&#148;: refers to the
    Technology Agreement and agreements under loan arragement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.6&#160;&#147;Event of Default&#148;: refers to any event
    listed in Article&#160;7.1 hereunder.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.7&#160;&#147;Notice of Default&#148;: refers to the notice of
    default issued by the Pledgee in accordance with this Agreement.
</DIV>
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<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Pledgor agrees to pledge his Equity Interest in the Company
    to the Pledgee as security for his obligations under the loan
    arrangement and debt under Technology Agreement. The term
    &#147;Pledge&#148; under this Agreement refers to the right of
    the Pledgee to be entitled to priority in receiving payment in
    the form of the Equity Interest based on the conversion value
    thereof, or from the proceeds from the auction or sale of the
    Equity Interest pledged by the Pledgor to the Pledgee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Rate of Pledge and Term of Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.1&#160;The rate of the Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The rate of the Pledge shall be approximately 100%.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2&#160;The term of the Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2.1&#160;The Pledge shall take effect as of the date when the
    pledge of the Equity Interest is recorded in the Register of
    Shareholders of the Company and registered in authorized
    administration of industry and commerce, and shall remain in
    effect until two (2)&#160;years after the obligations under the
    Principal Agreement will have been fulfilled.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2.2&#160;During the term of the Pledge, the Pledgee shall be
    entitled to dispose of the pledged assets in accordance with
    this Agreement in the event that the Pledgor does not perform
    his obligations under the loan arrangement or the Company fails
    to pay services fees under the Technology Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Physical Possession of Documents
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1&#160;During the term of the Pledge under this Agreement, the
    Pledgor shall deliver the physical possession of
    <FONT style="white-space: nowrap">his/her</FONT>
    Certificate of Capital Contribution and the Register of
    Shareholders of the Company to the Pledgee within one
    (1)&#160;week from the execution date of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2&#160;The Pledgee shall be entitled to collect the dividends
    for the Equity Interest.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.3&#160;The Pledge under this Agreement will be recorded in the
    Register of Shareholders of the Company within
    [&#160;&#160;]&#160;days of the signing of this Agreement (See
    Appendix&#160;1).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Representation and Warranty of the Pledgor
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.1&#160;The Pledgor is the legal owner of the Equity Interest
    pledged and through resolutions of shareholders&#146; meetings
    (see Appendix&#160;2), get approval for the pledge under this
    agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.2&#160;Except for the benefit of the Pledgee, the Pledgor has
    not pledged the Equity Interest or created other encumbrance on
    the Equity Interest.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Covenants of the Pledgor
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1&#160;During the effective term of this Agreement, the
    Pledgor covenants to the Pledgee for its benefit that the
    Pledgor shall:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1.1&#160;Not transfer or assign the Equity Interest, create or
    permit the existence of any other pledges which may have an
    adverse effect on the rights or benefits of the Pledgee without
    prior written consent of the Pledgee;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1.2&#160;Comply with laws and regulations with respect to the
    pledge of rights; present to the Pledgee the notices, orders or
    suggestions with respect to the Pledge issued or made by
    relevant government authorities within five (5)&#160;days upon
    receiving such notices, orders or suggestions; comply with such
    notices, orders or suggestions or, alternatively, at the
    reasonable request of the Pledgee or with consent from the
    Pledgee, raise objection to such notices, orders or suggestions;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1.3&#160;Timely notify the Pledgee of any events or any
    notices received which may affect the Pledgor&#146;s right to
    all or any part of the Equity Interest, and any events or any
    received notices which may change the Pledgor&#146;s warranties
    and obligations under this Agreement or affect the
    Pledgor&#146;s performance of its obligations under this
    Agreement.
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.2&#160;The Pledgor agrees that the Pledgee&#146;s right to the
    Pledge obtained from this Agreement shall not be suspended or
    inhibited by any legal procedure initiated by the Pledgor or any
    successors of the Pledgor or any person authorized by the
    Pledgor or any other person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.3&#160;The Pledgor promises to the Pledgee that in order to
    protect and perfect the security for the payment of the Loan,
    the Pledgor shall execute in good faith and cause other parties
    who have interests in the Pledge to execute, all title
    certificates and contracts or to perform any other actions (and
    cause other parties who have interests to take action) as
    required by the Pledgee and make access to exercise the rights
    and authorization vested in the Pledgee under this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.4&#160;The Pledgor promises to the Pledgee that
    <FONT style="white-space: nowrap">he/she</FONT> will
    execute all amendment documents (if applicable and necessary) in
    connection with the certificate of the Equity Interest with the
    Pledgee or its designated person (being a natural person or a
    legal entity) and, within a reasonable period, provide to the
    Pledgee all notices, orders and decisions about the Pledge as
    the Pledgee deems necessary.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.5&#160;The Pledgor promises to the Pledgee that
    <FONT style="white-space: nowrap">he/she</FONT> will
    comply with and perform all the guarantees, covenants,
    warranties, representations and conditions for the benefit of
    the Pledgee. The Pledgor shall compensate the Pledgee for all
    losses suffered by the Pledgee because of the Pledgor&#146;s
    failure to perform in whole or in part its guarantees,
    covenants, warranties, representations and conditions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.6&#160;Within the period of this Agreement, the Pledgor will
    not conduct any act and omission that may influence the value of
    the pledged shares for the purpose to keep or increase the value
    of the pledged shares. The pledgeor will notice the Pledgee
    immediately when there are issues that may decrease the value of
    the Pledged shares or the Plegor perform any obligations under
    this Agreement and, as required by the Pledgee, provide
    guarantee for the difference of the decreased pledged shares.
    Such guarantee should be satisfied by the Pledgee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.7&#160;When permitting under applicable laws and regulations,
    the Pledgor shall assist the Pledgee for the registration,
    filing or any other processes as required by the laws and
    regulations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Event of Default
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1&#160;The following events shall be regarded as events of
    default:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.1&#160;Pledgor fails to perform his obligations under the
    loan arrangement and supplementary agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.2&#160;The Company fails to fully pay the fees on schedule
    under the Technology Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.3&#160;Any representation or warranty made by the Pledgor in
    Article&#160;5 hereof contains material misleading statements or
    errors
    <FONT style="white-space: nowrap">and/or</FONT> the
    Pledgor breaches any warranty in Article&#160;5 hereof;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.4&#160;The Pledgor breaches the covenants under
    Article&#160;6 hereof;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.5&#160;The Pledgor breaches another provision of this
    Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.6&#160;The Pledgor waives the pledged Equity Interest or
    transfers or assigns the pledged Equity Interest without prior
    written consent from the Pledgee;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.7&#160;Any of the Pledgor&#146;s external loans, guaranties,
    compensations, undertakings or other obligations (1)&#160;is
    required to be repaid or performed prior to the scheduled due
    date because of a default; or (2)&#160;is due but cannot be
    repaid or performed as scheduled, causing the Pledgee to believe
    that the Pledgor&#146;s ability to perform the obligations
    hereunder has been affected;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.8&#160;The Company is incapable of repaying its general
    debts or other debts;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.9&#160;This Agreement becomes illegal or the Pledgor is not
    capable of continuing to perform the obligations hereunder due
    to any reason other than force majeure;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.10&#160;There have been adverse changes to the properties
    owned by the Pledgor, causing the Pledgee to believe that the
    capability of the Pledgor to perform the obligations hereunder
    has been affected;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.1.11&#160;The breach of the other provisions of this Agreement
    by the Pledgor due to
    <FONT style="white-space: nowrap">his/her</FONT> act
    or omission.
</DIV>
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    3
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.2&#160;The Pledgor shall immediately give a written notice to
    the Pledgee if the Pledgor knows or discovers that any event
    specified under Article&#160;7.1 hereof or any event that may
    result in the foregoing events has occurred.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.3&#160;Unless an event of default under Article&#160;7.1
    hereof has been solved to the Pledgee&#146;s satisfaction, the
    Pledgee, at any time when the event of default occurs or at
    anytime thereafter, may give a written notice of default to the
    Pledgor, requiring the Pledgor to immediately make full payment
    of the outstanding amount under the Technology Agreement and
    loan arrangement or requesting to exercise the Pledge in
    accordance with Article&#160;8 hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;Exercise of the Pledge
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.1&#160;The Pledgor shall not transfer or assign the Equity
    Interest without prior written approval from the Pledgee prior
    to the full repayment of the services fees under the Technology
    Agreement and the full performance of
    <FONT style="white-space: nowrap">his/her</FONT>
    obligations under the Loan Agreement (subject to the latter of
    these two issues).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.2&#160;The Pledgee shall give a notice of default to the
    Pledgor when the Pledgee exercises the Pledge.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.3&#160;Subject to Article&#160;7.3, the Pledgee may exercise
    the Pledge when the Pledgee gives a notice of default in
    accordance with Article&#160;7.3 or at anytime thereafter.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.4&#160;The Pledgee is entitled to priority in receiving
    payment in the form of all or part of the Equity Interest based
    on the conversion value thereof, or from the proceeds from the
    auction or sale of all or part of the Equity Interest in
    accordance with legal procedure, until the outstanding debt and
    all other payables of the Pledgor under Technology Agreement are
    repaid.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.5&#160;The Pledgor shall not hinder the Pledgee from
    exercising the Pledge in accordance with this Agreement and
    shall give necessary assistance so that the Pledgee could fully
    exercise its Pledge.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Assignment
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.1&#160;The Pledgor shall not assign or transfer its rights and
    obligations hereunder without prior consent from the Pledgee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.2&#160;This Agreement shall be binding upon the Pledgor and
    <FONT style="white-space: nowrap">his/her</FONT>
    successors and be binding on the Pledgee and each of its
    successors and permitted assigns.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.3&#160;To the extent permitted by law, the Pledgee may
    transfer or assign any or all of its rights and obligations
    under the Technology Agreement and loan arrangement to any
    person (natural person or legal entity) designated by it at any
    time. In that case, the assignee shall have the same rights and
    obligations as those of the Pledgee as if the assignee was an
    original party hereto. When the Pledgee transfers or assigns the
    rights and obligations under the TechnologyAgreement and loan
    arrangement, it is only required to provide a written notice to
    the Pledgor, and at the request of the Pledgee, the Pledgor
    shall execute the relevant agreements
    <FONT style="white-space: nowrap">and/or</FONT>
    documents with respect to such transfer or assignment.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.4&#160;After the Pledgee has been changed as a result of a
    transfer or an assignment, the new parties to the Pledge shall
    execute a new pledge contract.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Effectiveness and Term
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement is effective as of the date first set forth above
    and from the date when the pledge is recorded on the
    Company&#146;s Register of Shareholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;Termination
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall terminate when the loan under the
    Technology Agreement and loan arrangement has been fully repaid
    and the Pledgor no longer has any outstanding obligations under
    the Loan Agreement. Thereafter, the Pledgee shall cancel or
    terminate this Agreement as soon as reasonably practicable.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Fees and Other Charges
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.1&#160;The Pledgor shall be responsible for all of the fees
    and actual expenses in relation to this Agreement including, but
    not limited to, legal fees, production costs, stamp tax and any
    other taxes and charges. If the Pledgee
</DIV>
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    pays the relevant taxes in accordance with the laws, the Pledgor
    shall fully indemnify the Pledgee for such taxes paid by the
    Pledgee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.2&#160;In the event that the Pledgee has to make a claim
    against the Pledgor by any means as a result of the
    Pledgor&#146;s failure to pay any tax or expense payable by the
    Pledgor under this Agreement, the Pledgor shall be responsible
    for all the expenses arising from such claim (including but not
    limited to any taxes, handling fees, management fees, litigation
    fees, attorney&#146;s fees, and various insurance premiums in
    connection with the disposition of the Pledge).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;Force Majeure
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.1&#160;Force Majeure, which includes but is not limited to
    acts of governments, change of laws and regulations, acts of
    nature, fires, explosions, typhoons, floods, earthquake, tides,
    lightning or war, refers to any unforeseen event that is beyond
    a party&#146;s reasonable control and cannot be prevented with
    reasonable care. However, any insufficiency of creditworthiness,
    capital or financing shall not be regarded as an event beyond a
    party&#146;s reasonable control. The affected party by Force
    Majeure shall promptly notify the other party of such event
    resulting in exemption.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.2&#160;In the event that the affected party is delayed or
    prevented from performing its obligations under this Agreement
    by Force Majeure, and only to the extent of such delay and
    prevention, the affected party shall not be liable for
    obligations under this Agreement. The affected party shall take
    appropriate measures to minimize or remove the effects of Force
    Majeure and attempt to resume performance of the obligations
    that were delayed or prevented by the event of Force Majeure.
    After the event of Force Majeure is removed, both parties agree
    to resume the performance of this Agreement using their best
    efforts.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Confidentiality
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The parties to this Agreement acknowledge and confirm that all
    the oral and written materials exchanged relating to this
    Agreement are confidential. Each party must keep such materials
    confidential and can not disclose such materials to any other
    third party without the other party&#146;s prior written
    approval, unless: (a)&#160;the public knows or will know the
    materials (not due of the disclosure by the receiving party);
    (b)&#160;the disclosed materials are required by law or stock
    exchange rules to be disclosed; or (c)&#160;materials relating
    to the transactions under this Agreement are disclosed to the
    parties&#146; legal or financial advisors, who must keep them
    confidential as well. Disclosure of the confidential information
    by employees or institutions hired by the parties is deemed as
    an act by the parties, therefore, subjecting them to liability.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;Dispute Resolution
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.1&#160;This Agreement shall be governed by and construed in
    accordance with PRC law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.2&#160;The parties shall strive to settle any dispute arising
    from the interpretation or performance of this Agreement through
    friendly consultation. In case no settlement can be reached
    through consultation, each party can submit such matter to the
    China International Economic and Trade Arbitration Commission
    (&#147;CIETAC&#148;) for arbitration. The arbitration shall
    follow the current rules of CIETAC, the arbitration proceedings
    shall be conducted in Chinese and shall take place in Beijing,
    PRC. The arbitration award shall be final and binding upon the
    parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;Notice
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any notice which is given by the parties hereto for the purpose
    of performing the rights and obligations hereunder shall be in
    writing to the bellowing address. Where such notice is delivered
    personally, the time of notice is the time when such notice
    actually reaches the addressee; where such notice is transmitted
    by telex or facsimile, the notice time is the time when such
    notice is transmitted. If such notice does not reach the
    addressee on a business day or reaches the addressee after
    business hours, the next business day following such day is the
    date of notice. The delivery place is the address first written
    above for each of the parties hereto or the address advised by
    such party in writing, including facsimile and telex, from time
    to time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
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    <BR>
    5
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="100%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Legal Address: Baidu Campus, No.&#160;10, Shangdi
    10th&#160;Street,, Haidian District, Beijing, PRC, 100085
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Fax:
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Tel:
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B: Yanhong Li</B>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    PRC ID: 110108196811171874
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Fax:
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Tel:
</DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    17.&#160;Entire Contract
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding Article&#160;10, the parties agree that this
    Agreement constitutes the entire agreement of the parties hereto
    with respect to the subject matters herein upon its
    effectiveness and supersedes and replaces all prior oral
    <FONT style="white-space: nowrap">and/or</FONT>
    written agreements and understandings relating to the subject
    matters of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    18.&#160;Severability
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Should any provision of this Agreement be held invalid or
    unenforceable because of inconsistency with applicable laws,
    such provision shall be invalid or unenforceable only to the
    extent of such applicable laws without affecting the validity or
    enforceability of the remainder of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    19.&#160;Appendices
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The appendices to this Agreement shall constitute an integral
    part of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    20.&#160;Amendment or Supplement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    20.1&#160;The parties may amend or supplement this Agreement by
    written agreement. The amendments or supplements to this
    Agreement duly executed by both parties shall form an integral
    part of this Agreement and shall have the same legal effect as
    this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    20.2&#160;This Agreement and any amendments, modifications,
    supplements, additions or changes hereto shall be in writing and
    shall be effective upon being executed and sealed by the parties
    hereto.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    21.&#160;Counterparts
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement is executed in Chinese in duplicate, with each
    party hereto holding one copy. Both originals have the same
    legal effect.
</DIV>
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    6
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    [Signature Page]
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Pledgee: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="44%"></TD>
    <TD width="56%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal Representative/Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 44%; width: 32%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Pledgor: Yanhong Li</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yanhong
    Li</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 9%; width: 32%;  align: left; border-bottom: 1pt solid #000000"></DIV>
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    <BR>
    7
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Appendix&#160;1</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Register
    of Members of Baidu HR Consulting (Shanghai) Co., Ltd.</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name of Shareholder: Yanhong Li
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    PRC ID: 110108196811171874
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Address:
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Capital Contribution: RMB 50,000,000
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Percentage of Capital Contribution: 100%
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No. of Certification of Capital Contribution: 001
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Yanhong Li holds 100% of shares of Baidu HR Consulting
    (Shanghai) Co., Ltd.. All such shares have been pledged to Baidu
    Online Network Technology (Beijing) Co., Ltd.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu Online Network Technology (Beijing) Co., Ltd. holds 100%
    pledge of Baidu HR Consulting (Shanghai) Co., Ltd.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu HR Consulting (Shanghai) Co., Ltd.
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yanhong
    Li</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 9%; width: 32%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <U>Name: Yanhong Li</U>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <U>Title: Legal Representative</U>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <U>Seal: [Baidu HR Consulting (Shanghai) Co., Ltd. seal]</U>
</DIV>
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<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Appendix&#160;2</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Shareholder
    Resolution of Baidu HR Consulting (Shanghai) Co., Ltd.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Shareholder&#146;s meeting of Baidu HR Consulting (Shanghai)
    Co., Ltd. DO HEREBY CONSENT to the adoption of the following
    resolutions regarding the Equity Pledge Agreement made by and
    between the Shareholders of Baidu HR Consulting (Shanghai) Co.,
    Ltd. and Baidu Online Network Technology (Beijing) Co., Ltd.:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Agree that each of the Baidu HR Consulting (Shanghai) Co.,
    Ltd.&#146;s shareholders pledge
    <FONT style="white-space: nowrap">his/her</FONT>
    shares to Baidu Online Network Technology (Beijing) Co., Ltd.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This resolution was signed and submitted by the following
    shareholder on December&#160;28, 2010.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Shareholder: Yanhong Li
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yanhong
    Li</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 9%; width: 32%;  align: left; border-bottom: 1pt solid #000000"></DIV>
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</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.45
<SEQUENCE>22
<FILENAME>h04360dexv4w45.htm
<DESCRIPTION>EX-4.45
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w45</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.45</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">EXCLUSIVE
    EQUITY PURCHASE OPTION AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Exclusive Equity Purchase Option Agreement (this
    &#147;Agreement&#148;) is entered into as of December&#160;28,
    2010 among the following parties in Beijing, PRC:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="15%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="83%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Baidu Campus, No. 10, Shangdi 10th&#160;Street,, Haidian
    District, Beijing, PRC, 100085
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Yanhong Li</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>ID Number:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    110108196811171874
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu HR Consulting (Shanghai) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No. 713-1, No. 200 Huiyuan Road, Jiading District, Shanghai,
    PRC, 201807
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In this Agreement, Party A, Party B and Party C are called
    collectively as the &#147;Parties&#148; and each of them is a
    &#147;Party.&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">WHEREAS:</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A, is a wholly foreign-owned enterprise
    incorporated under the laws of the People&#146;s Republic of
    China (the &#147;PRC&#148;), which has technology expertise and
    practical experience in computer software development and
    design, and also has rich experience and expertise in
    information technology and service;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party C, a liability limited company incorporated in the
    Shanghai, PRC, whichcarry out the business ofvalue-added
    telecommunication services such as Internet information services;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Party B is the shareholder of Party C. Party B has
    ownership
    of&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<U>100</U>&#160;&#160;&#160;&#160;&#160;%
    of the equity interest in Party C (the &#147;Equity
    Interest&#148;);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Party A and Party B entered into a loan agreement (the
    &#147;Loan Agreement&#148;) on December&#160;28, 2010, according
    to which Party B may get loan from Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Party A and Party B entered into Exclusive Technology
    Consulting and Services Agreement (the &#147;Technology
    Agreement&#148;) and other agreements;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Party A and Party B entered into an equity pledge
    agreement (the &#147;Equity Pledge Agreement&#148;) on
    December&#160;28, 2010.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE</B>, the Parties upon negotiation hereby agree
    as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;<U>Purchase and Sale of Equity Interest</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.1&#160;Granting of Rights
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party B hereby irrevocably grants to Party A an option to
    purchase or cause any one or more designated persons
    (&#147;Designated Persons&#148;) to purchase, to the extent
    permitted under PRC law, according to the steps determined by
    Party A, at the price specified in Section&#160;1.3 of this
    Agreement, and at any time from the Transferor, a portion of, or
    all of, the equity interests held by the Transferor in Party C
    (the &#147;Option&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No Option shall be granted to any third party other than Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons. Party C hereby agrees to the granting of the
    Option by Party B to Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons. The &#147;person&#148; set forth in this
    clause and this Agreement means an individual person,
    corporation, joint venture, partnership, enterprise, trust or a
    non-corporation organization.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.2&#160;Exercise Steps
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.3&#160;Subject to PRC law and regulations, Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons may exercise the Option by issuing a written
    notice (the &#147;Notice&#148;) to the Transferor, specifying
    the equity interest to be purchased from the Transferor (the
    &#147;Purchased Equity Interest&#148;) and the manner of such
    purchase. Purchase Price
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.3.1&#160;If Party A exercises the Option, the purchase price
    of the Purchased Equity Interest (&#147;Purchase Price&#148;)
    shall be equal to the original paid-in capital paid by the
    Transferor for the Purchased Equity Interest, unless then
    applicable PRC laws and regulations require appraisal of the
    Purchased Equity Interest or stipulate other restrictions on the
    Purchase price.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.3.2&#160;If the applicable PRC laws require appraisal of the
    Purchased Equity Interest or stipulate other restrictions on the
    Purchase Price at the time that Party A exercises the Option,
    the Parties agree that the Purchase Price shall be set at the
    lowest price permissible under applicable law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4&#160;Transfer of the Purchased Equity Interest
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    At each exercise of the Option:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4.1&#160;The Transferor shall, in accordance the terms and
    conditions of this Agreement and the Notice in connection with
    the Purchased Equity Interest, enter into an equity transfer
    agreement, content and format of which should be satisfied by
    Party A, with Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons (as applicable) for each transfer;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.4.2&#160;The Transferor shall execute all other requisite
    contracts, agreements or documents, obtain all requisite
    government approvals and consents, and take all necessary
    actions to transfer the valid ownership of the Purchased Equity
    Interest to Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons free of any security interest and other
    conditions, and cause Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons to be the registered owner(s) of the
    Purchased Equity Interest. In this clause and this Agreement,
    &#147;Security Interest&#148; includes, but not limited to,
    guaranty, mortgage, pledge, third-party right or interest, any
    share option, right of acquisition, right of first refusal,
    right of set-off, ownership, detainment or other security
    arrangements. However, it does not include any security interest
    arising under the Equity Pledge Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.5&#160;Payment
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The manner of payment of the Purchase Price shall be determined
    through negotiations between Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons and the Transferor according to the
    applicable laws at the time of the exercise of the Option. The
    Parties hereby agree that, subject to applicable laws,
    Transferor shall repay to Party A any amount that is paid by
    Party A
    <FONT style="white-space: nowrap">and/or</FONT> the
    Designated Persons to the Transferor in connection with the
    Purchased Equity Interest (The taxes, if any, from the
    transaction according to the transfer agreement made by the
    transferor shall be deducted from such amount).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;<U>Covenants Relating to the Equity Interest</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1&#160;Covenants Relating to Party C
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party B and Party C hereby covenant, for the issues involving
    Party C:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.1&#160;Not to supplement, amend or modify Party C&#146;s
    articles of association in any way, or to increase or decrease
    its registered capital, or to change its registered capital
    structure in any way without Party A&#146;s prior written
    consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.2&#160;To maintain the corporate existence of Party C and
    operate its business and deal with matters prudently and
    effectively according to good financial and business rules and
    practices;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.3&#160;Not to sell, transfer, mortgage or otherwise dispose
    of, or permit any other security interest to be created on, any
    of Party C&#146;s assets, business or legal or beneficial
    interests in its revenue at any time after the signing of this
    Agreement without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.4&#160;Not to create, succeed to, guarantee or permit any
    liability, without Party A&#146;s prior written consent, except
    (i)&#160;liabilities arising from the normal course of business,
    but not arising from loans; and (ii)&#160;liabilities disclosed
    to Party A and approved by Party A in writing;
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.5&#160;To operate persistently all the business in the
    normal course of business to maintain the value of Party
    C&#146;s assets, and not to commit any act or omission that
    would affect its operations and asset value;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.6&#160;Without prior written consent by Party A, not to
    enter into any material agreement, other than agreements entered
    into in Party C&#146;s normal course of business (for purpose of
    this paragraph, an agreement will be deemed material if its
    value exceeds RMB[100,000]);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.7&#160;Not to provide loans or credit to any person without
    Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.8&#160;To provide all information relating to Party C&#146;s
    operations and financial conditions upon the request of Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.9&#160;To purchase and maintain insurance from insurance
    companies accepted by Party A. The amount and category of the
    insurance shall the same as those of the insurance normally
    procured by companies engaged in similar businesses and
    possessing similar properties or assets in the area where Party
    C is located;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.10&#160;Not to merge or consolidate with, or acquire or
    invest in, any person without Party A&#146;s prior written
    consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.11&#160;To promptly notify Party A of any pending or
    threatened suit, arbitration or administrative proceedings
    concerning Party C&#146;s assets, business or revenue;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.12&#160;To execute all necessary or appropriate documents,
    to take all necessary or appropriate actions and to bring all
    necessary or appropriate claims or to make all necessary and
    appropriate defenses against all claims in order for Party C to
    maintain the ownership over all its assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.13&#160;Not to distribute dividends to Party C&#146;s
    shareholders in any way without Party A&#146;s prior written
    consent. However, Party C shall promptly distribute all or part
    of its distributable profits to its shareholders upon Party
    A&#146;s request;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.1.14&#160;At the request of Party A, to appoint persons
    nominated by Party A to be the executive directors of
    Party&#160;C.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2&#160;Covenants Relating to the Transferor
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party B hereby covenants:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.1&#160;Not to sell, transfer, mortgage or otherwise dispose
    of, or allow any other security interest to be created on, the
    legal or beneficial interest in the Equity Interest at any time
    after the signing of this Agreement without Party A&#146;s prior
    written consent, other than the pledge created on Party B&#146;s
    Equity Interest in accordance with the Equity Pledge Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.2&#160;Without Party A&#146;s prior written consent, not to
    vote for or sign any shareholders&#146; resolution at Party
    C&#146;s shareholders&#146; meetings to approve the sale,
    transfer, mortgage or disposition in any other manner of, or the
    creation of any other security interest on, any legal or
    beneficial interest in the Equity Interest, except to or for the
    benefit of Party A or its designated persons;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.3&#160;Without Party A&#146;s prior written consent, not to
    vote for or sign any shareholders&#146; resolution at Party
    C&#146;s shareholders&#146; meetings to approve Party C&#146;s
    merger or consolidation with, acquisition of or investment in,
    any person;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.4&#160;To promptly notify Party A of any pending or
    threatened suit, arbitration or administrative proceedings
    concerning the Equity Interest owned by it;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.5&#160;To execute all necessary or appropriate documents, to
    take all necessary or appropriate actions and to bring all
    necessary or appropriate claims or to make all necessary and
    appropriate defenses against all claims in order to maintain
    <FONT style="white-space: nowrap">his/her</FONT>
    ownership over the Equity Interest;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.6&#160;At the request of Party A, to appoint persons
    nominated by Party A to be the executive directors of
    Party&#160;C;
</DIV>
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    <BR>
    3
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.7&#160;At any time, upon the request of Party A, to transfer
    its Equity Interest immediately and unconditionally to the
    representative designated by Party A, and waive its preemptive
    right with respect to the transfer of equity interest by the
    other shareholder of Party C;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.8&#160;To fully comply with the provisions of this Agreement
    and the other agreements entered into jointly or respectively by
    and among the Transferor, Party C and Party A, perform all
    obligations under these agreements and not commit any act or
    omission that would affect the validity and enforceability of
    these agreements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.9&#160;Any and all earnings distributed from Party C and
    otherwise distributed shall be paid to Party A in full amount.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3&#160;Covenants Relating to Party A:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party A hereby covenants:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3.1&#160;To provide funding support unconditionally and
    unlimitedly to Party C within acceptable and reasonable scope if
    Party C needs any loan or other funding support during Party
    C&#146;s business operations;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3.2&#160;To waive unconditionally its claim for repayment of
    any loan from Party C if Party C fails to do so because Party C
    experiences loss in its business operations, provided that such
    loss may be sufficiently evidenced.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;<U>Representations and Warranties</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of the execution date of this Agreement and every transfer
    date, each of the Transferor and Party C hereby represents and
    warrants to Party A as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.1&#160;It has the power and authority to execute and deliver
    this Agreement, and any equity transfer agreement
    (&#147;Transfer Agreement&#148;) to which it is party for each
    transfer of the Purchased Equity under this Agreement and to
    perform its obligations under this Agreement and any Transfer
    Agreement. Once executed, this Agreement and any Transfer
    Agreement to which it is party will constitute a legal, valid
    and binding obligation of it enforceable against it in
    accordance with its terms;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.2&#160;The execution, delivery and performance of this
    Agreement or any Transfer Agreement by it will not:
    (i)&#160;violate any relevant PRC laws and regulations;
    (ii)&#160;conflict with its articles of association or other
    organizational documents; (iii)&#160;violate or constitute a
    default under any contract or instrument to which it is party or
    that binds upon it; (iv)&#160;violate any condition for the
    grant <FONT style="white-space: nowrap">and/or</FONT>
    continued effectiveness of any permit or approval granted to it;
    or (v)&#160;cause any permit or approval granted to it to be
    suspended, cancelled or attached with additional conditions;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.3&#160;Party C has good and marketable ownership interest in
    all of its assets and has not created any security interest on
    the said assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.4&#160;Party C has no outstanding liabilities, except
    (i)&#160;liabilities arising in its normal course of business;
    and (ii)&#160;liabilities disclosed to Party A and approved by
    Party A in writing;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.5&#160;There are currently no existing, pending or threatened
    litigation, arbitration or administrative proceedings related to
    the Equity Interest, Party C&#146;s assets or Party C;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.6&#160;The Transferor has good and marketable ownership
    interest in the Equity Interest and has not created any security
    interest on such Equity Interest, other than the security
    interest pursuant to the Equity Pledge Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;<U>Assignment of Agreement</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.1&#160;Party B and Party C shall not assign their rights and
    obligations under this Agreement to any third party without the
    prior written consent of Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.2&#160;Party B and Party C hereby agree that Party A may
    assign all its rights and obligation under this Agreement to a
    third party without the consent of Party B and Party C, but such
    assignment shall be notified in writing to Party B and Party C.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;<U>Effective Date and Term</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.1&#160;This Agreement shall be effective as of the date first
    set forth above.
</DIV>
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    <BR>
    4
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.2&#160;The term of this Agreement is ten (10)&#160;years
    unless terminated earlier in accordance with the provisions of
    this Agreement or related agreements entered into by the
    Parties. Party B and Party C confirm that this Agreement may be
    extended with the written consent of Party A before its
    expiration and there is no need to get consent from Party B and
    Party C.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.3&#160;If the duration of operation (including any extension
    thereof) of Party A or Party C is expired or terminated for
    other reasons within the term set forth in Article 5.2, this
    Agreement shall be terminated simultaneously, except in the
    situation where Party A has assigned its rights and obligations
    in accordance with Article&#160;4.2 hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;<U>Applicable Law and Dispute Resolution</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.1&#160;Applicable Law
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The formation, validity, interpretation and performance of and
    settlement of disputes under this Agreement shall be governed by
    the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.2&#160;Dispute Resolution
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any dispute arising in connection with the interpretation and
    performance of the provisions of this Agreement shall be
    resolved by the Parties in good faith through negotiations. In
    case no resolution can be reached by the Parties within thirty
    (30)&#160;days after either party makes a request for dispute
    resolution through negotiations, either party may refer such
    dispute to China International Economic and Trade Arbitration
    Commission (&#147;CIETAC&#148;) for arbitration in accordance
    with CIETAC&#146;s arbitration rules then in effect. The seat of
    arbitration shall be Beijing and language of proceedings shall
    be Chinese. The arbitral award shall be final and binding upon
    the Parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;<U>Taxes and Expenses</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Every Party shall, in accordance with PRC laws, bear any and all
    transfer and registration taxes, expenses and charges incurred
    by or levied on it with respect to the preparation and execution
    of this Agreement and each Transfer Agreement and the
    consummation of the transactions contemplated under this
    Agreement and each Transfer Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;<U>Confidentiality</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Parties acknowledge and confirm any oral or written
    materials exchanged by the Parties in connection with this
    Agreement are confidential. The Parties shall maintain the
    confidentiality of all such materials. Without the written
    approval by the other Parties, any Party shall not disclose to
    any third party any relevant materials, but the following
    circumstances shall be excluded:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.1&#160;Materials that are or will become known by the public
    (through no fault of the receiving party);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.2&#160;Materials required to be disclosed by the applicable
    laws or rules of the stock exchange;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.3&#160;Materials disclosed by each Party to its legal or
    financial advisors relating the transactions contemplated by
    this Agreement, and such legal or financial advisors shall
    comply with the confidentiality provisions set forth in this
    Article&#160;8.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Notices
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notices or other communications required to be given by any
    party pursuant to this Agreement shall be written in Chinese and
    delivered personally or sent by mail or facsimile transmission
    to the address of each relevant party or both parties set forth
    below or such other address or addressees as specified by such
    party from time to time. The date when the notice is deemed to
    be duly served shall be determined as follows: (a)&#160;a notice
    delivered personally is deemed duly served upon delivery;
    (b)&#160;a notice sent by mail is deemed duly served the tenth
    (10th) day after the date when the postage prepaid registered
    airmail was sent out (as is shown on the postmark), or the
    fourth (4th) day after the delivery date to the
    internationally-recognized courier service agency; and
    (c)&#160;a notice sent by facsimile transmission is deemed duly
    served upon the receipt time as is shown on the transmission
    confirmation for relevant documents.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
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    <BR>
    5
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="89%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Address: Baidu Campus, No. 10,<BR>
    Shangdi 10th&#160;Street,, Haidian District, Beijing,<BR>
    PRC, 100085
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Attn:
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Fax:
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Tel:
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Yanhong Li</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    ID No.: 110108196811171874
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Fax:
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Tel:
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu HR Consulting (Shanghai) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Address: No. 713-1, No. 200 Huiyuan Road, <BR>
    Jiading District, Shanghai, <BR>
    PRC, 201807
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Attn:
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Fax:
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Tel:
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;<U>Further Assurances</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Parties agree to promptly execute documents and take further
    actions that are reasonably required for, or beneficial to, the
    purpose of performing the provisions and carrying out the intent
    of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;<U>Miscellaneous</U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.1&#160;Amendment, Modification or Supplement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any amendment or supplement to this Agreement shall be made by
    the Parties in writing. The amendments or supplements duly
    executed by each Party shall be deemed as a part of this
    Agreement and shall have the same legal effect as this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.2&#160;Entire Agreement
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notwithstanding Article&#160;5 of this Agreement, the Parties
    acknowledge that once this Agreement becomes effective, it shall
    constitute the entire agreement of the Parties with respect to
    the subject matters hereof and shall supersede all prior oral
    <FONT style="white-space: nowrap">and/or</FONT>
    written agreements and understandings by the Parties with
    respect to the subject matters hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.3&#160;Severability
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If any provision of this Agreement is judged to be invalid,
    illegal or unenforceable in any respect according to any
    applicable law or regulation, the validity, legality and
    enforceability of the other provisions hereof shall not be
    affected or impaired in any way. The Parties shall, through
    good-faith negotiations, replace those invalid, illegal or
    unenforceable provisions with valid provisions that may bring
    about economic effects as similar as possible to those from such
    invalid, illegal or unenforceable provisions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.4&#160;Headings
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The headings contained in this Agreement are for the convenience
    of reference only and shall not be used for the interpretation
    or explanation or otherwise affect the meaning of the provisions
    of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.5&#160;Language and Copies
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement is executed in Chinese in three copies; each
    Party holds one copy and each copy has the same legal effect.
</DIV>
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<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.6&#160;Successor
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall bind upon and inure to the benefit of the
    successors and permitted assigns of each Party.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.7&#160;Survival
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any obligation arising from or becoming due under this Agreement
    before its expiration or premature termination shall survive
    such expiration or premature termination. Articles&#160;6, 8 and
    9 and this Section&#160;11.7 shall survive the termination of
    this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.8&#160;Waiver
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Any Party may waive the terms and conditions of this Agreement
    by a written instrument signed by the Parties. Any waiver by a
    Party to a breach by the other Parties in a specific situation
    shall not be construed as a waiver to any similar breach by the
    other Parties in other situations.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS WHEREOF</B>, each Party has caused this Agreement
    to be executed by himself/herself, its legal representative or
    its duly authorized representative as of the date first written
    above.
</DIV>
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    <BR>
    7
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    [Signature Page]
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="44%"></TD>
    <TD width="56%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal Representative/Authorized Representative:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 44%; width: 32%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Party B:
    Yanhong Li</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="10%"></TD>
    <TD width="90%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Signature: &#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yanhong
    Li</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 10%; width: 32%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party C: Baidu HR Consulting (Shanghai) Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="44%"></TD>
    <TD width="56%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Legal Representative/Authorized Representative: &#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yanhong
    Li</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 44%; width: 32%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu HR Consulting (Shanghai) Co., Ltd seals]
</DIV>
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    <BR>
    8
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</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.46
<SEQUENCE>23
<FILENAME>h04360dexv4w46.htm
<DESCRIPTION>EX-4.46
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w46</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit
    4.46</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">LOAN
    AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Loan Agreement (the &#147;Agreement&#148;) is entered into
    in Beijing, PRC as of December&#160;28, 2010 by the following
    parties.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Party A:
    Baidu Online Network Technology (Beijing) Co., Ltd.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Registration Address: Baidu Campus, No.&#160;10, <BR>
    Shangdi 10th&#160;Street,, <BR>
    Haidian District, Beijing, <BR>
    PRC, 100085
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Party B:
    Yanhong Li</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    ID No.: 110108196811171874<BR>
    Address:
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">WHEREAS,</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A is a wholly-owned foreign enterprise
    incorporated in the People&#146;s Republic of China (the
    &#147;PRC&#148;);&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B is a citizen of the PRC and the shareholder of
    Baidu HR Consulting (Shanghai) Co., Ltd. (the
    &#147;Company&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE</B>, through friendly negotiations, the parties
    hereto agree as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A agrees to provide an interest-free loan to Party
    B with an aggregate principal amount of
    RMB&#160;<U>50,000,000</U> in accordance with the terms and
    conditions set forth in this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B confirms that he has received the total amount
    of the loan and has invested it into the Company as capital
    contribution.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;The Term of the loan starts from the date when Party B
    received the loan until ten (10)&#160;years after the execution
    of this Agreement and may be extended upon written agreement of
    the parties hereto. During the term of the loan or any extension
    thereof, Party A may notify Party B in writing that the loan
    under this Agreement is due and payable immediately and request
    Party B to repay the loan in the manner specified herein, if any
    of the following events occurs:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Party B resigns from or is dismissed by Party A or its
    affiliates;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Party B dies or becomes a person without capacity or
    with limited capacity for civil acts;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Party B commits a crime or is involved in a crime;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Any other third party claims more than RMB[100,000]
    against Party B;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;Subject to PRC laws, Party A or its designated person
    is permitted to invest in the business of value-added
    telecommunications services, such as Internet information
    services, as well as other businesses that the Company is
    engaged in, and Party A has given a written notice to the
    Company to exercise its purchase option in accordance with the
    exclusive equity purchase option agreement specified in
    Article&#160;4 of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Both parties hereby agree and confirm that, subject to
    PRC laws, Party A shall have the right, but not the obligation,
    to purchase, or designate other persons (including natural
    persons, legal persons or other entities) to purchase, at
    anytime all or part of the equity interests held by Party B in
    the Company (the &#147;Option Right&#148;), provided, however,
    that Party A shall notify Party B in writing of such purchase of
    equity interests. Once the written notice for exercising the
    Option Right is given by Party A, Party B shall, according to
    Party A&#146;s intention or instruction, transfer his equity
    interests in the Company to Party A or other persons designated
    by Party A at his
</DIV>
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    original investment price (the &#147;Original Investment
    Price&#148;) or, if otherwise specified by laws, at an other
    price agreed upon by Party A. Both parties agree and confirm
    that, if at the time of Party A&#146;s exercise of the Option
    Right, the lowest price permitted under then applicable laws and
    regulations is higher than the Original Investment Price, the
    purchase price to be paid by Party A or its designated persons
    shall be the lowest price permitted by applicable law. Both
    parties agree to execute an Exclusive Equity Purchase Option
    Agreement (the &#147;Option Agreement&#148;) in connection with
    the above matters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;Both parties hereby agree and confirm that Party B may
    repay the loan only in the following manner: if permitted by PRC
    laws, Party B or its successor or assign shall transfer the
    equity interests in the Company to Party A or its designated
    persons and use the proceeds from such transfer to repay the
    loan, or otherwise agreed by both parties, when the loan is due
    and Party A gives a written notice.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Both parties hereby agree and confirm that, except as
    otherwise provided for herein, the loan under this Agreement is
    interest-free. However, if, at the time the loan is due and
    Party B needs to transfer his equity interests in the Company to
    Party A or its designated persons, the actual transfer price is
    higher than the loan principal due to legal requirements or
    other reasons, the amount in excess of the loan principal, to
    the extent permitted by law, shall be deemed as interests or
    capital utilization cost, which shall be repaid to Party A
    together with the loan principal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    7.&#160;Both parties hereby agree and confirm that Party B shall
    be deemed to have fully performed his obligations under this
    Agreement only if the following requirements are met:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Party B has transferred all his equity interests in the
    Company to Party A
    <FONT style="white-space: nowrap">and/or</FONT> its
    designated persons; and,
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Party B has paid the total proceeds from such transfer
    or the maximum amount (including principal and the highest loan
    interest permitted under then applicable law) allowed by
    applicable law as repayment of the loan to Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    8.&#160;To secure the performance of his obligations under this
    Agreement, Party B agrees to pledge all his equity interests in
    the Company to Party A (the &#147;Equity Pledge&#148;). Both
    parties agree to execute an Equity Pledge Agreement (the
    &#147;Equity Pledge Agreement&#148;) in connection with the
    above matters.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    9.&#160;Party A hereby represents and warrants to Party B that,
    as of the execution date of this Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Party A is a wholly foreign-owned enterprise
    incorporated and validly existing under the laws of PRC;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Party A has the right to execute and perform this
    Agreement. The execution and performance of this Agreement by
    Party A comply with its business scope, articles of association
    and other organizational documents. Party A has obtained all
    necessary and appropriate approvals and authorizations for the
    execution and performance of this Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;The principal of the loan to Party B is legally owned
    by Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;The execution and performance of this Agreement by
    Party A do not violate any laws, regulations, approvals,
    authorizations, notices, other governmental documents to which
    Party A is subject, any agreement signed by it with any third
    party or any undertaking made by it to any third party;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;When executed by the parties hereto, this Agreement
    shall constitute the legal, valid and binding obligations of
    Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    10.&#160;Party B hereby represents and warrants to Party A that,
    from the execution date of this Agreement until this Agreement
    terminates:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;The Company is a limited liability company incorporated
    and validly existing under the laws of PRC and Party B is a
    legal holder of the equity interest of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Party B has the right to execute and perform this
    Agreement. The execution and performance of this Agreement by
    Party B comply with its business scope, articles of association
    and other organizational
</DIV>
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    <BR>
    2
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    documents. Party B has obtained all necessary and appropriate
    approvals and authorizations for the execution and performance
    of this Agreement;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;The execution and the performance of this Agreement by
    Party B do not violate any laws, regulations, approvals,
    authorizations, notices, other governmental documents to which
    Party B is subject, any agreement signed by Party B with any
    third party or any undertaking made by Party B to any third
    party;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;When executed by the parties hereto, this Agreement
    shall constitute the legal, valid and binding obligations of
    Party B;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;Party B has paid contribution in full for its equity
    interests in the Company in accordance with applicable laws and
    regulations;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;Except pursuant to the Equity Pledge Agreement and
    Option Agreement, Party B has not pledged or created any other
    security interest on, made any offer to any third party to
    transfer, accepted the offer of any third party to purchase, or
    execute agreement with any third party to transfer, Party
    B&#146;s equity interests in the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;There are no pending or threatened disputes,
    litigation, arbitration or other administrative proceedings or
    other legal proceedings in connection with the equity interests
    of the Company held by Party B;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;The Company has completed all necessary governmental
    approval, license, registration and filing.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    11.&#160;Party B covenants that it shall, during the term of
    this Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Not sell, transfer, pledge or dispose in any other
    manner of his equity or other interests in the Company, or allow
    the creation of other security interests thereon, without Party
    A&#146;s prior written consent, except for equity pledges or
    other rights created for the benefit of Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Not vote for at shareholder&#146;s meetings of the
    Company or execute any shareholders&#146; resolutions approving
    the sale, transfer, pledge, disposition in any other manner, or
    the creation of any other security interest on, any legal or
    beneficial interest in the equity of the Company without Party
    A&#146;s prior written consent, except to or for the benefit of
    Party A or its designated persons;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Not vote for at shareholder&#146;s meetings of the
    Company or execute any shareholders&#146; resolutions approving
    the Company to merge or combine with, acquire or invest in any
    person without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Promptly inform Party A of any pending or threatened
    litigation, arbitration or regulatory proceeding concerning the
    equity interests of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;Execute all necessary or appropriate documents, take
    all necessary or appropriate actions, bring all necessary or
    appropriate lawsuits or assert all necessary and appropriate
    defenses against all claims in order to maintain his equity
    interests of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;Not commit any act or omission that may materially
    affect the assets, business and liabilities of the Company
    without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;Appoint any person nominated by Party A to be the
    executive director of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;Upon Party A&#146;s exercise of its Option Right,
    transfer promptly and unconditionally, all of Party B&#146;s
    equity interests in the Company to Party A or a person
    designated by Party A, provided that such transfer is permitted
    under the laws of PRC;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;Not request the Company to distribute dividends or
    profits;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (j)&#160;Once he has transferred his equity interests in the
    Company to Party A or its designated persons, promptly repay,
    subject to applicable laws, the proceeds received for such
    transfer in full, as the loan principal and loan interests or
    capital utilization cost allowed by laws, to Party A;&#160;and
</DIV>
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    <BR>
    3
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<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (k)&#160;Comply strictly with the terms of this Agreement, and
    perform the obligations pursuant to this Agreement and not
    commit any act or omission that would affect the validity and
    enforceability of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    12.&#160;Party B, as the shareholder of the Company, covenants
    that he shall cause the Company, during the term of this
    Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Not to supply, amend or modify its articles of
    association, or to increase or decrease its registered capital,
    or to change its capital structure in any way without Party
    A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;To maintain and operate its business and deal with
    matters prudently and effectively, in accordance with good
    financial and business rules and practices;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Not to sell, transfer, mortgage, dispose of in any
    other manner, or to create other security interest on, any of
    its assets, business or legal or beneficial right to its
    revenues without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Not to create, succeed to, guarantee or permit any
    liability, without the Party A&#146;s prior written consent,
    except (i)&#160;the liability arising from the ordinary course
    of business, but not arising through Party B; and (ii)&#160;the
    liability reported to and approved by Party A in writing;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (e)&#160;To operate persistently all the business and to
    maintain the value of its assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (f)&#160;Not to execute any material contracts (for the purpose
    of this paragraph, a contract will be deemed material if the
    value of it exceeds RMB[100,000]), without Party A&#146;s prior
    written consent, other than those executed during the ordinary
    course of business;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (g)&#160;To provide information concerning all of its operation
    and financial affairs upon Party A&#146;s request;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (h)&#160;Not to merge or combine with, acquire or invest in, any
    other person without Party A&#146;s prior written consent;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (i)&#160;Not to issue dividends to shareholders in any form
    without Party A&#146;s prior written consent. However, the
    Company shall promptly distributable all its distributable
    profits to each of its shareholders upon Party A&#146;s request;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (j)&#160;To inform promptly Party A of any pending or threatened
    suit, arbitration or regulatory proceeding concerning the
    assets, business or revenue of the Company;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (k)&#160;To execute all necessary or appropriate documents, take
    all necessary or appropriate actions, bring all necessary or
    appropriate lawsuits or assert all necessary and appropriate
    defenses against all claims in order to maintain the ownership
    of all its assets;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (l)&#160;To comply strictly with the terms of the Exclusive
    Technology Consulting and Service Agreement and other agreements
    between Party A and the Company, perform its obligations under
    aforesaid agreements, and not commit any act or omission that
    would affect the validity and enforceability of such agreements.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    13.&#160;This agreement shall inure to the benefit of and be
    binding upon the parties hereto and their respective successors
    and assignees. Without prior written approval of Party A, Party
    B can not assign, pledge or otherwise transfer any right,
    benefit or obligation under this agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    14.&#160;Party B agrees that Party A can assign its rights and
    duties under this Agreement to a third party when it thinks
    necessary, in which case Party A only needs to give a written
    notice to Party B and no further consent of Party B is required.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    15.&#160;The execution, validity, interpretation, performance,
    amendment, termination and resolution of disputes in connection
    with this Agreement shall be governed by the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    16.&#160;Arbitration.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Both parties shall strive to settle any dispute, conflict, or
    claim arising from the interpretation or performance (including
    any issue relating to the existence, validity and termination of
    this Agreement) in connection with this Agreement through
    friendly consultation. In case no settlement can be reached
    within thirty (30)&#160;day after one party
</DIV>
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    <BR>
    4
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    requests for the settlement, each party may submit such dispute
    to China International Economic and Trade Arbitration Commission
    (the &#147;CIETAC&#148;) for arbitration in accordance with its
    rules. The arbitration award shall be final and binding upon the
    parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The seat of the arbitration shall be Beijing.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The language for the arbitration proceedings shall be Chinese.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    17.&#160;This Agreement shall be formed on the date of
    execution. And both parties hereto agree that the terms and
    conditions of this Agreement shall be effective as of the date
    on which Party B has obtained the loan and shall expire when
    both parties have fully performed their obligations under this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    18.&#160;Party B cannot terminate or revoke this Agreement
    unless (a)&#160;Party A commits a gross negligence, fraud or
    other material illegal acts; or (b)&#160;Party A goes bankrupt.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    19.&#160;This Agreement may not be amended or modified except
    with a written agreement reached by both parties. In case of
    anything not covered herein, both parties may sign a written
    supplementary agreement. Any amendment, modification, supplement
    or annex to this Agreement shall form an integral part of this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    20.&#160;This Agreement constitutes the entire agreement of the
    parties hereto with respect to the subject matters hereof and
    supersedes all prior verbal discussions or written agreements
    between the parties with respect to subject matters hereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    21.&#160;This Agreement is severable. If any clause of this
    Agreement is held to be invalid or unenforceable, such
    invalidity or unenforceability shall have no effect on the
    validity or enforceability of the remainder of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    22.&#160;Each party should protect the confidentiality of the
    information concerning the other party&#146;s business,
    operation, financial situation or other confidential information
    obtained under this Agreement or during the performance of this
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    23.&#160;Any obligation arising from or becoming due under this
    Agreement before the expiration or early termination of this
    Agreement shall survive such expiration or early termination.
    The Articles&#160;15, 16 and 22 of this Agreement shall survive
    the termination of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    24.&#160;This Agreement shall be executed in two originals, with
    each party holding one original. All originals shall have the
    same legal effect.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IN WITNESS WHEREOF</B>, each party has caused this Agreement
    to be executed by himself, its legal representative or its duly
    authorized representative as of the date first written above.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    5
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 49%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    [Signature Page]
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 49%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Party A:
    Baidu Online Network Technology (Beijing) Co., Ltd.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Legal Representative/Authorized Representative:
    /s/&#160;&#160;Haoyu Shen
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal: [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 49%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: Yanhong Li</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 49%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Signature:&#160;<DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yanhong
    Li</DIV>
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    6
</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.47
<SEQUENCE>24
<FILENAME>h04360dexv4w47.htm
<DESCRIPTION>EX-4.47
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w47</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit
    4.47</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">TRADEMARK
    TRANSFER AGREEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Trademark Transfer Agreement (the &#147;Agreement&#148;) is
    entered into as of March&#160;1, 2010 between the following two
    parties in Beijing, PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="15%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="83%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>The Assignor:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    3/F, Baidu Campus, No. 10, <BR>
    Shangdi 10th&#160;Street,, <BR>
    Haidian District, Beijing, <BR>
    PRC, 100085
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>The Assignee:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Legal Address:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2/F, Baidu Campus, No. 10, <BR>
    Shangdi 10th&#160;Street,, <BR>
    Haidian District, Beijing, <BR>
    PRC, 100085
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">WHEREAS:</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;The Assignor, a wholly-owned foreign enterprise
    registered in Beijing under the laws of People&#146;s Republic
    of China (the &#147;PRC&#148;), which owns the trademarks
    (Classification No.: 9; Registered No.: 1582475);
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;The Assignee, a domestic company registered in Beijing
    under the laws of the PRC, is licensed by Beijing Municipal
    Telecommunication Management Bureau to carry on the business of
    the Internet Information Service;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;The Assignor agrees to transfer the trademarks to the
    Assignee in accordance with the terms and conditions set forth
    herein and the Assignee agrees to accept the transfer on the
    terms and conditions set forth herein;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW THEREFORE:</B>&#160;the parties agree as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;The Assignor hereby transfers the ownership and all
    other rights of the trademarks to the Assignee and the Assignee
    hereby accepts the transfer.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="4%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    2.&#160;&#160;
</TD>
    <TD align="left">
    Fees for Transfer
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Assignor hereby agrees to transfer the trademark at nil
    consideration. The Assignor shall have the right, at any time,
    to authorize certain amounts of transfer fees after the Assignee
    issues a written notice.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;The Assignor hereby agrees to assist the Assignee for
    transfer registration, and the Assignor shall not have the
    ownership and other rights of the trademark.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;This Agreement shall be executed and become effective as
    of the date first set forth above with retrospective effect to
    the date the Assignee actually owns the trademark.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;The performance, interpretation and enforcement of this
    Agreement shall be governed by the laws of the PRC.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    6.&#160;Each party hold one original of this agreement. All
    originals shall have the same legal effect.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Signature Page
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Assignor : Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 49%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Authorized Representative: /s/ Haoyu Shen
</DIV>

<DIV style="font-size: 2pt; margin-right: 49%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 49%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Name: Haoyu Shen</B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 49%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Occupation: Legal Representative</B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 49%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Seal: [Baidu Online Network Technology (Beijing) Co., Ltd.
    seal]</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Assignee:
    Beijing Baidu Netcom Science Technology Co., Ltd.</FONT></B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="24%"></TD>
    <TD width="27%"></TD>
    <TD width="49%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Authorized Representative:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Zhixiang
    Liang</DIV>
</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-right: 49%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;&#160;&#160;&#160;&#160;Zhixiang Liang
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Occupation:&#160;Legal Representative
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Seal:&#160;&#160;&#160;&#160;&#160;[Beijing Baidu Netcom Science
    Technology Co., Ltd. seal]
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.48
<SEQUENCE>25
<FILENAME>h04360dexv4w48.htm
<DESCRIPTION>EX-4.48
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w48</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.48</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Supplementary
    Agreement to the Software License Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="85%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    3/F, Baidu Campus, No. 10 Shangdi
    10<SUP style="font-size: 85%; vertical-align: top">th</SUP>

    Street, Haidian District, Beijing
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2/F, Baidu Campus, No. 10 Shangdi
    10<SUP style="font-size: 85%; vertical-align: top">th</SUP>

    Street, Haidian District, Beijing
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (Collectively, the &#147;Parties&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS</B>, Party A and Party B have made a certain Software
    License Agreement dated March&#160;22, 2005 (the &#147;Original
    Agreement&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE, </B>the Parties agree through friendly
    negotiation to amend the Original Agreement as follows on
    March&#160;11, 2010:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Article&#160;6.2 of the Original Agreement which reads:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;This Agreement may be extended by both Parties in writing
    upon the expiration of this Agreement. The term of extension
    will be decided by the consultation of both Parties. &#147;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For the reason of the business of Party B and also to encourage
    Party B to extend its business and use the software in a
    long-term period, Party A hereby agrees to extend the term for
    five (5)&#160;years.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall be executed in two originals, with each
    party holding one original. All originals shall have the same
    legal effect and will be effective upon signature and affixture
    of seals by the Parties. This agreement shall take effect as of
    the date first set forth above.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By:&#160;&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 5%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Title:&#160;
</TD>
    <TD align="left">    Legal representative/authorized representative
</TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Seal:&#160;
</TD>
    <TD align="left">    [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By:&#160;&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Zhixiang
    Liang</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 5%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Title:&#160;
</TD>
    <TD align="left">    Legal representative/authorized representative
</TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Seal:&#160;
</TD>
    <TD align="left">    [Beijing Baidu Netcom Science Technology Co., Ltd. seal]
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.48</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Supplementary
    Agreement to the Software License Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="85%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No. 10 Shangdi
    10<SUP style="font-size: 85%; vertical-align: top">th</SUP>

    Street, Haidian District, Beijing
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No. 10 Shangdi
    10<SUP style="font-size: 85%; vertical-align: top">th</SUP>

    Street, Haidian District, Beijing
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (Collectively, the &#147;Parties&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS</B>, Party A and Party B have made a certain Software
    License Agreement dated March&#160;22, 2005 (the &#147;Original
    Agreement&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE, </B>the Parties agree through friendly
    negotiation to amend the Original Agreement as follows on
    April&#160;22, 2010:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;The Parties agree to add the following to
    Appendix&#160;2 Account and payment method of License Fee of the
    Original Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 8%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;Party A is entitled to decide at its sole discretion the
    Fee under this Agreement and its calculation method.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;This Agreement is an integral part of this Agreement. If
    there is any consistency between this Agreement and the Original
    Agreement, this Agreement shall prevail. Any matter that is not
    provided under this Agreement shall be governed by the Original
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;This Agreement shall be executed in two originals, with
    each party holding one original. All originals shall have the
    same legal effect and will be effective upon signature and
    affixture of seals by the Parties.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party&#160;A:&#160;Baidu Online Network Technology (Beijing)
    Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Title:&#160;
</TD>
    <TD align="left">    Legal representative/authorized representative
</TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Seal:&#160;
</TD>
    <TD align="left">    [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Zhixiang
    Liang</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Title:&#160;
</TD>
    <TD align="left">    Legal representative/authorized representative
</TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Seal:&#160;
</TD>
    <TD align="left">    [Beijing Baidu Netcom Science Technology Co., Ltd. seal]
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.49
<SEQUENCE>26
<FILENAME>h04360dexv4w49.htm
<DESCRIPTION>EX-4.49
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w49</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.49</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Supplementary
    Agreement to the Trademark License Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="10%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="84%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Licensor:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    3/F, No. 10 Shangdi
    10<SUP style="font-size: 85%; vertical-align: top">th</SUP>

    Street, Haidian District, Beijing
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Licensee:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2/F, No. 10 Shangdi
    10<SUP style="font-size: 85%; vertical-align: top">th</SUP>

    Street, Haidian District, Beijing
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (Collectively, the &#147;Parties&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS</B>, Licensor and Licensee have made a certain
    Trademark License Agreement dated March&#160;1, 2004 (the
    &#147;Original Agreement&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE, </B>the Parties agree through friendly
    negotiation to amend the Original Agreement as follows on
    March&#160;1, 2010:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Article&#160;10.1 of the Original Agreement which reads:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;This Agreement has been duly executed as of the date first
    set forth above and shall be effective simultaneously. The term
    of this Agreement is five (5)&#160;years unless the early
    termination set forth in this Agreement.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Article&#160;10.2 of the Original Agreement which reads:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;This Agreement has been duly executed as of the date first
    set forth above and shall be effective simultaneously. The term
    of this Agreement is five (5)&#160;years unless the early
    termination set forth in this Agreement.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For the reason of the business of Party B and also to encourage
    Party B to extend its business and use the trademark in a
    long-term period, Party A hereby agrees to extend the term for
    five (5)&#160;years.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall be executed in two originals, with each
    party holding one original. All originals shall have the same
    legal effect and will be effective upon signature and affixture
    of seals by the Parties. This agreement shall take effect as of
    the date first set forth above.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A: Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Title:&#160;
</TD>
    <TD align="left">    Legal representative/authorized representative
</TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Seal:&#160;
</TD>
    <TD align="left">    [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B: Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Zhixiang
    Liang</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Title:&#160;
</TD>
    <TD align="left">    Legal representative/authorized representative
</TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Seal:&#160;
</TD>
    <TD align="left">    [Beijing Baidu Netcom Science Technology Co., Ltd. seal]
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.49</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Supplementary
    Agreement to the Trademark License Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="10%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="84%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    3/F, Baidu Campus, No. 10 Shangdi
    10<SUP style="font-size: 85%; vertical-align: top">th</SUP>

    Street, Haidian District, Beijing
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2/F, Baidu Campus, No. 10 Shangdi
    10<SUP style="font-size: 85%; vertical-align: top">th</SUP>

    Street, Haidian District, Beijing
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (Collectively, the &#147;Parties&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS</B>, Party A and Party B have made a certain
    Trademark License Agreement dated March&#160;1, 2004 (the
    &#147;Original Agreement&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE, </B>the Parties agree through friendly
    negotiation to amend the Original Agreement as follows on
    April&#160;22, 2010:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;The Parties agree to add the following to Article&#160;2
    of Appendix&#160;2 of the Original Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;Party A is entitled to decide at its sole discretion the
    Fee under this Agreement and its calculation method.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;This Agreement is an integral part of this Agreement. If
    there is any consistency between this Agreement and the Original
    Agreement, this Agreement shall prevail. Any matter that is not
    provided under this Agreement shall be governed by the Original
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;This Agreement shall be executed in two originals, with
    each party holding one original. All originals shall have the
    same legal effect and will be effective upon signature and
    affixture of seals by the Parties.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party A:&#160;&#160;&#160;&#160;&#160;Baidu Online Network
    Technology (Beijing) Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Title:&#160;</TD>
    <TD align="left">
    Legal representative/authorized representative
</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Seal:&#160;</TD>
    <TD align="left">
    [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Party B:&#160;&#160;&#160;&#160;&#160;Beijing Baidu Netcom
    Science Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Zhixiang
    Liang</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Title:&#160;
</TD>
    <TD align="left">    Legal representative/authorized representative
</TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Seal:&#160;
</TD>
    <TD align="left">    [Beijing Baidu Netcom Science Technology Co., Ltd. seal]
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.50
<SEQUENCE>27
<FILENAME>h04360dexv4w50.htm
<DESCRIPTION>EX-4.50
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w50</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.50</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Supplementary
    Agreement to the<BR>
    Web Layout Copyright License Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="10%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="6%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="84%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Licensor:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    3/F, Baidu Campus, No. 10 <BR>
    Shangdi
    10<SUP style="font-size: 85%; vertical-align: top">th</SUP>

    Street, Haidian District, Beijing
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Licensee:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2/F, Baidu Campus, No. 10 Shangdi
    10<SUP style="font-size: 85%; vertical-align: top">th</SUP>

    Street, Haidian District, Beijing
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (Collectively, the &#147;Parties&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS, </B>Licensor and Licensee have made a certain Web
    Layout Copyright License Agreement dated March&#160;1, 2004 (the
    &#147;Original Agreement&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The original term of Article&#160;6.1 of the Original Agreement
    which reads:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;This Agreement shall be effective as of the date first set
    forth above. The term of this Agreement is five (5)&#160;years
    unless earlier terminated as set forth in this Agreement.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The original term of Article&#160;6.2 of the Original Agreement
    which reads:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;This Agreement may be extended one year only if the
    Licensor issues the Licensee its written consent of extending
    this Agreement before the expiration of this Agreement
    (including any expiration of extended terms).&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE, </B>the Parties agree through friendly
    negotiation to amend the Original Agreement as follows on
    March&#160;1, 2010:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For the reason of the business of Party B and also to encourage
    Party B to extend its business and use the web layout copyright
    in a long-term period, Party A hereby agrees to extend the term
    for five (5)&#160;years.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall be executed in two originals, with each
    party holding one original. This agreement is an integral part
    of the Original agreement, it shall have the same legal effect
    with the Original Agreement. This agreement will be effective
    upon signature and affixture of seals by the Parties. This
    agreement shall take effect as of the date first set forth above.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Licensor:&#160;Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Title:&#160;
</TD>
    <TD align="left">    Legal representative/authorized representative
</TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Seal:&#160;
</TD>
    <TD align="left">    [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Licensee:&#160;Beijing Baidu Netcom Science Technology Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By:&#160;</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Zhixiang
    Liang</DIV>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-left: 3%; width: 46%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Title:&#160;</TD>
    <TD align="left">
    Legal representative/authorized representative
</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Seal:&#160;</TD>
    <TD align="left">
    [Beijing Baidu Netcom Science Technology Co., Ltd. seal]
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.51
<SEQUENCE>28
<FILENAME>h04360dexv4w51.htm
<DESCRIPTION>EX-4.51
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w51</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.51</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Supplementary
    Agreement to the Operating Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="18%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="80%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No. 10 Shangdi 10th Street, Haidian District, Beijing
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No. 10 Shangdi 10th Street, Haidian District, Beijing
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Yanhong LI</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    ID No.
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    110108196811171874
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party D:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Yong XU</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    ID No.
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    110108196408161836
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (Collectively, the &#147;Parties&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS</B>, Party A, Party B, Party C and Party D have made
    a certain Operating Agreement dated March&#160;22, 2005 (the
    &#147;Original Agreement&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE, </B>the Parties agree through friendly
    negotiation to amend the Original Agreement as follows on
    April&#160;22, 2010:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;The Parties agree to amend Article&#160;5 of the
    Original Agreement as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The original term which reads:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;Party B, together with its shareholder Party C, hereby
    jointly agree and confirm that Party B shall first seek a
    guarantee from Party A if Party B needs any guarantee for its
    performance of any of its contracts or for any borrowing for
    working capital purposes in the course of its operations. In
    such cases, Party A shall have the right, but not the
    obligation, to provide the appropriate guarantee to Party B at
    Party A&#146;s sole discretion. If Party A decides not to
    provide such a guarantee, Party A shall immediately issue a
    written notice to Party B and Party B may seek a guarantee from
    third parties.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Is amended as:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;Party B, together with its shareholder Party C, hereby
    jointly agree and confirm that Party B shall first seek a
    guarantee from Party A if Party B needs any guarantee for its
    performance of any of its contracts or for any borrowing for
    working capital purposes in the course of its operations. In
    such cases, Party A shall have the obligation to provide
    appropriate guarantee to Party B at Party A&#146;s sole
    discretion.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;This Agreement is an integral part of this Agreement. If
    there is any consistency between this Agreement and the Original
    Agreement, this Agreement shall prevail. Any matter that is not
    provided under this Agreement shall be governed by the Original
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;This Agreement is made in four counterparts with each
    Party holding one copy. Each copy has the same legal effect and
    will be effective upon signature and affixture of seals by the
    Parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="21%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="77%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    By:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 25%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Title:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Legal representative/authorized representative
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Seal:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</TD>
</TR>
<TR valign="bottom" style="line-height: 18pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    By:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Zhixiang
    Liang</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 29%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Title:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Legal representative/authorized representative
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Seal:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    [Beijing Baidu Netcom Science Technology Co., Ltd. seal]
</TD>
</TR>
<TR valign="bottom" style="line-height: 18pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Yanhong LI</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    By:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yanhong
    Li</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 23%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
<TR valign="bottom" style="line-height: 18pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party D:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Yong XU</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    By:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yong
    Xu</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 19%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2
</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.52
<SEQUENCE>29
<FILENAME>h04360dexv4w52.htm
<DESCRIPTION>EX-4.52
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w52</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.52</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Supplementary
    Agreement to the Domain Name License Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="18%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="80%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Licensor:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    3/F, No. 10 Shangdi 10th Street, Haidian District, Beijing
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Licensee:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    2/F, No. 10 Shangdi 10th Street, Haidian District, Beijing
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (Collectively, the &#147;Parties&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS, </B>Licensor and Licensee have made a certain Domain
    Name License Agreement dated March&#160;1, 2004 (the
    &#147;Original Agreement&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The original term of Article&#160;10.1 which reads:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;&#160;This Agreement has been duly executed as of the date
    first set forth above and shall be effective simultaneously. The
    term of this Agreement is five (5)&#160;years unless the early
    termination set forth in this Agreement.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The original term of Article&#160;10.2 which reads:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    &#147;&#160;This Agreement may be extended one year
    automatically upon its expiration (including the expiration of
    any extension) unless the Licensor informs of the termination of
    this Agreement with the written notice before the
    expiration.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE, </B>the Parties agree through friendly
    negotiation to amend the Original Agreement as follows on
    March&#160;1, 2010:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Parties agree to amend of the Original Agreement as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For the reason of the business of Party B and also to encourage
    Party B to extend its business and use the domain name in a
    long-term period, Party A hereby agrees to extend the term for
    five (5)&#160;years.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Agreement shall be executed in two originals, with each
    party holding one original. This agreement is an integral part
    of the Original agreement, it shall have the same legal effect
    with the Original Agreement. This agreement will be effective
    upon signature and affixture of seals by the Parties. This
    agreement shall take effect as of the date first set forth above.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="18%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="80%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Licensor:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    By:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 25%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Title:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Legal representative/authorized representative
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Seal:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</TD>
</TR>
<TR valign="bottom" style="line-height: 24pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Licensee:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    By:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Zhixiang
    Liang</DIV><BR>
    <DIV style="font-size: 3pt; margin-left: 0%; width: 29%; border-bottom: 1pt solid #000000"></DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Title:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Legal representative/authorized representative
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Seal:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    [Beijing Baidu Netcom Science Technology Co., Ltd. seal]
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.53
<SEQUENCE>30
<FILENAME>h04360dexv4w53.htm
<DESCRIPTION>EX-4.53
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w53</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;4.53</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Supplemental
    Agreement to the<BR>
    Exclusive Equity Purchase Option Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="87%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No.&#160;10 Shangdi 10th Street, Haidian District, Beijing
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Yanhong Li</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    ID No.
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    110108196811171874
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Yong Xu</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    ID No.
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    110108196408161836
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Address:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    No.&#160;10 Shangdi 10th Street, Haidian District, Beijing
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (Collectively, the &#147;Parties&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS</B>, Party A, Party B, Party C and Party D have made
    a certain Exclusive Equity Purchase Option Agreement dated
    March&#160;22, 2005 (the &#147;Original Agreement&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>NOW, THEREFORE, </B>the Parties agree through friendly
    negotiation to amend the Original Agreement as follows on
    April&#160;22, 2010:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;The Parties agree to add the following term to the
    Covenants Relating to the Transferor provided under
    Section&#160;2.2 of the Original Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.2.10&#160;Any and all earnings distributed from Party D and
    otherwise distributed shall be paid to Party A in full amount.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;The Parties agree to add the following Section&#160;2.3
    to the Original Agreement:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3&#160;Covenants of Party A
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party A hereby covenants:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3.1&#160;to provide funding support unconditionally and
    unlimitedly to Party D within acceptable and reasonable scope if
    Party D needs any loan or other funding support during Party
    D&#146;s business operations;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.3.2&#160;to waive unconditionally its claim for repayment of
    any loan from Party D if Party D fails to do so because Party D
    experiences loss in its business operations, provided that such
    loss may be sufficiently evidenced.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;This Agreement is an integral part of this Agreement. If
    there is any consistency between this Agreement and the Original
    Agreement, this Agreement shall prevail. Any matter that is not
    provided under this Agreement shall be governed by the Original
    Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;This Agreement is made in four counterparts with each
    Party holding one copy. Each copy has the same legal effect and
    will be effective upon signature and affixture of seals by the
    Parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="9%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="87%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party A:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Baidu Online Network Technology (Beijing) Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    By:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -3pt; margin-left: 3pt">
    &#160;<DIV style="display:inline; text-align:left;">/s/&#160;&#160;Haoyu
    Shen</DIV><DIV style="font-size: 1pt; margin-left: 0%; width: 37%;  align: left; border-bottom: 1pt solid #000000"></DIV><DIV style="text-indent:0pt"></DIV>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Title:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Legal representative/authorized representative
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Seal:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    [Baidu Online Network Technology (Beijing) Co., Ltd. seal]
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party B:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Yanhong Li</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    By
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -3pt; margin-left: 3pt">
    &#160;<DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yanhong
    Li</DIV><DIV style="font-size: 2pt; margin-left: 0%; width: 37%;  align: left; border-bottom: 1pt solid #000000"></DIV><DIV style="text-indent:0pt"></DIV>
</DIV>
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party C:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    <B>Yong Xu</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    By
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -3pt; margin-left: 3pt">
    &#160;<DIV style="display:inline; text-align:left;">/s/&#160;&#160;Yong
    Xu</DIV><DIV style="font-size: 2pt; margin-left: 0%; width: 37%;  align: left; border-bottom: 1pt solid #000000"></DIV><DIV style="text-indent:0pt"></DIV>
</DIV>
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Party D:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Beijing Baidu Netcom Science Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    By:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -3pt; margin-left: 3pt">
    &#160;<DIV style="display:inline; text-align:left;">/s/&#160;&#160;Zhixiang
    Liang</DIV><DIV style="font-size: 1pt; margin-left: 0%; width: 22%;  align: left; border-bottom: 1pt solid #000000"></DIV><DIV style="text-indent:0pt"></DIV>
</DIV>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Title:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Legal representative/authorized representative
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Seal:
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    [Beijing Baidu Netcom Science Technology Co., Ltd. seal]
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2
</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.54
<SEQUENCE>31
<FILENAME>h04360dexv4w54.htm
<DESCRIPTION>EX-4.54
<TEXT>
<HTML>
<HEAD>
<TITLE>exv4w54</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Exhibit&#160;4.54</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Baidu
    Promotion Agency Agreement</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Contract
    Number:<U>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</U></FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party A: <B>Baidu Online Network Technology (Beijing) Co.,
    Ltd.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Legal representative:&#160;SHEN Haoyu
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Address: No.&#160;10 Shangdi 10th Street, Haidian District,
    Beijing
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Contact: SHI Youcai
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Telephone: 8610-59928222
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="white-space: nowrap">E-mail:&#160;shiyoucai@baidu.com</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Post code: 100085
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Bank: China Merchants Bank, Beijing Branch, Beisihuan
    <FONT style="white-space: nowrap">Sub-branch</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Account number:&#160;866180196910001
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Party B:&#160;&#160;<B>Beijing Baidu Netcom Science and
    Technology Co., Ltd.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Legal representative:&#160;&#160;LIANG Zhixiang
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Address:&#160;&#160;2/F, Baidu Building, 10 Shangdi
    10th&#160;Street, Haidian District, Beijing
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Contact:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Telephone: 10-59928888
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <FONT style="white-space: nowrap">E-mail:</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Post code: 100085
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Bank: China Merchants Bank, Shangdi
    <FONT style="white-space: nowrap">Sub-branch</FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Account number:&#160;&#160;110902160610706
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (Party A and Party B, collectively, the &#147;Parties&#148;)
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This AGENCY AGREEMENT (this &#147;Agreement&#148;) is made by
    Party A and Party B, each being a company incorporated and
    existing under the laws of the People&#146;s Republic of China.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>WHEREAS</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party B is authorized by Party A to manage Party
    A&#146;s advertising agents in Beijing for the purpose of
    promoting &#147;Baidu Promotion&#148; technical services
    (including existing Baidu Promotion and its derivative services,
    &#147;Baidu Promotion&#148;) for Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party B agrees to conduct the promotion contemplated
    under Section&#160;1 required by Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    NOW, THEREFORE, the Parties agree and intend to be bound as
    follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    I,&#160;<B>Scope and Term</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;The agents will be designated by Party A in writing.
    Party A has the discretion to change the agents from time to
    time, provided that such change will be notified to Party B in
    writing no less than [&#160;&#160;]&#160;days in advance. Party
    B agrees to accept such agents designated by Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;This Agreement has a term of twelve months, commencing
    on January&#160;1, 2010 and ending on December&#160;31, 2010.
</DIV>
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</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>II.&#160;Rights and Obligations of Party A</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A will grant to Party B an &#147;agent management
    account&#148; in connection with Baidu Promotion, which account
    is owned by Party A. Party B may not use this management account
    if Party A withdraws its authorization granted to Party B under
    this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Party A authorizes Party B to conduct marketing
    activities as an agent for Baidu Promotion.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>III.&#160;Rights and Obligations of Party B</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party B will provide user name and password to an
    account of &#147;Baidu Promotion&#148; to its subscriber that
    subscribes to this account through the marketing efforts of
    Party B. Party B will keep in confidence all information in and
    of this account and, if failing to do so, will be held liable
    for Party A and the client.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Without written consent from the end subscriber, Party B
    may not change any information of the end subscriber, including
    without limitation any change of account information, submission
    or change of any key words, and change of bidding price.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;In connection with its activities promoting the products
    relating to &#147;Baidu Promotion&#148;, Party B will describe
    the products to clients according to the promotional materials
    provided by Party A. Without prior written consent from Party A,
    Party B may not use or distribute any other promotion materials.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;Party B will make good maintenance of all of its
    operation records relating to the products of Party A for a
    period no less than three years for inspection by or provision
    to Party A at the request of Party A. Upon expiration or
    termination of this Agreement, Party B will return all such
    operating records to Party A and may not keep any copy or
    duplicate thereof. Party B will grant access to its operating
    area as well as any materials including invoices for inspection
    by any person designated by Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IV.&#160;Performance Indicator</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;During the term of this Agreement, the performance of
    marketing efforts of Party B for each quarter will be
    benchmarked on the performance indicators set forth under the
    Exhibit hereto, which indicators will be provided to Party B
    from Party A in writing within 15 business days upon quarterly
    end.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Baidu Promotion Performance Indicator Percentage:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="21%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="66%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Performance indicator</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Definition of performance indicator</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Percentage</B>
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Click consumption
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    aggregate number of click consumption generated by all end-users
    during any given quarter
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    100%
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>V.&#160;Discount, Review, Reward and Penalty</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A will grant a certain discount to Party B, the
    details of which will be provided separately by Party A in
    writing. Party A may make changes to the discount from time to
    time provided it will notify Party B of such change no less than
    [&#160;&#160;]&#160;days in advance. Party B agrees to accept
    the discount provided by Party A.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;It is agreed by the Parties that Party A may set forth a
    system for performance review, reward and penalty under the
    notice described under the preceding paragraph. Party A may
    terminate this Agreement if Party B fails such review.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>VI.&#160;Extension</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Any Party may request extension of this Agreement in
    writing to the other Party within fifteen (15)&#160;prior to the
    expiration of this Agreement, which extension will be made in
    written agreement upon signatures of the Parties.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>VII.&#160;Confidentiality</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Each of the Parties will keep in confidence all written
    materials, product prices, agency policies and other business
    secrets relating to or under this Agreement, and may not
    disclose any of such material or information to any third party.
    If any Party fails to do so, the other Party may hold the
    failing Party for any loss as well as legal liabilities.
</DIV>
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    <BR>
    2
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<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;This confidentiality clause will survive invalidity,
    termination, expiration or unenforceability of this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Breach of this confidentiality clause by Party B will
    constitute its material breach under this Agreement, under which
    circumstance Party A may terminate the agency of Party B and the
    deposit provided by Party B will not be refundable. If such
    deposit is not sufficient to indemnify Party A for the losses
    incurred by it, Party B will be held liable for the portion of
    such losses exceeding the deposit.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>VIII.&#160;Disclaimer</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Party A will not be held liable if:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1)&#160;the &#147;Baidu Promotion&#148; services fail to be
    successfully registered other than by willful or negligent act
    of Party A;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2)&#160;Party B or any client introduced by Party B suffers any
    loss due to its own willful or negligent act;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3)&#160;Baidu conducts any commissioning, upgrade, improvement,
    or service sampling upon Baidu Promotion, which has any effect
    upon Party B;&#160;or
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4)&#160;Party A fails to perform its obligations under this
    Agreement due to any force majeure event.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;If Party A has to indemnify Party B for any reason, such
    indemnification will be capped at the amount of the outstanding
    funds with Baidu Promotion account of the subscribers introduced
    by Party B during that year (excluding any discount provided by
    Party A to Party B).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IX.&#160;Dispute Resolution</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;Any dispute arising from or in connection with this
    Agreement will be resolved by the Parties through negotiations;
    if such negotiations fail, the Parties agree to submit the
    dispute to the jurisdiction of Beijing Haidian District
    People&#146;s Court, being the court at the place where
    Baidu&#146;s server is located, or its superior court.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>X.&#160;Effectiveness</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;This Agreement is effective upon affixture of corporate
    or contract seals by the Parties. The rights and obligations of
    the Parties as of January&#160;1, 2010 are bound by this
    Agreement. This Agreement is in two copies with each Party
    holding one copy. The Exhibit attached hereto is an integral
    part of and is equally authentic with this Agreement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Any matter not provided under this Agreement will be
    performed with reference to the Baidu Policies for Promoting
    Regional General Agency.
</DIV>
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    <BR>
    3
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<DIV style="text-indent: -10pt; margin-left: 10pt">
    Party A: <B>Baidu Online Network</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Party B: <B>Beijing Baidu Netcom</B>
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Technology (Beijing) Co., Ltd.</B>&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    <B>Science and Technology Co., Ltd.</B>
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Signature/seal:&#160;<DIV style="display:inline; text-align:left;"><U>/s/&#160;&#160;Haoyu
    Shen</U></DIV><U></U>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Signature/seal:&#160;<DIV style="display:inline; text-align:left;"><U>/s/&#160;&#160;Zhixiang
    Liang</U></DIV><U></U>
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Date:&#160;January&#160;1, 2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Date:&#160;January&#160;1, 2010
</TD>
</TR>
</TABLE>

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<TYPE>EX-8.1
<SEQUENCE>32
<FILENAME>h04360dexv8w1.htm
<DESCRIPTION>EX-8.1
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    <B><U><FONT style="font-family: 'Times New Roman', Times">EXHIBIT&#160;8.1</FONT></U></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">List of
    Subsidiaries and Consolidated Affiliated Entities</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Subsidiaries*:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu Online Network Technology (Beijing) Co., Ltd.&#160;&#151;
    Incorporated in the PRC
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu (China) Co., Ltd.&#160;&#151; Incorporated in the PRC
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu.com Times Technology (Beijing) Co., Ltd.&#160;&#151;
    Incorporated in the PRC
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu International Technology (Shenzhen) Co., Ltd.&#160;&#151;
    Incorporated in the PRC
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu Japan Inc.&#160;&#151; Incorporated in Japan
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baido, Inc.&#160;&#151; Incorporated in Japan
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Hyakudo, Inc.&#160;&#151; Incorporated in Japan
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu Holdings Limited&#160;&#151; Incorporated in the British
    Virgin Islands
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu (Hong Kong) Limited&#160;&#151; Incorporated in Hong Kong
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu USA LLC&#160;&#151; Incorporated in the USA
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Consolidated Affiliated Entities</B>:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Beijing Baidu Netcom Science Technology Co., Ltd.&#160;&#151;
    Incorporated in the PRC
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Beijing Perusal Technology Co., Ltd.&#160;&#151; Incorporated in
    the PRC
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Beijing BaiduPay Science and Technology Co., Ltd.&#160;&#151;
    Incorporated in the PRC
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu HR Consulting (Shanghai) Co., Ltd.&#160;&#151;
    Incorporated in the PRC
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD valign="top">
    * </TD>
    <TD></TD>
    <TD valign="bottom">
    In addition, we own 100% ordinary shares in Qiyi.com Inc.,
    representing 61.11% equity interests in Qiyi.com Inc. on an
    as-converted basis. However, we have not consolidated the
    financial results of Qiyi.com Inc. in our financial statements
    under the U.S. GAAP because we are deemed to not having a
    &#147;control&#148; over Qiyi.com Inc. due to certain
    substantive participating rights provided to the convertible
    redeemable preferred shareholder.</TD>
</TR>

</TABLE>
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</DIV><!-- END PAGE WIDTH -->
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>33
<FILENAME>h04360dexv12w1.htm
<DESCRIPTION>EX-12.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv12w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><U><FONT style="font-family: 'Times New Roman', Times">EXHIBIT&#160;12.1</FONT></U></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Certification
    by the Principal Executive Officer<BR>
    Pursuant to Section&#160;302 of the Sarbanes-Oxley Act of
    2002</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    I, Robin Yanhong Li, certify that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;I have reviewed this annual report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    of Baidu, Inc.;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Based on my knowledge, this report does not contain any
    untrue statement of a material fact or omit to state a material
    fact necessary to make the statements made, in light of the
    circumstances under which such statements were made, not
    misleading with respect to the period covered by this report;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Based on my knowledge, the financial statements, and
    other financial information included in this report, fairly
    present in all material respects the financial condition,
    results of operations and cash flows of the company as of, and
    for, the periods presented in this report;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;The company&#146;s other certifying officer and I are
    responsible for establishing and maintaining disclosure controls
    and procedures (as defined in Exchange Act
    <FONT style="white-space: nowrap">Rules&#160;13a-15(e)</FONT>
    and
    <FONT style="white-space: nowrap">15d-15(e))</FONT>
    and internal control over financial reporting (as defined in
    Exchange Act
    <FONT style="white-space: nowrap">Rules&#160;13a-15(f)</FONT>
    and
    <FONT style="white-space: nowrap">15d-15(f))</FONT>
    for the company and have:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Designed such disclosure controls and procedures, or
    caused such disclosure controls and procedures to be designed
    under our supervision, to ensure that material information
    relating to the company, including its consolidated
    subsidiaries, is made known to us by others within those
    entities, particularly during the period in which this report is
    being prepared;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Designed such internal control over financial
    reporting, or caused such internal control over financial
    reporting to be designed under our supervision, to provide
    reasonable assurance regarding the reliability of financial
    reporting and the preparation of financial statements for
    external purposes in accordance with generally accepted
    accounting principles;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Evaluated the effectiveness of the company&#146;s
    disclosure controls and procedures and presented in this report
    our conclusions about the effectiveness of the disclosure
    controls and procedures, as of the end of the period covered by
    this report based on such evaluation;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Disclosed in this report any change in the
    company&#146;s internal control over financial reporting that
    occurred during the period covered by the annual report that has
    materially affected, or is reasonably likely to materially
    affect, the company&#146;s internal control over financial
    reporting;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;The company&#146;s other certifying officer and I have
    disclosed, based on our most recent evaluation of internal
    control over financial reporting, to the company&#146;s auditors
    and the audit committee of the company&#146;s board of directors
    (or persons performing the equivalent functions):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;All significant deficiencies and material weaknesses in
    the design or operation of internal control over financial
    reporting which are reasonably likely to adversely affect the
    company&#146;s ability to record, process, summarize and report
    financial information;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Any fraud, whether or not material, that involves
    management or other employees who have a significant role in the
    company&#146;s internal control over financial reporting.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Date: March&#160;29, 2011
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="48%"></TD>
    <TD width="49%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Robin
    Yanhong Li</DIV>
</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-right: 49%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;&#160;&#160;&#160;&#160;Robin Yanhong Li
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Title:&#160;</TD>
    <TD align="left">
    Chief Executive Officer
</TD>
</TR>

</TABLE>
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</DIV><!-- END PAGE WIDTH -->
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</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>34
<FILENAME>h04360dexv12w2.htm
<DESCRIPTION>EX-12.2
<TEXT>
<HTML>
<HEAD>
<TITLE>exv12w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><U><FONT style="font-family: 'Times New Roman', Times">EXHIBIT&#160;12.2</FONT></U></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Certification
    by the Principal Financial Officer<BR>
    Pursuant to Section&#160;302 of the Sarbanes-Oxley Act of
    2002</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    I, Jennifer Li, certify that:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    1.&#160;I have reviewed this annual report on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    of Baidu, Inc.;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    2.&#160;Based on my knowledge, this report does not contain any
    untrue statement of a material fact or omit to state a material
    fact necessary to make the statements made, in light of the
    circumstances under which such statements were made, not
    misleading with respect to the period covered by this report;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    3.&#160;Based on my knowledge, the financial statements, and
    other financial information included in this report, fairly
    present in all material respects the financial condition,
    results of operations and cash flows of the company as of, and
    for, the periods presented in this report;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    4.&#160;The company&#146;s other certifying officer and I are
    responsible for establishing and maintaining disclosure controls
    and procedures (as defined in Exchange Act
    <FONT style="white-space: nowrap">Rules&#160;13a-15(e)</FONT>
    and
    <FONT style="white-space: nowrap">15d-15(e))</FONT>
    and internal control over financial reporting (as defined in
    Exchange Act
    <FONT style="white-space: nowrap">Rule&#160;13a-15(f)</FONT>
    and
    <FONT style="white-space: nowrap">15d-15(f))</FONT>
    for the company and have:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;Designed such disclosure controls and procedures, or
    caused such disclosure controls and procedures to be designed
    under our supervision, to ensure that material information
    relating to the company, including its consolidated
    subsidiaries, is made known to us by others within those
    entities, particularly during the period in which this report is
    being prepared;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Designed such internal control over financial
    reporting, or caused such internal control over financial
    reporting to be designed under our supervision, to provide
    reasonable assurance regarding the reliability of financial
    reporting and the preparation of financial statements for
    external purposes in accordance with generally accepted
    accounting principles;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (c)&#160;Evaluated the effectiveness of the company&#146;s
    disclosure controls and procedures and presented in this report
    our conclusions about the effectiveness of the disclosure
    controls and procedures, as of the end of the period covered by
    this report based on such evaluation;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (d)&#160;Disclosed in this report any change in the
    company&#146;s internal control over financial reporting that
    occurred during the period covered by the annual report that has
    materially affected, or is reasonably likely to materially
    affect, the company&#146;s internal control over financial
    reporting;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    5.&#160;The company&#146;s other certifying officer and I have
    disclosed, based on our most recent evaluation of internal
    control over financial reporting, to the company&#146;s auditors
    and the audit committee of the company&#146;s board of directors
    (or persons performing the equivalent function):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (a)&#160;All significant deficiencies and material weaknesses in
    the design or operation of internal control over financial
    reporting which are reasonably likely to adversely affect the
    company&#146;s ability to record, process, summarize and report
    financial information;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (b)&#160;Any fraud, whether or not material, that involves
    management or other employees who have a significant role in the
    company&#146;s internal control over financial reporting.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Date: March&#160;29, 2011
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="48%"></TD>
    <TD width="49%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Jennifer
    Li</DIV>
</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-right: 49%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;&#160;&#160;&#160;&#160;Jennifer Li
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Title:&#160;</TD>
    <TD align="left">
    Chief Financial Officer
</TD>
</TR>

</TABLE>
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</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>35
<FILENAME>h04360dexv13w1.htm
<DESCRIPTION>EX-13.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv13w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><U><FONT style="font-family: 'Times New Roman', Times">EXHIBIT&#160;13.1</FONT></U></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Certification
    by the Principal Executive Officer<BR>
    Pursuant to Section&#160;906 of the Sarbanes-Oxley Act of
    2002</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In connection with the Annual Report of Baidu, Inc. (the
    &#147;Company&#148;) on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the year ended December&#160;31, 2010 as filed with the
    Securities and Exchange Commission on the date hereof (the
    &#147;Report&#148;),&#160;I, Robin Yanhong Li, Chief Executive
    Officer of the Company, certify, pursuant to 18&#160;U.S.C.
    Section&#160;1350, as adopted pursuant to Section&#160;906 of
    the Sarbanes-Oxley Act of 2002, that to my knowledge:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (1)&#160;The Report fully complies with the requirements of
    Section&#160;13(a) or 15(d) of the Securities Exchange Act of
    1934;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (2)&#160;The information contained in the Report fairly
    presents, in all material respects, the financial condition and
    results of operations of the Company.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Date: March&#160;29, 2011
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="48%"></TD>
    <TD width="49%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Robin
    Yanhong Li</DIV>
</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-right: 49%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;&#160;&#160;&#160;&#160;Robin Yanhong Li
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Title:&#160;</TD>
    <TD align="left">
    Chief Executive Officer
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.2
<SEQUENCE>36
<FILENAME>h04360dexv13w2.htm
<DESCRIPTION>EX-13.2
<TEXT>
<HTML>
<HEAD>
<TITLE>exv13w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><U><FONT style="font-family: 'Times New Roman', Times">EXHIBIT&#160;13.2</FONT></U></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Certification
    by the Principal Financial Officer<BR>
    Pursuant to Section&#160;906 of the Sarbanes-Oxley Act of
    2002</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In connection with the Annual Report of Baidu, Inc. (the
    &#147;Company&#148;) on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the year ended December&#160;31, 2010 as filed with the
    Securities and Exchange Commission on the date hereof (the
    &#147;Report&#148;),&#160;I, Jennifer Li, Chief Financial
    Officer of the Company, certify, pursuant to 18&#160;U.S.C.
    Section&#160;1350, as adopted pursuant to Section&#160;906 of
    the Sarbanes-Oxley Act of 2002, that to my knowledge:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (1)&#160;The Report fully complies with the requirements of
    Section&#160;13(a) or 15(d) of the Securities Exchange Act of
    1934;&#160;and
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    (2)&#160;The information contained in the Report fairly
    presents, in all material respects, the financial condition and
    results of operations of the Company.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Date: March&#160;29, 2011
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="48%"></TD>
    <TD width="49%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    By:&#160;
</TD>
    <TD align="left">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Jennifer
    Li</DIV>
</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<DIV style="font-size: 2pt; margin-right: 49%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Name:&#160;&#160;&#160;&#160;&#160;Jennifer Li
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>    Title:&#160;</TD>
    <TD align="left">
    Chief Financial Officer
</TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>37
<FILENAME>h04360dexv15w1.htm
<DESCRIPTION>EX-15.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv15w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Exhibit&#160;15.1</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <IMG src="h04360dh0436010.gif" alt="MAPLES LOGO">
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="24%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="5%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="71%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Our ref</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    VZL\302152-05\4309379v1
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Direct tel</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    +852 2971 3095
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>E-mail</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    valerie.law@maplesandcalder.com
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 28pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu, Inc.
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu Campus
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No.&#160;10 Shangdi 10th Street
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Haidian District, Beijing 100085
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The People&#146;s Republic of China
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    29&#160;March 2011
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Dear Sirs
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Baidu, Inc.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We consent to the reference of our firm under the heading
    &#147;Item&#160;10E&#160;&#151; Cayman Islands Taxation&#148;
    and &#147;Item16G. Corporate Governance&#148; on
    <FONT style="white-space: nowrap">Form&#160;20-F</FONT>
    for the year ended December&#160;31, 2010, which will be filed
    with the Securities and Exchange Commission in the month of
    March 2011.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Yours faithfully
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Maples
    and Calder</DIV>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Maples and Calder
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <IMG src="h04360dh0436014.gif" alt="MAPLES AND CALDER NOTES">
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.2
<SEQUENCE>38
<FILENAME>h04360dexv15w2.htm
<DESCRIPTION>EX-15.2
<TEXT>
<HTML>
<HEAD>
<TITLE>exv15w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;15.2</FONT></B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <IMG src="h04360dh0436012.gif" alt="HAN KUN LAW LOGO"><B> </B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Suite
    906, Office Tower C1, Oriental Plaza, 1&#160;East Chang An
    Avenue, Beijing 100738, P. R. China</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times; font-variant: SMALL-CAPS">Tel</FONT><FONT style="font-family: 'Times New Roman', Times">:
    (86&#160;10) 8525-5500;
    <FONT style="font-variant: SMALL-CAPS">Fax</FONT></FONT><FONT style="font-family: 'Times New Roman', Times">:
    (86&#160;10) 8525-5511/5522</FONT></B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    March&#160;29, 2011
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu, Inc.
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Baidu Campus
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    No.&#160;10 Shangdi 10th Street
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Haidian District, Beijing
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    People&#146;s Republic of China 100085
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Dear Sir/Madam:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We hereby consent to the reference of our name under the heading
    &#147;Regulation&#148; in Baidu, Inc.&#146;s Annual Report on
    Form&#160;20-F for the year ended December&#160;31, 2010, which
    will be filed with the Securities and Exchange Commission in the
    month of March&#160;2011. In giving such consent, we do not
    thereby admit that we come within the category of persons whose
    consent is required under Section&#160;7 of the Securities Act
    of 1933, or under the Securities Exchange Act of 1934, in each
    case, as amended, or the regulations promulgated thereunder.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Very truly yours,
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <DIV style="display:inline; text-align:left;">/s/&#160;&#160;Han
    Kun Law Offices</DIV>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Han Kun Law Offices
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.3
<SEQUENCE>39
<FILENAME>h04360dexv15w3.htm
<DESCRIPTION>EX-15.3
<TEXT>
<HTML>
<HEAD>
<TITLE>exv15w3</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Exhibit&#160;15.3</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Consent
    of Independent Registered Public Accounting Firm</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    We consent to the incorporation by reference in the Registration
    Statements
    <FONT style="white-space: nowrap">(Form&#160;S-8</FONT>
    <FONT style="white-space: nowrap">No.&#160;333-129374</FONT>
    and
    <FONT style="white-space: nowrap">Form&#160;S-8</FONT>
    <FONT style="white-space: nowrap">No.&#160;333-158678)</FONT>
    pertaining to Baidu, Inc.&#146;s 2000 Option Plan and
    2008&#160;Share Incentive Plan of our reports dated
    March&#160;29, 2011, with respect to the consolidated financial
    statements of Baidu, Inc., and the effectiveness of internal
    control over financial reporting of Baidu, Inc., included in
    this Annual Report
    <FONT style="white-space: nowrap">(Form&#160;20-F)</FONT>
    for the year ended December&#160;31, 2010.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    /s/ Ernst&#160;&#038; Young Hua Ming
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Beijing, The People&#146;s Republic of China
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    March 29, 2011
</DIV>
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<DOCUMENT>
<TYPE>EX-101.INS
<SEQUENCE>40
<FILENAME>bidu-20101231.xml
<DESCRIPTION>EX-101 INSTANCE DOCUMENT
<TEXT>
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   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
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       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;ORGANIZATION,
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       Baidu, Inc. (&amp;#8220;Baidu&amp;#8221; or the &amp;#8220;Company&amp;#8221;) was
       incorporated under the laws of the Cayman Islands on
       January&amp;#160;18, 2000. The Company was formerly known as
       Baidu.com, Inc. and changed its name to Baidu, Inc. on
       December&amp;#160;16, 2008. The Company is the sole shareholder of
       Baidu Holdings Ltd. (&amp;#8220;Baidu Holdings&amp;#8221;) incorporated in
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       As of December&amp;#160;31, 2010, Baidu Holdings owns the following
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       &lt;td&gt;    &amp;#8226;&amp;#160;
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       Baidu Online Network Technology (Beijing) Co., Ltd. (&amp;#8220;Baidu
       Online&amp;#8221;) incorporated under the laws of the People&amp;#8217;s
       Republic of China (&amp;#8220;PRC&amp;#8221;) on January&amp;#160;18, 2000,
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       &lt;td&gt;    &amp;#8226;&amp;#160;
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       Baidu Japan Inc. (&amp;#8220;Baidu Japan&amp;#8221;) incorporated under
       the laws of Japan on December&amp;#160;13, 2006,
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       &lt;td&gt;    &amp;#8226;&amp;#160;
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       Baidu (Hong Kong) Limited (&amp;#8220;Baidu HK&amp;#8221;) incorporated
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       Baidu International Technology (Shenzhen) Co., Ltd. (&amp;#8220;Baidu
       International&amp;#8221;) incorporated under the laws of the PRC on
       November&amp;#160;23, 2010.
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       Baidu HK owns the following subsidiaries in the PRC:
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   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="4%"&gt;&lt;/td&gt;
       &lt;td width="2%"&gt;&lt;/td&gt;
       &lt;td width="94%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Baidu (China) Co., Ltd. (&amp;#8220;Baidu China&amp;#8221;) incorporated
       under the laws of the PRC on June&amp;#160;6, 2005,
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 6pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Baidu.com Times Technology (Beijing) Co., Ltd. (&amp;#8220;Baidu
       Times&amp;#8221;) incorporated under the laws of the PRC on
       April&amp;#160;19, 2006,&amp;#160;and
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 6pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Baidu Interaction (Shenzhen) Network Technology Co., Ltd.
       (&amp;#8220;Baidu Interaction&amp;#8221;), which obtained its business
       license in March 2009, was incorporated under the laws of the
       PRC. Baidu Interaction is in the process of being dissolved, but
       is not presented as a discontinued operation since the entity
       has not started operating since its inception.
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Baidu Japan has established the following wholly-owned
       subsidiaries in Japan and the USA:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="4%"&gt;&lt;/td&gt;
       &lt;td width="2%"&gt;&lt;/td&gt;
       &lt;td width="94%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Hyakudo Inc. (&amp;#8220;Hyakudo&amp;#8221;) incorporated under the laws
       of Japan on April&amp;#160;14, 2008,
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 6pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Baido, Inc. (&amp;#8220;Baido&amp;#8221;) incorporated under the laws of
       Japan on April&amp;#160;14, 2008,&amp;#160;and
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 6pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Baidu USA LLC incorporated under the laws of the USA on
       November&amp;#160;12, 2010.
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       As of December&amp;#160;31, 2010, the Company also effectively
       controls the following variable interest entities
       (&amp;#8220;VIEs&amp;#8221;):
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="4%"&gt;&lt;/td&gt;
       &lt;td width="2%"&gt;&lt;/td&gt;
       &lt;td width="94%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Beijing Baidu Netcom Science Technology Co., Ltd. (&amp;#8220;Baidu
       Netcom&amp;#8221;) incorporated under the laws of the PRC on
       June&amp;#160;5, 2001,
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 6pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Beijing Perusal Technology Co., Ltd. (&amp;#8220;Beijing
       Perusal&amp;#8221;) incorporated under the laws of the PRC on
       June&amp;#160;6, 2006,
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 6pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Beijing BaiduPay Science and Technology Co., Ltd.
       (&amp;#8220;BaiduPay&amp;#8221;) incorporated under the laws of the PRC on
       February&amp;#160;27, 2008,&amp;#160;and
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 6pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Baidu HR Consulting (Shanghai) Co., Ltd. (&amp;#8220;Baidu HR&amp;#8221;)
       incorporated under the laws of the PRC on December&amp;#160;28, 2010.
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company, its subsidiaries and VIEs are hereinafter
       collectively referred to as the &amp;#8220;Group.&amp;#8221; The Group
       offers Internet search solutions and online marketing solutions,
       operates an
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform with an online payment tool which enables
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       merchants and customers to make payments online, develops and
       markets
   scalable web application software and provides related services,
       as well as provides human resource related services including
       employment agency services. The Group&amp;#8217;s principal
       geographic market is in the PRC and Japan. The Company does not
       conduct any substantive operations of its own but conducts its
       primary business operations through its wholly-owned
       subsidiaries and VIEs in the PRC.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       PRC laws and regulations prohibit or restrict foreign ownership
       of Internet content and advertising businesses. To comply with
       these foreign ownership restrictions, the Group operates its
       websites and primarily provides online advertising services in
       the PRC through VIEs, the PRC legal entities that were
       established by the individuals authorized by the Group. The
       paid-in capital of the VIEs was funded by the Group through
       loans extended to the authorized individuals. The Group has
       entered into certain exclusive agreements with the VIEs through
       Baidu Online, which obligate Baidu Online to absorb a majority
       of the risk of loss from the VIEs&amp;#8217; activities and entitles
       Baidu Online to receive a majority of their residual returns. In
       addition, the Group has entered into certain agreements with the
       authorized individuals through Baidu Online, including loan
       agreements for the paid-in capital of the VIEs, option
       agreements to acquire the equity interests in the VIEs when
       permitted by the PRC laws, and share pledge agreements for the
       equity interests in the VIEs held by the authorized individuals.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Despite the lack of technical majority ownership, there exists a
       parent-subsidiary relationship between the Company and VIEs
       through certain agreements with the authorized individuals
       through Baidu Online, including loan agreements for the paid-in
       capital of the VIEs, option agreements to acquire the equity
       interests in the VIEs when permitted by the PRC laws, and share
       pledge agreements for the equity interests in the VIEs held by
       the authorized individuals. The equity holders of VIEs
       effectively assigned all of their voting rights underlying their
       equity interest in VIEs to Baidu Online. In addition, through
       the other aforementioned agreements, the Company demonstrates
       its ability and intention to continue to exercise the ability to
       absorb substantially all of the profits and all of the expected
       losses of VIEs. The VIEs are subject to operating risks, which
       determine the variability of the Company&amp;#8217;s interest in
       those entities. Based on these contractual arrangements, the
       Company consolidates the VIEs as required by Accounting
       Standards Codification (&amp;#8220;ASC&amp;#8221;) subtopic
       &lt;font style="white-space: nowrap"&gt;810-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;810-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Consolidation: Overall&lt;/i&gt;, because the Company holds all the
       variable interests of VIEs through Baidu Online, which is the
       primary beneficiary of the VIEs.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The carrying amount of the total assets of VIEs was
       RMB1.19&amp;#160;billion (US$180.92&amp;#160;million) as of
       December&amp;#160;31, 2010 and there was no pledge or
       collateralization of their assets. The amount of the net assets
       of VIEs, which are restricted under PRC laws and regulations
       (Note&amp;#160;13), was RMB341.10&amp;#160;million
       (US$51.68&amp;#160;million) as of December&amp;#160;31, 2010.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Basis
       of Accounting&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The consolidated financial statements have been prepared in
       accordance with United States generally accepted accounting
       principles (&amp;#8220;U.S.&amp;#160;GAAP&amp;#8221;).
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Principles
       of Consolidation&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The consolidated financial statements include the financial
       statements of the Company, its subsidiaries and VIEs in which
       the Company holds all the variable interests of VIEs through
       Baidu Online. All inter-company transactions and balances
       between the Company, its subsidiaries and VIEs are eliminated
       upon consolidation. The Company has included the results of
       operations of acquired businesses from the respective dates of
       acquisition.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Use of
       Estimates&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The preparation of financial statements in conformity with
       accounting principles generally accepted in the United States
       requires management to make estimates and assumptions that
       affect the reported amounts of assets and liabilities and
       disclosures of contingent assets and liabilities at the date of
       the financial statements and the reported amounts of revenues
       and expenses during the period. Management evaluates estimates,
       including those
   related to the accounts receivable allowances, fair values of
       options to purchase the Company&amp;#8217;s ordinary shares, fair
       values of certain equity investments, and deferred tax valuation
       allowance, among others. Management bases the estimates on
       historical experience and on various other assumptions that are
       believed to be reasonable, the results of which form the basis
       for making judgments about the carrying values of assets and
       liabilities. Actual results could differ from these estimates.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Comparative
       Information&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Certain items in prior years&amp;#8217; consolidated financial
       statements have been reclassified to conform to the current
       year&amp;#8217;s presentation in accordance with the requirement
       under eXtensible Business Reporting Language (&amp;#8220;XBRL&amp;#8221;)
       to facilitate comparison.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Currency
       Translation for Financial Statements Presentation&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Translations of amounts from RMB into US$ for the convenience of
       the reader have been calculated at the exchange rate of
       RMB6.6000 per US$1.00 on December&amp;#160;30, 2010 as published on
       the website of the Federal Reserve Board. No representation is
       made that the RMB amounts could have been, or could be,
       converted into U.S.&amp;#160;dollars at such rate.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
  <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 2 - us-gaap:SignificantAccountingPoliciesTextBlock--&gt;
   &lt;div align="left" style="margin-left: 0%"&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="3%"&gt;&lt;/td&gt;
       &lt;td width="97%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;2.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;SUMMARY
       OF SIGNIFICANT ACCOUNTING POLICIES&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Foreign
       Currency&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s functional currency is the US$. The
       Company&amp;#8217;s subsidiaries and VIEs determine their functional
       currencies based on the criteria of ASC subtopic
       &lt;font style="white-space: nowrap"&gt;830-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;830-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Foreign Currency Matters: Overall&lt;/i&gt;, and have determined
       their functional currencies to be their respective local
       currency. The Company uses the RMB as its reporting currency.
       The Company uses the average exchange rate for the year and the
       exchange rate at the balance sheet date to translate its
       operating results and financial position, respectively. Any
       translation gains (losses) are recorded in accumulated other
       comprehensive income (loss) as a component of shareholders&amp;#8217;
       equity. Transactions denominated in foreign currencies are
       translated into the functional currency at the exchange rates
       prevailing on the transaction dates. Assets and liabilities
       denominated in foreign currencies are translated into the
       functional currency at the exchange rates prevailing at the
       balance sheet date. Exchange gains and losses are included in
       the consolidated statements of income as a component of other
       income.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Cash
       and Cash Equivalents&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Cash
       and Cash Equivalents&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Cash and cash equivalents are stated at cost, which approximates
       fair value, and primarily consist of cash and investments in
       interest bearing demand deposit accounts, time deposits, highly
       liquid investments and money market funds. All highly liquid
       investments with original maturities of three months or less
       from the date of purchase are classified as cash equivalents.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Restricted
       Cash&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Restricted cash consists of the cash balances deposited by the
       customers of the Company&amp;#8217;s
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In 2008, the Company introduced an
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform and an online payment platform which enables
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       merchants and customers to send and receive payments online.
       Cash balances deposited by the customers of the Company&amp;#8217;s
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform are considered restricted because they cannot be used
       for the operations of the Group or any other purpose not
       designated by customers. When customers fund their accounts in
   the
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform using their bank accounts, the deposited balance is
       included in the Company&amp;#8217;s bank account until customers
       either use the cash to settle their online transactions or
       withdraw the cash.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Investments&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Short-Term
       Investments&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       All highly liquid investments with original maturities of
       greater than three months, but less than 12&amp;#160;months, are
       classified as short-term investments which are stated at their
       approximate fair value. The Company accounts for short-term
       investments in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;320-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;320-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Investments&amp;#160;&amp;#8212; Debt and Equity Securities: Overall.
       &lt;/i&gt;The Company classifies the short-term investments in debt
       and equity securities as
       &lt;font style="white-space: nowrap"&gt;&amp;#8220;held-to-maturity&amp;#8221;,&lt;/font&gt;
       &amp;#8220;trading&amp;#8221; or
       &lt;font style="white-space: nowrap"&gt;&amp;#8220;available-for-sale&amp;#8221;,&lt;/font&gt;
       whose classification determines the respective accounting
       methods stipulated by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;320-10.&lt;/font&gt;
       Dividend and interest income, including amortization of the
       premium and discount arising at acquisition, for all categories
       of investments in securities are included in earnings. Any
       realized gains or losses on the sale of the short-term
       investments are determined on a specific identification method,
       and such gains and losses are reflected in the consolidated
       statements of income.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The securities that the Company has positive intent and ability
       to hold to maturity are classified as
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities and stated at amortized cost. For individual
       securities classified as
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities, the Company evaluates whether a decline in fair
       value below the amortized cost basis is other than temporary in
       accordance with the Company&amp;#8217;s policy and
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;320-10.&lt;/font&gt;
       If the Company concludes that it does not intend or is not
       required to sell an impaired debt security before the recovery
       of its amortized cost basis, the impairment is considered
       temporary and the
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities continue to be recognized at the amortized costs.
       When the Company intends to sell an impaired debt security or it
       is more likely than not that it will be required to sell prior
       to recovery of its amortized cost basis, an
       &lt;font style="white-space: nowrap"&gt;other-than-temporary&lt;/font&gt;
       impairment is deemed to have occurred. In these instances, the
       &lt;font style="white-space: nowrap"&gt;other-than-temporary&lt;/font&gt;
       impairment loss is recognized in the consolidated statements of
       income equal to the entire excess of the debt security&amp;#8217;s
       amortized cost basis over its fair value at the balance sheet
       date of the reporting period for which the assessment is made.
       When the Company does not intend to sell an impaired debt
       security and it is more likely than not that it will not be
       required to sell prior to recovery of its amortized cost basis,
       the Company must determine whether or not it will recover its
       amortized cost basis. If the Company concludes that it will not,
       an
       &lt;font style="white-space: nowrap"&gt;other-than-temporary&lt;/font&gt;
       impairment exists and that portion of the credit loss is
       recognized in the consolidated statements of income, while the
       portion of loss related to all other factors is recognized in
       other comprehensive income.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The securities that are bought and held principally for the
       purpose of selling them in the near term are classified as
       trading securities. Unrealized holding gains and losses for
       trading securities are included in earnings.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Investments not classified as trading or as
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       are classified as
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities.
       &lt;font style="white-space: nowrap"&gt;Available-for-sale&lt;/font&gt;
       investment is reported at fair value, with unrealized gains and
       losses recorded in accumulated other comprehensive income in
       shareholders&amp;#8217; equity. Realized gains or losses are charged
       to earnings during the period in which the gain or loss is
       realized. An impairment loss on the
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       debt securities would be recognized in the consolidated
       statements of income when the decline in value is determined to
       be
       &lt;font style="white-space: nowrap"&gt;other-than-temporary.&lt;/font&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Long-term
       Investments&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s long-term investments consist of cost method
       investments, equity method investments and
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;325-20&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;325-20&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Investments-Other: Cost Method Investments&lt;/i&gt;, for
       investments in an investee over which the Company does not have
       significant influence, the Company carries the investment at
       cost and only adjusts for
       &lt;font style="white-space: nowrap"&gt;other-than-temporary&lt;/font&gt;
       declines in fair value and distributions of earnings. The
   management regularly evaluates the impairment of the cost method
       investments based on performance and financial position of the
       investee as well as other evidence of market value. Such
       evaluation includes, but is not limited to, reviewing the
       investee&amp;#8217;s cash position, recent financing, projected and
       historical financial performance, cash flow forecasts and
       financing needs. An impairment loss is recognized in the
       consolidated statements of income equal to the excess of the
       investment&amp;#8217;s cost over its fair value at the balance sheet
       date of the reporting period for which the assessment is made.
       The fair value would then become the new cost basis of
       investment.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Investments in entities in which the Company can exercise
       significant influence but does not own a majority equity
       interest or control are accounted for using the equity method of
       accounting in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;323-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;323-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Investments-Equity Method and Joint Ventures: Overall&lt;/i&gt;.
       Under the equity method, the Company initially records its
       investment at cost and adjusts the carrying amount of the
       investment to recognize the Company&amp;#8217;s proportionate share
       of each equity investee&amp;#8217;s net income or loss into
       consolidated statements of income after the date of acquisition.
       The difference between the cost of the equity investee and the
       amount of the underlying equity in the net assets of the equity
       investee is recognized as equity method goodwill included in
       equity method investment on the consolidated balance sheets. The
       Company evaluates the equity method investments for impairment
       under
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;323-10.&lt;/font&gt;
       An impairment loss on the equity method investments is
       recognized in the consolidated statements of income when the
       decline in value is determined to be
       &lt;font style="white-space: nowrap"&gt;other-than-temporary.&lt;/font&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s long-term investments in
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities are the investments which are neither classified as
       cost method investments nor equity method investments. In
       accordance with
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;320-10,&lt;/font&gt;
       &lt;i&gt;Investments&amp;#160;&amp;#8212; Debt and Equity Securities: Overall,
       &lt;/i&gt;&lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities are reported at fair value, with unrealized gains and
       losses recorded in accumulated other comprehensive income in
       shareholders&amp;#8217; equity. Realized gains or losses are charged
       to earnings during the period in which the gain or loss is
       realized.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Fair
       Value Measurements of Financial Instruments&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Financial instruments include cash and cash equivalents,
       short-term investments, accounts receivable, accounts payable
       and accrued liabilities, customer advances and deposits,
       deferred revenue, deferred income and loans payable. The
       carrying amounts of these financial instruments except for loans
       payable approximate fair value because of their generally short
       maturities. The carrying amount of loans payable approximates
       its fair value due to the fact that the related interest rates
       are reset each year based on prevailing market interest rates.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Research,
       Development, and Computer Software&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Capitalization
       of Software Developed for Internal Use&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company has capitalized certain internal use software
       development costs in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;350-40&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;350-40&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Intangibles-Goodwill and Other: Internal-Use Software&lt;/i&gt;,
       amounting to RMB19.49&amp;#160;million, RMB12.59&amp;#160;million and
       RMB10.38&amp;#160;million (US$1.57&amp;#160;million) for the years ended
       December&amp;#160;31, 2008, 2009 and 2010, respectively. The Company
       capitalizes certain costs relating to software acquired,
       developed, or modified solely to meet the Company&amp;#8217;s
       internal requirements and for which there are no substantive
       plans to market the software. These costs mainly include payroll
       and payroll-related costs for employees who are directly
       associated with and who devote time to the internal-use software
       projects during the application development stage. Capitalized
       internal-use software costs are included in fixed assets, net.
       The amortization expense for capitalized software costs amounted
       to RMB3.44&amp;#160;million, RMB9.77&amp;#160;million and
       RMB8.86&amp;#160;million (US$1.34&amp;#160;million) for the years ended
       December&amp;#160;31, 2008, 2009 and 2010, respectively. The
       unamortized amount of capitalized internal use software
       development costs was RMB26.16&amp;#160;million and
       RMB15.28&amp;#160;million (US$2.32&amp;#160;million) as of
       December&amp;#160;31, 2009 and 2010, respectively.
   &lt;/div&gt;
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   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Research
       and Development Expenses&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Research and development expenses consist primarily of
       personnel-related costs. The Company has expensed substantially
       all development costs included in the research and development
       of products and new functionality added to the existing products
       as incurred, except for certain internal-use software and
       certain core technologies with alternative future uses.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Fixed
       Assets&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Fixed assets are stated at cost less accumulated depreciation.
       Depreciation or amortization is recorded on a straight-line
       basis over the shorter of the estimated useful lives of the
       assets or the term of the related lease, as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="66%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="32%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=maindata --&gt;
   &lt;/tr&gt;
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   &lt;!-- TableOutputHead --&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 45&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building related facility, machinery and equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 15&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Computer equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
       &amp;#8212; 3 or 5&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Internal use software development costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 3&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
       &amp;#8212; 3 or 5&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vehicles
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Leasehold improvements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -13pt; margin-left: 13pt"&gt;
       &amp;#8212; over the shorter of lease terms or estimated useful lives
       of the assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Fixed assets have no estimated residual value except for the
       office building and its related facility, machinery and
       equipment, which have an estimated residual value of 4% of the
       cost.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Repair and maintenance costs are charged to expense as incurred,
       whereas the cost of renewals and betterments that extend the
       useful life of fixed assets are capitalized as additions to the
       related assets. Retirements, sales and disposals of assets are
       recorded by removing the cost and accumulated depreciation from
       the asset and accumulated depreciation accounts with any
       resulting gain or loss reflected in the consolidated statements
       of income.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       All direct and indirect costs that are related to the
       construction of fixed assets and incurred before the assets are
       ready for their intended use are capitalized as construction in
       progress. Construction in progress is transferred to specific
       fixed assets items and depreciation of these assets commences
       when they are ready for their intended use.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Goodwill
       and Intangible Assets&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Goodwill
       &lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Goodwill represents the excess of the purchase price over the
       fair value of the identifiable net assets acquired in a business
       combination. The Company assesses goodwill for impairment in
       accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;350-20&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;350-20&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Intangibles&amp;#160;&amp;#8212; Goodwill and Other: Goodwill&lt;/i&gt;,
       which requires that goodwill be tested for impairment at the
       reporting unit level at least annually and more frequently upon
       the occurrence of certain events, as defined by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;350-20.&lt;/font&gt;
       Baidu&amp;#8217;s chief operating decision maker only reviews the
       Company&amp;#8217;s discrete financials at its consolidated level and
       there are no segment managers who are held accountable by the
       Company&amp;#8217;s chief operating officer or anyone else, for
       operations, operating results, and planning for levels or
       components below the consolidated level. Accordingly, consistent
       with the management&amp;#8217;s operational perspective, the Company
       determines that it has only one reporting unit. Goodwill was
       tested for impairment in the annual impairment tests on December
       31 in each year using the two-step process required by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;350-20.&lt;/font&gt;
       First, the Company reviewed the carrying amount of the reporting
       unit compared to the &amp;#8220;fair value&amp;#8221; of the reporting
       unit based on quoted market prices of the ordinary shares. If
       the fair value of the reporting unit exceeds the carrying value
       of the reporting unit, goodwill is not impaired and the Company
       is not required to perform further testing. If the carrying
       value of the
   reporting unit exceeds the fair value of the reporting unit,
       then the Company must perform the second step of the impairment
       test in order to determine the implied fair value of the
       reporting unit&amp;#8217;s goodwill. That is, the Company would then
       prepare the discounted cash flow analyses. Such analyses are
       based on cash flow assumptions that are consistent with the
       plans and estimates being used to manage the business. An excess
       carrying value compared to fair value would indicate that
       goodwill may be impaired. Finally, if the Company determined
       that goodwill may be impaired, the implied fair value of the
       goodwill, as defined by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;350-20,&lt;/font&gt;
       would be compared to its carrying amount to determine the
       impairment loss, if any. There has been no impairment of
       goodwill in any of the years presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Intangible
       Assets &lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Intangible assets with finite lives are carried at cost less
       accumulated amortization. The land use right is amortized using
       a straight-line method over the shorter of its estimated
       economic life or the term of related land use right contract.
       All other intangible assets with finite lives are amortized
       using the straight-line method over the estimated economic life.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Intangible assets have weighted average useful lives from the
       date of purchase as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="87%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="11%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=maindata --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5.0&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customer relationships
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 4.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-competition agreements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 3.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Software
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Contract-based assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 2.3&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 9.6&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Land use right
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
       &amp;#8212; 50&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Intangible assets with an indefinite useful life are not
       amortized. There have been no impairment charges on the
       Company&amp;#8217;s intangible assets with finite useful lives in any
       of the years presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       If the intangible assets that are not being amortized are
       subsequently determined to have a finite useful life, the assets
       will be tested for impairment in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;350-30&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;350-30&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Intangibles-Goodwill and Other: General Intangibles Other
       than Goodwill&lt;/i&gt;, and then amortized prospectively over their
       estimated remaining useful lives and accounted for in the same
       manner as other intangible assets that are subject to
       amortization. Intangible assets with indefinite useful lives are
       tested for impairment annually or more frequently if events or
       changes in circumstances indicate that they might be impaired.
       There have been no impairment charges on the Company&amp;#8217;s
       intangible assets with indefinite useful lives in any of the
       years presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Impairment
       of Long-Lived Assets Other Than Goodwill&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company evaluates long-lived assets, such as fixed assets
       and purchased or internally developed intangible assets with
       finite lives, for impairment whenever events or changes in
       circumstances indicate the carrying value of an asset may not be
       recoverable in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;360-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;360-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Property, Plant and Equipment: Overall&lt;/i&gt;. When such events
       occur, the Company assesses the recoverability of the assets
       group based on the undiscounted future cash flow the assets
       group is expected to generate and recognizes an impairment loss
       when estimated undiscounted future cash flow expected to result
       from the use of the assets group plus net proceeds expected from
       disposition of the assets group, if any, is less than the
       carrying value of the assets group. If the Company identifies an
       impairment, the Company reduces the carrying amount of the
       assets group to its estimated fair value based on a discounted
       cash flow approach or, when available and appropriate, to
       comparable market values. The Company uses estimates and
       judgments in its impairment tests and if different estimates or
       judgments had been utilized, the timing or the amount of any
       impairment charges could be different. Asset groups to be
       disposed of would be reported at the lower of the carrying
       amount or fair value less costs to sell, and no longer
   depreciated. The assets and liabilities of a disposal group
       classified as held for sale would be presented separately in the
       appropriate asset and liability sections of the balance sheet.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Accounts
       Receivable&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Accounts receivable are recognized and carried at original
       invoiced amount less an allowance for any potential
       uncollectible amounts. An estimate for doubtful debts is made
       when collection of the full amount is no longer probable. Bad
       debts are written off as incurred. The Company generally does
       not require collateral from its customers.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company maintains allowances for doubtful accounts for
       estimated losses resulting from the failure of customers to make
       payments on time. The Company reviews the accounts receivable on
       a periodic basis and makes general and specific allowances when
       there is doubt as to the collectibility of individual balances.
       In evaluating the collectibility of individual receivable
       balances, the Company considers many factors, including the age
       of the balance, the customer&amp;#8217;s historical payment history,
       its current credit-worthiness and current economic trends.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Revenue
       Recognition&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company recognizes revenue based on the following principles:
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Online
       marketing services&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (1)&amp;#160;Auction-based
       &lt;font style="white-space: nowrap"&gt;pay-for-performance&lt;/font&gt;
       service
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s auction-based
       &lt;font style="white-space: nowrap"&gt;pay-for-performance&lt;/font&gt;
       (&amp;#8220;P4P&amp;#8221;) platform enables a customer to place its
       website link and related description on the Company&amp;#8217;s
       search result list. The customers make bids on keywords based on
       how much they are willing to pay for each click to their
       listings in the search results listed on the Company&amp;#8217;s
       website and the relevance between the keywords and the
       customer&amp;#8217;s businesses. Internet users&amp;#8217; search of the
       keyword will trigger the display of the listings. The ranking of
       the customer&amp;#8217;s listing depends on both the bidding price
       and the listing&amp;#8217;s relevance to the keyword searched.
       Customer pays the Company only when a user clicks on one of its
       website links. Revenue is recognized when a user clicks on one
       of the customer-sponsored website links, as there is persuasive
       evidence of an arrangement, the fee is fixed or determinable and
       collection is reasonably assured, as prescribed by ASC subtopic
       &lt;font style="white-space: nowrap"&gt;605-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue Recognition: Overall&lt;/i&gt;.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For certain P4P customers engaged through direct sales, the
       Company may provide certain value-added consultative support
       services to help its customers to better utilize its P4P online
       marketing system. Fees for such services are recognized as
       revenue on a pro-rata basis over the contracted service period.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (2)&amp;#160;Other performance-based online marketing services
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       To the extent the Company provides online marketing services
       based on performance criteria other than click-throughs, such as
       the number of telephone calls brought to its customers, the
       number of users registered with its customers, or the number of
       minimum click-throughs, revenue is recognized when the specified
       performance criteria are met together with satisfaction of other
       applicable revenue recognition criteria as prescribed by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;605-10.&lt;/font&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (3)&amp;#160;Time-based online advertising services
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For time-based online advertising services such as text links,
       banners, or other forms of graphical advertisements, the Company
       recognizes revenue, in accordance with
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;605-10,&lt;/font&gt;
       on a pro-rata basis over the contractual term commencing on the
       date the customer&amp;#8217;s advertisement is displayed in a
       specified webpage. For certain time-based contractual
       agreements, the Company may also provide certain performance
       guarantees, in which cases revenue is recognized at the later of
       the completion of the time commitment or performance guarantee.
   &lt;/div&gt;
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   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (4)&amp;#160;Online marketing services involving Baidu Union
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Baidu Union is the program through which the Company expands
       distribution of its customers&amp;#8217; sponsored links or
       advertisements by leveraging traffic of the Baidu Union
       members&amp;#8217; internet properties. The Company makes payments to
       Baidu Union members for acquisition of traffic. The Company
       recognizes gross revenue for the amount of fees it receives from
       its customers. Payments made to Baidu Union members are included
       in cost of revenues as traffic acquisition costs.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (5)&amp;#160;Barter transactions
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company engages in barter transactions from time to time and
       in such situations follows the guidance set forth in ASC
       subtopic
       &lt;font style="white-space: nowrap"&gt;845-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;845-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Nonmonetary Transactions: Overall&lt;/i&gt;. While nonmonetary
       transactions are generally recorded at fair value, if such value
       is not determinable within reasonable limits, the transaction is
       recognized based on the carrying value of the product or
       services provided. The amount of revenues recognized for barter
       transactions was insignificant for each of the periods presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In addition, the Company recognized revenues for barter
       transactions involving advertising in accordance with ASC
       subtopic
       &lt;font style="white-space: nowrap"&gt;605-20&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-20&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue recognition: Services&lt;/i&gt;. However, neither the
       amount recognized nor the volume of such transactions qualified
       for income recognition was material for any of the periods
       presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In certain instances, the Company may be granted equity
       instruments in exchange for services. In accordance with ASC
       subtopic
       &lt;font style="white-space: nowrap"&gt;505-50&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;505-50&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Equity: Equity-based Payments to Non-Employees&lt;/i&gt;, if the
       Company provides services in exchange for equity instruments,
       the Company measures the fair value of those equity instruments
       for revenue recognition purposes as of the earlier of either of
       the following dates:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="4%"&gt;&lt;/td&gt;
       &lt;td width="2%"&gt;&lt;/td&gt;
       &lt;td width="94%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       The date the parties come to a mutual understanding of the terms
       of the equity-based compensation arrangement and a commitment
       for performance by the Company to earn the equity instruments is
       reached;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 6pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       The date at which the Company&amp;#8217;s performance necessary to
       earn the equity instruments is completed.
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       If, as of the measurement date, the fair value of the equity
       instruments received is not determinable within reasonable
       limits, the transaction is recognized based on the fair value of
       the services provided. If the fair value of both the equity
       instruments received and the services provided cannot be
       determined, no revenue is recognized for the services provided
       and the equity instrument received is recorded at zero carrying
       value. The amount of revenues recognized for such transactions
       was insignificant in each of the years presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (6)&amp;#160;Other revenue recognition related policies
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       If a sales arrangement involves multiple deliverables, and the
       arrangement is divided into separate units of accounting in
       accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;605-25&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-25&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue recognition: Multiple-Element Arrangements&lt;/i&gt;, the
       total revenue on such arrangement is allocated to the individual
       deliverables based on their relative fair values. If sufficient
       vendor-specific objective evidence of fair value does not exist
       for the allocation of revenue, the fee for the entire
       arrangement is recognized ratably over the term of the
       arrangement or upon the delivery of the last deliverable, when
       other revenue recognition criteria have been met.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company delivers some of its online marketing services to
       end customers through engaging third party distributors. In this
       context, the Company may provide cash incentives to
       distributors. The cash incentives are accounted for as reduction
       of revenue in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;605-50&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-50&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue recognition: Customer Payments and Incentives&lt;/i&gt;.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company provides sales incentives to customers to entitle
       customers to receive reductions in the price of the online
       marketing services by meeting certain cumulative consumption
       requirements. The Company accounts for these award credits
       granted to members in conjunction with a current sale of
       products or services as a multiple-element arrangement by
       analogizing to ASC
       &lt;font style="white-space: nowrap"&gt;605-25.&lt;/font&gt; The
       consideration allocated to the award credits, as deferred
       revenue is based on an assumption that the customer will
       purchase the minimum amount of future service necessary
   to obtain the maximum award credits available. The deferred
       revenue is recognized as revenue proportionately as the future
       services are delivered to the customer or when the loyalty
       points expire.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Cash received in advance from customers is recorded as customer
       advances and deposits. The unused cash balances remaining in
       customers&amp;#8217; accounts are included as a liability of the
       Company. Deferred revenue is recorded when services are provided
       before the other revenue recognition criteria set forth in
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;605-10&lt;/font&gt;
       are fulfilled.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company operates an online game platform, on which
       registered users could access games provided by online game
       developers. The rights and obligations of each party to the
       arrangement indicate that the Company is acting as an agent
       whereas the online game developer is the principal as a result
       of being the primary obligor in the arrangement. The Company
       recognizes the shared revenue, on a net basis, based on the
       ratios pre-determined with the online game developers when all
       the revenue recognition criteria set forth in
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;605-10&lt;/font&gt;
       are met, which is generally when the user purchases virtual
       currencies issued by the game developers through the
       Company&amp;#8217;s payment channel. The amount of revenues
       recognized was not significant in each of the years presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Cost
       of Revenues&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Cost of revenues consists primarily of business taxes and
       surcharges, traffic acquisition costs, bandwidth costs,
       depreciation, payroll and related costs of operations.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company incurs business taxes and surcharges in connection
       with the provision of online marketing services, technical and
       consultative service fees charged by Baidu Online to VIEs and
       other taxable services in the PRC. According to ASC subtopic
       &lt;font style="white-space: nowrap"&gt;605-45&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-45&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue Recognition: Principal Agent Considerations&lt;/i&gt;, the
       Company includes the business tax and surcharges incurred on its
       online marketing revenues in cost of revenues. The business tax
       and surcharges in cost of revenues for the years ended
       December&amp;#160;31, 2008, 2009 and 2010 were
       RMB200.09&amp;#160;million, RMB275.92&amp;#160;million and
       RMB504.85&amp;#160;million (US$76.49&amp;#160;million), respectively.
       Traffic acquisition costs represent the amounts paid or payable
       to Baidu Union members who direct search queries to the
       Company&amp;#8217;s websites or distribute the Company&amp;#8217;s
       customers&amp;#8217; paid links through their properties. These
       payments are primarily based on revenue sharing arrangements
       under which the Company pays its Baidu Union members a
       percentage of the fees it earns from its online marketing
       customers.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Advertising
       Expenses&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Advertising expenses, primarily advertisements through various
       forms of media, are included in &amp;#8220;Selling, general and
       administrative expense&amp;#8221; in the consolidated statements of
       income and are expensed when incurred. Advertising expenses for
       the years ended December&amp;#160;31, 2008, 2009 and 2010 were
       RMB29.22&amp;#160;million, RMB77.80&amp;#160;million and
       RMB74.76&amp;#160;million (US$11.33&amp;#160;million), respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Other
       Income, net&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Other income, net consists primarily of interest income,
       government subsidies, impairment of long-term investments and
       non-operating expenses. Interest income is mainly generated from
       bank deposits and other interest-earning financial assets and is
       recognized on an accrual basis. Other income, net primarily
       consists of financial subsidies received from provincial and
       local governments for operating a business in their
       jurisdictions and compliance with specific policies promoted by
       the local governments. During the years ended December&amp;#160;31,
       2008, 2009 and 2010, the Group received financial subsidies of
       RMB22.72&amp;#160;million, RMB42.50&amp;#160;million and
       RMB49.14&amp;#160;million (US$7.45&amp;#160;million), respectively, from
       various local PRC government authorities. There are no defined
       rules and regulations to govern the criteria necessary for
       companies to receive such benefits, and the amount of financial
       subsidy is determined at the discretion of the relevant
       government authorities. Such amounts are recorded as other
       income when received and there are no further conditions to be
       met before recognition.
   &lt;/div&gt;
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   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Leases&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Leases have been classified as either capital or operating
       leases. Leases that transfer substantially all the benefits and
       risks incidental to the ownership of assets are accounted for as
       if there was an acquisition of an asset and incurrence of an
       obligation at the inception of the lease. All other leases are
       accounted for as operating leases wherein rental payments are
       expensed as incurred. The Company had no capital leases for the
       years ended December&amp;#160;31, 2008, 2009 and 2010.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Income
       Taxes&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company recognizes income taxes under the liability method.
       Deferred income taxes are recognized for differences between the
       financial reporting and tax bases of assets and liabilities at
       enacted tax rates in effect for the years in which the
       differences are expected to reverse. The Company records a
       valuation allowance against the amount of deferred tax assets
       that it determines is not more likely than not being realized.
       The effect on deferred taxes of a change in tax rates is
       recognized in income in the period that includes the enactment
       date.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company adopted the provisions of ASC subtopic
       &lt;font style="white-space: nowrap"&gt;740-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;740-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Income Taxes: Overall&lt;/i&gt;, on January&amp;#160;1, 2007.
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;740-10&lt;/font&gt;
       clarified the accounting for uncertainty in income taxes by
       prescribing the recognition threshold a tax position is required
       to meet before being recognized in the financial statements. The
       Company has elected to classify interest and penalties related
       to an uncertain tax position (if and when required) as part of
       income tax expense in the consolidated statements of income. As
       of and for the years ended December&amp;#160;31, 2008, 2009 and
       2010, no unrecognized tax benefits or interest and penalties
       associated with uncertainty in income taxes have been recognized.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Share-based
       Compensation&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company adopted ASC subtopic
       &lt;font style="white-space: nowrap"&gt;718-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;718-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Compensation-Stock Compensation: Overall&lt;/i&gt;, using the
       modified prospective transition approach from January&amp;#160;1,
       2006. Pursuant to ASC
       &lt;font style="white-space: nowrap"&gt;718-10,&lt;/font&gt; the
       Company recognized share-based compensation expense over the
       requisite service periods for any share-based awards granted
       after January&amp;#160;1, 2006 based on the fair values of all
       share-based awards on the dates of grant.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company has elected to recognize share-based compensation
       after the date of adoption of
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;718-10&lt;/font&gt;
       using the straight-line method for all share-based awards
       issued. Forfeitures have been estimated based on historical
       experience and periodically reviewed. Cancellation of an award
       accompanied by the concurrent grant of a replacement award is
       accounted for as a modification of the terms of the cancelled
       award (&amp;#8220;modification awards&amp;#8221;). The compensation costs
       associated with the modification awards are recognized if either
       the original vesting condition or the new vesting condition has
       been achieved. Such compensation costs cannot be less than the
       grant-date fair value of the original award. The incremental
       compensation cost is measured as the excess of the fair value of
       the replacement award over the fair value of the cancelled award
       at the cancellation date. Therefore, in relation to the
       modification awards, the Company recognizes share-based
       compensation over the vesting periods of the new options, which
       comprises, (1)&amp;#160;the amortization of the incremental portion
       of share-based compensation over the remaining vesting term and
       (2)&amp;#160;any unrecognized compensation cost of original award,
       using either the original term or the new term, whichever is
       higher for each reporting period.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company accounts for share awards issued to non-employees in
       accordance with the provisions of ASC subtopic
       &lt;font style="white-space: nowrap"&gt;505-50&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;505-50&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Equity: Equity-based Payments to Non-Employees&lt;/i&gt;. Under ASC
       &lt;font style="white-space: nowrap"&gt;505-50,&lt;/font&gt; the
       Company uses the Black-Scholes option pricing model method to
       measure the value of options granted to non-employees at each
       vesting date to determine the appropriate charge to share-based
       compensation.
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;718-10&lt;/font&gt;
       also requires share-based compensation to be presented in the
       same manner as cash compensation rather than as a separate line
       item.
   &lt;/div&gt;
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   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Earnings
       Per Share (&amp;#8220;EPS&amp;#8221;)&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company computes earnings per Class&amp;#160;A and Class&amp;#160;B
       ordinary shares in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;260-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;260-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Earnings Per Share: Overall&lt;/i&gt;, using the two class method.
       Under the provisions of
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;260-10,&lt;/font&gt;
       basic net income per share is computed using the weighted
       average number of ordinary shares outstanding during the period
       except that it does not include unvested ordinary shares subject
       to repurchase or cancellation. Diluted net income per share is
       computed using the weighted average number of ordinary shares
       and, if dilutive, potential ordinary shares outstanding during
       the period. Potentially dilutive securities have been excluded
       from the computation of diluted net income per share if their
       inclusion is anti-dilutive. Potential ordinary shares consist of
       the incremental ordinary shares issuable upon the exercise of
       stock options, restricted shares subject to forfeiture, and
       contracts that may be settled in the Company&amp;#8217;s stock or
       cash. The dilutive effect of outstanding stock options and
       restricted shares is reflected in diluted earnings per share by
       application of the treasury stock method. The computation of the
       diluted net income per share of Class&amp;#160;A ordinary shares
       assumes the conversion of Class&amp;#160;B ordinary shares, while
       the diluted net income per share of Class&amp;#160;B ordinary shares
       does not assume the conversion of those shares.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The liquidation and dividend rights of the holders of the
       Company&amp;#8217;s Class&amp;#160;A and Class&amp;#160;B ordinary shares are
       identical, except with respect to voting. As a result, and in
       accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;260-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;260-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Earnings Per Share: Overall&lt;/i&gt;, the undistributed earnings
       for each year are allocated based on the contractual
       participation rights of the Class A and Class&amp;#160;B ordinary
       shares as if the earnings for the year had been distributed. As
       the liquidation and dividend rights are identical, the
       undistributed earnings are allocated on a proportionate basis.
       Further, as the conversion of Class&amp;#160;B ordinary shares is
       assumed in the computation of the diluted net income per share
       of Class&amp;#160;A ordinary shares, the undistributed earnings are
       equal to net income for that computation.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For the purposes of calculating the Company&amp;#8217;s basic and
       diluted earnings per Class&amp;#160;A and Class B ordinary shares,
       the ordinary shares relating to the options that were exercised
       are assumed to have been outstanding from the date of exercise
       of such options.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Concentration
       of Risks&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Concentration
       of credit risk&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Financial instruments that potentially subject the Company to
       significant concentration of credit risk primarily consist of
       cash and cash equivalents, restricted cash, short-term
       investments and accounts receivable. The Company has
       RMB8.20&amp;#160;billion (US$1.24&amp;#160;billion) in cash and cash
       equivalents, restricted cash and short-term investments. The
       Company has approximately RMB8.06&amp;#160;billion
       (US$1.22&amp;#160;billion) in cash, bank deposits and money market
       funds in the PRC, which constitute about 98.29% of total cash
       and cash equivalents and short-term investments. In the event of
       bankruptcy of one of the financial institutions in which the
       Company has deposits or investments, it may be unlikely to claim
       its deposits or investments back in full.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Accounts receivable are typically unsecured and derived from
       revenue earned from customers and agents in China, which are
       exposed to credit risk. The risk is mitigated by credit
       evaluations the Company performs on its customers and its
       ongoing monitoring process of outstanding balances. The Company
       maintains reserves for estimated credit losses and these losses
       have generally been within its expectations.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Business
       and economic risks&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company participates in a dynamic high technology industry
       and believes that changes in any of the following areas could
       have a material adverse effect on the Company&amp;#8217;s future
       financial position, results of operations or cash flows: changes
       in the overall demand for services and products; changes in
       business offerings; competitive pressures due to new entrants;
       advances and new trends in new technologies and industry
       standards; changes in bandwidth suppliers; changes in certain
       strategic relationships or customer relationships; regulatory
   considerations; copyright regulations; and risks associated with
       the Company&amp;#8217;s ability to attract and retain employees
       necessary to support its growth.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       No customer or any Baidu Union member generated greater than 10%
       of total revenues in any of the periods presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s operations could be adversely affected by
       significant political, economic and social uncertainties in the
       PRC.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Currency
       convertibility risk&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Substantially all of the Company&amp;#8217;s businesses are
       transacted in RMB, which is not freely convertible into foreign
       currencies. All foreign exchange transactions take place either
       through the People&amp;#8217;s Bank of China or other banks
       authorized to buy and sell foreign currencies at the exchange
       rates quoted by the People&amp;#8217;s Bank of China. Approval of
       foreign currency payments by the People&amp;#8217;s Bank of China or
       other regulatory institutions requires submitting a payment
       application form together with suppliers&amp;#8217; invoices,
       shipping documents and signed contracts.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Foreign
       currency exchange rate risk &lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s exposure to foreign currency exchange rate
       risk primarily relates to cash and cash equivalents and
       short-term investments denominated in the U.S.&amp;#160;dollar. The
       functional currency of the Company is US$, and the reporting
       currency is RMB. Since July&amp;#160;21, 2005, the RMB has been
       permitted to fluctuate within a narrow and managed band against
       a basket of certain foreign currencies. On June&amp;#160;19, 2010,
       the People&amp;#8217;s Bank of China announced the end of the
       RMB&amp;#8217;s de facto peg to US$, a policy which was instituted in
       late 2008 in the face of the global financial crisis, to further
       reform the RMB exchange rate regime and to enhance the
       RMB&amp;#8217;s exchange rate flexibility. The exchange rate floating
       bands will remain the same as previously announced in the
       inter-bank foreign exchange market. The depreciation of the US$
       against RMB was approximately 3.31% in 2010. Any significant
       revaluation of RMB may materially and adversely affect the
       Company&amp;#8217;s cash flows, revenues, earnings and financial
       position, and the value of, and any dividends payable on, the
       ADS in U.S.&amp;#160;dollars. As a result, an appreciation of RMB
       against the U.S.&amp;#160;dollar would result in foreign currency
       translation losses when translating the net assets of the
       Company from the U.S.&amp;#160;dollar into RMB.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The functional currency of the subsidiaries in Japan is Japanese
       Yen (&amp;#8220;JPY&amp;#8221;), and the reporting currency is RMB. During
       2010, JPY appreciated by approximately 10.23% against RMB. The
       appreciation of JPY against RMB results in foreign currency
       translation gains when translating the net assets into RMB.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For the years ended December&amp;#160;31, 2008, 2009 and 2010, the
       net foreign currency translation loss resulting from the
       translation from the respective functional currencies to the RMB
       reporting currency recorded in the Company&amp;#8217;s other
       comprehensive loss was RMB27.60&amp;#160;million,
       RMB3.96&amp;#160;million and RMB3.87&amp;#160;million
       (US$0.59&amp;#160;million), respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Recent
       Accounting Pronouncements&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In October 2009, the FASB issued ASU
       &lt;font style="white-space: nowrap"&gt;No.&amp;#160;2009-13&lt;/font&gt;
       (&amp;#8220;ASU
       &lt;font style="white-space: nowrap"&gt;2009-13&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Multiple-Deliverable Revenue Arrangements&lt;/i&gt;. ASU
       &lt;font style="white-space: nowrap"&gt;2009-13&lt;/font&gt;
       amends ASC
       &lt;font style="white-space: nowrap"&gt;sub-topic&lt;/font&gt;
       &lt;font style="white-space: nowrap"&gt;605-25&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-25&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue Recognition: Multiple-Element Arrangements&lt;/i&gt;,
       regarding revenue arrangements with multiple deliverables. This
       standard addresses how to determine whether an arrangement
       involving multiple deliverables contains more than one unit of
       accounting, and how the arrangement consideration should be
       allocated among the separate units of accounting. This standard
       establishes a selling price hierarchy for determining the
       selling price of a deliverable, which is based on:
       (a)&amp;#160;vendor-specific objective evidence;
       (b)&amp;#160;third-party evidence; or (c)&amp;#160;estimated selling
       price. This standard also eliminates the residual method of
       allocation and requires that arrangement consideration be
       allocated at the inception of the arrangement to all
       deliverables using the relative selling price method. In
       addition, this standard significantly expands required
       disclosures related to a vendor&amp;#8217;s multiple-deliverable
       revenue arrangements. This standard is
   effective for fiscal years beginning after June&amp;#160;15, 2010
       and to be applied retrospectively or prospectively for new or
       materially modified arrangements. In addition, early adoption is
       permitted. The Company will adopt ASU
       &lt;font style="white-space: nowrap"&gt;2009-13&lt;/font&gt;
       beginning January&amp;#160;1, 2011 and the Company is in the process
       of assessing the impact of the adoption of the standard on its
       consolidated financial statements.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In April 2010, the FASB issued ASU
       &lt;font style="white-space: nowrap"&gt;No.&amp;#160;2010-13&lt;/font&gt;
       (&amp;#8220;ASU
       &lt;font style="white-space: nowrap"&gt;2010-13&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Compensation-Stock Compensation (&amp;#8220;&lt;/i&gt;ASC 718&amp;#8221;):
       &lt;i&gt;Effect of Denominating the Exercise Price of a Share-Based
       Payment Award in the Currency of the Market in Which the
       Underlying Equity Security Trades&lt;/i&gt;. The objective of this
       standard is to address the classification of an employee
       share-based payment award with an exercise price dominated in
       the currency of a market in which the underlying equity security
       trades. ASC&amp;#160;718 provides guidance on the classification of
       a share-based payment award as either equity or liability. A
       share-based payment award that contains a condition that is not
       a market, performance, or service condition is required to be
       classified as a liability. ASU
       &lt;font style="white-space: nowrap"&gt;2010-13&lt;/font&gt;
       provide amendments to ASC&amp;#160;718 to clarify that an employee
       share-based payment award with an exercise price denominated in
       the currency of a market in which a substantial portion of the
       entity&amp;#8217;s equity securities trades should not be considered
       to contain a condition that is not a market, performance, or
       service condition. Therefore, an entity would not classify such
       an award as a liability if it otherwise qualifies as equity.
       Then amendments in this standard are effective for fiscal years,
       and interim periods within those fiscal years, beginning on or
       after December&amp;#160;31, 2010. Early application is permitted.
       The Company does not expect the adoption of ASU
       &lt;font style="white-space: nowrap"&gt;2010-13&lt;/font&gt; will
       have a material impact on its consolidated financial statements.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In December 2010, the FASB issued ASU
       &lt;font style="white-space: nowrap"&gt;No.&amp;#160;2010-28&lt;/font&gt;
       (&amp;#8220;ASU
       &lt;font style="white-space: nowrap"&gt;2010-28&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Intangibles&amp;#160;&amp;#8212; Goodwill and Other &lt;/i&gt;(&amp;#8220;ASC
       350&amp;#8221;): &lt;i&gt;When to Perform Step 2 of the Goodwill Impairment
       Test for Reporting Units with Zero or Negative Carrying
       Amounts&lt;/i&gt;. The objective of this standard is to address
       questions about entities with reporting units with zero or
       negative carrying amounts because some entities concluded that
       Step 1 of the test is passed in those circumstances because the
       fair value of their reporting unit will generally be greater
       than zero. The amendments in this standard modify Step 1 of the
       goodwill impairment test for reporting units with zero or
       negative carrying amounts. For those reporting units, an entity
       is required to perform Step 2 of the goodwill impairment test if
       it is more likely than not that a goodwill impairment exists.
       This standard is effective for fiscal years, and interim periods
       within those years, beginning after December&amp;#160;15, 2010.
       Early adoption is not permitted. The Company does not expect the
       adoption of ASU
       &lt;font style="white-space: nowrap"&gt;2010-28&lt;/font&gt; will
       have a material impact on its consolidated financial statements.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In December 2010, the FASB issued ASU
       &lt;font style="white-space: nowrap"&gt;No.&amp;#160;2010-29&lt;/font&gt;
       (&amp;#8220;ASU
       &lt;font style="white-space: nowrap"&gt;2010-29&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Disclosure of Supplementary Pro Forma Information for
       Business Combinations &lt;/i&gt;(&amp;#8220;ASC 805&amp;#8221;). The objective
       of this standard is to address diversity in practice about the
       interpretation of the pro forma revenue and earnings disclosure
       requirements for business combinations. This standard specifies
       that if a public entity presents comparative financial
       statements, the entity should disclose revenue and earnings of
       the combined entity as though the business combination(s) that
       occurred during the current year had occurred as of the
       beginning of the comparable prior annual reporting period only.
       This standard also expands the supplemental pro forma
       disclosures under ASC&amp;#160;805 to include a description of the
       nature and amount of material, nonrecurring pro forma
       adjustments directly attributable to the business combination
       included in the reported pro forma revenue and earnings. This
       standard is effective prospectively for business combinations
       for which the acquisition date is on or after the beginning of
       the first annual reporting period beginning on or after
       December&amp;#160;15, 2010. Early adoption is permitted. The Company
       does not expect the adoption of ASU
       &lt;font style="white-space: nowrap"&gt;2010-29&lt;/font&gt; will
       have a material impact on its consolidated financial statements.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:SignificantAccountingPoliciesTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
  <bidu:InvestmentsDisclosureTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 3 - bidu:InvestmentsDisclosureTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="3%"&gt;&lt;/td&gt;
       &lt;td width="97%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;3.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;INVESTMENTS&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Short-term
       investments&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       As of December&amp;#160;31, 2009 and 2010, the Company&amp;#8217;s
       short-term investments, which were fixed-rate investments
       classified as
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities, totaled approximately RMB381.15&amp;#160;million and
       RMB376.49&amp;#160;million (US$57.04&amp;#160;million), respectively. As
       of December&amp;#160;31, 2010, all the fixed-rate investments were
       time deposits in commercial banks and financial institutions
       with an original maturity of less than one year.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       During the years ended December&amp;#160;31, 2008, 2009 and 2010,
       the Company recorded short-term investment gains and interest
       income of RMB8.75&amp;#160;million, RMB8.18&amp;#160;million and
       RMB37.21&amp;#160;million (US$5.64&amp;#160;million) in the consolidated
       statements of income, respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Short-term investments as of December&amp;#160;31, 2009 and 2010
       were as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="43%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="9%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="9%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="18" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;As of December&amp;#160;31, 2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unrecognized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unrecognized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Amortized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Holding&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Holding&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Fair&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Fair&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Cost&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Gains&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Losses&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Short-term investments:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Held-to-maturity&lt;/font&gt;
       securities(1)
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 30pt"&gt;
       Fixed-rate investments
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,149
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       354
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,149
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       354
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="43%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="9%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="9%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="18" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;As of December&amp;#160;31, 2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unrecognized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unrecognized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Amortized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Holding&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Holding&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Fair&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Fair&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Cost&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Gains&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Losses&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Short-term investments:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Held-to-maturity&lt;/font&gt;
       securities(1)
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 30pt"&gt;
       Fixed-rate investments
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       376,492
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,263
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       56,854
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       376,492
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,263
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       56,854
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 3pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="2%"&gt;&lt;/td&gt;
       &lt;td width="1%"&gt;&lt;/td&gt;
       &lt;td width="97%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr&gt;
       &lt;td align="right" valign="top"&gt;
       (1) &lt;/td&gt;
       &lt;td&gt;&lt;/td&gt;
       &lt;td valign="bottom"&gt;
       The Company&amp;#8217;s
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities are stated at amortized cost and the fair value is
       determined based on a discounted cash flow model using the
       discount curve of market interest rates.&lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Long-term
       investments&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s long-term investments consist of cost method
       investments, equity method investments and
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Long-term
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s long-term investments in
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities are investments which are neither classified as cost
       method investments nor equity method investments.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In May 2010, the Company acquired 4,942,784
       &lt;font style="white-space: nowrap"&gt;series&amp;#160;A-1&lt;/font&gt;
       convertible redeemable preferred shares of 6DXchange Inc. with a
       total cash consideration of US$3.79&amp;#160;million. The Company
       holds 11.60% of equity interests of 6DXchange on an as-converted
       basis. In accordance with
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;320-10,&lt;/font&gt;
       investments in securities which are redeemable at the option of
       the investor are considered debt securities. The investment in
       6DXchange Inc. was classified as
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       debt securities because it was not classified as either
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       or trading securities as the convertible redeemable preferred
       shares have no stated maturity date and the Company does not
       have the intent to sell it in the near term. As the Company does
       not expect to sell or redeem it within one year and has the
       intent to hold it for long-term returns, the investment is
       classified as long-term
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       As of December&amp;#160;31, 2010, the fair value of long-term
       investments in available-for sale securities approximates the
       cost of the investment of US$3.79&amp;#160;million. For further
       information, see Note&amp;#160;18.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Cost
       method investments&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s carrying amount of cost method investments
       was RMB12.29&amp;#160;million and RMB204.35&amp;#160;million
       (US$30.96&amp;#160;million) as of December&amp;#160;31, 2009 and 2010,
       respectively. The increase is primarily due to the investment in
       the ordinary shares of a privately-held, PRC-based home
       furnishing
       &lt;font style="white-space: nowrap"&gt;E-commerce&lt;/font&gt;
       company in 2010, in which the Company does not have significant
       influence. The impairment charges on cost method investments
       were RMB7.99&amp;#160;million, nil and nil for the years ended
       December&amp;#160;31, 2008, 2009 and 2010, respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Equity
       method investments&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In July 2009, Beijing Perusal, together with Paibo Online
       (Beijing) Technology Co., Ltd. (&amp;#8220;Paibo&amp;#8221;), a subsidiary
       of Beijing News, set up a joint venture, Beijing Paibo Times
       Technology Co., Ltd. (&amp;#8220;Paibo Times&amp;#8221;), to operate a
       community website and provide information of interest to Beijing
       local residents. The registered capital of Paibo Times is
       RMB5.34&amp;#160;million (US$0.81&amp;#160;million). The Company holds
       42.12% equity interest in Paibo Times and accounts for the
       investment under the equity method.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In February 2010, the Company, Providence Equity Partners
       (&amp;#8220;Providence&amp;#8221;), and Dragon Ventures Limited
       (&amp;#8220;Dragon&amp;#8221;) signed an agreement, pursuant to which
       Providence and Dragon agreed to acquire US$50.00&amp;#160;million in
       convertible redeemable preferred shares and US$1.00&amp;#160;million
       in convertible preferred shares, respectively, of Qiyi.com,
       Inc., a Cayman Islands company established by the Company.
       Qiyi.com, Inc., and entities under its control, develop and
       operate an advertising supported online video business. The
       Company accounts for the investment in Qiyi.com, Inc. under the
       equity method despite holding 100% of its common shares due to
       certain substantive participating rights provided to the
       convertible redeemable preferred shareholder.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       On January&amp;#160;27, 2010, the Company signed an agreement with
       Rakuten, Inc. (&amp;#8220;Rakuten&amp;#8221;), an
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       website in Japan, to establish a joint venture, RakuBai Limited,
       to build a B2B2C online shopping mall for PRC Internet users.
       B2B2C refers to an online marketplace that links and provides
       value-added services to both business to business and business
       to consumer. On February&amp;#160;12, 2010, RakuBai Limited was
       incorporated in Hong Kong. The registered capital of RakuBai
       Limited is US$20.0&amp;#160;million. The Company holds 49% equity
       interest in RakuBai Limited and accounts for the investment
       under the equity method.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       On August&amp;#160;25, 2010, Baidu Netcom, together with Chongqing
       Yubao Culture Communication Co., Ltd. (&amp;#8220;Yubao&amp;#8221;),
       Chongqing Service News Office (&amp;#8220;Service News&amp;#8221;) and a
       third party individual, established Chongqing Rongdu Technology
       Co., Ltd. (&amp;#8220;Chongqing Rongdu&amp;#8221;) to operate a community
       website and provide daily information of interest to Chongqing
       local residents. The registered capital of Chongqing Rongdu is
       RMB2.50&amp;#160;million (USD$0.38&amp;#160;million). Baidu Netcom,
       Yubao, Service News and the third party individual hold 40%,
       30%, 15% and 15% of the JV&amp;#8217;s equity interest, respectively.
       The Company accounts for its investment in Chongqing Rongdu
       under the equity method.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       On December&amp;#160;22, 2010, Henan Ruizhiqi Information Technology
       Co., Ltd. (&amp;#8220;Henan Ruizhiqi&amp;#8221;), a third party company,
       transferred its 40% of the equity interest in Henan Feidian
       Network Technology Co., Ltd. (&amp;#8220;Henan Feidian&amp;#8221;) to
       Baidu Netcom at the nominal amount of RMB1.00 (USD$0.15). Henan
       Feidian operates a community website and provides daily
       information of interest to Henan local residents. The registered
       capital of Henan Feidian is RMB2.00&amp;#160;million
       (US$0.30&amp;#160;million). Baidu Netcom, Henan Ruizhiqi, Henan
       Business News and a third party individual hold 40%, 10%, 35%
       and 15% of Henan Feidian&amp;#8217;s equity interest, respectively.
       The Company accounts for its investment in Henan Feidian under
       the equity method. Henan Feidian had limited operation as of
       December&amp;#160;31, 2010.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       There was no impairment loss recognized for the years ended
       December&amp;#160;31, 2008, 2009 and 2010.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;/div&gt;
</bidu:InvestmentsDisclosureTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
  <us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 4 - us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="3%"&gt;&lt;/td&gt;
       &lt;td width="97%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;4.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;ACCOUNTS
       RECEIVABLE&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="72%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Accounts receivable
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       170,625
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       299,123
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       45,322
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Less: Allowance for doubtful accounts
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (9,015
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (2,223
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (337
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       161,610
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       296,900
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,985
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The movements in the allowance for doubtful accounts were as
       follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="66%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="3%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance at the beginning of the year
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,581
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,561
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,015
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,366
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Amounts charged to (credited against) costs and expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,390
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,792
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,029
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Write-offs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (2,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance at the end of the year
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,561
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,015
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,223
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       337
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
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  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
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   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
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       &lt;td width="97%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;5.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;OTHER
       ASSETS, CURRENT&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
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       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
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       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Deposits
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13,736
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       22,832
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,460
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Advances to suppliers
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,965
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,913
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,260
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Prepaid expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,026
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       33,275
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,042
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Interest receivable
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,469
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,994
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       908
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Receivables from employees
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       52,118
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,014
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,790
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Receivables from service provider
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,614
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       682
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       103
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Other
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       139
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       944
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       143
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       91,067
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       103,654
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15,706
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
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   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
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   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
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   &lt;tr valign="top"&gt;
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       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;6.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
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       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;FIXED
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   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Computer equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,128,844
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,956,642
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       296,461
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       363,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       391,895
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       59,378
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building related facility, machinery and equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       118,844
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       137,542
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       20,840
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Internal-use software development costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,925
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       37,022
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,609
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vehicles
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,020
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,829
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,035
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,687
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       82,431
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,490
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Leasehold improvements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       31,118
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       74,793
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       11,332
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Construction in progress
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15,637
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,797
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,242
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,764,273
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,701,951
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       409,387
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Less: Accumulated depreciation
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (766,716
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,079,539
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (163,567
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       997,557
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,622,412
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       245,820
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Depreciation expense was RMB259.64&amp;#160;million,
       RMB285.20&amp;#160;million and RMB380.89&amp;#160;million
       (US$57.71&amp;#160;million) for the years ended December&amp;#160;31,
       2008, 2009 and 2010, respectively.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
  <us-gaap:GoodwillAndIntangibleAssetsDisclosureTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 7 - us-gaap:GoodwillAndIntangibleAssetsDisclosureTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="3%"&gt;&lt;/td&gt;
       &lt;td width="97%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;7.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;GOODWILL
       AND INTANGIBLE ASSETS&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Goodwill&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The changes in the carrying amount of goodwill are as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="75%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="3%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance as of January 1
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       51,082
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       63,691
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,650
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Goodwill acquired
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,609
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Foreign currency translation adjustment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (5
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance as of December 31
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       63,691
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       63,686
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,649
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Intangible
       assets&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Intangible assets consist of the following:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="68%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;As of December&amp;#160;31, 2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Net&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Accumulated&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Amortization&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Finite-lived:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Land use right
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       97,611
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (5,043
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       92,568
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,825
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (14,567
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       258
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customer relationships
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       31,363
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (21,165
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-competition agreements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,115
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (936
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       179
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Software
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,616
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Contract-based assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       338
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (226
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       112
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,727
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (55
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,672
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       155,793
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (43,608
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       112,185
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Indefinite-lived:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,050
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,050
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       166,203
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (43,608
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       122,595
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="58%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;As of December&amp;#160;31, 2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Net&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Net&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Accumulated&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Amortization&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Finite-lived:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Land use right
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       97,611
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,995
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       90,616
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13,730
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,860
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (14,774
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       86
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customer relationships
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       31,408
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (26,870
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,538
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       687
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-competition agreements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,115
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,062
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       53
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Software
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,131
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (3,572
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,559
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,297
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Contract-based assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       338
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (281
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,727
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (248
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
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       1,479
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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       224
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
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   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
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   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       159,190
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (53,802
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       105,388
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15,968
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
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   &amp;#160;
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   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
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   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
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   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
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   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Indefinite-lived:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,418
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
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   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,050
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,050
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       159
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
   &lt;/td&gt;
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   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,577
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       169,600
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (53,802
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       115,798
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       17,545
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
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   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s indefinite-lived intangible assets include
       one domain name asset and the Company&amp;#8217;s trademark of
       &amp;#8220;BAIDU&amp;#8221;. This domain name asset was acquired in July
       2006 and is not subject to amortization, as the remaining useful
       life is indefinite. In addition, the Company&amp;#8217;s trademark of
       &amp;#8220;BAIDU&amp;#8221; qualified as a China well-known trademark by
       the State Trademark Office in March 2008. The registration costs
       were recorded as an intangible asset not subject to
       amortization, as the remaining useful life is indefinite.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Amortization expense for the years ended December&amp;#160;31, 2008,
       2009 and 2010 was RMB12.08&amp;#160;million, RMB10.73&amp;#160;million
       and RMB10.25&amp;#160;million (US$1.55&amp;#160;million), respectively.
       Estimated amortization expense relating to the existing
       intangible assets with finite lives for each of next five years
       is as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="85%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="2%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="2%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="2%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="2%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="3" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="3" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="7" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       For the year ending December&amp;#160;31,
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2011
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,944
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,204
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2012
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,455
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       827
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2013
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,488
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       680
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2014
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,166
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       480
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2015
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,815
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       427
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:GoodwillAndIntangibleAssetsDisclosureTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
  <us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 8 - us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="3%"&gt;&lt;/td&gt;
       &lt;td width="97%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;8.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;ACCOUNTS
       PAYABLE AND ACCRUED LIABILITIES&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="69%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Accrued payroll and welfare
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       95,412
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       150,160
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       22,752
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Accrued operating expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       162,963
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       297,248
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       45,038
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Tax payable
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       147,656
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       295,432
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,762
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Distributors&amp;#8217; deposits
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,971
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,431
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,126
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Purchase of fixed assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       144,214
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       277,669
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42,071
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Traffic acquisition costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       109,305
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       133,864
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       20,282
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Bandwidth costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       16,417
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,488
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,225
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Professional expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       19,420
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,937
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,930
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customers&amp;#8217; deposits on
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       19,513
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       38,278
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,800
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Others
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30,990
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,264
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,676
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       749,861
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,317,771
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       199,662
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The increase in accrued operating expenses resulted primarily
       from the incentives accrued for advertising agents.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The increase in purchase of fixed assets was mainly due to the
       purchase of computer equipment.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The increase in traffic acquisition costs was primarily due to
       the growth of revenue contribution from Baidu Union members.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
  <us-gaap:IncomeTaxDisclosureTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 9 - us-gaap:IncomeTaxDisclosureTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="3%"&gt;&lt;/td&gt;
       &lt;td width="97%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;9.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;INCOME
       TAXES&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company is incorporated in the Cayman Islands and conducts
       its primary business operations through the subsidiaries and
       VIEs in the PRC and Japan. It also has intermediate holding
       companies in the British Virgin Islands (&amp;#8220;BVI&amp;#8221;) and
       Hong Kong. Under the current laws of the Cayman Islands and BVI,
       the Company is not subject to tax on income or capital gains.
       Additionally, upon payments of dividends by the Company to its
       shareholders, no
   Cayman Islands and BVI withholding tax will be imposed. Under
       the Hong Kong tax laws, Baidu Hong Kong is exempted from income
       tax on its foreign-derived income and there are no withholding
       taxes in Hong Kong on remittance of dividends.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;China&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Under the current EIT Law which has been effective since 2008,
       domestic enterprises and Foreign Investment Enterprises (the
       &amp;#8220;FIE&amp;#8221;) are subject to a unified 25% enterprise income
       tax rate, except for certain entities that enjoyed the tax
       holidays.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       An enterprise recognized as a qualified &amp;#8220;High and New
       Technology Enterprise&amp;#8221; (&amp;#8220;HNTE&amp;#8221;) after 2008 is
       granted the preferential EIT rate of 15%. If an enterprise,
       which was recognized as a &amp;#8220;HNTE&amp;#8221; before 2008, is also
       verified as a HNTE after 2008, it is entitled to its remaining
       tax holiday granted before 2008 and a preferential EIT rate of
       15% upon expiration of the tax holiday thereafter. In accordance
       with tax circular Guoshuihan [2010] No.&amp;#160;157, a qualified
       HNTE which is in the transitional period of the preferential
       reduction of tax rates may choose to enjoy a subsequent 50%
       reduction on the transitional tax rate, or a preferential EIT
       rate of 15% without further 50% reduction.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       A qualified &amp;#8220;Software Enterprise&amp;#8221; is entitled to
       &lt;font style="white-space: nowrap"&gt;2-year&lt;/font&gt;
       exemption and subsequent 50% tax rate reduction for
       3&amp;#160;years. If the applicable preferential EIT rate for a
       &amp;#8216;&amp;#8216; Software Enterprise&amp;#8221; before 2008 is 15%, it
       enjoys gradual increase in tax rate from 2008 to 2012,
       specifically, 18% in 2008, 20% in 2009, 22% in 2010, 24% in
       2011, and 25% in 2012 according to Guofa [2007] No. 39. Thus, if
       an enterprise was recognized as a qualified &amp;#8220;Software
       Enterprise&amp;#8221; before 2008 and still retains this
       qualification after 2008, the tax exemptions and deductions
       enjoyed by the qualified &amp;#8220;Software Enterprise&amp;#8221; are
       based on the applicable tax rates.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Baidu Online, recognized as a qualified &amp;#8220;HNTE&amp;#8221; after
       2008, has enjoyed the preferential EIT rate of 15% from 2008.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Baidu Times, a qualified &amp;#8220;HNTE&amp;#8221; before 2008, was
       granted prior to the effectiveness of the current EIT Law, tax
       holidays for several years, that is, a
       &lt;font style="white-space: nowrap"&gt;3-year&lt;/font&gt; tax
       exemption from 2006 to 2008, and a subsequent 50% tax reduction
       on the transitional tax rate for 2&amp;#160;years from 2009 to 2010,
       namely, 10% in 2009 and 11% in 2010.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Baidu China, was recognized as a qualified &amp;#8220;Software
       Enterprise&amp;#8221; before 2008 and still retains this
       qualification after 2008, and thus is entitled to
       &lt;font style="white-space: nowrap"&gt;2-year&lt;/font&gt;
       exemption from 2006 to 2007 and subsequent 50% tax rate
       reduction for 3&amp;#160;years from 2008 to 2010 at 9% in 2008, 10%
       in 2009, and 11% in 2010.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Under the current EIT Law, dividends paid by a FIE to any of its
       foreign non-resident enterprise investors are subject to a 10%
       withholding tax. Thus, the dividends, if and when payable by
       Baidu Online to Baidu BVI, would be subject to 10% withholding
       tax. A lower tax rate will be applied if such foreign
       non-resident enterprise investor&amp;#8217;s jurisdiction of
       incorporation has signed a tax treaty or arrangement for the
       avoidance of double taxation and the prevention of fiscal
       evasion with respect to taxes on income with China. There is
       such a tax arrangement between PRC and Hong Kong. Thus, the
       dividends, if and when payable by Baidu Times and Baidu China to
       Baidu HK, would be subject to 5% withholding tax rather than
       statutory rate of 10% provided that Baidu HK meets the
       requirements stipulated by relevant PRC tax regulations.
       Furthermore, pursuant to the applicable circular and
       interpretations of the current EIT Law, dividends from earnings
       created prior to 2008 but distributed after 2008 are not subject
       to withholding income tax.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Moreover, the current EIT Law treats enterprises established
       outside of China with &amp;#8220;effective management and
       control&amp;#8221; located in China as PRC resident enterprises for
       tax purposes. The term &amp;#8220;effective management and
       control&amp;#8221; is generally defined as exercising overall
       management and control over the business, personnel, accounting,
       properties, etc. of an enterprise. The Company, if considered a
       PRC resident enterprise for tax purposes, would be subject to
       the PRC Enterprise Income Tax at the rate of 25% on its
       worldwide income for the
   period after January&amp;#160;1, 2008. As of December&amp;#160;31, 2010,
       the Company has not accrued for PRC tax on such basis. The
       Company will continue to monitor its tax status.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Japan&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Baidu Japan with a paid-in capital in excess of
       JPY100.00&amp;#160;million is subject to national income tax of 30%.
       Baidu Japan is also subject to inhabitants tax, assessed by both
       prefectures and municipalities. Inhabitants tax is computed as a
       percentage of national income tax. The per capita tax is based
       on the Company&amp;#8217;s capitalization and the number of
       employees. In addition, Baidu Japan is subject to a corporate
       enterprise tax on a pro forma basis based on the amount of
       taxable profit subject to the corporate tax, added-value
       components, (e.g. labor costs, net interest and rental payments,
       income/loss for current year) and a capital component. Baidu
       Japan has been in a cumulative loss position since its inception.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company had minimal operations in jurisdictions other than
       the PRC. Income (loss) before income taxes consists of:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="55%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,360,326
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,907,575
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,321,910
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       654,834
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (196,147
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (224,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (260,747
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (39,507
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,164,179
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,683,121
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,061,163
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       615,327
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The pre-tax losses from non-PRC operations consists primarily of
       the operating costs, administration expenses, interest income
       and charges for share-based compensation. Income taxes consist
       of:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="60%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Current income tax
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       129,885
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       222,778
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       616,994
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       93,483
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Income tax refund due to reduced transitional tax rate
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (13,923
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,625
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,004
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Deferred income tax benefit
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (58,553
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (62,308
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (129,415
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (19,608
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Valuation allowance
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,739
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       51,470
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       55,041
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,340
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       116,071
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       198,017
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       535,995
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       81,211
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The reconciliation of tax computed by applying respective
       statutory income tax rate to pre-tax income is as follows
       (Amounts in thousands of Renminbi (&amp;#8220;RMB&amp;#8221;), and in
       thousands of U.S.&amp;#160;Dollars (&amp;#8220;US$&amp;#8221;), except for per
       share data):
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="57%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Expected taxation at PRC EIT statutory rate
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       291,045
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       420,780
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,015,329
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       153,837
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Effect of differing tax rates in different jurisdictions
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,533
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,101
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,416
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,275
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Permanent differences&amp;#160;&amp;#8212; non-taxable income
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (2,121
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,640
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (733
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (111
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Permanent differences&amp;#160;&amp;#8212; non-deductible expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,703
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,001
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,935
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,656
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Tax incentives relating to R&amp;#038;D expenditures
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (17,848
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (9,125
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (22,925
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (3,473
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Effect of tax exemption and reduction inside PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (205,980
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (258,647
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (533,802
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (80,879
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Income tax refund due to overpaid provisional tax
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (13,923
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,625
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,004
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Addition of under-provided EIT for previous years
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,359
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,570
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Addition to valuation allowance
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,739
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       51,470
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       55,041
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,340
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Taxation for the year
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       116,071
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       198,017
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       535,995
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       81,211
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Effective tax rate
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9.97
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       %
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       11.76
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       %
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13.20
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       %
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13.20
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       %
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Basic earnings per share for Class&amp;#160;A and Class&amp;#160;B
       ordinary shares effect of tax exemptions and reductions inside
       the PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6.02
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7.48
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.34
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2.32
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s effective tax rate increased in fiscal year
       2010 compared with 2009, primarily due to the increase of the
       preferential EIT rates for Baidu China and Baidu Times, which
       increased from 10% to 11% and 7.5% to 11%, respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The tax effects of temporary differences that give rise to the
       deferred tax balance at December&amp;#160;31, 2009 and 2010 are as
       follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="69%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Provision for doubtful receivables
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,103
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,964
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       298
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Fixed assets depreciation
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       37,800
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       41,089
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,225
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Net operating loss carry-forward
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       117,964
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       173,644
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,310
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Accrued expenses, payroll and others
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,007
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       80,592
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,211
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Deferred tax assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       167,874
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       297,289
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       45,044
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Valuation allowance
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (124,918
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (179,959
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (27,267
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Deferred tax assets, net
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42,956
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       117,330
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       17,777
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company does not believe that sufficient positive evidence
       exists to conclude that the recoverability of Baidu Japan&amp;#8217;s
       net deferred tax assets is more likely than not to be realized.
       Consequently, the Company has provided full valuation allowances
       on the related net deferred tax assets.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       As of December&amp;#160;31, 2010, the Company had net operating
       losses of approximately RMB461.00&amp;#160;million
       (US$69.85&amp;#160;million) from Baidu Japan, Baidu HK and PRC
       entities, which can be carried forward to offset future net
   profit for income tax purposes. The Japan net operating loss
       will expire beginning 2015; the PRC net operating loss will
       expire beginning 2014; and the HK net operating loss can be
       carried forward without an expiration date.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company has evaluated its income tax uncertainty under
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;740-10.&lt;/font&gt;
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;740-10&lt;/font&gt;
       clarifies the accounting for uncertainty in income taxes by
       prescribing the recognition threshold a tax position is required
       to meet before being recognized in the financial statements. The
       Company has elected to classify interest and penalties related
       to an uncertain tax position, if and when required, as part of
       income tax expense in the consolidated statements of operations.
       As of December&amp;#160;31, 2010, there is no significant tax
       uncertainty impact on the Company&amp;#8217;s financial position and
       result of operations.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company did not provide for deferred income taxes and
       foreign withholding taxes on the undistributed earnings of
       foreign subsidiaries as of December&amp;#160;31, 2009 and 2010 on
       the basis of its intent to permanently reinvest foreign
       subsidiaries&amp;#8217; earnings. If these foreign earnings were to
       be repatriated in the future, the related tax liability may be
       reduced by any foreign income taxes previously paid on these
       earnings. Determination of the amount of unrecognized deferred
       tax liability related to these earnings is not practicable. In
       the case of its VIEs, undistributed earnings were insignificant
       as of each of the balance sheet dates.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In general, the PRC and Japanese tax authorities have up to five
       and seven years respectively to conduct examinations of the
       Company&amp;#8217;s tax filings. Accordingly, the PRC
       subsidiaries&amp;#8217; tax years
       &lt;font style="white-space: nowrap"&gt;2007-2010&lt;/font&gt;
       and the Japanese subsidiary&amp;#8217;s tax years
       &lt;font style="white-space: nowrap"&gt;2007-2010&lt;/font&gt;
       remain open to examination by the respective taxing
       jurisdictions.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:IncomeTaxDisclosureTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
  <bidu:LongTermLoansPayableDisclosureTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 10 - bidu:LongTermLoansPayableDisclosureTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="5%"&gt;&lt;/td&gt;
       &lt;td width="95%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;10.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;LOANS
       PAYABLE, NONCURRENT&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       On October&amp;#160;27, 2010, Baidu Netcom borrowed a loan from the
       Export-Import Bank of China to finance some of its
       government-sponsored research projects, at the annual interest
       rate of 5.60%, with respect to which the government will provide
       a cash subsidy at the amount that approximates the interest of
       the loan. The commitment of the unsecured bank loan amounts to
       RMB140.00&amp;#160;million (US$21.21&amp;#160;million) and can be
       borrowed from time to time within 3&amp;#160;years. As of
       December&amp;#160;31, 2010, Baidu Netcom borrowed
       RMB86.00&amp;#160;million (US$13.03&amp;#160;million) under the
       commitment. The loan will be repaid according to the following
       schedule from July&amp;#160;30, 2012. Baidu Netcom has the right to
       repay and may terminate the loan upon a notice in advance.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="83%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Principal Amount&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Due Date&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       July&amp;#160;30, 2012
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       23,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,485
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       October&amp;#160;30, 2012
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       23,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,485
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       January&amp;#160;30, 2013
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       23,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,485
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       April&amp;#160;30, 2013
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       17,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,575
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       86,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13,030
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:LongTermLoansPayableDisclosureTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
  <bidu:EmployeeDefinedContributionPlanDisclosureTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 11 - bidu:EmployeeDefinedContributionPlanDisclosureTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="5%"&gt;&lt;/td&gt;
       &lt;td width="95%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;11.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;EMPLOYEE
       DEFINED CONTRIBUTION PLAN&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Full time employees of the Group in the PRC participate in a
       government mandated multi-employer defined contribution plan
       pursuant to which certain pension benefits, medical care,
       unemployment insurance, employee housing fund and other welfare
       benefits are provided to employees. Chinese labor regulations
       require that the Group make contributions to the government for
       these benefits based on certain percentages of the
       employees&amp;#8217; salaries. The Company has no legal obligation
       for the benefits beyond the contributions. The total amounts for
       such employee benefits, which were expensed as incurred, were
       RMB98.18&amp;#160;million, RMB141.84&amp;#160;million and
       RMB218.88&amp;#160;million (US$33.16&amp;#160;million) for the years
       ended December&amp;#160;31, 2008, 2009 and 2010, respectively.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;/div&gt;
</bidu:EmployeeDefinedContributionPlanDisclosureTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
  <bidu:CommitmentsContingenciesAndGuaranteesDisclosureTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 12 - bidu:CommitmentsContingenciesAndGuaranteesDisclosureTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="5%"&gt;&lt;/td&gt;
       &lt;td width="95%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;12.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;COMMITMENTS
       AND CONTINGENCIES&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Capital
       commitments&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s capital commitments relate primarily to
       expenditures on computer equipment and the consideration in
       relation to a business combination that will be closed in 2011.
       Total capital commitments contracted but not yet reflected in
       the financial statements amounted to RMB168.40&amp;#160;million
       (US$25.52&amp;#160;million) at December&amp;#160;31, 2010. All of these
       capital commitments are to be fulfilled within the next year.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Operating
       lease commitments&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company leases facilities in the PRC under non-cancelable
       operating leases expiring on different dates. Payments under
       operating leases are expensed on a straight-line basis over the
       periods of the respective leases. Total rental expense under all
       operating leases was RMB68.86&amp;#160;million,
       RMB84.43&amp;#160;million and RMB76.87&amp;#160;million
       (US$11.65&amp;#160;million) for the years ended December&amp;#160;31,
       2008, 2009 and 2010, respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Future minimum payments under non-cancelable operating leases
       with initial terms of one-year or more consist of the following
       at December&amp;#160;31, 2010:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="81%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2011
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       259,927
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       39,383
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2012
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       171,275
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,951
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2013
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       151,748
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       22,992
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2014
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       111,659
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       16,918
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2015
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       75,457
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       11,433
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Thereafter
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       79,749
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,083
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       849,815
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       128,760
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Guarantees&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company accounts for guarantees in accordance with ASC
       subtopic
       &lt;font style="white-space: nowrap"&gt;460-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;460-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Guarantees: Overall&lt;/i&gt;. Accordingly, the Company evaluates
       its guarantees to determine whether (a)&amp;#160;the guarantee is
       specifically excluded from the scope of
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;460-10,&lt;/font&gt;
       (b)&amp;#160;the guarantee is subject to
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;460-10&lt;/font&gt;
       disclosure requirements only, but not subject to the initial
       recognition and measurement provisions, or (c)&amp;#160;the
       guarantee is required to be recorded in the financial statements
       at fair value.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The corporate by-laws require that the Company indemnify its
       officers and directors, as well as those who act as directors
       and officers of other entities at the Company&amp;#8217;s request,
       against expenses, judgments, fines, settlements and other
       amounts actually and reasonably incurred in connection with any
       proceedings arising out of their services to the Company. In
       addition, the Company has entered into separate indemnification
       agreements with each director and each executive officer of the
       Company that provide for indemnification of these directors and
       officers under similar circumstances and under additional
       circumstances. The indemnification obligations are more fully
       described in the by-laws and the indemnification agreements. The
       Company purchases standard directors and officers insurance to
       cover claims or a portion of the claims made against its
       directors and officers. Since a maximum obligation is not
       explicitly stated in the Company&amp;#8217;s by-laws or in the
       indemnification agreements and will depend on the facts and
       circumstances that arise out of any future claims, the overall
       maximum amount of the obligations cannot be reasonably estimated.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Historically, the Company has not been required to make payments
       related to these obligations, and the fair value for these
       obligations is zero in the consolidated balance sheets as of
       December&amp;#160;31, 2009 and 2010.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Baidu Online has unconditionally guaranteed the repayment of
       RMB-denominated bank loans from Export-Import Bank of China and
       related interest and fees of Baidu Netcom. The guarantees
       continue until the loans, including accrued interest and fees,
       have been repaid in full. These guarantees expire in 2012. The
       maximum exposure to the Company under this commitment is
       RMB140.00&amp;#160;million (US$21.21&amp;#160;million) as of
       December&amp;#160;31, 2010 and is limited to the sum of unpaid
       principal and interest, as well as other related expenses.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Litigation&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Baidu Netcom, Baidu China, Baidu Online and Baidu Times were
       involved in certain cases pending in various PRC courts and
       arbitration as of December&amp;#160;31, 2010. These cases include
       copyright infringement cases, unfair competition cases, and
       defamation cases, among others. Adverse results in these
       lawsuits may include awards of damages and may also result in,
       or even compel, a change in the Company&amp;#8217;s business
       practices, which could result in a loss of revenue or otherwise
       harm the business of the Company.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       As of December&amp;#160;31, 2010, the plaintiffs claimed
       compensation of RMB132.95&amp;#160;million (US$20.14&amp;#160;million).
       Although the results of litigation and claims cannot be
       predicted with certainty, the Company does not expect the
       outcome of the matters discussed above will result in a material
       adverse effect on its business, consolidated financial position,
       results of operations or cash flows.
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:CommitmentsContingenciesAndGuaranteesDisclosureTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
  <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 13 - us-gaap:StockholdersEquityNoteDisclosureTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="5%"&gt;&lt;/td&gt;
       &lt;td width="95%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;13.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;SHAREHOLDERS&amp;#8217;
       EQUITY&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Ordinary
       shares&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Upon completion of the Company&amp;#8217;s initial public offering
       (&amp;#8220;IPO&amp;#8221;) in August 2005, 16,648,877 Class B Ordinary
       shares were issued upon conversion of all convertible preferred
       shares. In addition, immediately following the closing of the
       IPO, the Memorandum and Articles of Association were amended and
       restated such that the authorized share capital consisted of
       870,400,000 ordinary shares at a par value of US$0.00005 per
       share, of which 825,000,000&amp;#160;shares were designated as
       Class&amp;#160;A ordinary shares, 35,400,000 as Class&amp;#160;B
       ordinary shares, and 10,000,000&amp;#160;shares designated as
       preferred shares. The rights of the holders of Class&amp;#160;A and
       Class&amp;#160;B ordinary shares are identical, except with respect
       to voting and conversion rights. Each share of Class&amp;#160;A
       ordinary shares is entitled to one vote per share and is not
       convertible into Class&amp;#160;B ordinary shares under any
       circumstances. Each share of Class&amp;#160;B ordinary shares is
       entitled to ten votes per share and is convertible into one
       Class&amp;#160;A ordinary share at any time by the holder thereof.
       Upon any transfer of Class&amp;#160;B ordinary shares by the holder
       thereof to any person or entity that is not an affiliate of such
       holder, such Class&amp;#160;B ordinary shares would be automatically
       converted into an equal number of Class&amp;#160;A ordinary shares.
       There were 122,856, 419,654 and 650,000 Class&amp;#160;B ordinary
       shares transferred to Class&amp;#160;A ordinary shares in 2008, 2009
       and 2010, respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       As of December&amp;#160;31, 2010 there were 27,045,340 and 7,804,332
       Class&amp;#160;A and Class&amp;#160;B ordinary shares outstanding,
       respectively. As of December&amp;#160;31, 2009 and 2010, there were
       no preferred shares issued and outstanding.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Comprehensive
       Income&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Comprehensive income is defined as the change in equity of the
       Company during a period from transactions and other events and
       circumstances excluding transactions resulting from investments
       by owners and distributions to owners. Comprehensive income is
       reported in the consolidated statements of shareholders&amp;#8217;
       equity. Accumulated other comprehensive income (loss) of the
       Company consists of foreign currency translation adjustments.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Retained
       earnings&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In accordance with the Regulations on Enterprises with Foreign
       Investment of China and their articles of association, the
       Company&amp;#8217;s PRC subsidiaries, being foreign invested
       enterprises established in China, are required to make
       appropriations to certain statutory reserves, namely a general
       reserve fund, an enterprise expansion fund, a
   staff welfare fund and a bonus fund, all of which are
       appropriated from net profit as reported in their PRC statutory
       accounts. Each of the Company&amp;#8217;s subsidiaries is required to
       allocate at least 10% of its after-tax profits to a general
       reserve fund until such fund has reached 50% of its respective
       registered capital. Appropriations to the enterprise expansion
       fund and staff welfare and bonus funds are at the discretion of
       the board of directors of the Company&amp;#8217;s subsidiaries.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In accordance with the China Company Laws, the Company&amp;#8217;s
       VIEs must make appropriations from their after-tax profits as
       reported in their PRC statutory accounts to non-distributable
       reserve funds, namely a statutory surplus fund, a statutory
       public welfare fund and a discretionary surplus fund. Each of
       the Company&amp;#8217;s VIEs is required to allocate at least 10% of
       its after-tax profits to the statutory surplus fund until such
       fund has reached 50% of its respective registered capital.
       Appropriation to the statutory public welfare fund is 5% to 10%
       of the after-tax profits as reported in the PRC statutory
       accounts. Effective from January&amp;#160;1, 2006, under the revised
       China Company Laws, appropriation to the statutory public
       welfare fund is no longer mandatory. Appropriations to the
       discretionary surplus fund are made at the discretion of the
       Company&amp;#8217;s VIEs.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       General reserve and statutory surplus funds are restricted to
       set-off against losses, expansion of production and operation
       and increasing registered capital of the respective company.
       Staff welfare and bonus fund and statutory public welfare funds
       are restricted to capital expenditures for the collective
       welfare of employees. The reserves are not allowed to be
       transferred to the Company in terms of cash dividends, loans or
       advances, nor are they allowed for distribution except under
       liquidation.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="65%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       PRC statutory reserve funds
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       187,675
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       238,107
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       36,077
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Unreserved retained earnings
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,252,854
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,727,590
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,019,332
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,440,529
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,965,697
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,055,409
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Under PRC laws and regulations, there are restrictions on the
       Company&amp;#8217;s PRC subsidiaries and VIEs with respect to
       transferring certain of their net assets to the Company either
       in the form of dividends, loans, or advances. Amounts restricted
       include paid up capital and statutory reserve funds of the
       Company&amp;#8217;s PRC subsidiaries and the net assets of VIEs in
       which the Company has no legal ownership, totaling approximately
       RMB879.43&amp;#160;million and RMB1.15&amp;#160;billion
       (US$174.59&amp;#160;million) as of December&amp;#160;31, 2009 and 2010,
       respectively.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;/div&gt;
</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
  <us-gaap:EarningsPerShareTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 14 - us-gaap:EarningsPerShareTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="5%"&gt;&lt;/td&gt;
       &lt;td width="95%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;14.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;EARNINGS
       PER SHARE (&amp;#8220;EPS&amp;#8221;)&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       On April&amp;#160;28, 2010, the Company announced a change in the
       ratio of its American depositary shares (&amp;#8220;ADSs&amp;#8221;)
       representing Class&amp;#160;A ordinary shares from one ADS for one
       share to ten ADSs for one share, effective on May&amp;#160;12, 2010.
       For Baidu&amp;#8217;s ADS holders, this ratio change has the same
       effect as
       &lt;font style="white-space: nowrap"&gt;ten-for-one&lt;/font&gt;
       ADS split.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The following table sets forth the computation of basic and
       diluted net income per share for Class A and Class&amp;#160;B
       ordinary shares.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (Amounts in thousands of Renminbi (&amp;#8220;RMB&amp;#8221;), and in
       thousands of U.S.&amp;#160;Dollars (&amp;#8220;US$&amp;#8221;), except for
       number of shares, per share and per ADS data)
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="36%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=07 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=07 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=07 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=07 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=08 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=08 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=08 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=08 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=09 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=09 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=09 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=09 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 7pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="30" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 7pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 7pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class A&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class B&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class A&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class B&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class A&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class A&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class B&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class B&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 7pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per share&amp;#160;&amp;#8212; basic:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Numerator
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Allocation of undistributed earnings
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       772,330
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       275,778
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,107,191
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       377,913
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,690,712
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       407,683
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       834,456
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       126,433
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Weighted average ordinary shares outstanding
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,214,154
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,003,290
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,773,593
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,797,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator used for earnings per share
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,214,154
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,003,290
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,773,593
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,797,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per share&amp;#160;&amp;#8212; basic
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30.63
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30.63
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42.96
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42.96
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       101.28
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.35
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       101.28
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.35
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per share&amp;#160;&amp;#8212; diluted:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Numerator
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Allocation of undistributed earnings for diluted computation
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       765,509
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       282,599
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,107,067
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       378,037
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,693,365
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       408,085
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       831,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       126,031
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Reallocation of undistributed earnings as a result of conversion
       of Class&amp;#160;B to Class&amp;#160;A shares
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       282,599
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       378,037
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       831,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       126,031
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Allocation of undistributed earnings
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,048,108
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       282,599
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,485,104
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       378,037
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,525,168
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       534,116
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       831,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       126,031
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Weighted average ordinary shares outstanding
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,214,154
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,003,290
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,773,593
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,797,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Conversion of Class&amp;#160;B to Class&amp;#160;A ordinary shares
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,003,290
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,797,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Share-based awards
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       500,046
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       357,512
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       205,576
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       55,210
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       112,474
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       112,474
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       350
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       350
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator used for earnings per share
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,717,490
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360,802
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,776,366
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,852,408
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,917,835
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,917,835
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,239,257
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,239,257
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per share&amp;#160;&amp;#8212; diluted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30.19
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30.19
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42.70
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42.70
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       100.96
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.30
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       100.96
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.30
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per ADS:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator used for earnings per ADS&amp;#160;&amp;#8212; basic
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       252,141,540
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       257,735,930
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       265,664,540
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       265,664,540
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator used for earnings per ADS&amp;#160;&amp;#8212; diluted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       347,174,900
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       347,763,660
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       349,178,350
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       349,178,350
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per ADS&amp;#160;&amp;#8212; basic
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3.06
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4.30
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10.13
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1.53
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per ADS&amp;#160;&amp;#8212; diluted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3.02
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4.27
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10.10
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1.53
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:EarningsPerShareTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 15 - us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="5%"&gt;&lt;/td&gt;
       &lt;td width="95%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;15.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;SHARE-BASED
       AWARDS PLAN&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Incentive
       Compensation Plans&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In January 2000, the Company adopted the 2000 Option Plan (the
       &amp;#8220;2000 Plan&amp;#8221;). The 2000 Plan provided for the granting
       of share options and restricted ordinary shares to employees and
       consultants of the Company. All the options granted to Company
       employees and consultants under the 2000 Plan were nonqualified
       share options (&amp;#8220;NSO&amp;#8221;). The Company reserved 5,040,000
       ordinary shares for issuance under the 2000 Plan. Under the 2000
       Plan, which has expired during 2010, options granted generally
       vest 25% after the first year of service and ratably each month
       over the remaining
       &lt;font style="white-space: nowrap"&gt;36-month&lt;/font&gt;
       period.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In December 2008, the Company amended the 2000 Plan by adding a
       new section regarding adjustment of exercise price. The exercise
       price per share subject to an option might be amended or
       adjusted in the absolute discretion of the 2000 Plan
       administrator, which was the Board of Directors, and the
       determination of which should be final, binding and conclusive.
       A downward adjustment of the exercise prices should be effective
       without the approval of the Company&amp;#8217;s shareholders or the
       approval of the affected grantees.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In December 2008, the Company adopted a share incentive plan
       (the &amp;#8220;2008 Plan&amp;#8221;). The 2008 Plan provides for the
       granting of share incentives, which include incentive share
       option (&amp;#8220;ISO&amp;#8221;), restricted shares and any other form
       of award pursuant to the 2008 Plan, to members of the board,
       employees and consultants of the Company. However, the Company
       may grant ISOs only to its employees. The Company has reserved
       3,428,777 ordinary shares for issuance under the 2008 Plan,
       which will expire in the year 2018. The vesting schedule, time
       and condition to exercise options will be determined by the
       compensation committee. The term of the options may not exceed
       ten years from the date of the grant, except that five years is
       the maximum term of an ISO granted to an employee who holds more
       than 10% of the voting power of the Company&amp;#8217;s share capital.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Under the 2008 Plan, the exercise price per share subject to an
       option may be amended or adjusted at the discretion of the
       compensation committee, the determination of which shall be
       final, binding and conclusive. To the extent not prohibited by
       applicable laws or exchange rules, a downward adjustment of the
       exercise prices shall be effective without the approval of the
       Company&amp;#8217;s shareholders or the approval of the affected
       grantees. If the Company grants an ISO to an employee who, at
       the time of that grant, owns shares representing more than 10%
       of the voting power of all classes of the Company&amp;#8217;s share
       capital, the exercise price cannot be less than 110% of the fair
       market value of the Company&amp;#8217;s ordinary shares on the date
       of that grant.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Starting from February&amp;#160;15, 2006, the Company has granted
       restricted Class&amp;#160;A ordinary shares (&amp;#8220;Restricted
       Shares&amp;#8221;) of the Company. Terms for Restricted Shares are
       the same as share options except that Restricted Shares do not
       require exercise and have a two to four years vesting term.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The following table summarizes the option activity for the year
       ended December&amp;#160;31, 2010:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="52%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="10%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=maindata --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Weighted&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Average&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Aggregate&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Weighted&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Remaining&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Intrinsic&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Number of&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Average&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Contractual&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Value (US$)&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Share Option&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Shares&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Exercise Price&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Life (Years)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Outstanding, December&amp;#160;31, 2009
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       154,674
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$110.80
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2.56
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       46,469
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Granted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       23,729
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$610.08
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Exercised
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (59,068
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$92.00
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Forfeited/Cancelled
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (19,175
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$133.49
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Expired
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (985
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$17.95
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Outstanding, December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       99,175
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$237.99
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2.57
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       72,164
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vested and expected to vest at December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       94,655
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$232.69
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2.52
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       69,375
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Exercisable at December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       55,089
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$115.11
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1.4
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       46,836
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The aggregate intrinsic value in the table above represents the
       difference between the Company&amp;#8217;s closing stock price on the
       last trading day in 2010 and the exercise price.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Total intrinsic value of options exercised for the three years
       ended December&amp;#160;31, 2008, 2009 and 2010 was
       RMB465.25&amp;#160;million, RMB340.13&amp;#160;million and
       RMB263.97&amp;#160;million (US$40.00&amp;#160;million), respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       As of December&amp;#160;31, 2010, there was RMB51.32&amp;#160;million
       (US$7.78&amp;#160;million) unrecognized share-based compensation
       cost related to share options. That deferred cost is expected to
       be recognized over a weighted-average vesting period of
       2.90&amp;#160;years. To the extent the actual forfeiture rate is
       different from original estimate, actual share-based
       compensation costs related to these awards may be different from
       the expectation.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       On February&amp;#160;11, 2009, the Company cancelled options
       previously granted to certain executives with the exercise price
       significantly higher than the fair market value at that time,
       and concurrently re-granted the same number of options at the
       then current fair market value. The vesting of the replacement
       option starts from the date of grant, and all other terms remain
       the same as the original option. The cancellation and re-grant
       was intended to provide incentives for these executives. In
       accordance with
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;718-10,&lt;/font&gt;
       the Company accounted for the cancellation of an award
       accompanied by the concurrent grant of a replacement award as a
       modification of the terms of the cancelled award. Therefore,
       incremental compensation cost was measured as the excess of the
       fair value of the replacement award over the fair value of the
       cancelled award at the cancellation date. The incremental cost
       resulting from the cancellation and replacement was
       US$0.60&amp;#160;million. The cost is being amortized on a
       straight-line basis over the vesting term of four years of the
       replacement option.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Restricted
       Shares&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Restricted shares activity for the year ended December&amp;#160;31,
       2010 was as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="77%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Weighted&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Average&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Number of&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Grant Date&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Restricted Shares&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Shares&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Fair Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Nonvested, December&amp;#160;31, 2009
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       47,694
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       224.34
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Granted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,390
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       701.15
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vested
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (37,312
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       220.09
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Forfeited
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (5,155
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       329.26
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Nonvested, December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       49,617
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       643.22
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       As of December&amp;#160;31, 2010, there was RMB162.53&amp;#160;million
       (US$24.63&amp;#160;million) unrecognized share-based compensation
       cost related to restricted shares. That deferred cost will be
       recognized over a weighted-average vesting period of
       2.66&amp;#160;years. To the extent the actual forfeiture rate is
       different from the original estimate, actual share-based
       compensation costs related to these awards may be different from
       the expectation.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The fair value of each option award was estimated on the date of
       grant using the Black-Scholes Method valuation model. The
       volatility assumption was estimated based on implied volatility
       and historical volatility of the Company&amp;#8217;s share price
       applying the guidance provided by ASC subtopic
       &lt;font style="white-space: nowrap"&gt;718-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;718-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Compensation-Stock Compensation: Overall&lt;/i&gt;. The Company
       considered the comparable data in 2008 because the Company had
       limited relevant historical information to support the expected
       volatility assumption as the Company has been a public company
       only since August 2005. The Company begins to estimate the
       volatility assumption solely based on its historical information
       since 2009. Assumptions about the expected term were based on
       the vesting and contractual terms and employee demographics. The
       risk-free rate for periods within the contractual life of the
       option is based on the U.S.&amp;#160;Treasury yield curve in effect
       at the time of grant.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The following table presents the assumptions used to estimate
       the fair values of the share options granted in the periods
       presented:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="53%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="16%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=maindata --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="7%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=maindata --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="16%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=maindata --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Risk-free interest rate
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       1.74%&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;2.60%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       1.18%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       0.61%&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;1.13%
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Dividend yield
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Expected volatility range
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       63.52%&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;70.82%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       85.43%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       64.76%&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;69.70%
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Weighted average expected volatility
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       66.54%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       85.43%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       68.12%
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Expected life (in years)
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       1.63&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;2.64
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       2.65
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       2.65&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;2.66
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In addition, the Company recognizes share-based compensation
       expense net of an estimated forfeiture rate and therefore only
       recognizes compensation cost for those shares expected to vest
       over the service period of the award. The estimation of the
       forfeiture rate is based primarily upon historical experience of
       employee turnover. To the extent the Company revises this
       estimate in the future, the share-based payments could be
       materially impacted in the year of revision, as well as in
       following years. During the year ended December&amp;#160;31, 2010,
       the estimated forfeiture rate decreased for the employee group
       primarily due to changes in historical employee turnover rates.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The exercise price of options granted during the years 2008,
       2009, and 2010 equaled the market price of the ordinary shares
       on the grant date. The weighted-average grant-date fair value of
       options granted during the years 2008, 2009, and 2010 was
       US$136.97, US$94.10, and US$279.69, respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The total fair value of shares vested during the years ended
       December&amp;#160;31, 2008, 2009 and 2010 was RMB37.57&amp;#160;million,
       RMB201.83&amp;#160;million, RMB237.71&amp;#160;million
       (US$36.02&amp;#160;million), respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Total compensation cost recognized is as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="65%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Cost of revenues
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,542
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,374
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,302
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       955
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Selling, general and administrative
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       41,651
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       38,681
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       36,811
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,577
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Research and development
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       37,784
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       41,263
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       50,623
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,670
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Share-based compensation cost capitalized as part of internally
       used software in fixed assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,706
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,217
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       226
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       35
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       86,683
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       87,535
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       93,962
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,237
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
  <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 16 - us-gaap:RelatedPartyTransactionsDisclosureTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="5%"&gt;&lt;/td&gt;
       &lt;td width="95%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;16.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;RELATED
       PARTY TRANSACTIONS&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The amounts due from related parties mainly represent payments
       due from advertising services provided and borrowings provided
       by the Company to its equity investees. The amounts due from
       equity investees are unsecured and repayable on contract terms,
       which arose in the ordinary course of business.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The amounts due to related parties represent unsecured and
       interest free short-term loans provided by the Company&amp;#8217;s
       equity investees, which arose in the ordinary course of business.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
  <us-gaap:SegmentReportingDisclosureTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 17 - us-gaap:SegmentReportingDisclosureTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="5%"&gt;&lt;/td&gt;
       &lt;td width="95%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;17.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;SEGMENT
       REPORTING&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;280-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;280-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Segment Reporting: Overall&lt;/i&gt;, the Company&amp;#8217;s chief
       operating officer relies upon consolidated results of operations
       when making decisions about allocating resources and assessing
       performance of the Company; hence, the Company has only one
       single operating segment. The Company does not distinguish
       between markets or segments for the purpose of internal
       reporting.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s revenue and long-lived assets are primarily
       derived from and located in the PRC. The Company has only
       minimal operations in Japan and other countries.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The following table sets forth revenues by geographic area:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="53%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Revenues:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,194,635
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,441,580
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,898,805
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,196,789
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Non-PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,617
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,196
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       16,269
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,465
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,198,252
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,447,776
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,915,074
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,199,254
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The following table sets forth long-lived assets by geographic
       area:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="67%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Long-lived assets:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,093,681
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,785,511
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       270,532
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Non-PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       49,720
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       45,872
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,950
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,143,401
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,831,383
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       277,482
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:SegmentReportingDisclosureTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
  <us-gaap:FairValueDisclosuresTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 18 - us-gaap:FairValueDisclosuresTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="5%"&gt;&lt;/td&gt;
       &lt;td width="95%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;18.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;FAIR
       VALUE MEASUREMENT&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       ASC subtopic
       &lt;font style="white-space: nowrap"&gt;820-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;820-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Fair Value Measurements and Disclosures: Overall,&lt;/i&gt;
       establishes a three-tier fair value hierarchy, which prioritizes
       the inputs used in measuring fair value as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;i&gt;Level&amp;#160;1&lt;/i&gt;&amp;#160;&amp;#8212; Observable inputs that reflect
       quoted prices (unadjusted) for identical assets or liabilities
       in active markets
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;i&gt;Level&amp;#160;2&lt;/i&gt;&amp;#160;&amp;#8212; Include other inputs that are
       directly or indirectly observable in the marketplace
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;i&gt;Level&amp;#160;3&lt;/i&gt;&amp;#160;&amp;#8212; Unobservable inputs which are
       supported by little or no market activity
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       ASC &lt;font style="white-space: nowrap"&gt;820-10&lt;/font&gt;
       describes three main approaches to measuring the fair value of
       assets and liabilities: (1)&amp;#160;market approach;
       (2)&amp;#160;income approach and (3)&amp;#160;cost approach. The market
       approach uses prices and other relevant
   information generated from market transactions involving
       identical or comparable assets or liabilities. The income
       approach uses valuation techniques to convert future amounts to
       a single present value amount. The measurement is based on the
       value indicated by current market expectations about those
       future amounts. The cost approach is based on the amount that
       would currently be required to replace an asset.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Assets
       and liabilities measured at fair value on a recurring
       basis&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In accordance with
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;820-10,&lt;/font&gt;
       the Company measures cash equivalents and debt and equity
       securities, including
       &lt;font style="white-space: nowrap"&gt;held-to-maturity,&lt;/font&gt;
       trading and
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities, at fair value. Cash equivalents are valued using
       quoted market prices. The Company&amp;#8217;s
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities, including fixed-rate investments and adjustable-rate
       investments, are stated at amortized cost with the fair value
       determined based on the discounted cash flow model using the
       discount curve of market interest rates. The Company&amp;#8217;s
       short-term
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities were recorded at fair value based on quoted market
       prices. The Company&amp;#8217;s long-term
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities were initially recognized at the market price. The
       fair value on December&amp;#160;31, 2010 was determined by using the
       income approach based on inputs that are unobservable in the
       market.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In May 2010, the Company acquired a long-term investment in
       6DXchange Inc., which is classified as an
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       security. As there was no readily determinable fair value for
       the investment in 6DXchange Inc., the Company estimated its fair
       value as of December&amp;#160;31, 2010 using an income approach by
       considering cash flow forecasts, discount rate, actual and
       projected operational performance and certain market data
       related to the business of 6DXchange Inc. As of
       December&amp;#160;31, 2010, the fair value of long-term investments
       in available-for sale securities approximates the cost of the
       investment of US$3.79&amp;#160;million. There has been no impairment
       charge of this long-term
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       security during the year ended December&amp;#160;31, 2010.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Assets measured at fair value on a recurring basis are
       summarized below (in thousands):
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="34%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="12%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="11%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Fair Value Measurement at December&amp;#160;31, 2009 Using&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Quoted Prices in&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant Other&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Active Markets for&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Observable&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unobservable&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Identical Assets&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Inputs&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Inputs&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Total Fair Value at&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 1)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 2)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 3)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31, 2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(US$)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Cash equivalents:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Time deposits
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,658,678
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,658,678
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       251,315
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Money market fund
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       234,782
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       234,782
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       35,573
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Short-term investments:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Held-to-maturity&lt;/font&gt;
       securities
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Fixed-rate investments
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,893,460
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,274,963
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       344,691
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &amp;#160;
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   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
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   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
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   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Fair Value Measurement at December&amp;#160;31, 2010 Using&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Quoted Prices in&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant Other&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Active Markets for&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Observable&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unobservable&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Identical Assets&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Inputs&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Inputs&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Total Fair Value at&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 1)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 2)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 3)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31, 2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(US$)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Cash equivalents:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Time deposits
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,905,479
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,905,479
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       591,739
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Money market fund
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       993,047
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       993,047
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       150,461
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Short-term investments:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Held-to-maturity&lt;/font&gt;
       securities
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Fixed-rate investments
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       56,854
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Long-term investments&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Available-for-sale&lt;/font&gt;
       securities
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,760
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,898,526
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,298,574
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       802,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The following table presents a reconciliation for the
       Company&amp;#8217;s assets measured and recorded at fair value on a
       recurring basis, using significant unobservable inputs
       (Level&amp;#160;3)&amp;#160;for the year ended December&amp;#160;31, 2010
       (in&amp;#160;thousands):
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="84%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="3%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant Unobservable Inputs &lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 3)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(US$)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance at December&amp;#160;31, 2009
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Purchases
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,760
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Change in unrealized gain (loss) included in other comprehensive
       income
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance at December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,760
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Assets
       and liabilities measured at fair value on a nonrecurring
       basis&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company measures certain financial assets, including equity
       method investments and cost method investments, at fair value on
       a nonrecurring basis only if an impairment charge were to be
       recognized. The Company&amp;#8217;s non-financial assets, such as
       intangible assets, goodwill and fixed assets, would be measured
       at fair value only if they were determined to be
       &lt;font style="white-space: nowrap"&gt;other-than-temporarily&lt;/font&gt;
       impaired.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For the year ended December&amp;#160;31, 2010, the Company
       recognized an impairment loss on fixed assets, with a charge to
       earnings, based on the fair value measurement
       (Level&amp;#160;3)&amp;#160;on a non-recurring basis. The fair value was
       determined using a discounted cash flow model under income
       approach based on future revenues and operating costs, using
       internal projections. The impairment charge amounted to
       RMB12.40&amp;#160;million (US$1.88&amp;#160;million) for the year ended
       December&amp;#160;31, 2010, which resulted from reduced use of
       certain capitalized internal-use software due to changes in
       operations.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:FairValueDisclosuresTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Note -->
  <us-gaap:ScheduleOfSubsequentEventsTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 19 - us-gaap:ScheduleOfSubsequentEventsTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="5%"&gt;&lt;/td&gt;
       &lt;td width="95%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;19.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;SUBSEQUENT
       EVENTS&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       On January&amp;#160;31, 2011, the Company entered into agreements
       with NTT DOCOMO, INC. (&amp;#8220;DCM&amp;#8221;), pursuant to which the
       parties agreed to establish a joint venture to operate mobile
       value-added telecommunications services and provide multiple
       categories of digital content. According to the agreements, DCM
       will subscribe for new ordinary shares in the new joint venture
       in two installments in 2011, with a total consideration of
       US$22.50&amp;#160;million. The
   Company and DCM will ultimately hold 80% and 20% of the equity
       interest in the new joint venture respectively, upon the
       completion of the ordinary shares subscription.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       On February&amp;#160;28, 2011, the Company entered into agreements
       with ANJUKE INC. (&amp;#8220;ANJUKE&amp;#8221;), a company incorporated
       and existing under the laws of the Cayman Islands, pursuant to
       which the Company agreed to subscribe for 1,981,378
       series&amp;#160;C preferred shares of ANJUKE with a total cash
       consideration of US$23.0&amp;#160;million. The Company will hold 5%
       of equity interest in ANJUKE on an as-converted basis and
       account for the investment under the cost method upon the
       completion of the preferred shares subscription.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:ScheduleOfSubsequentEventsTextBlock>
  <!-- End Block Tagged Note -->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note1_accounting_policy_table1-->
  <us-gaap:ConsolidationPolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note1_accounting_policy_table1 - us-gaap:ConsolidationPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The consolidated financial statements include the financial
       statements of the Company, its subsidiaries and VIEs in which
       the Company holds all the variable interests of VIEs through
       Baidu Online. All inter-company transactions and balances
       between the Company, its subsidiaries and VIEs are eliminated
       upon consolidation. The Company has included the results of
       operations of acquired businesses from the respective dates of
       acquisition.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:ConsolidationPolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note1_accounting_policy_table1-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note1_accounting_policy_table2-->
  <bidu:UseOfEstimatesPolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note1_accounting_policy_table2 - bidu:UseOfEstimatesPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The preparation of financial statements in conformity with
       accounting principles generally accepted in the United States
       requires management to make estimates and assumptions that
       affect the reported amounts of assets and liabilities and
       disclosures of contingent assets and liabilities at the date of
       the financial statements and the reported amounts of revenues
       and expenses during the period. Management evaluates estimates,
       including those
   related to the accounts receivable allowances, fair values of
       options to purchase the Company&amp;#8217;s ordinary shares, fair
       values of certain equity investments, and deferred tax valuation
       allowance, among others. Management bases the estimates on
       historical experience and on various other assumptions that are
       believed to be reasonable, the results of which form the basis
       for making judgments about the carrying values of assets and
       liabilities. Actual results could differ from these estimates.
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:UseOfEstimatesPolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note1_accounting_policy_table2-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table1-->
  <us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table1 - us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s functional currency is the US$. The
       Company&amp;#8217;s subsidiaries and VIEs determine their functional
       currencies based on the criteria of ASC subtopic
       &lt;font style="white-space: nowrap"&gt;830-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;830-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Foreign Currency Matters: Overall&lt;/i&gt;, and have determined
       their functional currencies to be their respective local
       currency. The Company uses the RMB as its reporting currency.
       The Company uses the average exchange rate for the year and the
       exchange rate at the balance sheet date to translate its
       operating results and financial position, respectively. Any
       translation gains (losses) are recorded in accumulated other
       comprehensive income (loss) as a component of shareholders&amp;#8217;
       equity. Transactions denominated in foreign currencies are
       translated into the functional currency at the exchange rates
       prevailing on the transaction dates. Assets and liabilities
       denominated in foreign currencies are translated into the
       functional currency at the exchange rates prevailing at the
       balance sheet date. Exchange gains and losses are included in
       the consolidated statements of income as a component of other
       income.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table1-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table2-->
  <us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table2 - us-gaap:CashAndCashEquivalentsPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Cash
       and Cash Equivalents&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Cash and cash equivalents are stated at cost, which approximates
       fair value, and primarily consist of cash and investments in
       interest bearing demand deposit accounts, time deposits, highly
       liquid investments and money market funds. All highly liquid
       investments with original maturities of three months or less
       from the date of purchase are classified as cash equivalents.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Restricted
       Cash&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Restricted cash consists of the cash balances deposited by the
       customers of the Company&amp;#8217;s
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In 2008, the Company introduced an
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform and an online payment platform which enables
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       merchants and customers to send and receive payments online.
       Cash balances deposited by the customers of the Company&amp;#8217;s
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform are considered restricted because they cannot be used
       for the operations of the Group or any other purpose not
       designated by customers. When customers fund their accounts in
   the
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform using their bank accounts, the deposited balance is
       included in the Company&amp;#8217;s bank account until customers
       either use the cash to settle their online transactions or
       withdraw the cash.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table2-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table3-->
  <us-gaap:InvestmentPolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table3 - us-gaap:InvestmentPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Short-Term
       Investments&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       All highly liquid investments with original maturities of
       greater than three months, but less than 12&amp;#160;months, are
       classified as short-term investments which are stated at their
       approximate fair value. The Company accounts for short-term
       investments in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;320-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;320-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Investments&amp;#160;&amp;#8212; Debt and Equity Securities: Overall.
       &lt;/i&gt;The Company classifies the short-term investments in debt
       and equity securities as
       &lt;font style="white-space: nowrap"&gt;&amp;#8220;held-to-maturity&amp;#8221;,&lt;/font&gt;
       &amp;#8220;trading&amp;#8221; or
       &lt;font style="white-space: nowrap"&gt;&amp;#8220;available-for-sale&amp;#8221;,&lt;/font&gt;
       whose classification determines the respective accounting
       methods stipulated by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;320-10.&lt;/font&gt;
       Dividend and interest income, including amortization of the
       premium and discount arising at acquisition, for all categories
       of investments in securities are included in earnings. Any
       realized gains or losses on the sale of the short-term
       investments are determined on a specific identification method,
       and such gains and losses are reflected in the consolidated
       statements of income.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The securities that the Company has positive intent and ability
       to hold to maturity are classified as
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities and stated at amortized cost. For individual
       securities classified as
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities, the Company evaluates whether a decline in fair
       value below the amortized cost basis is other than temporary in
       accordance with the Company&amp;#8217;s policy and
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;320-10.&lt;/font&gt;
       If the Company concludes that it does not intend or is not
       required to sell an impaired debt security before the recovery
       of its amortized cost basis, the impairment is considered
       temporary and the
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities continue to be recognized at the amortized costs.
       When the Company intends to sell an impaired debt security or it
       is more likely than not that it will be required to sell prior
       to recovery of its amortized cost basis, an
       &lt;font style="white-space: nowrap"&gt;other-than-temporary&lt;/font&gt;
       impairment is deemed to have occurred. In these instances, the
       &lt;font style="white-space: nowrap"&gt;other-than-temporary&lt;/font&gt;
       impairment loss is recognized in the consolidated statements of
       income equal to the entire excess of the debt security&amp;#8217;s
       amortized cost basis over its fair value at the balance sheet
       date of the reporting period for which the assessment is made.
       When the Company does not intend to sell an impaired debt
       security and it is more likely than not that it will not be
       required to sell prior to recovery of its amortized cost basis,
       the Company must determine whether or not it will recover its
       amortized cost basis. If the Company concludes that it will not,
       an
       &lt;font style="white-space: nowrap"&gt;other-than-temporary&lt;/font&gt;
       impairment exists and that portion of the credit loss is
       recognized in the consolidated statements of income, while the
       portion of loss related to all other factors is recognized in
       other comprehensive income.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The securities that are bought and held principally for the
       purpose of selling them in the near term are classified as
       trading securities. Unrealized holding gains and losses for
       trading securities are included in earnings.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Investments not classified as trading or as
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       are classified as
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities.
       &lt;font style="white-space: nowrap"&gt;Available-for-sale&lt;/font&gt;
       investment is reported at fair value, with unrealized gains and
       losses recorded in accumulated other comprehensive income in
       shareholders&amp;#8217; equity. Realized gains or losses are charged
       to earnings during the period in which the gain or loss is
       realized. An impairment loss on the
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       debt securities would be recognized in the consolidated
       statements of income when the decline in value is determined to
       be
       &lt;font style="white-space: nowrap"&gt;other-than-temporary.&lt;/font&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Long-term
       Investments&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s long-term investments consist of cost method
       investments, equity method investments and
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;325-20&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;325-20&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Investments-Other: Cost Method Investments&lt;/i&gt;, for
       investments in an investee over which the Company does not have
       significant influence, the Company carries the investment at
       cost and only adjusts for
       &lt;font style="white-space: nowrap"&gt;other-than-temporary&lt;/font&gt;
       declines in fair value and distributions of earnings. The
   management regularly evaluates the impairment of the cost method
       investments based on performance and financial position of the
       investee as well as other evidence of market value. Such
       evaluation includes, but is not limited to, reviewing the
       investee&amp;#8217;s cash position, recent financing, projected and
       historical financial performance, cash flow forecasts and
       financing needs. An impairment loss is recognized in the
       consolidated statements of income equal to the excess of the
       investment&amp;#8217;s cost over its fair value at the balance sheet
       date of the reporting period for which the assessment is made.
       The fair value would then become the new cost basis of
       investment.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Investments in entities in which the Company can exercise
       significant influence but does not own a majority equity
       interest or control are accounted for using the equity method of
       accounting in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;323-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;323-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Investments-Equity Method and Joint Ventures: Overall&lt;/i&gt;.
       Under the equity method, the Company initially records its
       investment at cost and adjusts the carrying amount of the
       investment to recognize the Company&amp;#8217;s proportionate share
       of each equity investee&amp;#8217;s net income or loss into
       consolidated statements of income after the date of acquisition.
       The difference between the cost of the equity investee and the
       amount of the underlying equity in the net assets of the equity
       investee is recognized as equity method goodwill included in
       equity method investment on the consolidated balance sheets. The
       Company evaluates the equity method investments for impairment
       under
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;323-10.&lt;/font&gt;
       An impairment loss on the equity method investments is
       recognized in the consolidated statements of income when the
       decline in value is determined to be
       &lt;font style="white-space: nowrap"&gt;other-than-temporary.&lt;/font&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s long-term investments in
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities are the investments which are neither classified as
       cost method investments nor equity method investments. In
       accordance with
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;320-10,&lt;/font&gt;
       &lt;i&gt;Investments&amp;#160;&amp;#8212; Debt and Equity Securities: Overall,
       &lt;/i&gt;&lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities are reported at fair value, with unrealized gains and
       losses recorded in accumulated other comprehensive income in
       shareholders&amp;#8217; equity. Realized gains or losses are charged
       to earnings during the period in which the gain or loss is
       realized.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:InvestmentPolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table3-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table4-->
  <bidu:FairValueOfFinancialInstrumentsPolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table4 - bidu:FairValueOfFinancialInstrumentsPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Financial instruments include cash and cash equivalents,
       short-term investments, accounts receivable, accounts payable
       and accrued liabilities, customer advances and deposits,
       deferred revenue, deferred income and loans payable. The
       carrying amounts of these financial instruments except for loans
       payable approximate fair value because of their generally short
       maturities. The carrying amount of loans payable approximates
       its fair value due to the fact that the related interest rates
       are reset each year based on prevailing market interest rates.
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:FairValueOfFinancialInstrumentsPolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table4-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table5-->
  <us-gaap:ResearchDevelopmentAndComputerSoftwarePolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table5 - us-gaap:ResearchDevelopmentAndComputerSoftwarePolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Capitalization
       of Software Developed for Internal Use&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company has capitalized certain internal use software
       development costs in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;350-40&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;350-40&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Intangibles-Goodwill and Other: Internal-Use Software&lt;/i&gt;,
       amounting to RMB19.49&amp;#160;million, RMB12.59&amp;#160;million and
       RMB10.38&amp;#160;million (US$1.57&amp;#160;million) for the years ended
       December&amp;#160;31, 2008, 2009 and 2010, respectively. The Company
       capitalizes certain costs relating to software acquired,
       developed, or modified solely to meet the Company&amp;#8217;s
       internal requirements and for which there are no substantive
       plans to market the software. These costs mainly include payroll
       and payroll-related costs for employees who are directly
       associated with and who devote time to the internal-use software
       projects during the application development stage. Capitalized
       internal-use software costs are included in fixed assets, net.
       The amortization expense for capitalized software costs amounted
       to RMB3.44&amp;#160;million, RMB9.77&amp;#160;million and
       RMB8.86&amp;#160;million (US$1.34&amp;#160;million) for the years ended
       December&amp;#160;31, 2008, 2009 and 2010, respectively. The
       unamortized amount of capitalized internal use software
       development costs was RMB26.16&amp;#160;million and
       RMB15.28&amp;#160;million (US$2.32&amp;#160;million) as of
       December&amp;#160;31, 2009 and 2010, respectively.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Research
       and Development Expenses&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Research and development expenses consist primarily of
       personnel-related costs. The Company has expensed substantially
       all development costs included in the research and development
       of products and new functionality added to the existing products
       as incurred, except for certain internal-use software and
       certain core technologies with alternative future uses.
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:ResearchDevelopmentAndComputerSoftwarePolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table5-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table6-->
  <us-gaap:PropertyPlantAndEquipmentPolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table6 - us-gaap:PropertyPlantAndEquipmentPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Fixed assets are stated at cost less accumulated depreciation.
       Depreciation or amortization is recorded on a straight-line
       basis over the shorter of the estimated useful lives of the
       assets or the term of the related lease, as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="66%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="32%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=maindata --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 45&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building related facility, machinery and equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 15&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Computer equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
       &amp;#8212; 3 or 5&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Internal use software development costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 3&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
       &amp;#8212; 3 or 5&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vehicles
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Leasehold improvements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -13pt; margin-left: 13pt"&gt;
       &amp;#8212; over the shorter of lease terms or estimated useful lives
       of the assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Fixed assets have no estimated residual value except for the
       office building and its related facility, machinery and
       equipment, which have an estimated residual value of 4% of the
       cost.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Repair and maintenance costs are charged to expense as incurred,
       whereas the cost of renewals and betterments that extend the
       useful life of fixed assets are capitalized as additions to the
       related assets. Retirements, sales and disposals of assets are
       recorded by removing the cost and accumulated depreciation from
       the asset and accumulated depreciation accounts with any
       resulting gain or loss reflected in the consolidated statements
       of income.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       All direct and indirect costs that are related to the
       construction of fixed assets and incurred before the assets are
       ready for their intended use are capitalized as construction in
       progress. Construction in progress is transferred to specific
       fixed assets items and depreciation of these assets commences
       when they are ready for their intended use.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table6-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table7-->
  <us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table7 - us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Goodwill
       &lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Goodwill represents the excess of the purchase price over the
       fair value of the identifiable net assets acquired in a business
       combination. The Company assesses goodwill for impairment in
       accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;350-20&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;350-20&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Intangibles&amp;#160;&amp;#8212; Goodwill and Other: Goodwill&lt;/i&gt;,
       which requires that goodwill be tested for impairment at the
       reporting unit level at least annually and more frequently upon
       the occurrence of certain events, as defined by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;350-20.&lt;/font&gt;
       Baidu&amp;#8217;s chief operating decision maker only reviews the
       Company&amp;#8217;s discrete financials at its consolidated level and
       there are no segment managers who are held accountable by the
       Company&amp;#8217;s chief operating officer or anyone else, for
       operations, operating results, and planning for levels or
       components below the consolidated level. Accordingly, consistent
       with the management&amp;#8217;s operational perspective, the Company
       determines that it has only one reporting unit. Goodwill was
       tested for impairment in the annual impairment tests on December
       31 in each year using the two-step process required by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;350-20.&lt;/font&gt;
       First, the Company reviewed the carrying amount of the reporting
       unit compared to the &amp;#8220;fair value&amp;#8221; of the reporting
       unit based on quoted market prices of the ordinary shares. If
       the fair value of the reporting unit exceeds the carrying value
       of the reporting unit, goodwill is not impaired and the Company
       is not required to perform further testing. If the carrying
       value of the
   reporting unit exceeds the fair value of the reporting unit,
       then the Company must perform the second step of the impairment
       test in order to determine the implied fair value of the
       reporting unit&amp;#8217;s goodwill. That is, the Company would then
       prepare the discounted cash flow analyses. Such analyses are
       based on cash flow assumptions that are consistent with the
       plans and estimates being used to manage the business. An excess
       carrying value compared to fair value would indicate that
       goodwill may be impaired. Finally, if the Company determined
       that goodwill may be impaired, the implied fair value of the
       goodwill, as defined by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;350-20,&lt;/font&gt;
       would be compared to its carrying amount to determine the
       impairment loss, if any. There has been no impairment of
       goodwill in any of the years presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Intangible
       Assets &lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Intangible assets with finite lives are carried at cost less
       accumulated amortization. The land use right is amortized using
       a straight-line method over the shorter of its estimated
       economic life or the term of related land use right contract.
       All other intangible assets with finite lives are amortized
       using the straight-line method over the estimated economic life.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Intangible assets have weighted average useful lives from the
       date of purchase as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="87%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="11%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=maindata --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5.0&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customer relationships
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 4.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-competition agreements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 3.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Software
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Contract-based assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 2.3&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 9.6&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Land use right
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
       &amp;#8212; 50&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Intangible assets with an indefinite useful life are not
       amortized. There have been no impairment charges on the
       Company&amp;#8217;s intangible assets with finite useful lives in any
       of the years presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       If the intangible assets that are not being amortized are
       subsequently determined to have a finite useful life, the assets
       will be tested for impairment in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;350-30&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;350-30&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Intangibles-Goodwill and Other: General Intangibles Other
       than Goodwill&lt;/i&gt;, and then amortized prospectively over their
       estimated remaining useful lives and accounted for in the same
       manner as other intangible assets that are subject to
       amortization. Intangible assets with indefinite useful lives are
       tested for impairment annually or more frequently if events or
       changes in circumstances indicate that they might be impaired.
       There have been no impairment charges on the Company&amp;#8217;s
       intangible assets with indefinite useful lives in any of the
       years presented.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table7-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table8-->
  <us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table8 - us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company evaluates long-lived assets, such as fixed assets
       and purchased or internally developed intangible assets with
       finite lives, for impairment whenever events or changes in
       circumstances indicate the carrying value of an asset may not be
       recoverable in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;360-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;360-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Property, Plant and Equipment: Overall&lt;/i&gt;. When such events
       occur, the Company assesses the recoverability of the assets
       group based on the undiscounted future cash flow the assets
       group is expected to generate and recognizes an impairment loss
       when estimated undiscounted future cash flow expected to result
       from the use of the assets group plus net proceeds expected from
       disposition of the assets group, if any, is less than the
       carrying value of the assets group. If the Company identifies an
       impairment, the Company reduces the carrying amount of the
       assets group to its estimated fair value based on a discounted
       cash flow approach or, when available and appropriate, to
       comparable market values. The Company uses estimates and
       judgments in its impairment tests and if different estimates or
       judgments had been utilized, the timing or the amount of any
       impairment charges could be different. Asset groups to be
       disposed of would be reported at the lower of the carrying
       amount or fair value less costs to sell, and no longer
   depreciated. The assets and liabilities of a disposal group
       classified as held for sale would be presented separately in the
       appropriate asset and liability sections of the balance sheet.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table8-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table9-->
  <us-gaap:ReceivablesPolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table9 - us-gaap:ReceivablesPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Accounts receivable are recognized and carried at original
       invoiced amount less an allowance for any potential
       uncollectible amounts. An estimate for doubtful debts is made
       when collection of the full amount is no longer probable. Bad
       debts are written off as incurred. The Company generally does
       not require collateral from its customers.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company maintains allowances for doubtful accounts for
       estimated losses resulting from the failure of customers to make
       payments on time. The Company reviews the accounts receivable on
       a periodic basis and makes general and specific allowances when
       there is doubt as to the collectibility of individual balances.
       In evaluating the collectibility of individual receivable
       balances, the Company considers many factors, including the age
       of the balance, the customer&amp;#8217;s historical payment history,
       its current credit-worthiness and current economic trends.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:ReceivablesPolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table9-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table10-->
  <us-gaap:RevenueRecognitionPolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table10 - us-gaap:RevenueRecognitionPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company recognizes revenue based on the following principles:
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Online
       marketing services&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (1)&amp;#160;Auction-based
       &lt;font style="white-space: nowrap"&gt;pay-for-performance&lt;/font&gt;
       service
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s auction-based
       &lt;font style="white-space: nowrap"&gt;pay-for-performance&lt;/font&gt;
       (&amp;#8220;P4P&amp;#8221;) platform enables a customer to place its
       website link and related description on the Company&amp;#8217;s
       search result list. The customers make bids on keywords based on
       how much they are willing to pay for each click to their
       listings in the search results listed on the Company&amp;#8217;s
       website and the relevance between the keywords and the
       customer&amp;#8217;s businesses. Internet users&amp;#8217; search of the
       keyword will trigger the display of the listings. The ranking of
       the customer&amp;#8217;s listing depends on both the bidding price
       and the listing&amp;#8217;s relevance to the keyword searched.
       Customer pays the Company only when a user clicks on one of its
       website links. Revenue is recognized when a user clicks on one
       of the customer-sponsored website links, as there is persuasive
       evidence of an arrangement, the fee is fixed or determinable and
       collection is reasonably assured, as prescribed by ASC subtopic
       &lt;font style="white-space: nowrap"&gt;605-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue Recognition: Overall&lt;/i&gt;.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For certain P4P customers engaged through direct sales, the
       Company may provide certain value-added consultative support
       services to help its customers to better utilize its P4P online
       marketing system. Fees for such services are recognized as
       revenue on a pro-rata basis over the contracted service period.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (2)&amp;#160;Other performance-based online marketing services
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       To the extent the Company provides online marketing services
       based on performance criteria other than click-throughs, such as
       the number of telephone calls brought to its customers, the
       number of users registered with its customers, or the number of
       minimum click-throughs, revenue is recognized when the specified
       performance criteria are met together with satisfaction of other
       applicable revenue recognition criteria as prescribed by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;605-10.&lt;/font&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (3)&amp;#160;Time-based online advertising services
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For time-based online advertising services such as text links,
       banners, or other forms of graphical advertisements, the Company
       recognizes revenue, in accordance with
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;605-10,&lt;/font&gt;
       on a pro-rata basis over the contractual term commencing on the
       date the customer&amp;#8217;s advertisement is displayed in a
       specified webpage. For certain time-based contractual
       agreements, the Company may also provide certain performance
       guarantees, in which cases revenue is recognized at the later of
       the completion of the time commitment or performance guarantee.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (4)&amp;#160;Online marketing services involving Baidu Union
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Baidu Union is the program through which the Company expands
       distribution of its customers&amp;#8217; sponsored links or
       advertisements by leveraging traffic of the Baidu Union
       members&amp;#8217; internet properties. The Company makes payments to
       Baidu Union members for acquisition of traffic. The Company
       recognizes gross revenue for the amount of fees it receives from
       its customers. Payments made to Baidu Union members are included
       in cost of revenues as traffic acquisition costs.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (5)&amp;#160;Barter transactions
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company engages in barter transactions from time to time and
       in such situations follows the guidance set forth in ASC
       subtopic
       &lt;font style="white-space: nowrap"&gt;845-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;845-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Nonmonetary Transactions: Overall&lt;/i&gt;. While nonmonetary
       transactions are generally recorded at fair value, if such value
       is not determinable within reasonable limits, the transaction is
       recognized based on the carrying value of the product or
       services provided. The amount of revenues recognized for barter
       transactions was insignificant for each of the periods presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In addition, the Company recognized revenues for barter
       transactions involving advertising in accordance with ASC
       subtopic
       &lt;font style="white-space: nowrap"&gt;605-20&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-20&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue recognition: Services&lt;/i&gt;. However, neither the
       amount recognized nor the volume of such transactions qualified
       for income recognition was material for any of the periods
       presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In certain instances, the Company may be granted equity
       instruments in exchange for services. In accordance with ASC
       subtopic
       &lt;font style="white-space: nowrap"&gt;505-50&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;505-50&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Equity: Equity-based Payments to Non-Employees&lt;/i&gt;, if the
       Company provides services in exchange for equity instruments,
       the Company measures the fair value of those equity instruments
       for revenue recognition purposes as of the earlier of either of
       the following dates:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="4%"&gt;&lt;/td&gt;
       &lt;td width="2%"&gt;&lt;/td&gt;
       &lt;td width="94%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       The date the parties come to a mutual understanding of the terms
       of the equity-based compensation arrangement and a commitment
       for performance by the Company to earn the equity instruments is
       reached;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 6pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       The date at which the Company&amp;#8217;s performance necessary to
       earn the equity instruments is completed.
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       If, as of the measurement date, the fair value of the equity
       instruments received is not determinable within reasonable
       limits, the transaction is recognized based on the fair value of
       the services provided. If the fair value of both the equity
       instruments received and the services provided cannot be
       determined, no revenue is recognized for the services provided
       and the equity instrument received is recorded at zero carrying
       value. The amount of revenues recognized for such transactions
       was insignificant in each of the years presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (6)&amp;#160;Other revenue recognition related policies
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       If a sales arrangement involves multiple deliverables, and the
       arrangement is divided into separate units of accounting in
       accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;605-25&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-25&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue recognition: Multiple-Element Arrangements&lt;/i&gt;, the
       total revenue on such arrangement is allocated to the individual
       deliverables based on their relative fair values. If sufficient
       vendor-specific objective evidence of fair value does not exist
       for the allocation of revenue, the fee for the entire
       arrangement is recognized ratably over the term of the
       arrangement or upon the delivery of the last deliverable, when
       other revenue recognition criteria have been met.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company delivers some of its online marketing services to
       end customers through engaging third party distributors. In this
       context, the Company may provide cash incentives to
       distributors. The cash incentives are accounted for as reduction
       of revenue in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;605-50&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-50&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue recognition: Customer Payments and Incentives&lt;/i&gt;.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company provides sales incentives to customers to entitle
       customers to receive reductions in the price of the online
       marketing services by meeting certain cumulative consumption
       requirements. The Company accounts for these award credits
       granted to members in conjunction with a current sale of
       products or services as a multiple-element arrangement by
       analogizing to ASC
       &lt;font style="white-space: nowrap"&gt;605-25.&lt;/font&gt; The
       consideration allocated to the award credits, as deferred
       revenue is based on an assumption that the customer will
       purchase the minimum amount of future service necessary
   to obtain the maximum award credits available. The deferred
       revenue is recognized as revenue proportionately as the future
       services are delivered to the customer or when the loyalty
       points expire.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Cash received in advance from customers is recorded as customer
       advances and deposits. The unused cash balances remaining in
       customers&amp;#8217; accounts are included as a liability of the
       Company. Deferred revenue is recorded when services are provided
       before the other revenue recognition criteria set forth in
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;605-10&lt;/font&gt;
       are fulfilled.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company operates an online game platform, on which
       registered users could access games provided by online game
       developers. The rights and obligations of each party to the
       arrangement indicate that the Company is acting as an agent
       whereas the online game developer is the principal as a result
       of being the primary obligor in the arrangement. The Company
       recognizes the shared revenue, on a net basis, based on the
       ratios pre-determined with the online game developers when all
       the revenue recognition criteria set forth in
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;605-10&lt;/font&gt;
       are met, which is generally when the user purchases virtual
       currencies issued by the game developers through the
       Company&amp;#8217;s payment channel. The amount of revenues
       recognized was not significant in each of the years presented.
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:RevenueRecognitionPolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table10-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table11-->
  <us-gaap:CostOfSalesPolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table11 - us-gaap:CostOfSalesPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Cost of revenues consists primarily of business taxes and
       surcharges, traffic acquisition costs, bandwidth costs,
       depreciation, payroll and related costs of operations.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company incurs business taxes and surcharges in connection
       with the provision of online marketing services, technical and
       consultative service fees charged by Baidu Online to VIEs and
       other taxable services in the PRC. According to ASC subtopic
       &lt;font style="white-space: nowrap"&gt;605-45&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-45&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue Recognition: Principal Agent Considerations&lt;/i&gt;, the
       Company includes the business tax and surcharges incurred on its
       online marketing revenues in cost of revenues. The business tax
       and surcharges in cost of revenues for the years ended
       December&amp;#160;31, 2008, 2009 and 2010 were
       RMB200.09&amp;#160;million, RMB275.92&amp;#160;million and
       RMB504.85&amp;#160;million (US$76.49&amp;#160;million), respectively.
       Traffic acquisition costs represent the amounts paid or payable
       to Baidu Union members who direct search queries to the
       Company&amp;#8217;s websites or distribute the Company&amp;#8217;s
       customers&amp;#8217; paid links through their properties. These
       payments are primarily based on revenue sharing arrangements
       under which the Company pays its Baidu Union members a
       percentage of the fees it earns from its online marketing
       customers.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:CostOfSalesPolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table11-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table12-->
  <us-gaap:AdvertisingCostsPolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table12 - us-gaap:AdvertisingCostsPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Advertising expenses, primarily advertisements through various
       forms of media, are included in &amp;#8220;Selling, general and
       administrative expense&amp;#8221; in the consolidated statements of
       income and are expensed when incurred. Advertising expenses for
       the years ended December&amp;#160;31, 2008, 2009 and 2010 were
       RMB29.22&amp;#160;million, RMB77.80&amp;#160;million and
       RMB74.76&amp;#160;million (US$11.33&amp;#160;million), respectively.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:AdvertisingCostsPolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table12-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table13-->
  <us-gaap:OtherIncomeAndOtherExpenseDisclosureTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table13 - us-gaap:OtherIncomeAndOtherExpenseDisclosureTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Other income, net consists primarily of interest income,
       government subsidies, impairment of long-term investments and
       non-operating expenses. Interest income is mainly generated from
       bank deposits and other interest-earning financial assets and is
       recognized on an accrual basis. Other income, net primarily
       consists of financial subsidies received from provincial and
       local governments for operating a business in their
       jurisdictions and compliance with specific policies promoted by
       the local governments. During the years ended December&amp;#160;31,
       2008, 2009 and 2010, the Group received financial subsidies of
       RMB22.72&amp;#160;million, RMB42.50&amp;#160;million and
       RMB49.14&amp;#160;million (US$7.45&amp;#160;million), respectively, from
       various local PRC government authorities. There are no defined
       rules and regulations to govern the criteria necessary for
       companies to receive such benefits, and the amount of financial
       subsidy is determined at the discretion of the relevant
       government authorities. Such amounts are recorded as other
       income when received and there are no further conditions to be
       met before recognition.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:OtherIncomeAndOtherExpenseDisclosureTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table13-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table14-->
  <us-gaap:LeasePolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table14 - us-gaap:LeasePolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Leases have been classified as either capital or operating
       leases. Leases that transfer substantially all the benefits and
       risks incidental to the ownership of assets are accounted for as
       if there was an acquisition of an asset and incurrence of an
       obligation at the inception of the lease. All other leases are
       accounted for as operating leases wherein rental payments are
       expensed as incurred. The Company had no capital leases for the
       years ended December&amp;#160;31, 2008, 2009 and 2010.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:LeasePolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table14-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table15-->
  <us-gaap:IncomeTaxPolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table15 - us-gaap:IncomeTaxPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company recognizes income taxes under the liability method.
       Deferred income taxes are recognized for differences between the
       financial reporting and tax bases of assets and liabilities at
       enacted tax rates in effect for the years in which the
       differences are expected to reverse. The Company records a
       valuation allowance against the amount of deferred tax assets
       that it determines is not more likely than not being realized.
       The effect on deferred taxes of a change in tax rates is
       recognized in income in the period that includes the enactment
       date.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company adopted the provisions of ASC subtopic
       &lt;font style="white-space: nowrap"&gt;740-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;740-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Income Taxes: Overall&lt;/i&gt;, on January&amp;#160;1, 2007.
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;740-10&lt;/font&gt;
       clarified the accounting for uncertainty in income taxes by
       prescribing the recognition threshold a tax position is required
       to meet before being recognized in the financial statements. The
       Company has elected to classify interest and penalties related
       to an uncertain tax position (if and when required) as part of
       income tax expense in the consolidated statements of income. As
       of and for the years ended December&amp;#160;31, 2008, 2009 and
       2010, no unrecognized tax benefits or interest and penalties
       associated with uncertainty in income taxes have been recognized.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:IncomeTaxPolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table15-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table16-->
  <us-gaap:CompensationRelatedCostsPolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table16 - us-gaap:CompensationRelatedCostsPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company adopted ASC subtopic
       &lt;font style="white-space: nowrap"&gt;718-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;718-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Compensation-Stock Compensation: Overall&lt;/i&gt;, using the
       modified prospective transition approach from January&amp;#160;1,
       2006. Pursuant to ASC
       &lt;font style="white-space: nowrap"&gt;718-10,&lt;/font&gt; the
       Company recognized share-based compensation expense over the
       requisite service periods for any share-based awards granted
       after January&amp;#160;1, 2006 based on the fair values of all
       share-based awards on the dates of grant.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company has elected to recognize share-based compensation
       after the date of adoption of
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;718-10&lt;/font&gt;
       using the straight-line method for all share-based awards
       issued. Forfeitures have been estimated based on historical
       experience and periodically reviewed. Cancellation of an award
       accompanied by the concurrent grant of a replacement award is
       accounted for as a modification of the terms of the cancelled
       award (&amp;#8220;modification awards&amp;#8221;). The compensation costs
       associated with the modification awards are recognized if either
       the original vesting condition or the new vesting condition has
       been achieved. Such compensation costs cannot be less than the
       grant-date fair value of the original award. The incremental
       compensation cost is measured as the excess of the fair value of
       the replacement award over the fair value of the cancelled award
       at the cancellation date. Therefore, in relation to the
       modification awards, the Company recognizes share-based
       compensation over the vesting periods of the new options, which
       comprises, (1)&amp;#160;the amortization of the incremental portion
       of share-based compensation over the remaining vesting term and
       (2)&amp;#160;any unrecognized compensation cost of original award,
       using either the original term or the new term, whichever is
       higher for each reporting period.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company accounts for share awards issued to non-employees in
       accordance with the provisions of ASC subtopic
       &lt;font style="white-space: nowrap"&gt;505-50&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;505-50&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Equity: Equity-based Payments to Non-Employees&lt;/i&gt;. Under ASC
       &lt;font style="white-space: nowrap"&gt;505-50,&lt;/font&gt; the
       Company uses the Black-Scholes option pricing model method to
       measure the value of options granted to non-employees at each
       vesting date to determine the appropriate charge to share-based
       compensation.
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;718-10&lt;/font&gt;
       also requires share-based compensation to be presented in the
       same manner as cash compensation rather than as a separate line
       item.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:CompensationRelatedCostsPolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table16-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table17-->
  <us-gaap:EarningsPerSharePolicyTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table17 - us-gaap:EarningsPerSharePolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company computes earnings per Class&amp;#160;A and Class&amp;#160;B
       ordinary shares in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;260-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;260-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Earnings Per Share: Overall&lt;/i&gt;, using the two class method.
       Under the provisions of
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;260-10,&lt;/font&gt;
       basic net income per share is computed using the weighted
       average number of ordinary shares outstanding during the period
       except that it does not include unvested ordinary shares subject
       to repurchase or cancellation. Diluted net income per share is
       computed using the weighted average number of ordinary shares
       and, if dilutive, potential ordinary shares outstanding during
       the period. Potentially dilutive securities have been excluded
       from the computation of diluted net income per share if their
       inclusion is anti-dilutive. Potential ordinary shares consist of
       the incremental ordinary shares issuable upon the exercise of
       stock options, restricted shares subject to forfeiture, and
       contracts that may be settled in the Company&amp;#8217;s stock or
       cash. The dilutive effect of outstanding stock options and
       restricted shares is reflected in diluted earnings per share by
       application of the treasury stock method. The computation of the
       diluted net income per share of Class&amp;#160;A ordinary shares
       assumes the conversion of Class&amp;#160;B ordinary shares, while
       the diluted net income per share of Class&amp;#160;B ordinary shares
       does not assume the conversion of those shares.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The liquidation and dividend rights of the holders of the
       Company&amp;#8217;s Class&amp;#160;A and Class&amp;#160;B ordinary shares are
       identical, except with respect to voting. As a result, and in
       accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;260-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;260-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Earnings Per Share: Overall&lt;/i&gt;, the undistributed earnings
       for each year are allocated based on the contractual
       participation rights of the Class A and Class&amp;#160;B ordinary
       shares as if the earnings for the year had been distributed. As
       the liquidation and dividend rights are identical, the
       undistributed earnings are allocated on a proportionate basis.
       Further, as the conversion of Class&amp;#160;B ordinary shares is
       assumed in the computation of the diluted net income per share
       of Class&amp;#160;A ordinary shares, the undistributed earnings are
       equal to net income for that computation.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For the purposes of calculating the Company&amp;#8217;s basic and
       diluted earnings per Class&amp;#160;A and Class B ordinary shares,
       the ordinary shares relating to the options that were exercised
       are assumed to have been outstanding from the date of exercise
       of such options.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:EarningsPerSharePolicyTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table17-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table18-->
  <us-gaap:ConcentrationRiskDisclosureTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table18 - us-gaap:ConcentrationRiskDisclosureTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Concentration
       of credit risk&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Financial instruments that potentially subject the Company to
       significant concentration of credit risk primarily consist of
       cash and cash equivalents, restricted cash, short-term
       investments and accounts receivable. The Company has
       RMB8.20&amp;#160;billion (US$1.24&amp;#160;billion) in cash and cash
       equivalents, restricted cash and short-term investments. The
       Company has approximately RMB8.06&amp;#160;billion
       (US$1.22&amp;#160;billion) in cash, bank deposits and money market
       funds in the PRC, which constitute about 98.29% of total cash
       and cash equivalents and short-term investments. In the event of
       bankruptcy of one of the financial institutions in which the
       Company has deposits or investments, it may be unlikely to claim
       its deposits or investments back in full.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Accounts receivable are typically unsecured and derived from
       revenue earned from customers and agents in China, which are
       exposed to credit risk. The risk is mitigated by credit
       evaluations the Company performs on its customers and its
       ongoing monitoring process of outstanding balances. The Company
       maintains reserves for estimated credit losses and these losses
       have generally been within its expectations.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Business
       and economic risks&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company participates in a dynamic high technology industry
       and believes that changes in any of the following areas could
       have a material adverse effect on the Company&amp;#8217;s future
       financial position, results of operations or cash flows: changes
       in the overall demand for services and products; changes in
       business offerings; competitive pressures due to new entrants;
       advances and new trends in new technologies and industry
       standards; changes in bandwidth suppliers; changes in certain
       strategic relationships or customer relationships; regulatory
   considerations; copyright regulations; and risks associated with
       the Company&amp;#8217;s ability to attract and retain employees
       necessary to support its growth.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       No customer or any Baidu Union member generated greater than 10%
       of total revenues in any of the periods presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s operations could be adversely affected by
       significant political, economic and social uncertainties in the
       PRC.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Currency
       convertibility risk&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Substantially all of the Company&amp;#8217;s businesses are
       transacted in RMB, which is not freely convertible into foreign
       currencies. All foreign exchange transactions take place either
       through the People&amp;#8217;s Bank of China or other banks
       authorized to buy and sell foreign currencies at the exchange
       rates quoted by the People&amp;#8217;s Bank of China. Approval of
       foreign currency payments by the People&amp;#8217;s Bank of China or
       other regulatory institutions requires submitting a payment
       application form together with suppliers&amp;#8217; invoices,
       shipping documents and signed contracts.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Foreign
       currency exchange rate risk &lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s exposure to foreign currency exchange rate
       risk primarily relates to cash and cash equivalents and
       short-term investments denominated in the U.S.&amp;#160;dollar. The
       functional currency of the Company is US$, and the reporting
       currency is RMB. Since July&amp;#160;21, 2005, the RMB has been
       permitted to fluctuate within a narrow and managed band against
       a basket of certain foreign currencies. On June&amp;#160;19, 2010,
       the People&amp;#8217;s Bank of China announced the end of the
       RMB&amp;#8217;s de facto peg to US$, a policy which was instituted in
       late 2008 in the face of the global financial crisis, to further
       reform the RMB exchange rate regime and to enhance the
       RMB&amp;#8217;s exchange rate flexibility. The exchange rate floating
       bands will remain the same as previously announced in the
       inter-bank foreign exchange market. The depreciation of the US$
       against RMB was approximately 3.31% in 2010. Any significant
       revaluation of RMB may materially and adversely affect the
       Company&amp;#8217;s cash flows, revenues, earnings and financial
       position, and the value of, and any dividends payable on, the
       ADS in U.S.&amp;#160;dollars. As a result, an appreciation of RMB
       against the U.S.&amp;#160;dollar would result in foreign currency
       translation losses when translating the net assets of the
       Company from the U.S.&amp;#160;dollar into RMB.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The functional currency of the subsidiaries in Japan is Japanese
       Yen (&amp;#8220;JPY&amp;#8221;), and the reporting currency is RMB. During
       2010, JPY appreciated by approximately 10.23% against RMB. The
       appreciation of JPY against RMB results in foreign currency
       translation gains when translating the net assets into RMB.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For the years ended December&amp;#160;31, 2008, 2009 and 2010, the
       net foreign currency translation loss resulting from the
       translation from the respective functional currencies to the RMB
       reporting currency recorded in the Company&amp;#8217;s other
       comprehensive loss was RMB27.60&amp;#160;million,
       RMB3.96&amp;#160;million and RMB3.87&amp;#160;million
       (US$0.59&amp;#160;million), respectively.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:ConcentrationRiskDisclosureTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table18-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table19-->
  <bidu:DescriptionOfNewAccountingPronouncementsNotYetAdoptedTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table19 - bidu:DescriptionOfNewAccountingPronouncementsNotYetAdoptedTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In October 2009, the FASB issued ASU
       &lt;font style="white-space: nowrap"&gt;No.&amp;#160;2009-13&lt;/font&gt;
       (&amp;#8220;ASU
       &lt;font style="white-space: nowrap"&gt;2009-13&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Multiple-Deliverable Revenue Arrangements&lt;/i&gt;. ASU
       &lt;font style="white-space: nowrap"&gt;2009-13&lt;/font&gt;
       amends ASC
       &lt;font style="white-space: nowrap"&gt;sub-topic&lt;/font&gt;
       &lt;font style="white-space: nowrap"&gt;605-25&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-25&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue Recognition: Multiple-Element Arrangements&lt;/i&gt;,
       regarding revenue arrangements with multiple deliverables. This
       standard addresses how to determine whether an arrangement
       involving multiple deliverables contains more than one unit of
       accounting, and how the arrangement consideration should be
       allocated among the separate units of accounting. This standard
       establishes a selling price hierarchy for determining the
       selling price of a deliverable, which is based on:
       (a)&amp;#160;vendor-specific objective evidence;
       (b)&amp;#160;third-party evidence; or (c)&amp;#160;estimated selling
       price. This standard also eliminates the residual method of
       allocation and requires that arrangement consideration be
       allocated at the inception of the arrangement to all
       deliverables using the relative selling price method. In
       addition, this standard significantly expands required
       disclosures related to a vendor&amp;#8217;s multiple-deliverable
       revenue arrangements. This standard is
   effective for fiscal years beginning after June&amp;#160;15, 2010
       and to be applied retrospectively or prospectively for new or
       materially modified arrangements. In addition, early adoption is
       permitted. The Company will adopt ASU
       &lt;font style="white-space: nowrap"&gt;2009-13&lt;/font&gt;
       beginning January&amp;#160;1, 2011 and the Company is in the process
       of assessing the impact of the adoption of the standard on its
       consolidated financial statements.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In April 2010, the FASB issued ASU
       &lt;font style="white-space: nowrap"&gt;No.&amp;#160;2010-13&lt;/font&gt;
       (&amp;#8220;ASU
       &lt;font style="white-space: nowrap"&gt;2010-13&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Compensation-Stock Compensation (&amp;#8220;&lt;/i&gt;ASC 718&amp;#8221;):
       &lt;i&gt;Effect of Denominating the Exercise Price of a Share-Based
       Payment Award in the Currency of the Market in Which the
       Underlying Equity Security Trades&lt;/i&gt;. The objective of this
       standard is to address the classification of an employee
       share-based payment award with an exercise price dominated in
       the currency of a market in which the underlying equity security
       trades. ASC&amp;#160;718 provides guidance on the classification of
       a share-based payment award as either equity or liability. A
       share-based payment award that contains a condition that is not
       a market, performance, or service condition is required to be
       classified as a liability. ASU
       &lt;font style="white-space: nowrap"&gt;2010-13&lt;/font&gt;
       provide amendments to ASC&amp;#160;718 to clarify that an employee
       share-based payment award with an exercise price denominated in
       the currency of a market in which a substantial portion of the
       entity&amp;#8217;s equity securities trades should not be considered
       to contain a condition that is not a market, performance, or
       service condition. Therefore, an entity would not classify such
       an award as a liability if it otherwise qualifies as equity.
       Then amendments in this standard are effective for fiscal years,
       and interim periods within those fiscal years, beginning on or
       after December&amp;#160;31, 2010. Early application is permitted.
       The Company does not expect the adoption of ASU
       &lt;font style="white-space: nowrap"&gt;2010-13&lt;/font&gt; will
       have a material impact on its consolidated financial statements.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In December 2010, the FASB issued ASU
       &lt;font style="white-space: nowrap"&gt;No.&amp;#160;2010-28&lt;/font&gt;
       (&amp;#8220;ASU
       &lt;font style="white-space: nowrap"&gt;2010-28&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Intangibles&amp;#160;&amp;#8212; Goodwill and Other &lt;/i&gt;(&amp;#8220;ASC
       350&amp;#8221;): &lt;i&gt;When to Perform Step 2 of the Goodwill Impairment
       Test for Reporting Units with Zero or Negative Carrying
       Amounts&lt;/i&gt;. The objective of this standard is to address
       questions about entities with reporting units with zero or
       negative carrying amounts because some entities concluded that
       Step 1 of the test is passed in those circumstances because the
       fair value of their reporting unit will generally be greater
       than zero. The amendments in this standard modify Step 1 of the
       goodwill impairment test for reporting units with zero or
       negative carrying amounts. For those reporting units, an entity
       is required to perform Step 2 of the goodwill impairment test if
       it is more likely than not that a goodwill impairment exists.
       This standard is effective for fiscal years, and interim periods
       within those years, beginning after December&amp;#160;15, 2010.
       Early adoption is not permitted. The Company does not expect the
       adoption of ASU
       &lt;font style="white-space: nowrap"&gt;2010-28&lt;/font&gt; will
       have a material impact on its consolidated financial statements.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In December 2010, the FASB issued ASU
       &lt;font style="white-space: nowrap"&gt;No.&amp;#160;2010-29&lt;/font&gt;
       (&amp;#8220;ASU
       &lt;font style="white-space: nowrap"&gt;2010-29&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Disclosure of Supplementary Pro Forma Information for
       Business Combinations &lt;/i&gt;(&amp;#8220;ASC 805&amp;#8221;). The objective
       of this standard is to address diversity in practice about the
       interpretation of the pro forma revenue and earnings disclosure
       requirements for business combinations. This standard specifies
       that if a public entity presents comparative financial
       statements, the entity should disclose revenue and earnings of
       the combined entity as though the business combination(s) that
       occurred during the current year had occurred as of the
       beginning of the comparable prior annual reporting period only.
       This standard also expands the supplemental pro forma
       disclosures under ASC&amp;#160;805 to include a description of the
       nature and amount of material, nonrecurring pro forma
       adjustments directly attributable to the business combination
       included in the reported pro forma revenue and earnings. This
       standard is effective prospectively for business combinations
       for which the acquisition date is on or after the beginning of
       the first annual reporting period beginning on or after
       December&amp;#160;15, 2010. Early adoption is permitted. The Company
       does not expect the adoption of ASU
       &lt;font style="white-space: nowrap"&gt;2010-29&lt;/font&gt; will
       have a material impact on its consolidated financial statements.
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:DescriptionOfNewAccountingPronouncementsNotYetAdoptedTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table19-->
  <!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note12_accounting_policy_table1-->
  <us-gaap:ScheduleOfGuaranteeObligationsTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note12_accounting_policy_table1 - us-gaap:ScheduleOfGuaranteeObligationsTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company accounts for guarantees in accordance with ASC
       subtopic
       &lt;font style="white-space: nowrap"&gt;460-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;460-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Guarantees: Overall&lt;/i&gt;. Accordingly, the Company evaluates
       its guarantees to determine whether (a)&amp;#160;the guarantee is
       specifically excluded from the scope of
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;460-10,&lt;/font&gt;
       (b)&amp;#160;the guarantee is subject to
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;460-10&lt;/font&gt;
       disclosure requirements only, but not subject to the initial
       recognition and measurement provisions, or (c)&amp;#160;the
       guarantee is required to be recorded in the financial statements
       at fair value.
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:ScheduleOfGuaranteeObligationsTextBlock>
  <!-- End Block Tagged Accounting Policy: BIDU-20101231_note12_accounting_policy_table1-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note2_table1-->
  <bidu:PropertyPlantAndEquipmentUsefulLifeTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note2_table1 - bidu:PropertyPlantAndEquipmentUsefulLifeTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="66%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="32%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=maindata --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 45&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building related facility, machinery and equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 15&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Computer equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
       &amp;#8212; 3 or 5&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Internal use software development costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 3&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
       &amp;#8212; 3 or 5&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vehicles
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Leasehold improvements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -13pt; margin-left: 13pt"&gt;
       &amp;#8212; over the shorter of lease terms or estimated useful lives
       of the assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:PropertyPlantAndEquipmentUsefulLifeTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note2_table1-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note2_table2-->
  <bidu:FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note2_table2 - bidu:FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="87%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="11%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=maindata --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5.0&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customer relationships
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 4.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-competition agreements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 3.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Software
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Contract-based assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 2.3&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 9.6&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Land use right
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
       &amp;#8212; 50&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note2_table2-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note3_table1-->
  <us-gaap:HeldToMaturitySecuritiesTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note3_table1 - us-gaap:HeldToMaturitySecuritiesTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="43%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="9%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="9%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="18" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;As of December&amp;#160;31, 2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unrecognized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unrecognized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Amortized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Holding&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Holding&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Fair&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Fair&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Cost&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Gains&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Losses&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Short-term investments:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Held-to-maturity&lt;/font&gt;
       securities(1)
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 30pt"&gt;
       Fixed-rate investments
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,149
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       354
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,149
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       354
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="43%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="9%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="9%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="18" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;As of December&amp;#160;31, 2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
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   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
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   &amp;#160;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
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   &amp;#160;
   &lt;/td&gt;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unrecognized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
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   &amp;#160;
   &lt;/td&gt;
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       &lt;b&gt;Unrecognized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
   &lt;/td&gt;
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   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Amortized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Holding&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Holding&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Fair&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Fair&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Cost&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Gains&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Losses&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Short-term investments:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Held-to-maturity&lt;/font&gt;
       securities(1)
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 30pt"&gt;
       Fixed-rate investments
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       376,492
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,263
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       56,854
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       376,492
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,263
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       56,854
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 3pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="2%"&gt;&lt;/td&gt;
       &lt;td width="1%"&gt;&lt;/td&gt;
       &lt;td width="97%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr&gt;
       &lt;td align="right" valign="top"&gt;
       (1) &lt;/td&gt;
       &lt;td&gt;&lt;/td&gt;
       &lt;td valign="bottom"&gt;
       The Company&amp;#8217;s
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities are stated at amortized cost and the fair value is
       determined based on a discounted cash flow model using the
       discount curve of market interest rates.&lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;/div&gt;
</us-gaap:HeldToMaturitySecuritiesTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note3_table1-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note4_table1-->
  <us-gaap:ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note4_table1 - us-gaap:ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock--&gt;
   &lt;div align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="72%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Accounts receivable
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       170,625
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       299,123
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       45,322
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Less: Allowance for doubtful accounts
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (9,015
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (2,223
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (337
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       161,610
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       296,900
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,985
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note4_table1-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note4_table2-->
  <bidu:MovementsInAllowanceForDoubtfulAccountsRollForwardTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note4_table2 - bidu:MovementsInAllowanceForDoubtfulAccountsRollForwardTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="66%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="3%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance at the beginning of the year
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,581
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,561
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,015
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,366
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Amounts charged to (credited against) costs and expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,390
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,792
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,029
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Write-offs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (2,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance at the end of the year
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,561
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,015
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,223
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       337
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:MovementsInAllowanceForDoubtfulAccountsRollForwardTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note4_table2-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note5_table1-->
  <bidu:OtherAssetsCurrentTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note5_table1 - bidu:OtherAssetsCurrentTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="73%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Deposits
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13,736
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       22,832
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,460
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Advances to suppliers
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,965
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,913
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,260
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Prepaid expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,026
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       33,275
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,042
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Interest receivable
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,469
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,994
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       908
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Receivables from employees
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       52,118
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,014
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,790
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Receivables from service provider
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,614
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       682
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       103
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Other
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       139
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       944
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       143
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       91,067
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       103,654
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15,706
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
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   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
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   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:OtherAssetsCurrentTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note5_table1-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note6_table1-->
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   &lt;div align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
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       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
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       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Computer equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,128,844
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,956,642
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       296,461
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       363,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       391,895
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       59,378
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building related facility, machinery and equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       118,844
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       137,542
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       20,840
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Internal-use software development costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,925
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       37,022
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,609
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vehicles
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,020
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,829
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,035
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,687
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       82,431
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,490
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Leasehold improvements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       31,118
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       74,793
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       11,332
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Construction in progress
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15,637
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,797
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,242
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,764,273
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,701,951
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       409,387
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Less: Accumulated depreciation
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (766,716
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,079,539
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (163,567
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       997,557
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,622,412
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       245,820
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
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   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
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       &lt;td width="75%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
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       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="3%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance as of January 1
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       51,082
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       63,691
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,650
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Goodwill acquired
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,609
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Foreign currency translation adjustment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (5
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance as of December 31
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       63,691
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       63,686
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,649
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:ScheduleOfGoodwillTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note7_table1-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note7_table2-->
  <us-gaap:IntangibleAssetsDisclosureTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note7_table2 - us-gaap:IntangibleAssetsDisclosureTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="68%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;As of December&amp;#160;31, 2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Net&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Accumulated&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Amortization&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Finite-lived:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Land use right
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       97,611
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (5,043
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       92,568
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,825
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (14,567
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       258
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customer relationships
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       31,363
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (21,165
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-competition agreements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,115
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (936
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       179
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Software
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,616
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Contract-based assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       338
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (226
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       112
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,727
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (55
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,672
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       155,793
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (43,608
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       112,185
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Indefinite-lived:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,050
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,050
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       166,203
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (43,608
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       122,595
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="58%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;As of December&amp;#160;31, 2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Net&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Net&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Accumulated&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Amortization&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Finite-lived:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Land use right
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       97,611
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,995
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       90,616
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13,730
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,860
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (14,774
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       86
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customer relationships
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       31,408
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (26,870
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,538
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       687
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-competition agreements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,115
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,062
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       53
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Software
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,131
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (3,572
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,559
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,297
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Contract-based assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       338
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (281
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,727
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (248
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,479
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       224
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       159,190
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (53,802
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       105,388
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15,968
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Indefinite-lived:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,418
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,050
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,050
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       159
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,577
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       169,600
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (53,802
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       115,798
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       17,545
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:IntangibleAssetsDisclosureTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note7_table2-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note7_table3-->
  <bidu:IntangibleAssetsFutureAmortizationExpensesTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note7_table3 - bidu:IntangibleAssetsFutureAmortizationExpensesTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="85%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="2%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="2%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="2%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="2%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="3" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="3" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="7" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       For the year ending December&amp;#160;31,
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2011
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,944
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,204
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2012
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,455
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       827
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2013
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,488
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       680
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2014
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,166
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       480
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2015
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,815
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       427
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:IntangibleAssetsFutureAmortizationExpensesTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note7_table3-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note8_table1-->
  <bidu:AccountsPayableAndAccruedLiabilitiesCurrentTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note8_table1 - bidu:AccountsPayableAndAccruedLiabilitiesCurrentTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="69%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Accrued payroll and welfare
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       95,412
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       150,160
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       22,752
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Accrued operating expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       162,963
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       297,248
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       45,038
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Tax payable
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       147,656
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       295,432
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,762
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Distributors&amp;#8217; deposits
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,971
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,431
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,126
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Purchase of fixed assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       144,214
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       277,669
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42,071
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Traffic acquisition costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       109,305
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       133,864
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       20,282
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Bandwidth costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       16,417
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,488
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,225
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Professional expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       19,420
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,937
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,930
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customers&amp;#8217; deposits on
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       19,513
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       38,278
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,800
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Others
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30,990
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,264
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,676
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       749,861
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,317,771
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       199,662
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:AccountsPayableAndAccruedLiabilitiesCurrentTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note8_table1-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note9_table1-->
  <bidu:IncomeLossBeforeIncomeTaxesByJurisdictionTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note9_table1 - bidu:IncomeLossBeforeIncomeTaxesByJurisdictionTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="55%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,360,326
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,907,575
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,321,910
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       654,834
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (196,147
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (224,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (260,747
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (39,507
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,164,179
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,683,121
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,061,163
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       615,327
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:IncomeLossBeforeIncomeTaxesByJurisdictionTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note9_table1-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note9_table2-->
  <bidu:ComponentsOfIncomeTaxTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note9_table2 - bidu:ComponentsOfIncomeTaxTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="60%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Current income tax
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       129,885
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       222,778
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       616,994
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       93,483
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Income tax refund due to reduced transitional tax rate
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (13,923
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,625
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,004
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Deferred income tax benefit
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (58,553
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (62,308
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (129,415
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (19,608
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Valuation allowance
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,739
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       51,470
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       55,041
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,340
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       116,071
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       198,017
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       535,995
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       81,211
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:ComponentsOfIncomeTaxTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note9_table2-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note9_table3-->
  <bidu:IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note9_table3 - bidu:IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="57%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
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   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Expected taxation at PRC EIT statutory rate
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       291,045
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       420,780
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,015,329
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       153,837
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Effect of differing tax rates in different jurisdictions
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,533
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,101
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,416
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,275
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Permanent differences&amp;#160;&amp;#8212; non-taxable income
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (2,121
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,640
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (733
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (111
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Permanent differences&amp;#160;&amp;#8212; non-deductible expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,703
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,001
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,935
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,656
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Tax incentives relating to R&amp;#038;D expenditures
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (17,848
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (9,125
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (22,925
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (3,473
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Effect of tax exemption and reduction inside PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (205,980
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (258,647
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (533,802
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (80,879
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Income tax refund due to overpaid provisional tax
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (13,923
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,625
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,004
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Addition of under-provided EIT for previous years
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,359
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,570
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Addition to valuation allowance
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,739
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       51,470
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       55,041
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,340
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Taxation for the year
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       116,071
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       198,017
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       535,995
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       81,211
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Effective tax rate
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9.97
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       %
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       11.76
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       %
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13.20
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       %
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13.20
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       %
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Basic earnings per share for Class&amp;#160;A and Class&amp;#160;B
       ordinary shares effect of tax exemptions and reductions inside
       the PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6.02
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7.48
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.34
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2.32
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note9_table3-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note9_table4-->
  <bidu:ComponentsOfDeferredTaxAssetsTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note9_table4 - bidu:ComponentsOfDeferredTaxAssetsTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="69%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Provision for doubtful receivables
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,103
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,964
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       298
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Fixed assets depreciation
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       37,800
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       41,089
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,225
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Net operating loss carry-forward
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       117,964
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       173,644
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,310
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Accrued expenses, payroll and others
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,007
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       80,592
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,211
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Deferred tax assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       167,874
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       297,289
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       45,044
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Valuation allowance
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (124,918
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (179,959
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (27,267
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Deferred tax assets, net
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42,956
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       117,330
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       17,777
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:ComponentsOfDeferredTaxAssetsTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note9_table4-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note10_table1-->
  <bidu:LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note10_table1 - bidu:LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="83%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Principal Amount&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Due Date&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       July&amp;#160;30, 2012
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       23,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,485
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       October&amp;#160;30, 2012
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       23,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,485
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       January&amp;#160;30, 2013
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       23,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,485
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       April&amp;#160;30, 2013
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       17,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,575
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       86,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13,030
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note10_table1-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note12_table1-->
  <us-gaap:OperatingLeasesOfLesseeDisclosureTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note12_table1 - us-gaap:OperatingLeasesOfLesseeDisclosureTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
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       &lt;td width="81%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
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       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
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   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2011
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       259,927
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       39,383
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2012
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       171,275
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,951
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2013
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       151,748
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       22,992
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2014
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       111,659
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       16,918
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2015
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       75,457
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       11,433
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Thereafter
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       79,749
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,083
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       849,815
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       128,760
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:OperatingLeasesOfLesseeDisclosureTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note12_table1-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note13_table1-->
  <bidu:RetainedEarningsAccumulatedDeficitTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note13_table1 - bidu:RetainedEarningsAccumulatedDeficitTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="65%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       PRC statutory reserve funds
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       187,675
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       238,107
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       36,077
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Unreserved retained earnings
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,252,854
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,727,590
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,019,332
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,440,529
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,965,697
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,055,409
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:RetainedEarningsAccumulatedDeficitTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note13_table1-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note14_table1-->
  <bidu:EarningsPerShareForClassaAndClassBOrdinarySharesAndEarningsPerAdsTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note14_table1 - bidu:EarningsPerShareForClassaAndClassBOrdinarySharesAndEarningsPerAdsTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="36%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=07 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=07 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=07 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=07 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=08 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=08 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=08 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=08 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=09 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=09 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=09 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=09 type=hang1 --&gt;
   &lt;/tr&gt;
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   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 7pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="30" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 7pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 7pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class A&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class B&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class A&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class B&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class A&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class A&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class B&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class B&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 7pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
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   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per share&amp;#160;&amp;#8212; basic:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Numerator
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Allocation of undistributed earnings
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       772,330
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       275,778
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,107,191
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       377,913
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,690,712
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       407,683
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       834,456
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       126,433
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Weighted average ordinary shares outstanding
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,214,154
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,003,290
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,773,593
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,797,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator used for earnings per share
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,214,154
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,003,290
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,773,593
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,797,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per share&amp;#160;&amp;#8212; basic
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30.63
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30.63
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42.96
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42.96
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       101.28
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.35
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       101.28
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.35
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per share&amp;#160;&amp;#8212; diluted:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Numerator
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Allocation of undistributed earnings for diluted computation
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       765,509
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       282,599
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,107,067
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       378,037
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,693,365
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       408,085
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       831,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       126,031
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Reallocation of undistributed earnings as a result of conversion
       of Class&amp;#160;B to Class&amp;#160;A shares
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       282,599
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       378,037
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       831,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       126,031
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Allocation of undistributed earnings
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,048,108
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       282,599
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,485,104
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       378,037
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,525,168
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       534,116
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       831,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       126,031
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Weighted average ordinary shares outstanding
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,214,154
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,003,290
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,773,593
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,797,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Conversion of Class&amp;#160;B to Class&amp;#160;A ordinary shares
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,003,290
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,797,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Share-based awards
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       500,046
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       357,512
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       205,576
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       55,210
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       112,474
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       112,474
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       350
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       350
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator used for earnings per share
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,717,490
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360,802
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,776,366
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,852,408
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,917,835
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,917,835
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,239,257
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,239,257
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per share&amp;#160;&amp;#8212; diluted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30.19
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30.19
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42.70
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42.70
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       100.96
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.30
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       100.96
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.30
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per ADS:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator used for earnings per ADS&amp;#160;&amp;#8212; basic
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       252,141,540
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       257,735,930
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       265,664,540
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       265,664,540
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator used for earnings per ADS&amp;#160;&amp;#8212; diluted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       347,174,900
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       347,763,660
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       349,178,350
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       349,178,350
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per ADS&amp;#160;&amp;#8212; basic
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3.06
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4.30
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10.13
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1.53
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per ADS&amp;#160;&amp;#8212; diluted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3.02
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4.27
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10.10
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1.53
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
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   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:EarningsPerShareForClassaAndClassBOrdinarySharesAndEarningsPerAdsTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note14_table1-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note15_table1-->
  <bidu:EmployeeShareOptionAwardsOutstandingTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note15_table1 - bidu:EmployeeShareOptionAwardsOutstandingTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="52%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="10%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=maindata --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Weighted&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Average&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Aggregate&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Weighted&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Remaining&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Intrinsic&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Number of&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Average&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Contractual&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Value (US$)&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Share Option&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Shares&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Exercise Price&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Life (Years)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Outstanding, December&amp;#160;31, 2009
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       154,674
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$110.80
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2.56
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       46,469
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Granted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       23,729
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$610.08
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Exercised
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (59,068
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$92.00
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Forfeited/Cancelled
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (19,175
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$133.49
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Expired
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (985
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$17.95
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Outstanding, December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       99,175
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$237.99
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2.57
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       72,164
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vested and expected to vest at December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       94,655
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$232.69
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2.52
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       69,375
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Exercisable at December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       55,089
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$115.11
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1.4
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       46,836
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:EmployeeShareOptionAwardsOutstandingTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note15_table1-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note15_table2-->
  <bidu:EmployeeRestrictedShareAwardsNonvestedTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note15_table2 - bidu:EmployeeRestrictedShareAwardsNonvestedTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="77%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
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   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Weighted&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Average&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Number of&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Grant Date&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Restricted Shares&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Shares&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Fair Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Nonvested, December&amp;#160;31, 2009
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       47,694
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       224.34
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Granted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,390
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       701.15
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vested
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (37,312
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       220.09
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Forfeited
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (5,155
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       329.26
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Nonvested, December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       49,617
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       643.22
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:EmployeeRestrictedShareAwardsNonvestedTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note15_table2-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note15_table3-->
  <bidu:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note15_table3 - bidu:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="53%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="16%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=maindata --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="7%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=maindata --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="16%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=maindata --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Risk-free interest rate
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       1.74%&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;2.60%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       1.18%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       0.61%&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;1.13%
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Dividend yield
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Expected volatility range
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       63.52%&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;70.82%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       85.43%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       64.76%&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;69.70%
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Weighted average expected volatility
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       66.54%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       85.43%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       68.12%
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Expected life (in years)
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       1.63&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;2.64
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       2.65
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       2.65&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;2.66
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note15_table3-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note15_table4-->
  <us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
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   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="65%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Cost of revenues
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,542
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,374
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,302
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       955
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Selling, general and administrative
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       41,651
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       38,681
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       36,811
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,577
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Research and development
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       37,784
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       41,263
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       50,623
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,670
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Share-based compensation cost capitalized as part of internally
       used software in fixed assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,706
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,217
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       226
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       35
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       86,683
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       87,535
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       93,962
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,237
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note15_table4-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note17_table1-->
  <bidu:RevenuesByGeographicAreaTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note17_table1 - bidu:RevenuesByGeographicAreaTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="53%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Revenues:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,194,635
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,441,580
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,898,805
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,196,789
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Non-PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,617
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,196
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       16,269
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,465
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,198,252
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,447,776
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,915,074
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,199,254
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:RevenuesByGeographicAreaTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note17_table1-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note17_table2-->
  <bidu:LongLivedAssetsByGeographicAreaTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note17_table2 - bidu:LongLivedAssetsByGeographicAreaTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="67%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Long-lived assets:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,093,681
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,785,511
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       270,532
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Non-PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       49,720
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       45,872
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,950
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,143,401
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,831,383
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       277,482
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</bidu:LongLivedAssetsByGeographicAreaTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note17_table2-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note18_table1-->
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   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note18_table1 - us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="34%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="12%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="11%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Fair Value Measurement at December&amp;#160;31, 2009 Using&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Quoted Prices in&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant Other&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Active Markets for&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Observable&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unobservable&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Identical Assets&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Inputs&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Inputs&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Total Fair Value at&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 1)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 2)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 3)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31, 2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(US$)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Cash equivalents:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Time deposits
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,658,678
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,658,678
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       251,315
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Money market fund
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       234,782
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       234,782
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       35,573
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Short-term investments:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Held-to-maturity&lt;/font&gt;
       securities
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Fixed-rate investments
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,893,460
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,274,963
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       344,691
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
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   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
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   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
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   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
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   &lt;b&gt;
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
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       &lt;td width="34%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
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       &lt;td width="12%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
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       &lt;td width="11%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
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   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Fair Value Measurement at December&amp;#160;31, 2010 Using&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Quoted Prices in&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant Other&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Active Markets for&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Observable&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unobservable&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Identical Assets&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Inputs&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Inputs&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Total Fair Value at&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 1)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 2)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 3)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31, 2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
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   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(US$)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Cash equivalents:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Time deposits
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,905,479
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,905,479
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       591,739
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Money market fund
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       993,047
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       993,047
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       150,461
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Short-term investments:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Held-to-maturity&lt;/font&gt;
       securities
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Fixed-rate investments
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       56,854
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Long-term investments&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Available-for-sale&lt;/font&gt;
       securities
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,760
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,898,526
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,298,574
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       802,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note18_table1-->
  <!-- Begin Block Tagged Note Table: BIDU-20101231_note18_table2-->
  <us-gaap:FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock contextRef="Jan-01-2010_Dec-31-2010">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note18_table2 - us-gaap:FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="84%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="3%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant Unobservable Inputs &lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 3)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(US$)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance at December&amp;#160;31, 2009
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Purchases
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,760
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Change in unrealized gain (loss) included in other comprehensive
       income
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance at December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,760
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</us-gaap:FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock>
  <!-- End Block Tagged Note Table: BIDU-20101231_note18_table2-->
  <bidu:AccountsPayableAndAccruedLiabilitiesOtherCurrent contextRef="BalanceAsOf_31Dec2009" unitRef="CNY" decimals="-3">30990000</bidu:AccountsPayableAndAccruedLiabilitiesOtherCurrent>
  <bidu:AccountsPayableAndAccruedLiabilitiesOtherCurrent contextRef="BalanceAsOf_31Dec2010" unitRef="CNY" decimals="-3">57264000</bidu:AccountsPayableAndAccruedLiabilitiesOtherCurrent>
  <bidu:AccountsPayableAndAccruedLiabilitiesOtherCurrent contextRef="BalanceAsOf_31Dec2010" unitRef="USD" decimals="-3">8676000</bidu:AccountsPayableAndAccruedLiabilitiesOtherCurrent>
  <bidu:AllocationOfUndistributedEarningsForDilutedComputation contextRef="TwelveMonthsEnded_31Dec2008_Common_Class_A_Member" unitRef="CNY" decimals="-3">765509000</bidu:AllocationOfUndistributedEarningsForDilutedComputation>
  <bidu:AllocationOfUndistributedEarningsForDilutedComputation contextRef="TwelveMonthsEnded_31Dec2008_Common_Class_B_Member" unitRef="CNY" decimals="-3">282599000</bidu:AllocationOfUndistributedEarningsForDilutedComputation>
  <bidu:AllocationOfUndistributedEarningsForDilutedComputation contextRef="TwelveMonthsEnded_31Dec2009_Common_Class_B_Member" unitRef="CNY" decimals="-3">378037000</bidu:AllocationOfUndistributedEarningsForDilutedComputation>
  <bidu:AllocationOfUndistributedEarningsForDilutedComputation contextRef="TwelveMonthsEnded_31Dec2009_Common_Class_A_Member" unitRef="CNY" decimals="-3">1107067000</bidu:AllocationOfUndistributedEarningsForDilutedComputation>
  <bidu:AllocationOfUndistributedEarningsForDilutedComputation contextRef="TwelveMonthsEnded_31Dec2010_Common_Class_B_Member" unitRef="CNY" decimals="-3">831803000</bidu:AllocationOfUndistributedEarningsForDilutedComputation>
  <bidu:AllocationOfUndistributedEarningsForDilutedComputation contextRef="TwelveMonthsEnded_31Dec2010_Common_Class_B_Member" unitRef="USD" decimals="-3">126031000</bidu:AllocationOfUndistributedEarningsForDilutedComputation>
  <bidu:AllocationOfUndistributedEarningsForDilutedComputation contextRef="TwelveMonthsEnded_31Dec2010_Common_Class_A_Member" unitRef="CNY" decimals="-3">2693365000</bidu:AllocationOfUndistributedEarningsForDilutedComputation>
  <bidu:AllocationOfUndistributedEarningsForDilutedComputation contextRef="TwelveMonthsEnded_31Dec2010_Common_Class_A_Member" unitRef="USD" decimals="-3">408085000</bidu:AllocationOfUndistributedEarningsForDilutedComputation>
  <bidu:AmountOfNetAssetsOfEntitysPRCSubsidiariesAndVIEsRestrictedFromBeingTransferredToEntity contextRef="BalanceAsOf_31Dec2009" unitRef="CNY" decimals="-4">879430000</bidu:AmountOfNetAssetsOfEntitysPRCSubsidiariesAndVIEsRestrictedFromBeingTransferredToEntity>
  <bidu:AmountOfNetAssetsOfEntitysPRCSubsidiariesAndVIEsRestrictedFromBeingTransferredToEntity contextRef="BalanceAsOf_31Dec2010" unitRef="CNY" decimals="-7">1150000000</bidu:AmountOfNetAssetsOfEntitysPRCSubsidiariesAndVIEsRestrictedFromBeingTransferredToEntity>
  <bidu:AmountOfNetAssetsOfEntitysPRCSubsidiariesAndVIEsRestrictedFromBeingTransferredToEntity contextRef="BalanceAsOf_31Dec2010" unitRef="USD" decimals="-4">174590000</bidu:AmountOfNetAssetsOfEntitysPRCSubsidiariesAndVIEsRestrictedFromBeingTransferredToEntity>
  <bidu:AmountOtherEntitiesAgreeToPayToAcquireConvertiblePreferredSharesOfEquityMethodInvestee contextRef="BalanceAsOf_28Feb2010_Convertible_Preferred_Stock_Member" unitRef="USD" decimals="-4">1000000</bidu:AmountOtherEntitiesAgreeToPayToAcquireConvertiblePreferredSharesOfEquityMethodInvestee>
  <bidu:AmountOtherEntitiesAgreeToPayToAcquireConvertiblePreferredSharesOfEquityMethodInvestee contextRef="BalanceAsOf_28Feb2010_Redeemable_Convertible_Preferred_Stock_Member" unitRef="USD" decimals="-4">50000000</bidu:AmountOtherEntitiesAgreeToPayToAcquireConvertiblePreferredSharesOfEquityMethodInvestee>
  <bidu:ApplicableActualEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates contextRef="TwelveMonthsEnded_31Dec2009_Baidu_Times_Member" unitRef="Pure" decimals="3">0.075</bidu:ApplicableActualEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates>
  <bidu:ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates contextRef="TwelveMonthsEnded_31Dec2008_Baidu_China_Member" unitRef="Pure" decimals="2">0.09</bidu:ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates>
  <bidu:ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates contextRef="TwelveMonthsEnded_31Dec2009_Baidu_China_Member" unitRef="Pure" decimals="2">0.1</bidu:ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates>
  <bidu:ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates contextRef="TwelveMonthsEnded_31Dec2009_Baidu_Times_Member" unitRef="Pure" decimals="2">0.1</bidu:ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates>
  <bidu:ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates contextRef="TwelveMonthsEnded_31Dec2010_Baidu_China_Member" unitRef="Pure" decimals="2">0.11</bidu:ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates>
  <bidu:ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates contextRef="TwelveMonthsEnded_31Dec2010_Baidu_Times_Member" unitRef="Pure" decimals="2">0.11</bidu:ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates>
  <bidu:AppreciationOrDepreciationOfFunctionalCurrencyOfEntityAndItsSubsidiariesAndVIEsAgainstReportingCurrencyByPercentage contextRef="TwelveMonthsEnded_31Dec2010_Depreciation_Of_Entitys_Functional_Currency_U_S_Against_Reporting_Currency_R_M_B_Member" unitRef="Pure" decimals="4">0.0331</bidu:AppreciationOrDepreciationOfFunctionalCurrencyOfEntityAndItsSubsidiariesAndVIEsAgainstReportingCurrencyByPercentage>
  <bidu:AppreciationOrDepreciationOfFunctionalCurrencyOfEntityAndItsSubsidiariesAndVIEsAgainstReportingCurrencyByPercentage contextRef="TwelveMonthsEnded_31Dec2010_Appreciation_Of_Subsidiaries_In_Japans_Functional_Currency_J_P_Y_Against_Reporting_Currency_R_M_B_Member" unitRef="Pure" decimals="4">0.1023</bidu:AppreciationOrDepreciationOfFunctionalCurrencyOfEntityAndItsSubsidiariesAndVIEsAgainstReportingCurrencyByPercentage>
  <bidu:BandwidthCosts contextRef="BalanceAsOf_31Dec2009" unitRef="CNY" decimals="-3">16417000</bidu:BandwidthCosts>
  <bidu:BandwidthCosts contextRef="BalanceAsOf_31Dec2010" unitRef="CNY" decimals="-3">34488000</bidu:BandwidthCosts>
  <bidu:BandwidthCosts contextRef="BalanceAsOf_31Dec2010" unitRef="USD" decimals="-3">5225000</bidu:BandwidthCosts>
  <bidu:BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions contextRef="TwelveMonthsEnded_31Dec2008" unitRef="CNYEPS" decimals="2">6.02</bidu:BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions>
  <bidu:BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions contextRef="TwelveMonthsEnded_31Dec2009" unitRef="CNYEPS" decimals="2">7.48</bidu:BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions>
  <bidu:BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions contextRef="Jan-01-2010_Dec-31-2010" unitRef="CNYEPS" decimals="2">15.34</bidu:BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions>
  <bidu:BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions contextRef="Jan-01-2010_Dec-31-2010" unitRef="USDEPS" decimals="2">2.32</bidu:BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions>
  <bidu:CashBankDepositsAndMoneyMarketFundsInPRC contextRef="BalanceAsOf_31Dec2010" unitRef="CNY" decimals="-7">8060000000</bidu:CashBankDepositsAndMoneyMarketFundsInPRC>
  <bidu:CashBankDepositsAndMoneyMarketFundsInPRC contextRef="BalanceAsOf_31Dec2010" unitRef="USD" decimals="-7">1220000000</bidu:CashBankDepositsAndMoneyMarketFundsInPRC>
  <bidu:CashConsiderationByEntityForSubscriptionForPreferredSharesOfCostMethodInvestee contextRef="BalanceAsOf_28Feb2011_Anjuke_Member" unitRef="USD" decimals="-5">23000000</bidu:CashConsiderationByEntityForSubscriptionForPreferredSharesOfCostMethodInvestee>
  <bidu:CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares contextRef="TwelveMonthsEnded_31Dec2008" unitRef="CNY" decimals="-3">-68539000</bidu:CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares>
  <bidu:CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares contextRef="TwelveMonthsEnded_31Dec2008_Additional_Paid_In_Capital_Member" unitRef="CNY" decimals="-3">-68539000</bidu:CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares>
  <bidu:CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares contextRef="TwelveMonthsEnded_31Dec2009" unitRef="CNY" decimals="-3">79070000</bidu:CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares>
  <bidu:CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares contextRef="TwelveMonthsEnded_31Dec2009_Additional_Paid_In_Capital_Member" unitRef="CNY" decimals="-3">79070000</bidu:CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares>
  <bidu:CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares contextRef="Jan-01-2010_Dec-31-2010" unitRef="CNY" decimals="-3">0</bidu:CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares>
  <bidu:CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares contextRef="Jan-01-2010_Dec-31-2010" unitRef="USD" decimals="-3">0</bidu:CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares>
  <bidu:CurrencyTranslationRateForFinancialStatementsPresentation contextRef="BalanceAsOf_31Dec2010" unitRef="CNY" decimals="4">6.6</bidu:CurrencyTranslationRateForFinancialStatementsPresentation>
  <bidu:CurrencyTranslationRateForFinancialStatementsPresentation contextRef="BalanceAsOf_31Dec2010" unitRef="USD" decimals="2">1</bidu:CurrencyTranslationRateForFinancialStatementsPresentation>
  <bidu:CurrentRatioOfAdsToClassaOrdinaryShare contextRef="BalanceAsOf_12May2010">ten ADSs for one share</bidu:CurrentRatioOfAdsToClassaOrdinaryShare>
  <bidu:DeferredIncomeNoncurrent contextRef="BalanceAsOf_31Dec2009" unitRef="CNY" decimals="-3">0</bidu:DeferredIncomeNoncurrent>
  <bidu:DeferredIncomeNoncurrent contextRef="BalanceAsOf_31Dec2010" unitRef="CNY" decimals="-3">5000000</bidu:DeferredIncomeNoncurrent>
  <bidu:DeferredIncomeNoncurrent contextRef="BalanceAsOf_31Dec2010" unitRef="USD" decimals="-3">758000</bidu:DeferredIncomeNoncurrent>
  <bidu:DeferredIncomeTaxExpenseBenefitBeforeValuationAllowance contextRef="TwelveMonthsEnded_31Dec2008" unitRef="CNY" decimals="-3">-58553000</bidu:DeferredIncomeTaxExpenseBenefitBeforeValuationAllowance>
  <bidu:DeferredIncomeTaxExpenseBenefitBeforeValuationAllowance contextRef="TwelveMonthsEnded_31Dec2009" unitRef="CNY" decimals="-3">-62308000</bidu:DeferredIncomeTaxExpenseBenefitBeforeValuationAllowance>
  <bidu:DeferredIncomeTaxExpenseBenefitBeforeValuationAllowance contextRef="Jan-01-2010_Dec-31-2010" unitRef="CNY" decimals="-3">-129415000</bidu:DeferredIncomeTaxExpenseBenefitBeforeValuationAllowance>
  <bidu:DeferredIncomeTaxExpenseBenefitBeforeValuationAllowance contextRef="Jan-01-2010_Dec-31-2010" unitRef="USD" decimals="-3">-19608000</bidu:DeferredIncomeTaxExpenseBenefitBeforeValuationAllowance>
  <bidu:DeferredTaxAssetsFixedAssetsDepreciation contextRef="BalanceAsOf_31Dec2009" unitRef="CNY" decimals="-3">37800000</bidu:DeferredTaxAssetsFixedAssetsDepreciation>
  <bidu:DeferredTaxAssetsFixedAssetsDepreciation contextRef="BalanceAsOf_31Dec2010" unitRef="CNY" decimals="-3">41089000</bidu:DeferredTaxAssetsFixedAssetsDepreciation>
  <bidu:DeferredTaxAssetsFixedAssetsDepreciation contextRef="BalanceAsOf_31Dec2010" unitRef="USD" decimals="-3">6225000</bidu:DeferredTaxAssetsFixedAssetsDepreciation>
  <bidu:DepositsAssetsNonThirdPartiesCurrent contextRef="BalanceAsOf_31Dec2009" unitRef="CNY" decimals="-3">13736000</bidu:DepositsAssetsNonThirdPartiesCurrent>
  <bidu:DepositsAssetsNonThirdPartiesCurrent contextRef="BalanceAsOf_31Dec2010" unitRef="CNY" decimals="-3">22832000</bidu:DepositsAssetsNonThirdPartiesCurrent>
  <bidu:DepositsAssetsNonThirdPartiesCurrent contextRef="BalanceAsOf_31Dec2010" unitRef="USD" decimals="-3">3460000</bidu:DepositsAssetsNonThirdPartiesCurrent>
  <bidu:DepreciationOfFixedAssetsExcludingLongTermComputerParts contextRef="TwelveMonthsEnded_31Dec2008" unitRef="CNY" decimals="-4">259640000</bidu:DepreciationOfFixedAssetsExcludingLongTermComputerParts>
  <bidu:DepreciationOfFixedAssetsExcludingLongTermComputerParts contextRef="TwelveMonthsEnded_31Dec2009" unitRef="CNY" decimals="-4">285200000</bidu:DepreciationOfFixedAssetsExcludingLongTermComputerParts>
  <bidu:DepreciationOfFixedAssetsExcludingLongTermComputerParts contextRef="Jan-01-2010_Dec-31-2010" unitRef="CNY" decimals="-4">380890000</bidu:DepreciationOfFixedAssetsExcludingLongTermComputerParts>
  <bidu:DepreciationOfFixedAssetsExcludingLongTermComputerParts contextRef="Jan-01-2010_Dec-31-2010" unitRef="USD" decimals="-4">57710000</bidu:DepreciationOfFixedAssetsExcludingLongTermComputerParts>
  <bidu:DistributorsDepositsPayableCurrent contextRef="BalanceAsOf_31Dec2009" unitRef="CNY" decimals="-3">3971000</bidu:DistributorsDepositsPayableCurrent>
  <bidu:DistributorsDepositsPayableCurrent contextRef="BalanceAsOf_31Dec2010" unitRef="CNY" decimals="-3">7431000</bidu:DistributorsDepositsPayableCurrent>
  <bidu:DistributorsDepositsPayableCurrent contextRef="BalanceAsOf_31Dec2010" unitRef="USD" decimals="-3">1126000</bidu:DistributorsDepositsPayableCurrent>
  <bidu:EmployeeDefinedContributionPlan contextRef="TwelveMonthsEnded_31Dec2008" unitRef="CNY" decimals="-4">98180000</bidu:EmployeeDefinedContributionPlan>
  <bidu:EmployeeDefinedContributionPlan contextRef="TwelveMonthsEnded_31Dec2009" unitRef="CNY" decimals="-4">141840000</bidu:EmployeeDefinedContributionPlan>
  <bidu:EmployeeDefinedContributionPlan contextRef="Jan-01-2010_Dec-31-2010" unitRef="CNY" decimals="-4">218880000</bidu:EmployeeDefinedContributionPlan>
  <bidu:EmployeeDefinedContributionPlan contextRef="Jan-01-2010_Dec-31-2010" unitRef="USD" decimals="-4">33160000</bidu:EmployeeDefinedContributionPlan>
  <bidu:EntityWideDisclosureOnGeographicAreasLongLivedAssetsTotal contextRef="BalanceAsOf_31Dec2009" unitRef="CNY" decimals="-3">1143401000</bidu:EntityWideDisclosureOnGeographicAreasLongLivedAssetsTotal>
  <bidu:EntityWideDisclosureOnGeographicAreasLongLivedAssetsTotal contextRef="BalanceAsOf_31Dec2010" unitRef="CNY" decimals="-3">1831383000</bidu:EntityWideDisclosureOnGeographicAreasLongLivedAssetsTotal>
  <bidu:EntityWideDisclosureOnGeographicAreasLongLivedAssetsTotal contextRef="BalanceAsOf_31Dec2010" unitRef="USD" decimals="-3">277482000</bidu:EntityWideDisclosureOnGeographicAreasLongLivedAssetsTotal>
  <bidu:FairValueMeasuredOnRecurringBasisAssets contextRef="BalanceAsOf_31Dec2009" unitRef="CNY" decimals="-3">2274963000</bidu:FairValueMeasuredOnRecurringBasisAssets>
  <bidu:FairValueMeasuredOnRecurringBasisAssets contextRef="BalanceAsOf_31Dec2009" unitRef="USD" decimals="-3">344691000</bidu:FairValueMeasuredOnRecurringBasisAssets>
  <bidu:FairValueMeasuredOnRecurringBasisAssets contextRef="BalanceAsOf_31Dec2009_Fair_Value_Inputs_Level1_Member" unitRef="CNY" decimals="-3">1893460000</bidu:FairValueMeasuredOnRecurringBasisAssets>
  <bidu:FairValueMeasuredOnRecurringBasisAssets contextRef="BalanceAsOf_31Dec2009_Fair_Value_Inputs_Level3_Member" unitRef="CNY" decimals="-3">0</bidu:FairValueMeasuredOnRecurringBasisAssets>
  <bidu:FairValueMeasuredOnRecurringBasisAssets contextRef="BalanceAsOf_31Dec2009_Fair_Value_Inputs_Level2_Member" unitRef="CNY" decimals="-3">381503000</bidu:FairValueMeasuredOnRecurringBasisAssets>
  <bidu:FairValueMeasuredOnRecurringBasisAssets contextRef="BalanceAsOf_31Dec2010" unitRef="CNY" decimals="-3">5298574000</bidu:FairValueMeasuredOnRecurringBasisAssets>
  <bidu:FairValueMeasuredOnRecurringBasisAssets contextRef="BalanceAsOf_31Dec2010" unitRef="USD" decimals="-3">802814000</bidu:FairValueMeasuredOnRecurringBasisAssets>
  <bidu:FairValueMeasuredOnRecurringBasisAssets contextRef="BalanceAsOf_31Dec2010_Fair_Value_Inputs_Level1_Member" unitRef="CNY" decimals="-3">4898526000</bidu:FairValueMeasuredOnRecurringBasisAssets>
  <bidu:FairValueMeasuredOnRecurringBasisAssets contextRef="BalanceAsOf_31Dec2010_Fair_Value_Inputs_Level3_Member" unitRef="CNY" decimals="-3">24814000</bidu:FairValueMeasuredOnRecurringBasisAssets>
  <bidu:FairValueMeasuredOnRecurringBasisAssets contextRef="BalanceAsOf_31Dec2010_Fair_Value_Inputs_Level2_Member" unitRef="CNY" decimals="-3">375234000</bidu:FairValueMeasuredOnRecurringBasisAssets>
  <bidu:FinancialSubsidiesReceivedFromGovernment contextRef="TwelveMonthsEnded_31Dec2008" unitRef="CNY" decimals="-4">22720000</bidu:FinancialSubsidiesReceivedFromGovernment>
  <bidu:FinancialSubsidiesReceivedFromGovernment contextRef="TwelveMonthsEnded_31Dec2009" unitRef="CNY" decimals="-4">42500000</bidu:FinancialSubsidiesReceivedFromGovernment>
  <bidu:FinancialSubsidiesReceivedFromGovernment contextRef="Jan-01-2010_Dec-31-2010" unitRef="CNY" decimals="-4">49140000</bidu:FinancialSubsidiesReceivedFromGovernment>
  <bidu:FinancialSubsidiesReceivedFromGovernment contextRef="Jan-01-2010_Dec-31-2010" unitRef="USD" decimals="-4">7450000</bidu:FinancialSubsidiesReceivedFromGovernment>
  <bidu:FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother contextRef="TwelveMonthsEnded_31Dec2010_Contractual_Rights_Member">P2.3Y</bidu:FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother>
  <bidu:FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother contextRef="TwelveMonthsEnded_31Dec2010_Trademarks_Member">P9.6Y</bidu:FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother>
  <bidu:FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother contextRef="TwelveMonthsEnded_31Dec2010_Customer_Relationships_Member">P4.9Y</bidu:FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother>
  <bidu:FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother contextRef="TwelveMonthsEnded_31Dec2010_Noncompete_Agreements_Member">P3.9Y</bidu:FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother>
  <bidu:FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother contextRef="TwelveMonthsEnded_31Dec2010_Computer_Software_Intangible_Asset_Member">P5.9Y</bidu:FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother>
  <bidu:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterest contextRef="TwelveMonthsEnded_31Dec2008" unitRef="CNY" decimals="-3">1164179000</bidu:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterest>
  <bidu:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterest contextRef="TwelveMonthsEnded_31Dec2009" unitRef="CNY" decimals="-3">1683121000</bidu:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterest>
  <bidu:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterest contextRef="Jan-01-2010_Dec-31-2010" unitRef="CNY" decimals="-3">4061163000</bidu:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterest>
  <bidu:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterest contextRef="Jan-01-2010_Dec-31-2010" unitRef="USD" decimals="-3">615327000</bidu:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterest>
  <bidu:IncomeTaxReconciliationDomesticIncomeTaxRateDifferential contextRef="TwelveMonthsEnded_31Dec2008" unitRef="CNY" decimals="-3">205980000</bidu:IncomeTaxReconciliationDomesticIncomeTaxRateDifferential>
  <bidu:IncomeTaxReconciliationDomesticIncomeTaxRateDifferential contextRef="TwelveMonthsEnded_31Dec2009" unitRef="CNY" decimals="-3">258647000</bidu:IncomeTaxReconciliationDomesticIncomeTaxRateDifferential>
  <bidu:IncomeTaxReconciliationDomesticIncomeTaxRateDifferential contextRef="Jan-01-2010_Dec-31-2010" unitRef="CNY" decimals="-3">533802000</bidu:IncomeTaxReconciliationDomesticIncomeTaxRateDifferential>
  <bidu:IncomeTaxReconciliationDomesticIncomeTaxRateDifferential contextRef="Jan-01-2010_Dec-31-2010" unitRef="USD" decimals="-3">80879000</bidu:IncomeTaxReconciliationDomesticIncomeTaxRateDifferential>
  <bidu:IncomeTaxReconciliationForeignIncomeTaxRateDifferentialAnother contextRef="TwelveMonthsEnded_31Dec2008" unitRef="CNY" decimals="-3">3533000</bidu:IncomeTaxReconciliationForeignIncomeTaxRateDifferentialAnother>
  <bidu:IncomeTaxReconciliationForeignIncomeTaxRateDifferentialAnother contextRef="TwelveMonthsEnded_31Dec2009" unitRef="CNY" decimals="-3">5101000</bidu:IncomeTaxReconciliationForeignIncomeTaxRateDifferentialAnother>
  <bidu:IncomeTaxReconciliationForeignIncomeTaxRateDifferentialAnother contextRef="Jan-01-2010_Dec-31-2010" unitRef="CNY" decimals="-3">8416000</bidu:IncomeTaxReconciliationForeignIncomeTaxRateDifferentialAnother>
  <bidu:IncomeTaxReconciliationForeignIncomeTaxRateDifferentialAnother contextRef="Jan-01-2010_Dec-31-2010" unitRef="USD" decimals="-3">1275000</bidu:IncomeTaxReconciliationForeignIncomeTaxRateDifferentialAnother>
  <bidu:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtUnifiedStatutoryIncomeTaxRate contextRef="TwelveMonthsEnded_31Dec2008" unitRef="CNY" decimals="-3">291045000</bidu:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtUnifiedStatutoryIncomeTaxRate>
  <bidu:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtUnifiedStatutoryIncomeTaxRate contextRef="TwelveMonthsEnded_31Dec2009" unitRef="CNY" decimals="-3">420780000</bidu:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtUnifiedStatutoryIncomeTaxRate>
  <bidu:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtUnifiedStatutoryIncomeTaxRate contextRef="Jan-01-2010_Dec-31-2010" unitRef="CNY" decimals="-3">1015329000</bidu:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtUnifiedStatutoryIncomeTaxRate>
  <bidu:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtUnifiedStatutoryIncomeTaxRate contextRef="Jan-01-2010_Dec-31-2010" unitRef="USD" decimals="-3">153837000</bidu:IncomeTaxReconciliationIncomeTaxExpenseBenefitAtUnifiedStatutoryIncomeTaxRate>
  <bidu:IncreaseDecreaseInCustomerAdvancesAndDepositsCurrent contextRef="TwelveMonthsEnded_31Dec2008" unitRef="CNY" decimals="-3">164949000</bidu:IncreaseDecreaseInCustomerAdvancesAndDepositsCurrent>
  <bidu:IncreaseDecreaseInCustomerAdvancesAndDepositsCurrent contextRef="TwelveMonthsEnded_31Dec2009" unitRef="CNY" decimals="-3">185302000</bidu:IncreaseDecreaseInCustomerAdvancesAndDepositsCurrent>
  <bidu:IncreaseDecreaseInCustomerAdvancesAndDepositsCurrent contextRef="Jan-01-2010_Dec-31-2010" unitRef="CNY" decimals="-3">421516000</bidu:IncreaseDecreaseInCustomerAdvancesAndDepositsCurrent>
  <bidu:IncreaseDecreaseInCustomerAdvancesAndDepositsCurrent contextRef="Jan-01-2010_Dec-31-2010" unitRef="USD" decimals="-3">63866000</bidu:IncreaseDecreaseInCustomerAdvancesAndDepositsCurrent>
  <bidu:IncreaseDecreaseInDeferredIncome contextRef="TwelveMonthsEnded_31Dec2008" unitRef="CNY" decimals="-3">-2485000</bidu:IncreaseDecreaseInDeferredIncome>
  <bidu:IncreaseDecreaseInDeferredIncome contextRef="TwelveMonthsEnded_31Dec2009" unitRef="CNY" decimals="-3">-332000</bidu:IncreaseDecreaseInDeferredIncome>
  <bidu:IncreaseDecreaseInDeferredIncome contextRef="Jan-01-2010_Dec-31-2010" unitRef="CNY" decimals="-3">5000000</bidu:IncreaseDecreaseInDeferredIncome>
  <bidu:IncreaseDecreaseInDeferredIncome contextRef="Jan-01-2010_Dec-31-2010" unitRef="USD" decimals="-3">758000</bidu:IncreaseDecreaseInDeferredIncome>
  <bidu:IncrementalCommonSharesAttributableToConversionOfOtherClassOfStock contextRef="TwelveMonthsEnded_31Dec2008_Common_Class_A_Member" unitRef="Shares" decimals="0">9003290</bidu:IncrementalCommonSharesAttributableToConversionOfOtherClassOfStock>
  <bidu:IncrementalCommonSharesAttributableToConversionOfOtherClassOfStock contextRef="TwelveMonthsEnded_31Dec2009_Common_Class_A_Member" unitRef="Shares" decimals="0">8797198</bidu:IncrementalCommonSharesAttributableToConversionOfOtherClassOfStock>
  <bidu:IncrementalCommonSharesAttributableToConversionOfOtherClassOfStock contextRef="TwelveMonthsEnded_31Dec2010_Common_Class_A_Member" unitRef="Shares" decimals="0">8238907</bidu:IncrementalCommonSharesAttributableToConversionOfOtherClassOfStock>
  <bidu:IntangibleAssetsGrossExcludingGoodwill contextRef="BalanceAsOf_31Dec2009" unitRef="CNY" decimals="-3">166203000</bidu:IntangibleAssetsGrossExcludingGoodwill>
  <bidu:IntangibleAssetsGrossExcludingGoodwill contextRef="BalanceAsOf_31Dec2010" unitRef="CNY" decimals="-3">169600000</bidu:IntangibleAssetsGrossExcludingGoodwill>
  <bidu:InvestmentInAvailableForSaleDebtSecuritiesNeitherClassifiedAsCostMethodInvestmentsNorEquityMethodInvestmentsOwnershipPercentage contextRef="BalanceAsOf_31Dec2010_Six_Dxchange_Member" unitRef="Pure" decimals="4">0.1160</bidu:InvestmentInAvailableForSaleDebtSecuritiesNeitherClassifiedAsCostMethodInvestmentsNorEquityMethodInvestmentsOwnershipPercentage>
  <bidu:MaturityPeriodUsedToClassifyInvestmentsAsCashAndCashEquivalents contextRef="Jan-01-2010_Dec-31-2010">Three months or less</bidu:MaturityPeriodUsedToClassifyInvestmentsAsCashAndCashEquivalents>
  <bidu:MaturityPeriodUsedToClassifyInvestmentsAsShortTermInvestments contextRef="Jan-01-2010_Dec-31-2010">Greater than three months  but
less than 12 months</bidu:MaturityPeriodUsedToClassifyInvestmentsAsShortTermInvestments>
  <bidu:MaximumRequiredPercentageOfEachOfEntitysVIEsAfterTaxProfitsToAllocateToStatutoryPublicWelfareFund contextRef="Jan-01-2010_Dec-31-2010" unitRef="Pure" decimals="1">0.1</bidu:MaximumRequiredPercentageOfEachOfEntitysVIEsAfterTaxProfitsToAllocateToStatutoryPublicWelfareFund>
  <bidu:MaximumRequirementOfEachOfEntitysSubsidiariesAfterTaxProfitsToBeAllocatedToGeneralReserveFundAsPercentageOfEachSubsidiariesRegisteredCapital contextRef="Jan-01-2010_Dec-31-2010" unitRef="Pure" decimals="1">0.5</bidu:MaximumRequirementOfEachOfEntitysSubsidiariesAfterTaxProfitsToBeAllocatedToGeneralReserveFundAsPercentageOfEachSubsidiariesRegisteredCapital>
  <bidu:MaximumRequirementOfEachOfEntitysVIEsAfterTaxProfitsToBeAllocatedToStatutorySurplusFundAsPercentageOfEachVIEsRegisteredCapital contextRef="Jan-01-2010_Dec-31-2010" unitRef="Pure" decimals="4">0.5000</bidu:MaximumRequirementOfEachOfEntitysVIEsAfterTaxProfitsToBeAllocatedToStatutorySurplusFundAsPercentageOfEachVIEsRegisteredCapital>
  <bidu:MinimumPaidInCapitalRequiredForSpecifiedNationalIncomeTaxRateOfForeignCountry contextRef="BalanceAsOf_31Dec2010_Baidu_Japan_Member" unitRef="JPY" decimals="-4">100000000</bidu:MinimumPaidInCapitalRequiredForSpecifiedNationalIncomeTaxRateOfForeignCountry>
  <bidu:MinimumPercentageOfVotingPowerOfEntitysShareCapital contextRef="TwelveMonthsEnded_31Dec2010_Iso_Under2008_Plan_Member" unitRef="Pure" decimals="1">0.10</bidu:MinimumPercentageOfVotingPowerOfEntitysShareCapital>
  <bidu:MinimumRequiredPercentageOfEachOfEntitysSubsidiariesAfterTaxProfitsToAllocateToGeneralReserveFund contextRef="Jan-01-2010_Dec-31-2010" unitRef="Pure" decimals="1">0.1</bidu:MinimumRequiredPercentageOfEachOfEntitysSubsidiariesAfterTaxProfitsToAllocateToGeneralReserveFund>
  <bidu:MinimumRequiredPercentageOfEachOfEntitysVIEsAfterTaxProfitsToAllocateToStatutoryPublicWelfareFund contextRef="Jan-01-2010_Dec-31-2010" unitRef="Pure" decimals="2">0.05</bidu:MinimumRequiredPercentageOfEachOfEntitysVIEsAfterTaxProfitsToAllocateToStatutoryPublicWelfareFund>
  <bidu:MinimumRequiredPercentageOfEachOfEntitysViesAfterTaxProfitsToAllocateToStatutorySurplusFund contextRef="Jan-01-2010_Dec-31-2010" unitRef="Pure" decimals="1">0.1</bidu:MinimumRequiredPercentageOfEachOfEntitysViesAfterTaxProfitsToAllocateToStatutorySurplusFund>
  <bidu:NominalAmountPaidToAcquireEquityInterestInJointVentureTransferredFromThirdPartyEntity contextRef="BalanceAsOf_22Dec2010_Equity_Interest_In_Henan_Feidian_Transferred_From_Henan_Ruizhiqi_To_Baidu_Netcom_Member" unitRef="CNY" decimals="INF">1.00</bidu:NominalAmountPaidToAcquireEquityInterestInJointVentureTransferredFromThirdPartyEntity>
  <bidu:NominalAmountPaidToAcquireEquityInterestInJointVentureTransferredFromThirdPartyEntity contextRef="BalanceAsOf_22Dec2010_Equity_Interest_In_Henan_Feidian_Transferred_From_Henan_Ruizhiqi_To_Baidu_Netcom_Member" unitRef="USD" decimals="INF">0.15</bidu:NominalAmountPaidToAcquireEquityInterestInJointVentureTransferredFromThirdPartyEntity>
  <bidu:NumberOfConvertibleRedeemablePreferredSharesAcquired contextRef="BalanceAsOf_31May2010_Six_Dxchange_Member" unitRef="Shares" decimals="INF">4942784</bidu:NumberOfConvertibleRedeemablePreferredSharesAcquired>
  <bidu:NumberOfOperatingSegment contextRef="Jan-01-2010_Dec-31-2010" unitRef="Pure" decimals="INF">1</bidu:NumberOfOperatingSegment>
  <bidu:NumberOfPreferredSharesOfCostMethodInvesteeEntityAgreedToSubscribeFor contextRef="BalanceAsOf_28Feb2011_Anjuke_Member" unitRef="Shares" decimals="INF">1981378</bidu:NumberOfPreferredSharesOfCostMethodInvesteeEntityAgreedToSubscribeFor>
  <bidu:NumberOfYearsOfTaxExemption contextRef="TwentyFourMonthsEnded_31Dec2007_Baidu_China_Member" unitRef="Pure" decimals="INF">2</bidu:NumberOfYearsOfTaxExemption>
  <bidu:NumberOfYearsOfTaxExemption contextRef="TwentyFourMonthsEnded_31Dec2007_Qualified_Software_Enterprise_Member" unitRef="Pure" decimals="INF">2</bidu:NumberOfYearsOfTaxExemption>
  <bidu:NumberOfYearsOfTaxExemption contextRef="ThirtySixMonthsEnded_31Dec2008_Baidu_Times_Member" unitRef="Pure" decimals="INF">3</bidu:NumberOfYearsOfTaxExemption>
  <bidu:NumberOfYearsOfTaxRateReductionSubsequentToYearsOfTaxExemption contextRef="ThirtySixMonthsEnded_31Dec2010_Baidu_China_Member" unitRef="Pure" decimals="INF">3</bidu:NumberOfYearsOfTaxRateReductionSubsequentToYearsOfTaxExemption>
  <bidu:NumberOfYearsOfTaxRateReductionSubsequentToYearsOfTaxExemption contextRef="ThirtySixMonthsEnded_31Dec2010_Qualified_Software_Enterprise_Member" unitRef="Pure" decimals="INF">3</bidu:NumberOfYearsOfTaxRateReductionSubsequentToYearsOfTaxExemption>
  <bidu:NumberOfYearsOfTaxRateReductionSubsequentToYearsOfTaxExemption contextRef="TwentyFourMonthsEnded_31Dec2010_Baidu_Times_Member" unitRef="Pure" decimals="INF">2</bidu:NumberOfYearsOfTaxRateReductionSubsequentToYearsOfTaxExemption>
  <bidu:OtherAssetsCurrentOther contextRef="BalanceAsOf_31Dec2009" unitRef="CNY" decimals="-3">139000</bidu:OtherAssetsCurrentOther>
  <bidu:OtherAssetsCurrentOther contextRef="BalanceAsOf_31Dec2010" unitRef="CNY" decimals="-3">944000</bidu:OtherAssetsCurrentOther>
  <bidu:OtherAssetsCurrentOther contextRef="BalanceAsOf_31Dec2010" unitRef="USD" decimals="-3">143000</bidu:OtherAssetsCurrentOther>
  <bidu:PercentageOfEquityInterestHeldByEntitiesInNewJointVenture contextRef="BalanceAsOf_31Jan2011_Baidu_Netcom_Member" unitRef="Pure" decimals="2">0.80</bidu:PercentageOfEquityInterestHeldByEntitiesInNewJointVenture>
  <bidu:PercentageOfEquityInterestHeldByEntitiesInNewJointVenture contextRef="BalanceAsOf_31Jan2011_Dcm_Member" unitRef="Pure" decimals="2">0.20</bidu:PercentageOfEquityInterestHeldByEntitiesInNewJointVenture>
  <bidu:PercentageOfEquityInterestHeldByEntityInCostMethodInvesteeOnAsConvertedBasis contextRef="BalanceAsOf_28Feb2011_Anjuke_Member" unitRef="Pure" decimals="2">0.05</bidu:PercentageOfEquityInterestHeldByEntityInCostMethodInvesteeOnAsConvertedBasis>
  <bidu:PercentageOfEquityInterestInJointVentureHeldByVariousParties contextRef="BalanceAsOf_31Dec2010_Henan_Business_Newss_Equity_Interest_In_Henan_Feidian_Member" unitRef="Pure" decimals="2">0.35</bidu:PercentageOfEquityInterestInJointVentureHeldByVariousParties>
  <bidu:PercentageOfEquityInterestInJointVentureHeldByVariousParties contextRef="BalanceAsOf_31Dec2010_Baidu_Netcoms_Equity_Interest_In_Henan_Feidian_Member" unitRef="Pure" decimals="2">0.40</bidu:PercentageOfEquityInterestInJointVentureHeldByVariousParties>
  <bidu:PercentageOfEquityInterestInJointVentureHeldByVariousParties contextRef="BalanceAsOf_31Dec2010_Third_Party_Individuals_Equity_Interest_In_Henan_Feidian_Member" unitRef="Pure" decimals="2">0.15</bidu:PercentageOfEquityInterestInJointVentureHeldByVariousParties>
  <bidu:PercentageOfEquityInterestInJointVentureHeldByVariousParties contextRef="BalanceAsOf_31Dec2010_Yubaos_Equity_Interest_In_Chongqing_Rongdu_Member" unitRef="Pure" decimals="2">0.30</bidu:PercentageOfEquityInterestInJointVentureHeldByVariousParties>
  <bidu:PercentageOfEquityInterestInJointVentureHeldByVariousParties contextRef="BalanceAsOf_31Dec2010_Baidu_Netcoms_Equity_Interest_In_Chongqing_Rongdu_Member" unitRef="Pure" decimals="2">0.40</bidu:PercentageOfEquityInterestInJointVentureHeldByVariousParties>
  <bidu:PercentageOfEquityInterestInJointVentureHeldByVariousParties contextRef="BalanceAsOf_31Dec2010_Service_News_Equity_Interest_In_Chongqing_Rongdu_Member" unitRef="Pure" decimals="2">0.15</bidu:PercentageOfEquityInterestInJointVentureHeldByVariousParties>
  <bidu:PercentageOfEquityInterestInJointVentureHeldByVariousParties contextRef="BalanceAsOf_31Dec2010_Third_Party_Individuals_Equity_Interest_In_Chongqing_Rongdu_Member" unitRef="Pure" decimals="2">0.15</bidu:PercentageOfEquityInterestInJointVentureHeldByVariousParties>
  <bidu:PercentageOfEquityInterestInJointVentureHeldByVariousParties contextRef="BalanceAsOf_31Dec2010_Henan_Ruizhiqis_Equity_Interest_In_Henan_Feidian_Member" unitRef="Pure" decimals="2">0.10</bidu:PercentageOfEquityInterestInJointVentureHeldByVariousParties>
  <bidu:PercentageOfEquityInterestInJointVentureTransferredFromThirdPartyEntity contextRef="BalanceAsOf_22Dec2010_Equity_Interest_In_Henan_Feidian_Transferred_From_Henan_Ruizhiqi_To_Baidu_Netcom_Member" unitRef="Pure" decimals="2">0.4</bidu:PercentageOfEquityInterestInJointVentureTransferredFromThirdPartyEntity>
  <bidu:PercentageOfFairMarketValueOfEntitysOrdinarySharesOnDateOfIsoGrant contextRef="TwelveMonthsEnded_31Dec2010_Iso_Under2008_Plan_Member" unitRef="Pure" decimals="2">1.10</bidu:PercentageOfFairMarketValueOfEntitysOrdinarySharesOnDateOfIsoGrant>
  <bidu:PercentageOfShareBasedAwardsGrantedGenerallyVestAfterFirstYearOfService contextRef="TwelveMonthsEnded_31Dec2010_Share_Option_Under2000_Plan_Member" unitRef="Pure" decimals="2">0.25</bidu:PercentageOfShareBasedAwardsGrantedGenerallyVestAfterFirstYearOfService>
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  <bidu:PreviousRatioOfAdsToClassaOrdinaryShare contextRef="BalanceAsOf_12May2010">one ADS for one share</bidu:PreviousRatioOfAdsToClassaOrdinaryShare>
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  <bidu:PurchaseOfFixedAssetsPayableCurrent contextRef="BalanceAsOf_31Dec2010" unitRef="USD" decimals="-3">42071000</bidu:PurchaseOfFixedAssetsPayableCurrent>
  <bidu:RateUsedToDetermineSomePropertyPlantAndEquipmentsEstimatedResidualValue contextRef="TwelveMonthsEnded_31Dec2010_Office_Building_Office_Building_Related_Facility_And_Machinery_And_Equipment_Member" unitRef="Pure" decimals="2">0.04</bidu:RateUsedToDetermineSomePropertyPlantAndEquipmentsEstimatedResidualValue>
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  <bidu:ReallocationOfUndistributedEarningsAsResultOfConversionOfClassBToClassAShares contextRef="TwelveMonthsEnded_31Dec2010_Common_Class_A_Member" unitRef="CNY" decimals="-3">831803000</bidu:ReallocationOfUndistributedEarningsAsResultOfConversionOfClassBToClassAShares>
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  <bidu:ReductionRateOnApplicableEnterpriseIncomeTaxRates contextRef="ThirtySixMonthsEnded_31Dec2010_Baidu_China_Member" unitRef="Pure" decimals="2">0.5</bidu:ReductionRateOnApplicableEnterpriseIncomeTaxRates>
  <bidu:ReductionRateOnApplicableEnterpriseIncomeTaxRates contextRef="TwentyFourMonthsEnded_31Dec2010_Baidu_Times_Member" unitRef="Pure" decimals="2">0.5</bidu:ReductionRateOnApplicableEnterpriseIncomeTaxRates>
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  <bidu:SplitWhoseEffectIsSameWithChangeOfAdsToClassaOrdinaryShareRatio contextRef="BalanceAsOf_12May2010">ten-for-one ADS split</bidu:SplitWhoseEffectIsSameWithChangeOfAdsToClassaOrdinaryShareRatio>
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  <bidu:TimePeriodThatTaxAuthoritiesCouldConductExaminationsOfEntitysTaxFilings contextRef="TwelveMonthsEnded_31Dec2010_Domestic_Country_Member">Up to 5 Years</bidu:TimePeriodThatTaxAuthoritiesCouldConductExaminationsOfEntitysTaxFilings>
  <bidu:TimePeriodThatTaxAuthoritiesCouldConductExaminationsOfEntitysTaxFilings contextRef="TwelveMonthsEnded_31Dec2010_Foreign_Country_Member">Up to 7 Years</bidu:TimePeriodThatTaxAuthoritiesCouldConductExaminationsOfEntitysTaxFilings>
  <bidu:TotalCapitalCommitmentsContractedNotYetReflectedInFinancialStatements contextRef="BalanceAsOf_31Dec2010" unitRef="CNY" decimals="-4">168400000</bidu:TotalCapitalCommitmentsContractedNotYetReflectedInFinancialStatements>
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  <bidu:TotalConsiderationByOtherEntityForSubscriptionForNewOrdinarySharesInNewJointVenture contextRef="BalanceAsOf_31Jan2011_Dcm_Member" unitRef="USD" decimals="-4">22500000</bidu:TotalConsiderationByOtherEntityForSubscriptionForNewOrdinarySharesInNewJointVenture>
  <bidu:TrafficAcquisitionCosts contextRef="BalanceAsOf_31Dec2009" unitRef="CNY" decimals="-3">109305000</bidu:TrafficAcquisitionCosts>
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  <bidu:TransitionalEnterpriseIncomeTaxRates contextRef="TwelveMonthsEnded_31Dec2009_Transitional_E_I_T_Rate_Member" unitRef="Pure" decimals="2">0.20</bidu:TransitionalEnterpriseIncomeTaxRates>
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  <bidu:TransitionalEnterpriseIncomeTaxRates contextRef="TwelveMonthsEnded_31Dec2011_Transitional_E_I_T_Rate_Member" unitRef="Pure" decimals="2">0.24</bidu:TransitionalEnterpriseIncomeTaxRates>
  <bidu:UnifiedStatutoryEnterpriseIncomeTaxRateUnderCurrentEITLaw contextRef="ThirtySixMonthsEnded_31Dec2010" unitRef="Pure" decimals="2">0.25</bidu:UnifiedStatutoryEnterpriseIncomeTaxRateUnderCurrentEITLaw>
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  <dei:EntityWellKnownSeasonedIssuer contextRef="Jan-01-2010_Dec-31-2010">Yes</dei:EntityWellKnownSeasonedIssuer>
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  <us-gaap:AccruedProfessionalFeesCurrent contextRef="BalanceAsOf_31Dec2009" unitRef="CNY" decimals="-3">19420000</us-gaap:AccruedProfessionalFeesCurrent>
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      <link:roleType roleURI="http://baidu.com/role/SummaryOfSignificantAccountingPoliciesDetailsTextuals1" id="SummaryOfSignificantAccountingPoliciesDetailsTextuals1">
        <link:definition>06024 - Disclosure - Summary of Significant Accounting Policies (Details Textuals 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/InvestmentsDetailsTextual1" id="InvestmentsDetailsTextual1">
        <link:definition>06032 - Disclosure - Investments (Details Textual 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/FixedAssetsDetailsTextual" id="FixedAssetsDetailsTextual">
        <link:definition>06061 - Disclosure - Fixed Assets (Details Textual)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/StockholdersEquityDetails1" id="StockholdersEquityDetails1">
        <link:definition>06131 - Disclosure - Stockholders' Equity (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/FairValueMeasurementDetailsTextuals" id="FairValueMeasurementDetailsTextuals">
        <link:definition>06182 - Disclosure - Fair Value Measurement (Details Textuals)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/FairValueMeasurementDetails1" id="FairValueMeasurementDetails1">
        <link:definition>06181 - Disclosure - Fair Value Measurement (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/EarningsPerShareDetails2" id="EarningsPerShareDetails2">
        <link:definition>06142 - Disclosure - Earnings Per Share (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/EarningsPerShareDetails1" id="EarningsPerShareDetails1">
        <link:definition>06141 - Disclosure - Earnings Per Share (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/SegmentReportingTables" id="SegmentReportingTables">
        <link:definition>0517 - Disclosure - Segment Reporting (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/StockholdersEquityTables" id="StockholdersEquityTables">
        <link:definition>0513 - Disclosure - Stockholders' Equity (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/StockholdersEquityDetails" id="StockholdersEquityDetails">
        <link:definition>0613 - Disclosure - Stockholders' Equity (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/LoansPayableNoncurrentTables" id="LoansPayableNoncurrentTables">
        <link:definition>0510 - Disclosure - Loans Payable, Noncurrent (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/LoansPayableNoncurrentDetails" id="LoansPayableNoncurrentDetails">
        <link:definition>0610 - Disclosure - Loans Payable, Noncurrent (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/InvestmentsDetailsTextuals" id="InvestmentsDetailsTextuals">
        <link:definition>06031 - Disclosure - Investments (Details Textual)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/InvestmentsDetails" id="InvestmentsDetails">
        <link:definition>0603 - Disclosure - Investments (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/InvestmentsTables" id="InvestmentsTables">
        <link:definition>0503 - Disclosure - Investments (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/EarningsPerShareTables" id="EarningsPerShareTables">
        <link:definition>0514 - Disclosure - Earnings Per Share (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/EarningsPerShareDetails" id="EarningsPerShareDetails">
        <link:definition>0614 - Disclosure - Earnings Per Share (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/EarningsPerShare" id="EarningsPerShare">
        <link:definition>0214 - Disclosure - Earnings Per Share</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/StockholdersEquity" id="StockholdersEquity">
        <link:definition>0213 - Disclosure - Stockholders' Equity</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/LoansPayableNoncurrent" id="LoansPayableNoncurrent">
        <link:definition>0210 - Disclosure - Loans Payable, Noncurrent</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/Investments" id="Investments">
        <link:definition>0203 - Disclosure - Investments</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/GoodwillAndIntangibleAssetsDetails1" id="GoodwillAndIntangibleAssetsDetails1">
        <link:definition>06071 - Disclosure - Goodwill and Intangible Assets (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/GoodwillAndIntangibleAssetsDetails2" id="GoodwillAndIntangibleAssetsDetails2">
        <link:definition>06072 - Disclosure - Goodwill and Intangible Assets (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/GoodwillAndIntangibleAssetsDetails3" id="GoodwillAndIntangibleAssetsDetails3">
        <link:definition>06073 - Disclosure - Goodwill and Intangible Assets (Details Textuals)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/SummaryOfSignificantAccountingPoliciesDetails1" id="SummaryOfSignificantAccountingPoliciesDetails1">
        <link:definition>06021 - Disclosure - Summary of Significant Accounting Policies (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/SummaryOfSignificantAccountingPoliciesDetails3" id="SummaryOfSignificantAccountingPoliciesDetails3">
        <link:definition>06023 - Disclosure - Summary of Significant Accounting Policies (Details Textuals)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/IncomeTaxesDetailsTextuals1" id="IncomeTaxesDetailsTextuals1">
        <link:definition>06095 - Disclosure - Income Taxes (Details) [Textuals 1]</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/IncomeTaxesDetails3" id="IncomeTaxesDetails3">
        <link:definition>06093 - Disclosure - Income Taxes (Details 3)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/IncomeTaxesDetails2" id="IncomeTaxesDetails2">
        <link:definition>06092 - Disclosure - Income Taxes (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/IncomeTaxesDetails1" id="IncomeTaxesDetails1">
        <link:definition>06091 - Disclosure - Income Taxes (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/IncomeTaxesDetailsTextuals" id="IncomeTaxesDetailsTextuals">
        <link:definition>06094 - Disclosure - Income Taxes (Details) [Textuals]</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/ShareBasedAwardsPlanDetails3" id="ShareBasedAwardsPlanDetails3">
        <link:definition>06153 - Disclosure - Share-Based Awards Plan (Details 3)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/FairValueMeasurementDetails" id="FairValueMeasurementDetails">
        <link:definition>0618 - Disclosure - Fair Value Measurement (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/FairValueMeasurementTables" id="FairValueMeasurementTables">
        <link:definition>0518 - Disclosure - Fair Value Measurement (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/ShareBasedAwardsPlanDetailsTextuals" id="ShareBasedAwardsPlanDetailsTextuals">
        <link:definition>06154 - Disclosure - Share-Based Awards Plan (Details Textuals)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/ShareBasedAwardsPlanDetails2" id="ShareBasedAwardsPlanDetails2">
        <link:definition>06152 - Disclosure - Share-Based Awards Plan (Details 2)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/ShareBasedAwardsPlanDetails1" id="ShareBasedAwardsPlanDetails1">
        <link:definition>06151 - Disclosure - Share-Based Awards Plan (Details 1)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/ShareBasedAwardsPlanTables" id="ShareBasedAwardsPlanTables">
        <link:definition>0515 - Disclosure - Share-Based Awards Plan (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/ShareBasedAwardsPlanDetails" id="ShareBasedAwardsPlanDetails">
        <link:definition>0615 - Disclosure - Share-Based Awards Plan (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/SegmentReportingDetails" id="SegmentReportingDetails">
        <link:definition>0617 - Disclosure - Segment Reporting (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/SubsequentEventsDetails" id="SubsequentEventsDetails">
        <link:definition>0619 - Disclosure - Subsequent Events (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/IncomeTaxesTables" id="IncomeTaxesTables">
        <link:definition>0509 - Disclosure - Income Taxes (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/IncomeTaxesDetails" id="IncomeTaxesDetails">
        <link:definition>0609 - Disclosure - Income Taxes (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/AccountsPayableAndAccruedLiabilitiesCurrentTables" id="AccountsPayableAndAccruedLiabilitiesCurrentTables">
        <link:definition>0508 - Disclosure - Accounts Payable and Accrued Liabilities (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/AccountsPayableAndAccruedLiabilitiesCurrentDetails" id="AccountsPayableAndAccruedLiabilitiesCurrentDetails">
        <link:definition>0608 - Disclosure - Accounts Payable and Accrued Liabilities (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/SummaryOfSignificantAccountingPoliciesPolicies" id="SummaryOfSignificantAccountingPoliciesPolicies">
        <link:definition>0402 - Disclosure - Summary of Significant Accounting Policies (Policies)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/SummaryOfSignificantAccountingPoliciesDetails" id="SummaryOfSignificantAccountingPoliciesDetails">
        <link:definition>0602 - Disclosure - Summary of Significant Accounting Policies (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/SummaryOfSignificantAccountingPoliciesTables" id="SummaryOfSignificantAccountingPoliciesTables">
        <link:definition>0502 - Disclosure - Summary of Significant Accounting Policies (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/GoodwillAndIntangibleAssetsDetails" id="GoodwillAndIntangibleAssetsDetails">
        <link:definition>0607 - Disclosure - Goodwill and Intangible Assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/GoodwillAndIntangibleAssetsTables" id="GoodwillAndIntangibleAssetsTables">
        <link:definition>0507 - Disclosure - Goodwill and Intangible Assets (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/FixedAssetsDetails" id="FixedAssetsDetails">
        <link:definition>0606 - Disclosure - Fixed Assets (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/FixedAssetsTables" id="FixedAssetsTables">
        <link:definition>0506 - Disclosure - Fixed Assets (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/OtherAssetsCurrentDetails" id="OtherAssetsCurrentDetails">
        <link:definition>0605 - Disclosure - Other Assets,Current (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/OtherAssetsCurrentTables" id="OtherAssetsCurrentTables">
        <link:definition>0505 - Disclosure - Other Assets, Current (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/OrganizationConsolidationAndPresentationOfFinancialStatementsDetails" id="OrganizationConsolidationAndPresentationOfFinancialStatementsDetails">
        <link:definition>0601 - Disclosure - Organization, Consolidation and Presentation of Financial Statements (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/EmployeeDefinedContributionPlanDetails" id="EmployeeDefinedContributionPlanDetails">
        <link:definition>0611 - Disclosure - Employee Defined Contribution Plan (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/CommitmentsAndContingenciesDetails" id="CommitmentsAndContingenciesDetails">
        <link:definition>0612 - Disclosure - Commitments and Contingencies (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/CommitmentsAndContingenciesTables" id="CommitmentsAndContingenciesTables">
        <link:definition>0512 - Disclosure - Commitments and Contingencies (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/AccountsReceivableDetails" id="AccountsReceivableDetails">
        <link:definition>0604 - Disclosure - Accounts Receivable (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/AccountsReceivableTables" id="AccountsReceivableTables">
        <link:definition>0504 - Disclosure - Accounts Receivable (Tables)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://baidu.com/role/AccountsPayableAndAccruedLiabilitiesCurrent" id="AccountsPayableAndAccruedLiabilitiesCurrent">
        <link:definition>0208 - Disclosure - Accounts Payable and Accrued Liabilities</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
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      <link:roleType roleURI="http://baidu.com/role/StatementsOfShareholdersEquityUsd" id="StatementsOfShareholdersEquityUsd">
        <link:definition>0140 - Statement - Consolidated Statements of Shareholders' Equity</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://baidu.com/role/StatementsOfCashFlowsUsd" id="StatementsOfCashFlowsUsd">
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        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://baidu.com/role/StatementsOfIncomeUSD" id="StatementsOfIncomeUSD">
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        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://baidu.com/role/BalanceSheetsParentheticalUSD" id="BalanceSheetsParentheticalUSD">
        <link:definition>0111 - Statement - Consolidated Balance Sheets (Parenthetical)</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://baidu.com/role/BalanceSheetsUSD" id="BalanceSheetsUSD">
        <link:definition>0110 - Statement - Consolidated Balance Sheets</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://baidu.com/role/DocumentAndCompanyInformation" id="DocumentAndCompanyInformation">
        <link:definition>00 - Document - Document and Entity Information</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://baidu.com/role/OrganizationConsolidationAndPresentationOfFinancialStatements" id="OrganizationConsolidationAndPresentationOfFinancialStatements">
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://baidu.com/role/SummaryOfSignificantAccountingPolicies" id="SummaryOfSignificantAccountingPolicies">
        <link:definition>0202 - Disclosure - Summary of Significant Accounting Policies</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
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      <link:roleType roleURI="http://baidu.com/role/SubsequentEvents" id="SubsequentEvents">
        <link:definition>0219 - Disclosure - Subsequent Events</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>0212 - Disclosure - Commitments and Contingencies</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>0211 - Disclosure - Employee Defined Contribution Plan</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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        <link:definition>0209 - Disclosure - Income Taxes</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://baidu.com/role/GoodwillAndIntangibleAssets" id="GoodwillAndIntangibleAssets">
        <link:definition>0207 - Disclosure - Goodwill and Intangible Assets</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://baidu.com/role/FixedAssets" id="FixedAssets">
        <link:definition>0206 - Disclosure - Fixed Assets</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://baidu.com/role/PrepaidExpensesAndOtherCurrentAssets" id="PrepaidExpensesAndOtherCurrentAssets">
        <link:definition>0205 - Disclosure - Other Assets, Current</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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      <link:roleType roleURI="http://baidu.com/role/AccountsReceivable" id="AccountsReceivable">
        <link:definition>0204 - Disclosure - Accounts Receivable</link:definition>
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        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
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  <element id="bidu_InvestmentInAvailableForSaleDebtSecuritiesNeitherClassifiedAsCostMethodInvestmentsNorEquityMethodInvestmentsOwnershipPercentage" name="InvestmentInAvailableForSaleDebtSecuritiesNeitherClassifiedAsCostMethodInvestmentsNorEquityMethodInvestmentsOwnershipPercentage" type="us-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
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  <element id="bidu_YubaosEquityInterestInChongqingRongduMember" name="YubaosEquityInterestInChongqingRongduMember" type="us-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <element id="bidu_ServiceNewsEquityInterestInChongqingRongduMember" name="ServiceNewsEquityInterestInChongqingRongduMember" type="us-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <element id="bidu_ThirdPartyIndividualsEquityInterestInChongqingRongduMember" name="ThirdPartyIndividualsEquityInterestInChongqingRongduMember" type="us-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <element id="bidu_BaiduNetcomsEquityInterestInHenanFeidianMember" name="BaiduNetcomsEquityInterestInHenanFeidianMember" type="us-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <element id="bidu_HenanRuizhiqisEquityInterestInHenanFeidianMember" name="HenanRuizhiqisEquityInterestInHenanFeidianMember" type="us-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <element id="bidu_HenanBusinessNewssEquityInterestInHenanFeidianMember" name="HenanBusinessNewssEquityInterestInHenanFeidianMember" type="us-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <element id="bidu_ThirdPartyIndividualsEquityInterestInHenanFeidianMember" name="ThirdPartyIndividualsEquityInterestInHenanFeidianMember" type="us-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
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  <element id="bidu_PercentageOfEquityInterestInJointVentureTransferredFromThirdPartyEntity" name="PercentageOfEquityInterestInJointVentureTransferredFromThirdPartyEntity" type="us-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" />
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  <element id="bidu_RestrictedConsumerDeposits" name="RestrictedConsumerDeposits" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="instant" xbrli:balance="credit" />
  <element id="bidu_UnifiedStatutoryEnterpriseIncomeTaxRateUnderCurrentEITLaw" name="UnifiedStatutoryEnterpriseIncomeTaxRateUnderCurrentEITLaw" type="us-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
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  <element id="bidu_ReductionRateOnApplicableEnterpriseIncomeTaxRates" name="ReductionRateOnApplicableEnterpriseIncomeTaxRates" type="us-types:percentItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <element id="bidu_QualifiedHnteAfter2008Member" name="QualifiedHnteAfter2008Member" type="us-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <element id="bidu_QualifiedHnteGrantedWithTaxHolidayBefore2008AndVerifiedAsQualifiedHnteAfter2008Member" name="QualifiedHnteGrantedWithTaxHolidayBefore2008AndVerifiedAsQualifiedHnteAfter2008Member" type="us-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
  <element id="bidu_QualifiedHnteInTransitionalPeriodOfPreferentialReductionOfTaxRatesMember" name="QualifiedHnteInTransitionalPeriodOfPreferentialReductionOfTaxRatesMember" type="us-types:domainItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
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  <element id="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodFairValue" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" nillable="true" xbrli:periodType="duration" />
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</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>42
<FILENAME>bidu-20101231_cal.xml
<DESCRIPTION>EX-101 CALCULATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="no"?>
<!--XBRL document created with Bowne Tagger XBRL Enabler by Bowne Software version 10.0.0.34-->
<!--Based on XBRL 2.1-->
<!--Modified on: 3/29/2011 4:35:41 AM-->
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<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>43
<FILENAME>bidu-20101231_lab.xml
<DESCRIPTION>EX-101 LABELS LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii" standalone="no"?>
<!--Extended XBRL Label Linkbase created with Bowne Tagger XBRL Enabler by Bowne Software version 10.0.0.34-->
<!--Based on XBRL 2.1-->
<!--Modified on: 3/29/2011 4:53:42 AM-->
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostOfRevenue_lbl" xml:lang="en-US">Cost of Revenue</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_CostOfRevenue_lbl" xml:lang="en-US">Cost of revenues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CostOfRevenue_lbl" xml:lang="en-US">Cost of revenues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CostOfRevenue_lbl" xml:lang="en-US">Cost of revenues</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_SellingGeneralAndAdministrativeExpense" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SellingGeneralAndAdministrativeExpense" xlink:to="us-gaap_SellingGeneralAndAdministrativeExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Selling, General and Administrative Expense</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Selling, general and administrative</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Selling, general and administrative</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Selling, general and administrative</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ResearchAndDevelopmentExpense" xlink:label="us-gaap_ResearchAndDevelopmentExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResearchAndDevelopmentExpense" xlink:to="us-gaap_ResearchAndDevelopmentExpense_lbl" />
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    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negatedTotal" xlink:label="us-gaap_ResearchAndDevelopmentExpense_lbl" xml:lang="en-US">Research and development</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ResearchAndDevelopmentExpense_lbl" xml:lang="en-US">Research and development</label>
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    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CostsAndExpenses" xlink:label="us-gaap_CostsAndExpenses" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CostsAndExpenses_lbl" xml:lang="en-US">Total operating costs and expenses</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="us-gaap_OperatingIncomeLoss" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US">Operating profit</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="us-gaap_InvestmentIncomeInterest" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeInterest" xlink:to="us-gaap_InvestmentIncomeInterest_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentIncomeInterest_lbl" xml:lang="en-US">Interest income</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_lbl" xml:lang="en-US">Foreign exchange loss, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_lbl" xml:lang="en-US">Foreign Currency Transaction Gain (Loss), before Tax, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_lbl" xml:lang="en-US">Foreign exchange (loss) gain, net</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_NonoperatingIncomeExpense" xlink:label="us-gaap_NonoperatingIncomeExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpense" xlink:to="us-gaap_NonoperatingIncomeExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NonoperatingIncomeExpense_lbl" xml:lang="en-US">Total other income</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="us-gaap_IncomeTaxExpenseBenefit" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Income Tax Expense (Benefit)</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Income taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Taxation for the year</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_NetIncomeLoss" xlink:label="us-gaap_NetIncomeLoss" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Net income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Net income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Net income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Allocation of undistributed earnings</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="us-gaap_EarningsPerShareAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xml:lang="en-US">Earnings Per Share [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xml:lang="en-US">Earnings per share for Class A and Class B ordinary shares and Earnings per ADS (1 Class A ordinary share equals 10 ADSs):</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="us-gaap_EarningsPerShareBasic" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US">Earnings Per Share, Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US">Earnings per ADS - basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US">Earnings per share - basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US">Basic</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EarningsPerShareDiluted" xlink:label="us-gaap_EarningsPerShareDiluted" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDiluted" xlink:to="us-gaap_EarningsPerShareDiluted_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US">Earnings Per Share, Diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US">Earnings per ADS - diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US">Earnings per share - diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US">Diluted</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US">Weighted Average Number Of Shares Outstanding Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US">Weighted average ordinary shares outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US">Basic</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Liabilities and Stockholders' Equity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Total liabilities and shareholders' equity</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Total shareholders' equity</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US">Retained earnings</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US">Accumulated other comprehensive loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US">Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US">Accumulated other comprehensive loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_lbl" xml:lang="en-US">Accumulated other comprehensive loss</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Total liabilities</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_LiabilitiesNoncurrent" xlink:label="us-gaap_LiabilitiesNoncurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesNoncurrent" xlink:to="us-gaap_LiabilitiesNoncurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesNoncurrent_lbl" xml:lang="en-US">Total non-current liabilities</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:label="us-gaap_LiabilitiesCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xml:lang="en-US">Liabilities, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xml:lang="en-US">Total current liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xml:lang="en-US">Total current liabilities</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DeferredRevenueCurrent" xlink:label="us-gaap_DeferredRevenueCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredRevenueCurrent" xlink:to="us-gaap_DeferredRevenueCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredRevenueCurrent_lbl" xml:lang="en-US">Deferred Revenue Current</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US">Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US">TOTAL ASSETS</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AssetsNoncurrent" xlink:label="us-gaap_AssetsNoncurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsNoncurrent" xlink:to="us-gaap_AssetsNoncurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetsNoncurrent_lbl" xml:lang="en-US">Total non-current assets</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:label="us-gaap_OtherAssetsNoncurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsNoncurrent" xlink:to="us-gaap_OtherAssetsNoncurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssetsNoncurrent_lbl" xml:lang="en-US">Other Assets Noncurrent</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:label="us-gaap_DeferredTaxAssetsNetNoncurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsNetNoncurrent" xlink:to="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl" xml:lang="en-US">Deferred Tax Assets Net Noncurrent</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsNetExcludingGoodwill" xlink:to="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US">Intangible Assets, Net (Excluding Goodwill)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US">Intangible Assets, Net (Excluding Goodwill)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US">Intangible assets, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwill_lbl" xml:lang="en-US">Intangible assets, net</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:label="us-gaap_PropertyPlantAndEquipmentNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Fixed assets, net</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AssetsCurrent" xlink:label="us-gaap_AssetsCurrent" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US">Total current assets</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US">Cash and cash equivalents</label>
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    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease" />
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    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease_lbl" xml:lang="en-US">Foreign currency translation adjustment</label>
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    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl" xml:lang="en-US">Stock Issued During Period Value Stock Options Exercised</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl" xml:lang="en-US">Exercise of share-based awards</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xml:lang="en-US">Allowance for doubtful accounts</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negatedTotal" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xml:lang="en-US">Less: Allowance for doubtful accounts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xml:lang="en-US">Allowance for Doubtful Accounts Receivable, Current, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xml:lang="en-US">Allowance for Doubtful Accounts Receivable, Current, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xml:lang="en-US">Less: Allowance for doubtful accounts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xml:lang="en-US">Allowance for doubtful accounts receivable, current</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Par value per share (US$)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Common stock, par value per share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Common stock, par value per share (US$)</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="us-gaap_CommonStockSharesAuthorized" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US">Common stock, shares authorized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US">Registered capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US">Common stock, shares authorized</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="us-gaap_CommonStockSharesIssued" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Common stock, shares, issued</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="us-gaap_CommonStockSharesOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Common stock, shares, outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Ending Balance, shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Beginning Balance, shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Ordinary shares outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Common stock, shares outstanding</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CommonClassAMember" xlink:label="us-gaap_CommonClassAMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonClassAMember" xlink:to="us-gaap_CommonClassAMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonClassAMember_lbl" xml:lang="en-US">Class A Ordinary Shares</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CommonClassBMember" xlink:label="us-gaap_CommonClassBMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonClassBMember" xlink:to="us-gaap_CommonClassBMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonClassBMember_lbl" xml:lang="en-US">Class B Ordinary Shares</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AdjustmentForAmortization" xlink:label="us-gaap_AdjustmentForAmortization" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentForAmortization" xlink:to="us-gaap_AdjustmentForAmortization_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AdjustmentForAmortization_lbl" xml:lang="en-US">Amortization of intangible assets, land use right and long-term prepaid computer parts</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Deferred income tax benefit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Deferred Income Tax Expense (Benefit), Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Deferred tax assets, net</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="us-gaap_ShareBasedCompensation" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Share-based compensation</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="us-gaap_ProvisionForDoubtfulAccounts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProvisionForDoubtfulAccounts" xlink:to="us-gaap_ProvisionForDoubtfulAccounts_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl" xml:lang="en-US">Provision for doubtful accounts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl" xml:lang="en-US">Provision (reversal) for doubtful accounts</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl" xml:lang="en-US">Foreign exchange loss</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl" xml:lang="en-US">Foreign exchange loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl" xml:lang="en-US">Foreign exchange loss</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ImpairmentOfInvestments" xlink:label="us-gaap_ImpairmentOfInvestments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairmentOfInvestments" xlink:to="us-gaap_ImpairmentOfInvestments_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ImpairmentOfInvestments_lbl" xml:lang="en-US">Impairment on long-term investment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ImpairmentOfInvestments_lbl" xml:lang="en-US">Impairment charges on cost method long-term investments</label>
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    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US">Accounts receivable</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US">Accounts receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US">Accounts receivable</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" />
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInTradingSecurities" xlink:to="us-gaap_IncreaseDecreaseInTradingSecurities_lbl" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncreaseDecreaseInTradingSecurities_lbl" xml:lang="en-US">Trading securities</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash generated from operating activities</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired" xlink:to="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xml:lang="en-US">Acquisition of business</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireIntangibleAssets" xlink:to="us-gaap_PaymentsToAcquireIntangibleAssets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets_lbl" xml:lang="en-US">Acquisition of intangible assets</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_PaymentsToDevelopSoftware" xlink:label="us-gaap_PaymentsToDevelopSoftware" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToDevelopSoftware" xlink:to="us-gaap_PaymentsToDevelopSoftware_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToDevelopSoftware_lbl" xml:lang="en-US">Capitalization of software costs</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_PaymentsToAcquireOtherInvestments" xlink:label="us-gaap_PaymentsToAcquireOtherInvestments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireOtherInvestments" xlink:to="us-gaap_PaymentsToAcquireOtherInvestments_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireOtherInvestments_lbl" xml:lang="en-US">Acquisition of long-term investments</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsToAcquireOtherInvestments_lbl" xml:lang="en-US">Purchases of long-term investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PaymentsToAcquireOtherInvestments_lbl" xml:lang="en-US">Acquisition of long-term investments</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net cash used in investing activities</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:label="us-gaap_ProceedsFromStockOptionsExercised" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromStockOptionsExercised" xlink:to="us-gaap_ProceedsFromStockOptionsExercised_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromStockOptionsExercised_lbl" xml:lang="en-US">Proceeds from exercise of share options</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ProceedsFromStockOptionsExercised_lbl" xml:lang="en-US">Proceeds from exercise of share options</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash (used in) generated from financing activities</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents" xlink:to="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_lbl" xml:lang="en-US">Effect of exchange rate changes on cash and cash equivalents</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US">Net increase in cash and cash equivalents</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US">Supplemental disclosures:</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired" xlink:to="us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired_lbl" xml:lang="en-US">Fixed asset acquisitions included in accrued expense and other liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired_lbl" xml:lang="en-US">Fixed asset acquisitions included in accounts payable and accrued liabilities</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncomeTaxesPaidNet" xlink:label="us-gaap_IncomeTaxesPaidNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxesPaidNet" xlink:to="us-gaap_IncomeTaxesPaidNet_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxesPaidNet_lbl" xml:lang="en-US">Income Taxes Paid, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeTaxesPaidNet_lbl" xml:lang="en-US">Income taxes paid/(received), net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncomeTaxesPaidNet_lbl" xml:lang="en-US">Income taxes paid, net</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionOtherAssetsAcquired" xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionOtherAssetsAcquired" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncashOrPartNoncashAcquisitionOtherAssetsAcquired" xlink:to="us-gaap_NoncashOrPartNoncashAcquisitionOtherAssetsAcquired_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionOtherAssetsAcquired_lbl" xml:lang="en-US">Other non-current assets acquisitions included in accrued expense and other liabilities</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionInvestmentsAcquired" xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionInvestmentsAcquired" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncashOrPartNoncashAcquisitionInvestmentsAcquired" xlink:to="us-gaap_NoncashOrPartNoncashAcquisitionInvestmentsAcquired_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionInvestmentsAcquired_lbl" xml:lang="en-US">Non-cash acquisitions of long-term investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionInvestmentsAcquired_lbl" xml:lang="en-US">Non-cash acquisitions of investments</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="us-gaap_AssetsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsAbstract_lbl" xml:lang="en-US">Assets [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AssetsAbstract_lbl" xml:lang="en-US">ASSETS</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:label="us-gaap_AssetsCurrentAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_AssetsCurrentAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xml:lang="en-US">Current assets:</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_GoodwillAndIntangibleAssetsAbstract" xlink:label="bidu_GoodwillAndIntangibleAssetsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_GoodwillAndIntangibleAssetsAbstract" xlink:to="bidu_GoodwillAndIntangibleAssetsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_GoodwillAndIntangibleAssetsAbstract_lbl" xml:lang="en-US">Goodwill and Intangible Assets [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_GoodwillAndIntangibleAssetsAbstract_lbl" xml:lang="en-US">Goodwill And Intangible Assets</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_CommitmentsAndContingenciesAbstract" xlink:label="bidu_CommitmentsAndContingenciesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_CommitmentsAndContingenciesAbstract" xlink:to="bidu_CommitmentsAndContingenciesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_CommitmentsAndContingenciesAbstract_lbl" xml:lang="en-US">Commitments and Contingencies [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_CommitmentsAndContingenciesAbstract_lbl" xml:lang="en-US">Commitments and Contingencies.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_RelatedPartyTransactionsAbstract" xlink:label="bidu_RelatedPartyTransactionsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_RelatedPartyTransactionsAbstract" xlink:to="bidu_RelatedPartyTransactionsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_RelatedPartyTransactionsAbstract_lbl" xml:lang="en-US">Related Party Transactions [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_RelatedPartyTransactionsAbstract_lbl" xml:lang="en-US">Related Party Transactions.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SegmentReportingAbstract" xlink:label="bidu_SegmentReportingAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SegmentReportingAbstract" xlink:to="bidu_SegmentReportingAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SegmentReportingAbstract_lbl" xml:lang="en-US">Segment Reporting [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SegmentReportingAbstract_lbl" xml:lang="en-US">Segment Reporting.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_FairValueMeasurementAbstract" xlink:label="bidu_FairValueMeasurementAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_FairValueMeasurementAbstract" xlink:to="bidu_FairValueMeasurementAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_FairValueMeasurementAbstract_lbl" xml:lang="en-US">Fair Value Measurement [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_FairValueMeasurementAbstract_lbl" xml:lang="en-US">Fair Value Measurement.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SubsequentEventsAbstract" xlink:label="bidu_SubsequentEventsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SubsequentEventsAbstract" xlink:to="bidu_SubsequentEventsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SubsequentEventsAbstract_lbl" xml:lang="en-US">Subsequent Events Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SubsequentEventsAbstract_lbl" xml:lang="en-US">Subsequent Events.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SummaryOfSignificantAccountingPoliciesAbstract" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SummaryOfSignificantAccountingPoliciesAbstract" xlink:to="bidu_SummaryOfSignificantAccountingPoliciesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesAbstract_lbl" xml:lang="en-US">Summary of Significant Accounting Policies [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesAbstract_lbl" xml:lang="en-US">Summary Of Significant Accounting Policies.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock" />
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSubsequentEventsTextBlock" xlink:to="us-gaap_ScheduleOfSubsequentEventsTextBlock_lbl" />
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingDisclosureTextBlock" xlink:to="us-gaap_SegmentReportingDisclosureTextBlock_lbl" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IncreaseDecreaseInDeferredIncome_lbl" xml:lang="en-US">Increase Decrease In Deferred Income</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US">Ordinary Shares</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalMember" xlink:to="us-gaap_AdditionalPaidInCapitalMember_lbl" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from operating activities:</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xml:lang="en-US">Changes in operating assets and liabilities net of effects of acquisition:</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from investing activities:</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bidu_SubsequentEventsAbstract_lbl" xml:lang="en-US">Subsequent Events [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_SubsequentEventsAbstract_lbl" xml:lang="en-US">Subsequent Events (Unaudited) [Abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_SegmentReportingAbstract_lbl" xml:lang="en-US">Segment Reporting [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_RelatedPartyTransactionsAbstract_lbl" xml:lang="en-US">Related Party Transactions [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_CommitmentsAndContingenciesAbstract_lbl" xml:lang="en-US">Commitments and Contingencies [Abstract]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xml:lang="en-US">Fixed Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesAbstract_lbl" xml:lang="en-US">Summary of Significant Accounting Policies [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DeferredTaxAssetsNetCurrent_lbl" xml:lang="en-US">Deferred tax assets, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Fixed assets, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Property, Plant and Equipment, Net, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Property, Plant and Equipment, Net, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Property, Plant and Equipment, Net</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherSalesRevenueNet_lbl" xml:lang="en-US">Other services</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AdjustmentForAmortization_lbl" xml:lang="en-US">Amortization of intangible assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentForAmortization_lbl" xml:lang="en-US">Adjustment for Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Share-based compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Share-based Compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xml:lang="en-US">Acquisition of business</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xml:lang="en-US">Payments to Acquire Businesses, Net of Cash Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_lbl" xml:lang="en-US">Effect of exchange rate changes on cash and cash equivalents</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents_lbl" xml:lang="en-US">Effect of Exchange Rate on Cash and Cash Equivalents</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US">Net increase in cash and cash equivalents</label>
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    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:label="us-gaap_LiabilitiesCurrentAbstract" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xml:lang="en-US">Liabilities, Current [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xml:lang="en-US">Current liabilities:</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="us-gaap_StockholdersEquityAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">Stockholders Equity Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">Shareholders' equity</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negatedTotal" xlink:label="us-gaap_CostsAndExpenses_lbl" xml:lang="en-US">Total operating costs and expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostsAndExpenses_lbl" xml:lang="en-US">Costs and Expenses</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired_lbl" xml:lang="en-US">Acquisition of business</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets_lbl" xml:lang="en-US">Acquisition of intangible assets</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsToAcquireIntangibleAssets_lbl" xml:lang="en-US">Acquisition of intangible assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PaymentsToDevelopSoftware_lbl" xml:lang="en-US">Capitalization of software costs</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsToDevelopSoftware_lbl" xml:lang="en-US">Capitalization of software costs</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AssetsNoncurrentAbstract" xlink:label="us-gaap_AssetsNoncurrentAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsNoncurrentAbstract" xlink:to="us-gaap_AssetsNoncurrentAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsNoncurrentAbstract_lbl" xml:lang="en-US">Non-current assets:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xml:lang="en-US">Current assets:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AssetsNoncurrentAbstract_lbl" xml:lang="en-US">Non-current assets:</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_Goodwill" xlink:label="us-gaap_Goodwill" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Goodwill" xlink:to="us-gaap_Goodwill_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_Goodwill_lbl" xml:lang="en-US">Goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_Goodwill_lbl" xml:lang="en-US">Goodwill, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_Goodwill_lbl" xml:lang="en-US">Goodwill, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Goodwill_lbl" xml:lang="en-US">Goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl" xml:lang="en-US">Deferred tax assets, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl" xml:lang="en-US">Deferred Tax Assets, Net, Noncurrent, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xml:lang="en-US">Current liabilities:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredRevenueCurrent_lbl" xml:lang="en-US">Deferred revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DeferredRevenueCurrent_lbl" xml:lang="en-US">Deferred Revenue, Current, Total</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CommitmentsAndContingencies2009" xlink:label="us-gaap_CommitmentsAndContingencies2009" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies2009" xlink:to="us-gaap_CommitmentsAndContingencies2009_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommitmentsAndContingencies2009_lbl" xml:lang="en-US">Commitments and contingencies</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingencies2009_lbl" xml:lang="en-US">Commitments and Contingencies 2009</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Common stock, shares issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Common Stock, Shares, Issued, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US">Revenues:</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US">LIABILITIES AND SHAREHOLDERS' EQUITY</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US">Liabilities and Stockholders' Equity [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AdvertisingRevenue_lbl" xml:lang="en-US">Online marketing services</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InvestmentIncomeInterest_lbl" xml:lang="en-US">Interest income</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_LiabilitiesNoncurrentAbstract" xlink:label="us-gaap_LiabilitiesNoncurrentAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesNoncurrentAbstract" xlink:to="us-gaap_LiabilitiesNoncurrentAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LiabilitiesNoncurrentAbstract_lbl" xml:lang="en-US">Non-current liabilities:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesNoncurrentAbstract_lbl" xml:lang="en-US">Liabilities, Noncurrent [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from operating activities:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xml:lang="en-US">Changes in operating assets and liabilities net of effects of acquisition:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue_lbl" xml:lang="en-US">Deferred revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from investing activities:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from financing activities:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US">Supplemental disclosures:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionOtherAssetsAcquired_lbl" xml:lang="en-US">Other non-current assets acquisitions included in accounts payable and accrued liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xml:lang="en-US">Exercise of share-based awards, shares</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EmployeeDefinedContributionPlanAbstract" xlink:label="bidu_EmployeeDefinedContributionPlanAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EmployeeDefinedContributionPlanAbstract" xlink:to="bidu_EmployeeDefinedContributionPlanAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EmployeeDefinedContributionPlanAbstract_lbl" xml:lang="en-US">Employee Defined Contribution Plan [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_EmployeeDefinedContributionPlanAbstract_lbl" xml:lang="en-US">Employee Defined Contribution Plan[Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EmployeeDefinedContributionPlanAbstract_lbl" xml:lang="en-US">Employee Defined Contribution Plan.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DueFromRelatedPartiesCurrent" xlink:label="us-gaap_DueFromRelatedPartiesCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueFromRelatedPartiesCurrent" xlink:to="us-gaap_DueFromRelatedPartiesCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DueFromRelatedPartiesCurrent_lbl" xml:lang="en-US">Due from Related Parties, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_DueFromRelatedPartiesCurrent_lbl" xml:lang="en-US">Due from Related Parties, Current, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DueFromRelatedPartiesCurrent_lbl" xml:lang="en-US">Due from related parties</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CustomerAdvancesAndDepositsCurrent" xlink:label="us-gaap_CustomerAdvancesAndDepositsCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerAdvancesAndDepositsCurrent" xlink:to="us-gaap_CustomerAdvancesAndDepositsCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CustomerAdvancesAndDepositsCurrent_lbl" xml:lang="en-US">Customer Advances and Deposits, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CustomerAdvancesAndDepositsCurrent_lbl" xml:lang="en-US">Customer Advances and Deposits, Current, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CustomerAdvancesAndDepositsCurrent_lbl" xml:lang="en-US">Customer advances and deposits</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Accounts payable and accrued liabilities, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Accounts payable and accrued liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Accounts payable and accrued liabilities</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US">Denominator used for earnings per share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US">Weighted Average Number Of Diluted Shares Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US">Diluted</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to reconcile net income to net cash generated from operating activities:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xlink:label="us-gaap_GainLossOnSaleOfPropertyPlantEquipment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xlink:to="us-gaap_GainLossOnSaleOfPropertyPlantEquipment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnSaleOfPropertyPlantEquipment_lbl" xml:lang="en-US">Gain (Loss) on Sale of Property Plant Equipment</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_GainLossOnSaleOfPropertyPlantEquipment_lbl" xml:lang="en-US">Fixed assets written off</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_GainLossOnSaleOfPropertyPlantEquipment_lbl" xml:lang="en-US">Gain (Loss) on Sale of Property Plant Equipment, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GainLossOnSaleOfPropertyPlantEquipment_lbl" xml:lang="en-US">Fixed assets written off</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Payments to Acquire Property, Plant, and Equipment, Total</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Acquisition of fixed assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Payments to Acquire Property, Plant, and Equipment</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US">Increase (Decrease) in Accounts Payable and Accrued Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US">Accounts payable and accrued liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US">Increase (Decrease) in Accounts Payable and Accrued Liabilities, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl" xml:lang="en-US">Accounts payable and accrued liabilities, current</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_GainLossOnInvestments" xlink:label="us-gaap_GainLossOnInvestments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GainLossOnInvestments" xlink:to="us-gaap_GainLossOnInvestments_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GainLossOnInvestments_lbl" xml:lang="en-US">Gain (Loss) on Investments</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_GainLossOnInvestments_lbl" xml:lang="en-US">Gain on investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_GainLossOnInvestments_lbl" xml:lang="en-US">Gain (Loss) on Investments, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GainLossOnInvestments_lbl" xml:lang="en-US">Interest income from short-term investments</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment" xlink:label="us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment_lbl" />
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment_lbl" xml:lang="en-US">Acquisition of long-term prepaid computer parts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment_lbl" xml:lang="en-US">Payments to Acquire Other Property, Plant, and Equipment</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl" xml:lang="en-US">Accounts Payable and Accrued Liabilities Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl" xml:lang="en-US">ACCOUNTS PAYABLE AND ACCRUED LIABILITIES</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_lbl" xml:lang="en-US">Share-based compensation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_lbl" xml:lang="en-US">Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition, Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_lbl" xml:lang="en-US">ORGANIZATION, CONSOLIDATION AND PRESENTATION OF FINANCIAL STATEMENTS</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:label="us-gaap_OtherAssetsCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAssetsCurrent" xlink:to="us-gaap_OtherAssetsCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherAssetsCurrent_lbl" xml:lang="en-US">Other assets, current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherAssetsCurrent_lbl" xml:lang="en-US">Other assets, current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherAssetsCurrent_lbl" xml:lang="en-US">Other assets, current</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negatedTotal" xlink:label="us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment_lbl" xml:lang="en-US">Acquisition of long-term prepaid computer parts</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/non-gaap/dei-2009-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/non-gaap/dei-2009-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/non-gaap/dei-2009-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/non-gaap/dei-2009-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/non-gaap/dei-2009-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/non-gaap/dei-2009-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/non-gaap/dei-2009-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well-known Seasoned Issuer</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/non-gaap/dei-2009-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/non-gaap/dei-2009-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/non-gaap/dei-2009-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US">Statement [Table]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US">Statement [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US">Assets, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsNoncurrent_lbl" xml:lang="en-US">Assets, Noncurrent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesNoncurrent_lbl" xml:lang="en-US">Liabilities, Noncurrent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">Liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US">Retained Earnings (Accumulated Deficit)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Stockholders' Equity Attributable to Parent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US">Operating Income (Loss)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonoperatingIncomeExpense_lbl" xml:lang="en-US">Nonoperating Income (Expense)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_StatementEquityComponentsAxis" xlink:label="us-gaap_StatementEquityComponentsAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xml:lang="en-US">Statement, Equity Components [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EquityComponentDomain" xlink:label="us-gaap_EquityComponentDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_EquityComponentDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityComponentDomain_lbl" xml:lang="en-US">Equity Component [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="us-gaap_StatementClassOfStockAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementClassOfStockAxis_lbl" xml:lang="en-US">Class of Stock [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="us-gaap_ClassOfStockDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="us-gaap_ClassOfStockDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ClassOfStockDomain_lbl" xml:lang="en-US">Class of Stock [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="us-gaap_AdditionalPaidInCapital" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapital" xlink:to="us-gaap_AdditionalPaidInCapital_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US">Additional Paid in Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US">Additional Paid in Capital, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US">Additional Paid in Capital, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US">Additional Paid in Capital, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US">Additional paid-in capital</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CostsAndExpensesAbstract" xlink:label="us-gaap_CostsAndExpensesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostsAndExpensesAbstract" xlink:to="us-gaap_CostsAndExpensesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CostsAndExpensesAbstract_lbl" xml:lang="en-US">Operating costs and expenses:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostsAndExpensesAbstract_lbl" xml:lang="en-US">Costs and Expenses [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_NonoperatingIncomeExpenseAbstract" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" xml:lang="en-US">Other income:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" xml:lang="en-US">Nonoperating Income (Expense) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense" xlink:label="us-gaap_OtherNonoperatingIncomeExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNonoperatingIncomeExpense" xlink:to="us-gaap_OtherNonoperatingIncomeExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_lbl" xml:lang="en-US">Other income, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_lbl" xml:lang="en-US">Other Nonoperating Income (Expense)</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent" xlink:label="us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent" xlink:to="us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent_lbl" xml:lang="en-US">Increase (Decrease) in Due from Related Parties, Current</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent_lbl" xml:lang="en-US">Due from related parties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent_lbl" xml:lang="en-US">Increase (Decrease) in Due from Related Parties, Current, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent_lbl" xml:lang="en-US">Receivables from a shareholder</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_IncreaseDecreaseInCustomerAdvancesAndDepositsCurrent" xlink:label="bidu_IncreaseDecreaseInCustomerAdvancesAndDepositsCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_IncreaseDecreaseInCustomerAdvancesAndDepositsCurrent" xlink:to="bidu_IncreaseDecreaseInCustomerAdvancesAndDepositsCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IncreaseDecreaseInCustomerAdvancesAndDepositsCurrent_lbl" xml:lang="en-US">Increase Decrease In Customer Advances And Deposits Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_IncreaseDecreaseInCustomerAdvancesAndDepositsCurrent_lbl" xml:lang="en-US">Customer advances and deposits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_IncreaseDecreaseInCustomerAdvancesAndDepositsCurrent_lbl" xml:lang="en-US">The net change during the period in the amount of the current portion, due within one year or one operating cycle, if longer, of aggregate prepayments received from customers for goods or services to be provided in the future, as well as the current portion of money or property received from customers that are to be returned upon satisfactory contract completion or as partial prepayment for goods or services to be provided in the future.</label>
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    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="us-gaap_PaymentsToAcquireHeldToMaturitySecurities_lbl" xml:lang="en-US">Purchases of short-term investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PaymentsToAcquireHeldToMaturitySecurities_lbl" xml:lang="en-US">Purchases of held-to-maturity securities</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNetAbstract" xlink:label="us-gaap_PropertyPlantAndEquipmentNetAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNetAbstract" xlink:to="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl" xml:lang="en-US">Fixed Assets [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl" xml:lang="en-US">Fixed Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl" xml:lang="en-US">Fixed Assets [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common Stock, Value, Issued</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficitAbstract" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficitAbstract" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficitAbstract_lbl" xml:lang="en-US">Retained Earnings (Accumulated Deficit) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficitAbstract_lbl" xml:lang="en-US">Retained Earnings</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AccountsReceivableNetAbstract" xlink:label="us-gaap_AccountsReceivableNetAbstract" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common Stock, Value, Issued, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common Stock, Value, Issued, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common Stock, Value, Issued, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AccountsReceivableNetAbstract_lbl" xml:lang="en-US">Accounts Receivable [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xml:lang="en-US">FIXED ASSETS</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock" xlink:label="us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock" xlink:to="us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_lbl" xml:lang="en-US">Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock_lbl" xml:lang="en-US">OTHER ASSETS, CURRENT</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_ComprehensiveIncomeNetOfTax_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xml:lang="en-US">Total comprehensive income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xml:lang="en-US">Total comprehensive income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl" xml:lang="en-US">Comprehensive Income, Net of Tax, Attributable to Parent</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="us-gaap_StatementOfFinancialPositionAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfFinancialPositionAbstract" xlink:to="lab_StatementOfFinancialPositionAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_StatementOfFinancialPositionAbstract" xml:lang="en-US">Consolidated Balance Sheets [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="us-gaap_StatementOfCashFlowsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="lab_StatementOfCashFlowsAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_StatementOfCashFlowsAbstract" xml:lang="en-US">Consolidated Statements of Cash Flows [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="us-gaap_IncomeStatementAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="lab_IncomeStatementAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncomeStatementAbstract" xml:lang="en-US">Consolidated Statements of Income [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OtherLongTermDebtNoncurrent" xlink:label="us-gaap_OtherLongTermDebtNoncurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLongTermDebtNoncurrent" xlink:to="lab_OtherLongTermDebtNoncurrent" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_OtherLongTermDebtNoncurrent" xml:lang="en-US">Long-term payable for business acquisition</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OtherLongTermDebtNoncurrent" xml:lang="en-US">Other Long-term Debt, Noncurrent</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_Depreciation" xlink:label="us-gaap_Depreciation" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_Depreciation" xml:lang="en-US">Depreciation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_Depreciation" xml:lang="en-US">Depreciation, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_Depreciation" xml:lang="en-US">Depreciation of fixed assets and others</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncomeTaxExpenseBenefitAbstract" xlink:label="us-gaap_IncomeTaxExpenseBenefitAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefitAbstract" xlink:to="lab_IncomeTaxExpenseBenefitAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncomeTaxExpenseBenefitAbstract" xml:lang="en-US">Income Taxes [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IncomeTaxExpenseBenefitAbstract" xml:lang="en-US">Components of income tax</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationAbstract" xlink:label="us-gaap_ShareBasedCompensationAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationAbstract" xlink:to="lab_ShareBasedCompensationAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationAbstract" xml:lang="en-US">Share-Based Awards Plan [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_GeneralPoliciesAbstract" xlink:label="us-gaap_GeneralPoliciesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GeneralPoliciesAbstract" xlink:to="lab_GeneralPoliciesAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_GeneralPoliciesAbstract" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="lab_StatementOfStockholdersEquityAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_StatementOfStockholdersEquityAbstract" xml:lang="en-US">Consolidated Statements of Shareholders' Equity [Abstract]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_DocumentAndEntityInformationAbstract" xlink:label="bidu_DocumentAndEntityInformationAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_DocumentAndEntityInformationAbstract" xlink:to="bidu_DocumentAndEntityInformationAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_DocumentAndEntityInformationAbstract_lbl" xml:lang="en-US">Document and Entity Information [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_DocumentAndEntityInformationAbstract_lbl" xml:lang="en-US">Document And Company Information.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ParentMember" xlink:label="us-gaap_ParentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ParentMember" xlink:to="lab_ParentMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ParentMember" xml:lang="en-US">Parent [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredRevenueCurrent_lbl" xml:lang="en-US">Deferred revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInDeferredRevenue_lbl" xml:lang="en-US">Deferred revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredTaxAssetsNetCurrent_lbl" xml:lang="en-US">Deferred tax assets, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredTaxAssetsNetNoncurrent_lbl" xml:lang="en-US">Deferred tax assets, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommitmentsAndContingencies2009_lbl" xml:lang="en-US">Commitments and Contingencies</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IncomeLossFromEquityMethodInvestments" xml:lang="en-US">Loss from equity method investment</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncomeLossFromEquityMethodInvestments" xml:lang="en-US">Income (Loss) from Equity Method Investments</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xml:lang="en-US">Weighted average number of Class A and Class B ordinary shares outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted, Disclosure Items [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAbstract" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAbstract" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AccountsPayableAndAccruedLiabilitiesCurrentAbstract" xml:lang="en-US">Accounts Payable and Accrued Liabilities [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_AccountsPayableAndAccruedLiabilitiesCurrentAbstract" xml:lang="en-US">Accounts payable and accrued liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock_lbl" xml:lang="en-US">GOODWILL AND INTANGIBLE ASSETS</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_SegmentReportingDisclosureTextBlock_lbl" xml:lang="en-US">SEGMENT REPORTING</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_StockRepurchasedAndRetiredDuringPeriodValue" xml:lang="en-US">Stock Repurchased and Retired During Period, Value</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares" xlink:to="lab_StockRepurchasedAndRetiredDuringPeriodShares" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_StockRepurchasedAndRetiredDuringPeriodShares" xml:lang="en-US">Stock Repurchased and Retired During Period, Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_StockRepurchasedAndRetiredDuringPeriodShares" xml:lang="en-US">Repurchase of ordinary shares, shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_StockRepurchasedAndRetiredDuringPeriodShares" xml:lang="en-US">Repurchase of ordinary shares, shares</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="lab_IncomeLossFromEquityMethodInvestments" xml:lang="en-US">Loss from equity method investments</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares" xlink:label="bidu_CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares" xlink:to="bidu_CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares_lbl" xml:lang="en-US">Cash Inflow Outflow From Structured Repurchase Program Of Ordinary Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bidu_CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares_lbl" xml:lang="en-US">Structured share repurchase</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bidu_CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares_lbl" xml:lang="en-US">Structured share repurchase</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares_lbl" xml:lang="en-US">Structured share repurchase, net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares_lbl" xml:lang="en-US">Cash inflow or outflow from structured repurchase program of ordinary shares under which an upfront cash payment is made by the Entity in exchange for the right to receive the Entity's own ordinary shares or cash at a pre-determined amount at the expiration of the agreement, depending on whether the closing price of the Entity's ordinary share at the maturity date is below an appointed price.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAbstract" xlink:label="us-gaap_ComprehensiveIncomeNetOfTaxAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNetOfTaxAbstract" xlink:to="lab_ComprehensiveIncomeNetOfTaxAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ComprehensiveIncomeNetOfTaxAbstract" xml:lang="en-US">Comprehensive income:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ComprehensiveIncomeNetOfTaxAbstract" xml:lang="en-US">Comprehensive Income, Net of Tax, Attributable to Parent [Abstract]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EmployeeDefinedContributionPlanDisclosureTextBlock" xlink:label="bidu_EmployeeDefinedContributionPlanDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EmployeeDefinedContributionPlanDisclosureTextBlock" xlink:to="bidu_EmployeeDefinedContributionPlanDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EmployeeDefinedContributionPlanDisclosureTextBlock_lbl" xml:lang="en-US">Employee Defined Contribution Plan Disclosure Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_EmployeeDefinedContributionPlanDisclosureTextBlock_lbl" xml:lang="en-US">EMPLOYEE DEFINED CONTRIBUTION PLAN</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EmployeeDefinedContributionPlanDisclosureTextBlock_lbl" xml:lang="en-US">Full time employees of the Group in the PRC participate in a government mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_AccountsReceivableTablesAbstract" xlink:label="bidu_AccountsReceivableTablesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_AccountsReceivableTablesAbstract" xlink:to="bidu_AccountsReceivableTablesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_AccountsReceivableTablesAbstract_lbl" xml:lang="en-US">Accounts Receivable (Tables) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_AccountsReceivableTablesAbstract_lbl" xml:lang="en-US">Accounts Receivable.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:label="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:to="lab_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xml:lang="en-US">Accounts Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xml:lang="en-US">Schedule of Accounts, Notes, Loans and Financing Receivable [Text Block]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_AccountsReceivableDetailsAbstract" xlink:label="bidu_AccountsReceivableDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_AccountsReceivableDetailsAbstract" xlink:to="bidu_AccountsReceivableDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_AccountsReceivableDetailsAbstract_lbl" xml:lang="en-US">Accounts Receivable (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_AccountsReceivableDetailsAbstract_lbl" xml:lang="en-US">Accounts receivable.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AccountsReceivableGrossCurrent" xlink:label="us-gaap_AccountsReceivableGrossCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableGrossCurrent" xlink:to="lab_AccountsReceivableGrossCurrent" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AccountsReceivableGrossCurrent" xml:lang="en-US">Accounts Receivable, Gross, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_AccountsReceivableGrossCurrent" xml:lang="en-US">Accounts receivable</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AccountsReceivableNetCurrentAbstract" xlink:label="us-gaap_AccountsReceivableNetCurrentAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNetCurrentAbstract" xlink:to="lab_AccountsReceivableNetCurrentAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_AccountsReceivableNetCurrentAbstract" xml:lang="en-US">Accounts Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AccountsReceivableNetCurrentAbstract" xml:lang="en-US">Accounts Receivable, Net, Current [Abstract]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_CommitmentsAndContingenciesTablesAbstract" xlink:label="bidu_CommitmentsAndContingenciesTablesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_CommitmentsAndContingenciesTablesAbstract" xlink:to="bidu_CommitmentsAndContingenciesTablesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_CommitmentsAndContingenciesTablesAbstract_lbl" xml:lang="en-US">Commitments and Contingencies (Tables) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_CommitmentsAndContingenciesTablesAbstract_lbl" xml:lang="en-US">Commitments And Contingencies.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_CommitmentsAndContingenciesDetailsAbstract" xlink:label="bidu_CommitmentsAndContingenciesDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_CommitmentsAndContingenciesDetailsAbstract" xlink:to="bidu_CommitmentsAndContingenciesDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_CommitmentsAndContingenciesDetailsAbstract_lbl" xml:lang="en-US">Commitments and Contingencies (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_CommitmentsAndContingenciesDetailsAbstract_lbl" xml:lang="en-US">Commitments And Contingencies.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EmployeeDefinedContributionPlanDetailsAbstract" xlink:label="bidu_EmployeeDefinedContributionPlanDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EmployeeDefinedContributionPlanDetailsAbstract" xlink:to="bidu_EmployeeDefinedContributionPlanDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EmployeeDefinedContributionPlanDetailsAbstract_lbl" xml:lang="en-US">Employee Defined Contribution Plan (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EmployeeDefinedContributionPlanDetailsAbstract_lbl" xml:lang="en-US">Employee Defined Contribution Plan.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EmployeeDefinedContributionPlanTextualsAbstract" xlink:label="bidu_EmployeeDefinedContributionPlanTextualsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EmployeeDefinedContributionPlanTextualsAbstract" xlink:to="bidu_EmployeeDefinedContributionPlanTextualsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EmployeeDefinedContributionPlanTextualsAbstract_lbl" xml:lang="en-US">Employee Defined Contribution Plan Textuals Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EmployeeDefinedContributionPlanTextualsAbstract_lbl" xml:lang="en-US">Employee Defined Contribution Plan.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_EmployeeDefinedContributionPlanTextualsAbstract_lbl" xml:lang="en-US">Employee Defined Contribution Plan (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_CommitmentsAndContingenciesTextualsAbstract" xlink:label="bidu_CommitmentsAndContingenciesTextualsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_CommitmentsAndContingenciesTextualsAbstract" xlink:to="bidu_CommitmentsAndContingenciesTextualsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_CommitmentsAndContingenciesTextualsAbstract_lbl" xml:lang="en-US">Commitments and Contingencies Textuals Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_CommitmentsAndContingenciesTextualsAbstract_lbl" xml:lang="en-US">Commitments and Contingencies (Textuals) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_CommitmentsAndContingenciesTextualsAbstract_lbl" xml:lang="en-US">Commitments And Contingencies.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_HeldToMaturitySecuritiesTextBlock" xlink:label="us-gaap_HeldToMaturitySecuritiesTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HeldToMaturitySecuritiesTextBlock" xlink:to="lab_HeldToMaturitySecuritiesTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_HeldToMaturitySecuritiesTextBlock" xml:lang="en-US">Short-Term Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_HeldToMaturitySecuritiesTextBlock" xml:lang="en-US">Held-to-maturity Securities [Text Block]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ShortTermInvestmentGainsAndInterestIncome" xlink:label="bidu_ShortTermInvestmentGainsAndInterestIncome" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ShortTermInvestmentGainsAndInterestIncome" xlink:to="bidu_ShortTermInvestmentGainsAndInterestIncome_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ShortTermInvestmentGainsAndInterestIncome_lbl" xml:lang="en-US">Short-term investment gains and interest income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ShortTermInvestmentGainsAndInterestIncome_lbl" xml:lang="en-US">Short-term investment gains and interest income.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ShortTermInvestmentGainsAndInterestIncome_lbl" xml:lang="en-US">Short-term investment gains and interest income</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_OrganizationConsolidationAndPresentationOfFinancialStatementsDetailsAbstract" xlink:label="bidu_OrganizationConsolidationAndPresentationOfFinancialStatementsDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_OrganizationConsolidationAndPresentationOfFinancialStatementsDetailsAbstract" xlink:to="bidu_OrganizationConsolidationAndPresentationOfFinancialStatementsDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_OrganizationConsolidationAndPresentationOfFinancialStatementsDetailsAbstract_lbl" xml:lang="en-US">Organization, Consolidation and Presentation of Financial Statements (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_OrganizationConsolidationAndPresentationOfFinancialStatementsDetailsAbstract_lbl" xml:lang="en-US">Organization, Consolidation And Presentation Of Financial Statements.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_OrganizationConsolidationAndPresentationOfFinancialStatementsTextualsAbstract" xlink:label="bidu_OrganizationConsolidationAndPresentationOfFinancialStatementsTextualsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_OrganizationConsolidationAndPresentationOfFinancialStatementsTextualsAbstract" xlink:to="bidu_OrganizationConsolidationAndPresentationOfFinancialStatementsTextualsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_OrganizationConsolidationAndPresentationOfFinancialStatementsTextualsAbstract_lbl" xml:lang="en-US">Organization, Consolidation And Presentation Of Financial Statements Textuals Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_OrganizationConsolidationAndPresentationOfFinancialStatementsTextualsAbstract_lbl" xml:lang="en-US">Organization, Consolidation And Presentation Of Financial Statements (Textuals) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_OrganizationConsolidationAndPresentationOfFinancialStatementsTextualsAbstract_lbl" xml:lang="en-US">Organization, Consolidation And Presentation Of Financial Statements.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/non-gaap/dei-2009-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="lab_LegalEntityAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_LegalEntityAxis" xml:lang="en-US">Legal Entity [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/non-gaap/dei-2009-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="lab_EntityDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EntityDomain" xml:lang="en-US">Entity [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_VariableInterestCarryingAmountAssets" xlink:label="us-gaap_VariableInterestCarryingAmountAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableInterestCarryingAmountAssets" xlink:to="lab_VariableInterestCarryingAmountAssets" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_VariableInterestCarryingAmountAssets" xml:lang="en-US">Variable Interest, Carrying Amount, Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_VariableInterestCarryingAmountAssets" xml:lang="en-US">Carrying amount of the total assets of Variable Interest Entity</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_VariableInterestCarryingAmount" xlink:label="us-gaap_VariableInterestCarryingAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VariableInterestCarryingAmount" xlink:to="lab_VariableInterestCarryingAmount" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_VariableInterestCarryingAmount" xml:lang="en-US">Variable Interest, Carrying Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_VariableInterestCarryingAmount" xml:lang="en-US">Variable Interest, Carrying Amount, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_VariableInterestCarryingAmount" xml:lang="en-US">Net assets of VIEs (in which the Company has no legal ownership)</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_HeldToMaturitySecuritiesUnrecognizedHoldingGains" xlink:label="us-gaap_HeldToMaturitySecuritiesUnrecognizedHoldingGains" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HeldToMaturitySecuritiesUnrecognizedHoldingGains" xlink:to="lab_HeldToMaturitySecuritiesUnrecognizedHoldingGains" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_HeldToMaturitySecuritiesUnrecognizedHoldingGains" xml:lang="en-US">Gross unrecognized holding gains</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_HeldToMaturitySecuritiesUnrecognizedHoldingGains" xml:lang="en-US">Held-to-maturity Securities, Unrecognized Holding Gains</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_HeldToMaturitySecuritiesUnrecognizedHoldingGains" xml:lang="en-US">Gross unrecognized gain on short-term investments</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_HeldToMaturitySecuritiesUnrecognizedHoldingLosses" xlink:label="us-gaap_HeldToMaturitySecuritiesUnrecognizedHoldingLosses" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HeldToMaturitySecuritiesUnrecognizedHoldingLosses" xlink:to="lab_HeldToMaturitySecuritiesUnrecognizedHoldingLosses" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_HeldToMaturitySecuritiesUnrecognizedHoldingLosses" xml:lang="en-US">Gross unrecognized holding losses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_HeldToMaturitySecuritiesUnrecognizedHoldingLosses" xml:lang="en-US">Held-to-maturity Securities, Unrecognized Holding Losses</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_HeldToMaturitySecuritiesFairValue" xlink:label="us-gaap_HeldToMaturitySecuritiesFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HeldToMaturitySecuritiesFairValue" xlink:to="lab_HeldToMaturitySecuritiesFairValue" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_HeldToMaturitySecuritiesFairValue" xml:lang="en-US">Held-to-maturity Securities, Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_HeldToMaturitySecuritiesFairValue" xml:lang="en-US">Short-term investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_HeldToMaturitySecuritiesFairValue" xml:lang="en-US">Short-term investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_HeldToMaturitySecuritiesFairValue" xml:lang="en-US">Fair value</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OperatingLeasesOfLesseeDisclosureTextBlock" xlink:label="us-gaap_OperatingLeasesOfLesseeDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesOfLesseeDisclosureTextBlock" xlink:to="lab_OperatingLeasesOfLesseeDisclosureTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OperatingLeasesOfLesseeDisclosureTextBlock" xml:lang="en-US">Operating Leases of Lessee Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_OperatingLeasesOfLesseeDisclosureTextBlock" xml:lang="en-US">Future minimum payments under non-cancelable operating leases with initial terms of one-year or more</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueAbstract" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueAbstract" xml:lang="en-US">Operating Leases, Future Minimum Payments Due [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueAbstract" xml:lang="en-US">Future minimum payments under non-cancelable operating leases with initial terms of one-year or more</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueCurrent" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueCurrent" xml:lang="en-US">2011</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueCurrent" xml:lang="en-US">Operating Leases, Future Minimum Payments Due, Current</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xml:lang="en-US">2012</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueInTwoYears" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Two Years</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xml:lang="en-US">2013</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueInThreeYears" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Three Years</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueInFourYears" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xml:lang="en-US">2014</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueInFourYears" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Four Years</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due in Five Years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueInFiveYears" xml:lang="en-US">2015</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDue" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDue" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDue" xml:lang="en-US">Operating Leases, Future Minimum Payments Due</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDue" xml:lang="en-US">Total</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_LeaseAndRentalExpense" xlink:label="us-gaap_LeaseAndRentalExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseAndRentalExpense" xlink:to="lab_LeaseAndRentalExpense" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_LeaseAndRentalExpense" xml:lang="en-US">Operating Leases, Rent Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_LeaseAndRentalExpense" xml:lang="en-US">Operating Leases, Rent Expense, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_LeaseAndRentalExpense" xml:lang="en-US">Rental expense under operating lease</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_LossContingencyRangeOfPossibleLossMaximum" xlink:label="us-gaap_LossContingencyRangeOfPossibleLossMaximum" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingencyRangeOfPossibleLossMaximum" xlink:to="lab_LossContingencyRangeOfPossibleLossMaximum" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_LossContingencyRangeOfPossibleLossMaximum" xml:lang="en-US">Loss Contingency, Range of Possible Loss, Maximum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_LossContingencyRangeOfPossibleLossMaximum" xml:lang="en-US">Aggregate amount claimed against the group</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/non-gaap/dei-2009-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="lab_DocumentFiscalYearFocus" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DocumentFiscalYearFocus" xml:lang="en-US">Document Fiscal Year Focus</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/non-gaap/dei-2009-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="lab_DocumentFiscalPeriodFocus" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DocumentFiscalPeriodFocus" xml:lang="en-US">Document Fiscal Period Focus</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_OtherAssetsCurrentTablesAbstract" xlink:label="bidu_OtherAssetsCurrentTablesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_OtherAssetsCurrentTablesAbstract" xlink:to="bidu_OtherAssetsCurrentTablesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_OtherAssetsCurrentTablesAbstract_lbl" xml:lang="en-US">Other Assets, Current (Tables) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_OtherAssetsCurrentTablesAbstract_lbl" xml:lang="en-US">Other Assets Current.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_OtherAssetsCurrentTextBlock" xlink:label="bidu_OtherAssetsCurrentTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_OtherAssetsCurrentTextBlock" xlink:to="bidu_OtherAssetsCurrentTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_OtherAssetsCurrentTextBlock_lbl" xml:lang="en-US">Other Assets Current Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_OtherAssetsCurrentTextBlock_lbl" xml:lang="en-US">Other Assets Current.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_OtherAssetsCurrentTextBlock_lbl" xml:lang="en-US">Other Assets, Current</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_OtherAssetsCurrentDetailsAbstract" xlink:label="bidu_OtherAssetsCurrentDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_OtherAssetsCurrentDetailsAbstract" xlink:to="bidu_OtherAssetsCurrentDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_OtherAssetsCurrentDetailsAbstract_lbl" xml:lang="en-US">Other Assets, Current (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_OtherAssetsCurrentDetailsAbstract_lbl" xml:lang="en-US">Other Assets Current Details Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_OtherAssetsCurrentDetailsAbstract_lbl" xml:lang="en-US">Other Assets Current.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_OtherAssetsCurrentAbstract" xlink:label="bidu_OtherAssetsCurrentAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_OtherAssetsCurrentAbstract" xlink:to="bidu_OtherAssetsCurrentAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_OtherAssetsCurrentAbstract_lbl" xml:lang="en-US">Other Assets Current [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_OtherAssetsCurrentAbstract_lbl" xml:lang="en-US">Other Assets Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_OtherAssetsCurrentAbstract_lbl" xml:lang="en-US">Other Assets Current.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ReceivablesFromServiceProvider" xlink:label="bidu_ReceivablesFromServiceProvider" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ReceivablesFromServiceProvider" xlink:to="bidu_ReceivablesFromServiceProvider_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ReceivablesFromServiceProvider_lbl" xml:lang="en-US">Receivables From Service Provider</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ReceivablesFromServiceProvider_lbl" xml:lang="en-US">Receivables from service provider.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ReceivablesFromServiceProvider_lbl" xml:lang="en-US">Receivables from service provider</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_FixedAssetsTablesAbstract" xlink:label="bidu_FixedAssetsTablesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_FixedAssetsTablesAbstract" xlink:to="bidu_FixedAssetsTablesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_FixedAssetsTablesAbstract_lbl" xml:lang="en-US">Fixed Assets (Tables) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_FixedAssetsTablesAbstract_lbl" xml:lang="en-US">Fixed Assets.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_FixedAssetsDetailsAbstract" xlink:label="bidu_FixedAssetsDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_FixedAssetsDetailsAbstract" xlink:to="bidu_FixedAssetsDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_FixedAssetsDetailsAbstract_lbl" xml:lang="en-US">Fixed Assets (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_FixedAssetsDetailsAbstract_lbl" xml:lang="en-US">Fixed Assets.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:to="lab_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xml:lang="en-US">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="lab_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xml:lang="en-US">Less: Accumulated depreciation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xml:lang="en-US">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xml:lang="en-US">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xml:lang="en-US">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xml:lang="en-US">Less: Accumulated depreciation</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_GoodwillAndIntangibleAssetsTablesAbstract" xlink:label="bidu_GoodwillAndIntangibleAssetsTablesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_GoodwillAndIntangibleAssetsTablesAbstract" xlink:to="bidu_GoodwillAndIntangibleAssetsTablesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_GoodwillAndIntangibleAssetsTablesAbstract_lbl" xml:lang="en-US">Goodwill and Intangible Assets (Tables) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_GoodwillAndIntangibleAssetsTablesAbstract_lbl" xml:lang="en-US">Goodwill And Intangible Assets.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_GoodwillAndIntangibleAssetsDetailsAbstract" xlink:label="bidu_GoodwillAndIntangibleAssetsDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_GoodwillAndIntangibleAssetsDetailsAbstract" xlink:to="bidu_GoodwillAndIntangibleAssetsDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_GoodwillAndIntangibleAssetsDetailsAbstract_lbl" xml:lang="en-US">Goodwill And Intangible Assets (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_GoodwillAndIntangibleAssetsDetailsAbstract_lbl" xml:lang="en-US">Goodwill And Intangible Assets.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_GoodwillAcquiredDuringPeriod" xlink:label="us-gaap_GoodwillAcquiredDuringPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillAcquiredDuringPeriod" xlink:to="lab_GoodwillAcquiredDuringPeriod" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_GoodwillAcquiredDuringPeriod" xml:lang="en-US">Goodwill, Acquired During Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_GoodwillAcquiredDuringPeriod" xml:lang="en-US">Acquisition of Goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_GoodwillAcquiredDuringPeriod" xml:lang="en-US">Goodwill acquired</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustments" xlink:label="us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustments" xlink:to="lab_GoodwillTranslationAndPurchaseAccountingAdjustments" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_GoodwillTranslationAndPurchaseAccountingAdjustments" xml:lang="en-US">Goodwill, Translation and Purchase Accounting Adjustments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_GoodwillTranslationAndPurchaseAccountingAdjustments" xml:lang="en-US">Foreign currency translation adjustment</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_RetainedEarningsUnappropriated" xlink:label="us-gaap_RetainedEarningsUnappropriated" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsUnappropriated" xlink:to="lab_RetainedEarningsUnappropriated" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_RetainedEarningsUnappropriated" xml:lang="en-US">Retained Earnings, Unappropriated</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_RetainedEarningsUnappropriated" xml:lang="en-US">Unreserved retained earnings</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="lab_FiniteLivedIntangibleAssetsByMajorClassAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FiniteLivedIntangibleAssetsByMajorClassAxis" xml:lang="en-US">Finite-Lived Intangible Assets by Major Class [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="lab_FiniteLivedIntangibleAssetsMajorClassNameDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FiniteLivedIntangibleAssetsMajorClassNameDomain" xml:lang="en-US">Finite-Lived Intangible Assets, Major Class Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SummaryOfSignificantAccountingPoliciesTablesAbstract" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesTablesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SummaryOfSignificantAccountingPoliciesTablesAbstract" xlink:to="bidu_SummaryOfSignificantAccountingPoliciesTablesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesTablesAbstract_lbl" xml:lang="en-US">Summary of Significant Accounting Policies (Tables) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesTablesAbstract_lbl" xml:lang="en-US">Summary of significant accounting policies.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SummaryOfSignificantAccountingPoliciesDetailsAbstract" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SummaryOfSignificantAccountingPoliciesDetailsAbstract" xlink:to="bidu_SummaryOfSignificantAccountingPoliciesDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesDetailsAbstract_lbl" xml:lang="en-US">Summary of Significant Accounting Policies (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesDetailsAbstract_lbl" xml:lang="en-US">Summary of significant accounting policies.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_AllocationOfUndistributedEarningsForDilutedComputation" xlink:label="bidu_AllocationOfUndistributedEarningsForDilutedComputation" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_AllocationOfUndistributedEarningsForDilutedComputation" xlink:to="bidu_AllocationOfUndistributedEarningsForDilutedComputation_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_AllocationOfUndistributedEarningsForDilutedComputation_lbl" xml:lang="en-US">Allocation of undistributed earnings for diluted computation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_AllocationOfUndistributedEarningsForDilutedComputation_lbl" xml:lang="en-US">Allocation of undistributed earnings for diluted computation.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_AllocationOfUndistributedEarningsForDilutedComputation_lbl" xml:lang="en-US">Allocation of undistributed earnings for diluted computation</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:to="lab_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xml:lang="en-US">Incremental Common Shares Attributable to Share-based Payment Arrangements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xml:lang="en-US">Share-based awards</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SignificantAccountingPoliciesPoliciesAbstract" xlink:label="bidu_SignificantAccountingPoliciesPoliciesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SignificantAccountingPoliciesPoliciesAbstract" xlink:to="bidu_SignificantAccountingPoliciesPoliciesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SignificantAccountingPoliciesPoliciesAbstract_lbl" xml:lang="en-US">Significant Accounting Policies (Policies) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SignificantAccountingPoliciesPoliciesAbstract_lbl" xml:lang="en-US">Significant Accounting Policies.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ConsolidationPolicyTextBlock" xlink:label="us-gaap_ConsolidationPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConsolidationPolicyTextBlock" xlink:to="lab_ConsolidationPolicyTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ConsolidationPolicyTextBlock" xml:lang="en-US">Consolidation, Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ConsolidationPolicyTextBlock" xml:lang="en-US">Principles of Consolidation</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:label="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:to="lab_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xml:lang="en-US">Foreign Currency Transactions and Translations Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xml:lang="en-US">Foreign Currency</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ReceivablesPolicyTextBlock" xlink:label="us-gaap_ReceivablesPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ReceivablesPolicyTextBlock" xlink:to="lab_ReceivablesPolicyTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ReceivablesPolicyTextBlock" xml:lang="en-US">Accounts Receivable</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ReceivablesPolicyTextBlock" xml:lang="en-US">Receivables, Policy [Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_RevenueRecognitionPolicyTextBlock" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:to="lab_RevenueRecognitionPolicyTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_RevenueRecognitionPolicyTextBlock" xml:lang="en-US">Revenue Recognition, Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_RevenueRecognitionPolicyTextBlock" xml:lang="en-US">Revenue Recognition</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CostOfSalesPolicyTextBlock" xlink:label="us-gaap_CostOfSalesPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfSalesPolicyTextBlock" xlink:to="lab_CostOfSalesPolicyTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CostOfSalesPolicyTextBlock" xml:lang="en-US">Cost of Sales, Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CostOfSalesPolicyTextBlock" xml:lang="en-US">Cost of Revenues</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AdvertisingCostsPolicyTextBlock" xlink:label="us-gaap_AdvertisingCostsPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdvertisingCostsPolicyTextBlock" xlink:to="lab_AdvertisingCostsPolicyTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AdvertisingCostsPolicyTextBlock" xml:lang="en-US">Advertising Costs, Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_AdvertisingCostsPolicyTextBlock" xml:lang="en-US">Advertising Expenses</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock" xlink:label="us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock" xlink:to="lab_OtherIncomeAndOtherExpenseDisclosureTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OtherIncomeAndOtherExpenseDisclosureTextBlock" xml:lang="en-US">Other Income and Other Expense Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_OtherIncomeAndOtherExpenseDisclosureTextBlock" xml:lang="en-US">Other Income, net</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_LeasePolicyTextBlock" xlink:label="us-gaap_LeasePolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeasePolicyTextBlock" xlink:to="lab_LeasePolicyTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_LeasePolicyTextBlock" xml:lang="en-US">Lease, Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_LeasePolicyTextBlock" xml:lang="en-US">Leases</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncomeTaxPolicyTextBlock" xlink:label="us-gaap_IncomeTaxPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxPolicyTextBlock" xlink:to="lab_IncomeTaxPolicyTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncomeTaxPolicyTextBlock" xml:lang="en-US">Income Tax, Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IncomeTaxPolicyTextBlock" xml:lang="en-US">Income Taxes</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="lab_EarningsPerSharePolicyTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EarningsPerSharePolicyTextBlock" xml:lang="en-US">Earnings Per Share, Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_EarningsPerSharePolicyTextBlock" xml:lang="en-US">Earnings Per Share ("EPS")</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:label="us-gaap_ConcentrationRiskDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskDisclosureTextBlock" xlink:to="lab_ConcentrationRiskDisclosureTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ConcentrationRiskDisclosureTextBlock" xml:lang="en-US">Concentration Risk Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ConcentrationRiskDisclosureTextBlock" xml:lang="en-US">Concentration of Risks</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SummaryOfSignificantAccountingPoliciesTextualsAbstract" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesTextualsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SummaryOfSignificantAccountingPoliciesTextualsAbstract" xlink:to="bidu_SummaryOfSignificantAccountingPoliciesTextualsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesTextualsAbstract_lbl" xml:lang="en-US">Summary Of Significant Accounting Policies Textuals Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesTextualsAbstract_lbl" xml:lang="en-US">Summary of Significant Accounting Policies (Textuals) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesTextualsAbstract_lbl" xml:lang="en-US">Summary Of Significant Accounting Policies.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CapitalizedComputerSoftwareAmortization" xlink:label="us-gaap_CapitalizedComputerSoftwareAmortization" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalizedComputerSoftwareAmortization" xlink:to="lab_CapitalizedComputerSoftwareAmortization" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CapitalizedComputerSoftwareAmortization" xml:lang="en-US">Capitalized Computer Software, Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CapitalizedComputerSoftwareAmortization" xml:lang="en-US">Amortization expense for capitalized software</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_GoodwillAndIntangibleAssetsTextualsAbstract" xlink:label="bidu_GoodwillAndIntangibleAssetsTextualsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_GoodwillAndIntangibleAssetsTextualsAbstract" xlink:to="bidu_GoodwillAndIntangibleAssetsTextualsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_GoodwillAndIntangibleAssetsTextualsAbstract_lbl" xml:lang="en-US">Goodwill And Intangible Assets Textuals Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_GoodwillAndIntangibleAssetsTextualsAbstract_lbl" xml:lang="en-US">Goodwill And Intangible Assets.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_GoodwillAndIntangibleAssetsTextualsAbstract_lbl" xml:lang="en-US">Goodwill And Intangible Assets (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FutureAmortizationExpenseYearOne" xlink:label="us-gaap_FutureAmortizationExpenseYearOne" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureAmortizationExpenseYearOne" xlink:to="lab_FutureAmortizationExpenseYearOne" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FutureAmortizationExpenseYearOne" xml:lang="en-US">2011</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FutureAmortizationExpenseYearOne" xml:lang="en-US">Future Amortization Expense, Year One</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FutureAmortizationExpenseYearTwo" xlink:label="us-gaap_FutureAmortizationExpenseYearTwo" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureAmortizationExpenseYearTwo" xlink:to="lab_FutureAmortizationExpenseYearTwo" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FutureAmortizationExpenseYearTwo" xml:lang="en-US">2012</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FutureAmortizationExpenseYearTwo" xml:lang="en-US">Future Amortization Expense, Year Two</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FutureAmortizationExpenseYearThree" xlink:label="us-gaap_FutureAmortizationExpenseYearThree" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureAmortizationExpenseYearThree" xlink:to="lab_FutureAmortizationExpenseYearThree" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FutureAmortizationExpenseYearThree" xml:lang="en-US">2013</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FutureAmortizationExpenseYearThree" xml:lang="en-US">Future Amortization Expense, Year Three</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FutureAmortizationExpenseYearFour" xlink:label="us-gaap_FutureAmortizationExpenseYearFour" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureAmortizationExpenseYearFour" xlink:to="lab_FutureAmortizationExpenseYearFour" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FutureAmortizationExpenseYearFour" xml:lang="en-US">2014</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FutureAmortizationExpenseYearFour" xml:lang="en-US">Future Amortization Expense, Year Four</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FutureAmortizationExpenseYearFive" xlink:label="us-gaap_FutureAmortizationExpenseYearFive" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FutureAmortizationExpenseYearFive" xlink:to="lab_FutureAmortizationExpenseYearFive" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FutureAmortizationExpenseYearFive" xml:lang="en-US">2015</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FutureAmortizationExpenseYearFive" xml:lang="en-US">Future Amortization Expense, Year Five</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" xlink:label="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" xlink:to="lab_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" xml:lang="en-US">Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FiniteLivedIntangibleAssetsFutureAmortizationExpenseAbstract" xml:lang="en-US">Intangible Assets, Future Amortization Expenses</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_IntangibleAssetsFutureAmortizationExpensesTextBlock" xlink:label="bidu_IntangibleAssetsFutureAmortizationExpensesTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_IntangibleAssetsFutureAmortizationExpensesTextBlock" xlink:to="bidu_IntangibleAssetsFutureAmortizationExpensesTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IntangibleAssetsFutureAmortizationExpensesTextBlock_lbl" xml:lang="en-US">Intangible Assets Future Amortization Expenses Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_IntangibleAssetsFutureAmortizationExpensesTextBlock_lbl" xml:lang="en-US">Intangible Assets, Future Amortization Expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_IntangibleAssetsFutureAmortizationExpensesTextBlock_lbl" xml:lang="en-US">Estimated amortization expense relating to the existing intangible assets with finite lives for each of next five years.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AdvertisingExpense" xlink:label="us-gaap_AdvertisingExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdvertisingExpense" xlink:to="lab_AdvertisingExpense" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AdvertisingExpense" xml:lang="en-US">Advertising Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_AdvertisingExpense" xml:lang="en-US">Advertising expenses</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CashCashEquivalentsAndShortTermInvestments" xlink:label="us-gaap_CashCashEquivalentsAndShortTermInvestments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsAndShortTermInvestments" xlink:to="lab_CashCashEquivalentsAndShortTermInvestments" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CashCashEquivalentsAndShortTermInvestments" xml:lang="en-US">Cash, Cash Equivalents, and Short-term Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_CashCashEquivalentsAndShortTermInvestments" xml:lang="en-US">Cash, Cash Equivalents, and Short-term Investments, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CashCashEquivalentsAndShortTermInvestments" xml:lang="en-US">Cash and cash equivalents, and short-term investments</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IntangibleAssetsDisclosureTextBlock" xlink:label="us-gaap_IntangibleAssetsDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsDisclosureTextBlock" xlink:to="lab_IntangibleAssetsDisclosureTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IntangibleAssetsDisclosureTextBlock" xml:lang="en-US">Intangible Assets Disclosure [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IntangibleAssetsDisclosureTextBlock" xml:lang="en-US">Intangible assets</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EarningsPerShareTextBlock" xlink:label="us-gaap_EarningsPerShareTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareTextBlock" xlink:to="lab_EarningsPerShareTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EarningsPerShareTextBlock" xml:lang="en-US">Earnings Per Share [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_EarningsPerShareTextBlock" xml:lang="en-US">EARNINGS PER SHARE</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted" xlink:to="lab_NetIncomeLossAvailableToCommonStockholdersDiluted" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_NetIncomeLossAvailableToCommonStockholdersDiluted" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Diluted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_NetIncomeLossAvailableToCommonStockholdersDiluted" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Diluted, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_NetIncomeLossAvailableToCommonStockholdersDiluted" xml:lang="en-US">Allocation of undistributed earnings</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_UseOfEstimatesPolicyTextBlock" xlink:label="bidu_UseOfEstimatesPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_UseOfEstimatesPolicyTextBlock" xlink:to="bidu_UseOfEstimatesPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_UseOfEstimatesPolicyTextBlock_lbl" xml:lang="en-US">Use Of Estimates Policy Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_UseOfEstimatesPolicyTextBlock_lbl" xml:lang="en-US">Use of Estimates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_UseOfEstimatesPolicyTextBlock_lbl" xml:lang="en-US">Provides an entity's explanation that the preparation of financial statements in conformity with generally accepted accounting principles requires the use of management estimates. Estimates used in the determination of carrying amounts of assets or liabilities, or in disclosure of gain or loss contingencies should be disclosed if known information available prior to issuance of the financial statements indicates that both of these criteria are met: (1) It is at least reasonably possible that the estimate of the effect on the financial statements of a condition, situation, or set of circumstances that existed at the date of the financial statements will change in the near term (less than one year from the date of issuance) due to one or more future confirming events, and (2) The effect of the change would be material to the financial statements. The disclosure should indicate the nature of the uncertainty and include an indication that it is at least reasonably possible that a change in the estimate will occur in the near term. Disclosure of the factors that cause the estimate to be sensitive to change also is encouraged. Entities also may identify those areas that are subject to significant estimates.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CapitalizedComputerSoftwareAdditions" xlink:label="us-gaap_CapitalizedComputerSoftwareAdditions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalizedComputerSoftwareAdditions" xlink:to="lab_CapitalizedComputerSoftwareAdditions" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CapitalizedComputerSoftwareAdditions" xml:lang="en-US">Capitalized Computer Software, Additions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CapitalizedComputerSoftwareAdditions" xml:lang="en-US">Internal use software development costs capitalized during the period</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CapitalizedComputerSoftwareNet" xlink:label="us-gaap_CapitalizedComputerSoftwareNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CapitalizedComputerSoftwareNet" xlink:to="lab_CapitalizedComputerSoftwareNet" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CapitalizedComputerSoftwareNet" xml:lang="en-US">Capitalized Computer Software, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_CapitalizedComputerSoftwareNet" xml:lang="en-US">Capitalized Computer Software, Net, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_CapitalizedComputerSoftwareNet" xml:lang="en-US">Capitalized Computer Software, Net, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_CapitalizedComputerSoftwareNet" xml:lang="en-US">Capitalized Computer Software, Net, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CapitalizedComputerSoftwareNet" xml:lang="en-US">Unamortized amount of capitalized internal use software developed costs (included in fixed assets, net)</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:to="lab_PropertyPlantAndEquipmentPolicyTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_PropertyPlantAndEquipmentPolicyTextBlock" xml:lang="en-US">Property, Plant and Equipment, Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_PropertyPlantAndEquipmentPolicyTextBlock" xml:lang="en-US">Fixed Assets</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_PropertyPlantAndEquipmentUsefulLifeTextBlock" xlink:label="bidu_PropertyPlantAndEquipmentUsefulLifeTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_PropertyPlantAndEquipmentUsefulLifeTextBlock" xlink:to="bidu_PropertyPlantAndEquipmentUsefulLifeTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_PropertyPlantAndEquipmentUsefulLifeTextBlock_lbl" xml:lang="en-US">Property Plant And Equipment Useful Life Text block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_PropertyPlantAndEquipmentUsefulLifeTextBlock_lbl" xml:lang="en-US">Period over Which Fixed Assets Depreciation or Amortization Recorded on a Straight-line Basis</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_PropertyPlantAndEquipmentUsefulLifeTextBlock_lbl" xml:lang="en-US">Property Plant And Equipment Useful Life.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_OfficeBuildingRelatedFacilityMachineryAndEquipmentMember" xlink:label="bidu_OfficeBuildingRelatedFacilityMachineryAndEquipmentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_OfficeBuildingRelatedFacilityMachineryAndEquipmentMember" xlink:to="bidu_OfficeBuildingRelatedFacilityMachineryAndEquipmentMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_OfficeBuildingRelatedFacilityMachineryAndEquipmentMember_lbl" xml:lang="en-US">Office Building Related Facility Machinery and Equipment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_OfficeBuildingRelatedFacilityMachineryAndEquipmentMember_lbl" xml:lang="en-US">Office building related facility machinery and equipment.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_PropertyPlantAndEquipmentUsefulLifeAbstract" xlink:label="bidu_PropertyPlantAndEquipmentUsefulLifeAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_PropertyPlantAndEquipmentUsefulLifeAbstract" xlink:to="bidu_PropertyPlantAndEquipmentUsefulLifeAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_PropertyPlantAndEquipmentUsefulLifeAbstract_lbl" xml:lang="en-US">Property Plant And Equipment Useful Life Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_PropertyPlantAndEquipmentUsefulLifeAbstract_lbl" xml:lang="en-US">Property Plant and Equipment Useful Life.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_PropertyPlantAndEquipmentUsefulLifeAbstract_lbl" xml:lang="en-US">Property Plant and Equipment Useful Life</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeTextBlock" xlink:label="bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeTextBlock" xlink:to="bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeTextBlock_lbl" xml:lang="en-US">Finite Lived Intangible Assets Weighted Average Useful Life Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeTextBlock_lbl" xml:lang="en-US">Intangible Assets Weighted Average Useful Lives from Date of Purchase</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeTextBlock_lbl" xml:lang="en-US">The weighted average useful lives of finite-lived intangible assets from the date of purchase.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:label="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:to="lab_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xml:lang="en-US">Impairment of Long-Lived Assets Other Than Goodwill</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xml:lang="en-US">Impairment or Disposal of Long-Lived Assets, Policy [Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CompensationRelatedCostsPolicyTextBlock" xlink:label="us-gaap_CompensationRelatedCostsPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CompensationRelatedCostsPolicyTextBlock" xlink:to="lab_CompensationRelatedCostsPolicyTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CompensationRelatedCostsPolicyTextBlock" xml:lang="en-US">Compensation Related Costs, Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CompensationRelatedCostsPolicyTextBlock" xml:lang="en-US">Share-based Compensation</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CostOfServicesDirectTaxesAndLicensesCosts" xlink:label="us-gaap_CostOfServicesDirectTaxesAndLicensesCosts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfServicesDirectTaxesAndLicensesCosts" xlink:to="lab_CostOfServicesDirectTaxesAndLicensesCosts" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CostOfServicesDirectTaxesAndLicensesCosts" xml:lang="en-US">Cost of Services, Direct Taxes and Licenses Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CostOfServicesDirectTaxesAndLicensesCosts" xml:lang="en-US">Business tax and surcharges in cost of revenues</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="lab_PropertyPlantAndEquipmentByTypeAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_PropertyPlantAndEquipmentByTypeAxis" xml:lang="en-US">Property, Plant and Equipment by Type [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:to="lab_PropertyPlantAndEquipmentTypeDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_PropertyPlantAndEquipmentTypeDomain" xml:lang="en-US">Property, Plant and Equipment, Type [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_BuildingMember" xlink:label="us-gaap_BuildingMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BuildingMember" xlink:to="lab_BuildingMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_BuildingMember" xml:lang="en-US">Office building [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ComputerEquipmentMember" xlink:label="us-gaap_ComputerEquipmentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComputerEquipmentMember" xlink:to="lab_ComputerEquipmentMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ComputerEquipmentMember" xml:lang="en-US">Computer Equipment [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_SoftwareDevelopmentMember" xlink:label="us-gaap_SoftwareDevelopmentMember" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SoftwareDevelopmentMember" xml:lang="en-US">Internal use software development costs [Member]</label>
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    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CustomerRelationshipsMember" xlink:label="us-gaap_CustomerRelationshipsMember" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CustomerRelationshipsMember" xml:lang="en-US">Customer Relationships [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_NoncompeteAgreementsMember" xlink:label="us-gaap_NoncompeteAgreementsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncompeteAgreementsMember" xlink:to="lab_NoncompeteAgreementsMember" />
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    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_InternetDomainNamesMember" xlink:label="us-gaap_InternetDomainNamesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InternetDomainNamesMember" xlink:to="lab_InternetDomainNamesMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_InternetDomainNamesMember" xml:lang="en-US">Domain Names [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_TrademarksMember" xlink:label="us-gaap_TrademarksMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TrademarksMember" xlink:to="lab_TrademarksMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_TrademarksMember" xml:lang="en-US">Trademark [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ContractualRightsMember" xlink:label="us-gaap_ContractualRightsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractualRightsMember" xlink:to="lab_ContractualRightsMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ContractualRightsMember" xml:lang="en-US">Contract-based assets [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_PropertyPlantAndEquipmentTextBlock" xml:lang="en-US">Property, Plant and Equipment [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_PropertyPlantAndEquipmentTextBlock" xml:lang="en-US">Fixed Assets</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ScheduleOfGoodwillTextBlock" xlink:label="us-gaap_ScheduleOfGoodwillTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfGoodwillTextBlock" xlink:to="lab_ScheduleOfGoodwillTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfGoodwillTextBlock" xml:lang="en-US">Schedule of Goodwill [Text Block]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AmortizationOfIntangibleAssets" xlink:to="lab_AmortizationOfIntangibleAssets" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AmortizationOfIntangibleAssets" xml:lang="en-US">Amortization of Intangible Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_AmortizationOfIntangibleAssets" xml:lang="en-US">Amortization of Intangible Assets, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_AmortizationOfIntangibleAssets" xml:lang="en-US">Amortization expense</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_RetainedEarningsAccumulatedDeficitTextBlock" xlink:label="bidu_RetainedEarningsAccumulatedDeficitTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_RetainedEarningsAccumulatedDeficitTextBlock" xlink:to="bidu_RetainedEarningsAccumulatedDeficitTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_RetainedEarningsAccumulatedDeficitTextBlock_lbl" xml:lang="en-US">Retained Earnings Accumulated Deficit Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_RetainedEarningsAccumulatedDeficitTextBlock_lbl" xml:lang="en-US">Retained Earnings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_RetainedEarningsAccumulatedDeficitTextBlock_lbl" xml:lang="en-US">Represents disclosures of the cumulative amount of the reporting entity's undistributed earnings or deficit.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_RetainedEarningsAppropriated" xlink:label="us-gaap_RetainedEarningsAppropriated" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAppropriated" xlink:to="lab_RetainedEarningsAppropriated" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_RetainedEarningsAppropriated" xml:lang="en-US">Retained Earnings, Appropriated</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_RetainedEarningsAppropriated" xml:lang="en-US">PRC statutory reserve funds</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_VehiclesMember" xlink:label="us-gaap_VehiclesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_VehiclesMember" xlink:to="lab_VehiclesMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_VehiclesMember" xml:lang="en-US">Vehicles [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OfficeEquipmentMember" xlink:label="us-gaap_OfficeEquipmentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OfficeEquipmentMember" xlink:to="lab_OfficeEquipmentMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OfficeEquipmentMember" xml:lang="en-US">Office Equipment [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:to="lab_FiniteLivedIntangibleAssetsAccumulatedAmortization" />
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    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="lab_FiniteLivedIntangibleAssetsAccumulatedAmortization" xml:lang="en-US">Finite-Lived Intangible Assets, Accumulated Amortization</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FiniteLivedIntangibleAssetsAccumulatedAmortization" xml:lang="en-US">Finite-Lived Intangible Assets, Accumulated Amortization</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract" xlink:to="lab_WeightedAverageNumberOfSharesOutstandingBasicAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_WeightedAverageNumberOfSharesOutstandingBasicAbstract" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Basic [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_WeightedAverageNumberOfSharesOutstandingBasicAbstract" xml:lang="en-US">Denominator</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_IncrementalCommonSharesAttributableToConversionOfOtherClassOfStock" xlink:to="bidu_IncrementalCommonSharesAttributableToConversionOfOtherClassOfStock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IncrementalCommonSharesAttributableToConversionOfOtherClassOfStock_lbl" xml:lang="en-US">Incremental Common Shares Attributable To Conversion Of Other Class Of Stock</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_IncrementalCommonSharesAttributableToConversionOfOtherClassOfStock_lbl" xml:lang="en-US">Conversion of Class B to Class A ordinary shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_IncrementalCommonSharesAttributableToConversionOfOtherClassOfStock_lbl" xml:lang="en-US">Incremental common shares attributable to the assumed conversion of Class B ordinary shares in the computation of the diluted net income per share of Class A ordinary shares.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EarningsPerShareBasicAbstract" xlink:label="us-gaap_EarningsPerShareBasicAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAbstract" xlink:to="lab_EarningsPerShareBasicAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_EarningsPerShareBasicAbstract" xml:lang="en-US">Earnings per share - basic:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EarningsPerShareBasicAbstract" xml:lang="en-US">Earnings Per Share Basic Abstract</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_UseRightsMember" xlink:label="us-gaap_UseRightsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseRightsMember" xlink:to="lab_UseRightsMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_UseRightsMember" xml:lang="en-US">Land use right [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ComputerSoftwareIntangibleAssetMember" xlink:label="us-gaap_ComputerSoftwareIntangibleAssetMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComputerSoftwareIntangibleAssetMember" xlink:to="lab_ComputerSoftwareIntangibleAssetMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ComputerSoftwareIntangibleAssetMember" xml:lang="en-US">Software [Member]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_MaturityPeriodUsedToClassifyInvestmentsAsCashAndCashEquivalents" xlink:label="bidu_MaturityPeriodUsedToClassifyInvestmentsAsCashAndCashEquivalents" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_MaturityPeriodUsedToClassifyInvestmentsAsCashAndCashEquivalents" xlink:to="bidu_MaturityPeriodUsedToClassifyInvestmentsAsCashAndCashEquivalents_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_MaturityPeriodUsedToClassifyInvestmentsAsCashAndCashEquivalents_lbl" xml:lang="en-US">Maturity period used to classify investments as cash and cash equivalents</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_MaturityPeriodUsedToClassifyInvestmentsAsCashAndCashEquivalents_lbl" xml:lang="en-US">Original maturity from the date of purchase used to classify investments as cash and cash equivalents.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_MaturityPeriodUsedToClassifyInvestmentsAsCashAndCashEquivalents_lbl" xml:lang="en-US">Maturity period used to classify investments as cash and cash equivalents</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_MaturityPeriodUsedToClassifyInvestmentsAsShortTermInvestments" xlink:label="bidu_MaturityPeriodUsedToClassifyInvestmentsAsShortTermInvestments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_MaturityPeriodUsedToClassifyInvestmentsAsShortTermInvestments" xlink:to="bidu_MaturityPeriodUsedToClassifyInvestmentsAsShortTermInvestments_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_MaturityPeriodUsedToClassifyInvestmentsAsShortTermInvestments_lbl" xml:lang="en-US">Maturity period used to classify investments as short-term investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_MaturityPeriodUsedToClassifyInvestmentsAsShortTermInvestments_lbl" xml:lang="en-US">Original maturity from the date of purchase used to  classify investments as short-term investments.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_MaturityPeriodUsedToClassifyInvestmentsAsShortTermInvestments_lbl" xml:lang="en-US">Maturity period used to classify investments as short-term investments</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable" xlink:label="us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable" xlink:to="lab_ScheduleOfEarningsPerShareBasicByCommonClassTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfEarningsPerShareBasicByCommonClassTable" xml:lang="en-US">Schedule of Earnings Per Share, Basic, by Common Class [Table]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EarningsPerShareBasicLineItems" xlink:label="us-gaap_EarningsPerShareBasicLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicLineItems" xlink:to="lab_EarningsPerShareBasicLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EarningsPerShareBasicLineItems" xml:lang="en-US">Earnings Per Share, Basic [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareDilutedByCommonClassTable" xlink:label="us-gaap_ScheduleOfEarningsPerShareDilutedByCommonClassTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEarningsPerShareDilutedByCommonClassTable" xlink:to="lab_ScheduleOfEarningsPerShareDilutedByCommonClassTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfEarningsPerShareDilutedByCommonClassTable" xml:lang="en-US">Schedule of Earnings Per Share, Diluted, by Common Class [Table]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EarningsPerShareDilutedLineItems" xlink:label="us-gaap_EarningsPerShareDilutedLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDilutedLineItems" xlink:to="lab_EarningsPerShareDilutedLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EarningsPerShareDilutedLineItems" xml:lang="en-US">Earnings Per Share, Diluted [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EarningsPerShareDilutedAbstract" xlink:label="us-gaap_EarningsPerShareDilutedAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDilutedAbstract" xlink:to="lab_EarningsPerShareDilutedAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_EarningsPerShareDilutedAbstract" xml:lang="en-US">Earnings per share - diluted:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EarningsPerShareDilutedAbstract" xml:lang="en-US">Earnings Per Share Diluted Abstract</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="lab_ScheduleOfPropertyPlantAndEquipmentTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfPropertyPlantAndEquipmentTable" xml:lang="en-US">Schedule of Property, Plant and Equipment [Table]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentLineItems" xlink:to="lab_PropertyPlantAndEquipmentLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_PropertyPlantAndEquipmentLineItems" xml:lang="en-US">Property, Plant and Equipment [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLifeMinimum" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLifeMinimum" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentUsefulLifeMinimum" xlink:to="lab_PropertyPlantAndEquipmentUsefulLifeMinimum" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_PropertyPlantAndEquipmentUsefulLifeMinimum" xml:lang="en-US">Property, Plant and Equipment, Useful Life, Minimum</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_PropertyPlantAndEquipmentUsefulLifeMinimum" xml:lang="en-US">Property Plant and Equipment, Useful life (in years)</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ScheduleOfFiniteLivedIntangibleAssetsByMajorClassTable" xlink:label="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsByMajorClassTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfFiniteLivedIntangibleAssetsByMajorClassTable" xlink:to="lab_ScheduleOfFiniteLivedIntangibleAssetsByMajorClassTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfFiniteLivedIntangibleAssetsByMajorClassTable" xml:lang="en-US">Schedule of Finite-Lived Intangible Assets by Major Class [Table]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:label="us-gaap_FiniteLivedIntangibleAssetsLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsLineItems" xlink:to="lab_FiniteLivedIntangibleAssetsLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FiniteLivedIntangibleAssetsLineItems" xml:lang="en-US">Finite-Lived Intangible Assets [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAbstract" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAbstract" xlink:to="lab_FiniteLivedIntangibleAssetsAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FiniteLivedIntangibleAssetsAbstract" xml:lang="en-US">Finite-Lived Intangible Assets [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_GoodwillRollForward" xlink:label="us-gaap_GoodwillRollForward" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillRollForward" xlink:to="lab_GoodwillRollForward" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_GoodwillRollForward" xml:lang="en-US">Goodwill [Roll Forward]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_GoodwillRollForward" xml:lang="en-US">Changes in carrying amount of goodwill</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_AccountsPayableAndAccruedLiabilitiesCurrentDetailsAbstract" xlink:label="bidu_AccountsPayableAndAccruedLiabilitiesCurrentDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_AccountsPayableAndAccruedLiabilitiesCurrentDetailsAbstract" xlink:to="bidu_AccountsPayableAndAccruedLiabilitiesCurrentDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_AccountsPayableAndAccruedLiabilitiesCurrentDetailsAbstract_lbl" xml:lang="en-US">Accounts Payable And Accrued Liabilities Current Details [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_AccountsPayableAndAccruedLiabilitiesCurrentDetailsAbstract_lbl" xml:lang="en-US">Accounts payable and accrued liabilities, current.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_AccountsPayableAndAccruedLiabilitiesOtherCurrent" xlink:label="bidu_AccountsPayableAndAccruedLiabilitiesOtherCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_AccountsPayableAndAccruedLiabilitiesOtherCurrent" xlink:to="bidu_AccountsPayableAndAccruedLiabilitiesOtherCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_AccountsPayableAndAccruedLiabilitiesOtherCurrent_lbl" xml:lang="en-US">Accounts Payable And Accrued Liabilities Other Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bidu_AccountsPayableAndAccruedLiabilitiesOtherCurrent_lbl" xml:lang="en-US">Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_AccountsPayableAndAccruedLiabilitiesOtherCurrent_lbl" xml:lang="en-US">Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_AccountsPayableAndAccruedLiabilitiesOtherCurrent_lbl" xml:lang="en-US">Aggregate carrying amount, as of the balance sheet date, of current accounts payable and accrued liabilities not separately disclosed in the balance sheet due to materiality considerations. Current accounts payable and accrued liabilities are expected to be paid within one year (or the normal operating cycle, if longer).</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_PurchaseOfFixedAssetsPayableCurrent" xlink:label="bidu_PurchaseOfFixedAssetsPayableCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_PurchaseOfFixedAssetsPayableCurrent" xlink:to="bidu_PurchaseOfFixedAssetsPayableCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_PurchaseOfFixedAssetsPayableCurrent_lbl" xml:lang="en-US">Purchase Of Fixed Assets Payable Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_PurchaseOfFixedAssetsPayableCurrent_lbl" xml:lang="en-US">Purchase of fixed assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_PurchaseOfFixedAssetsPayableCurrent_lbl" xml:lang="en-US">Carrying value as of the balance sheet date of obligations payable to vendors for purchase of fixed assets that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle, if longer).</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_DistributorsDepositsPayableCurrent" xlink:label="bidu_DistributorsDepositsPayableCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_DistributorsDepositsPayableCurrent" xlink:to="bidu_DistributorsDepositsPayableCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_DistributorsDepositsPayableCurrent_lbl" xml:lang="en-US">Distributors Deposits Payable Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_DistributorsDepositsPayableCurrent_lbl" xml:lang="en-US">Distributors' deposits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_DistributorsDepositsPayableCurrent_lbl" xml:lang="en-US">Carrying value as of the balance sheet date of obligations payable for distributors' deposits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle, if longer).</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_TaxesPayableCurrent" xlink:label="us-gaap_TaxesPayableCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TaxesPayableCurrent" xlink:to="lab_TaxesPayableCurrent" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_TaxesPayableCurrent" xml:lang="en-US">Taxes Payable, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_TaxesPayableCurrent" xml:lang="en-US">Taxes Payable, Current, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_TaxesPayableCurrent" xml:lang="en-US">Tax payable</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:to="lab_EmployeeRelatedLiabilitiesCurrent" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EmployeeRelatedLiabilitiesCurrent" xml:lang="en-US">Employee-related Liabilities, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_EmployeeRelatedLiabilitiesCurrent" xml:lang="en-US">Employee-related Liabilities, Current, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_EmployeeRelatedLiabilitiesCurrent" xml:lang="en-US">Accrued payroll and welfare</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_AccountsPayableAndAccruedLiabilitiesCurrentTablesAbstract" xlink:label="bidu_AccountsPayableAndAccruedLiabilitiesCurrentTablesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_AccountsPayableAndAccruedLiabilitiesCurrentTablesAbstract" xlink:to="bidu_AccountsPayableAndAccruedLiabilitiesCurrentTablesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_AccountsPayableAndAccruedLiabilitiesCurrentTablesAbstract_lbl" xml:lang="en-US">Accounts Payable and Accrued Liabilities Current Tables [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_AccountsPayableAndAccruedLiabilitiesCurrentTablesAbstract_lbl" xml:lang="en-US">Accounts payable and accrued liabilities, current.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AccruedProfessionalFeesCurrent" xlink:label="us-gaap_AccruedProfessionalFeesCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedProfessionalFeesCurrent" xlink:to="lab_AccruedProfessionalFeesCurrent" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AccruedProfessionalFeesCurrent" xml:lang="en-US">Accrued Professional Fees, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_AccruedProfessionalFeesCurrent" xml:lang="en-US">Professional expenses</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_IncomeTaxesDetailsAbstract" xlink:label="bidu_IncomeTaxesDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_IncomeTaxesDetailsAbstract" xlink:to="bidu_IncomeTaxesDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IncomeTaxesDetailsAbstract_lbl" xml:lang="en-US">Income Taxes (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_IncomeTaxesDetailsAbstract_lbl" xml:lang="en-US">Income Taxes.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_IncomeTaxesTablesAbstract" xlink:label="bidu_IncomeTaxesTablesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_IncomeTaxesTablesAbstract" xlink:to="bidu_IncomeTaxesTablesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IncomeTaxesTablesAbstract_lbl" xml:lang="en-US">Income Taxes (Tables) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_IncomeTaxesTablesAbstract_lbl" xml:lang="en-US">Income Taxes.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncomeTaxAuthorityDomain" xlink:label="us-gaap_IncomeTaxAuthorityDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxAuthorityDomain" xlink:to="lab_IncomeTaxAuthorityDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncomeTaxAuthorityDomain" xml:lang="en-US">Income Tax Authority [Domain]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ComponentsOfIncomeTaxTextBlock" xlink:label="bidu_ComponentsOfIncomeTaxTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ComponentsOfIncomeTaxTextBlock" xlink:to="bidu_ComponentsOfIncomeTaxTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ComponentsOfIncomeTaxTextBlock_lbl" xml:lang="en-US">Components Of Income Tax Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ComponentsOfIncomeTaxTextBlock_lbl" xml:lang="en-US">Components of income tax.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ComponentsOfIncomeTaxTextBlock_lbl" xml:lang="en-US">Components of income tax</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:label="us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance" xlink:to="lab_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance" xml:lang="en-US">Income Tax Reconciliation, Change in Deferred Tax Assets Valuation Allowance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance" xml:lang="en-US">Valuation allowance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance" xml:lang="en-US">Addition to valuation allowance</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:label="us-gaap_CurrentIncomeTaxExpenseBenefit" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:to="lab_CurrentIncomeTaxExpenseBenefit" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CurrentIncomeTaxExpenseBenefit" xml:lang="en-US">Current Income Tax Expense (Benefit)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_CurrentIncomeTaxExpenseBenefit" xml:lang="en-US">Current Income Tax Expense (Benefit), Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CurrentIncomeTaxExpenseBenefit" xml:lang="en-US">Current income tax</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncomeTaxReconciliationNondeductibleExpense" xlink:label="us-gaap_IncomeTaxReconciliationNondeductibleExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationNondeductibleExpense" xlink:to="lab_IncomeTaxReconciliationNondeductibleExpense" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncomeTaxReconciliationNondeductibleExpense" xml:lang="en-US">Income Tax Reconciliation, Nondeductible Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_IncomeTaxReconciliationNondeductibleExpense" xml:lang="en-US">Income Tax Reconciliation, Nondeductible Expense, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IncomeTaxReconciliationNondeductibleExpense" xml:lang="en-US">Permanent differences - non-deductible expenses</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_IncomeTaxesTextualsAbstract" xlink:label="bidu_IncomeTaxesTextualsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_IncomeTaxesTextualsAbstract" xlink:to="bidu_IncomeTaxesTextualsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IncomeTaxesTextualsAbstract_lbl" xml:lang="en-US">Income Taxes Textuals Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_IncomeTaxesTextualsAbstract_lbl" xml:lang="en-US">Income Taxes.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_IncomeTaxesTextualsAbstract_lbl" xml:lang="en-US">Income Taxes (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DeferredTaxAssetsNet" xlink:label="us-gaap_DeferredTaxAssetsNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsNet" xlink:to="lab_DeferredTaxAssetsNet" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DeferredTaxAssetsNet" xml:lang="en-US">Deferred Tax Assets, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_DeferredTaxAssetsNet" xml:lang="en-US">Deferred tax assets, net</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DeferredTaxAssetsValuationAllowance" xlink:label="us-gaap_DeferredTaxAssetsValuationAllowance" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsValuationAllowance" xlink:to="lab_DeferredTaxAssetsValuationAllowance" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DeferredTaxAssetsValuationAllowance" xml:lang="en-US">Deferred Tax Assets, Valuation Allowance</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negatedTotal" xlink:label="lab_DeferredTaxAssetsValuationAllowance" xml:lang="en-US">Valuation allowance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_DeferredTaxAssetsValuationAllowance" xml:lang="en-US">Valuation allowance</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DeferredTaxAssetsGross" xlink:label="us-gaap_DeferredTaxAssetsGross" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsGross" xlink:to="lab_DeferredTaxAssetsGross" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DeferredTaxAssetsGross" xml:lang="en-US">Deferred Tax Assets, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_DeferredTaxAssetsGross" xml:lang="en-US">Deferred Tax Assets, Gross, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DeferredTaxAssetsGross" xml:lang="en-US">Deferred tax assets</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DeferredTaxAssetsOther" xlink:label="us-gaap_DeferredTaxAssetsOther" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredTaxAssetsOther" xlink:to="lab_DeferredTaxAssetsOther" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DeferredTaxAssetsOther" xml:lang="en-US">Deferred Tax Assets, Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_DeferredTaxAssetsOther" xml:lang="en-US">Accrued expenses, payroll and others</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts" xlink:label="us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts" xml:lang="en-US">Provision for doubtful receivables</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SubsequentEventsDetailsAbstract" xlink:label="bidu_SubsequentEventsDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SubsequentEventsDetailsAbstract" xlink:to="bidu_SubsequentEventsDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SubsequentEventsDetailsAbstract_lbl" xml:lang="en-US">Subsequent Events (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SubsequentEventsDetailsAbstract_lbl" xml:lang="en-US">Subsequent Events.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SubsequentEventsTextualsAbstract" xlink:label="bidu_SubsequentEventsTextualsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SubsequentEventsTextualsAbstract" xlink:to="bidu_SubsequentEventsTextualsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SubsequentEventsTextualsAbstract_lbl" xml:lang="en-US">Subsequent Events Textuals Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SubsequentEventsTextualsAbstract_lbl" xml:lang="en-US">Subsequent Events</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_SubsequentEventsTextualsAbstract_lbl" xml:lang="en-US">Subsequent Events (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_BaiduOnlineMember" xlink:label="bidu_BaiduOnlineMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_BaiduOnlineMember" xlink:to="bidu_BaiduOnlineMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_BaiduOnlineMember_lbl" xml:lang="en-US">Baidu Online [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_BaiduOnlineMember_lbl" xml:lang="en-US">Baidu Online.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_BaiduHKMember" xlink:label="bidu_BaiduHKMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_BaiduHKMember" xlink:to="bidu_BaiduHKMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_BaiduHKMember_lbl" xml:lang="en-US">Baidu H K [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_BaiduHKMember_lbl" xml:lang="en-US">Baidu HK [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_BaiduHKMember_lbl" xml:lang="en-US">Baidu HK.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_BaiduTimesMember" xlink:label="bidu_BaiduTimesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_BaiduTimesMember" xlink:to="bidu_BaiduTimesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_BaiduTimesMember_lbl" xml:lang="en-US">Baidu Times [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_BaiduTimesMember_lbl" xml:lang="en-US">Baidu Times.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:to="lab_EffectiveIncomeTaxRateContinuingOperations" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EffectiveIncomeTaxRateContinuingOperations" xml:lang="en-US">Effective Income Tax Rate, Continuing Operations</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_EffectiveIncomeTaxRateContinuingOperations" xml:lang="en-US">Effective tax rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_EffectiveIncomeTaxRateContinuingOperations" xml:lang="en-US">Effective Income Tax Rate, Continuing Operations, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_EffectiveIncomeTaxRateContinuingOperations" xml:lang="en-US">Unified EIT rate for all enterprises in China</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OperatingLossCarryforwards" xlink:label="us-gaap_OperatingLossCarryforwards" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLossCarryforwards" xlink:to="lab_OperatingLossCarryforwards" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OperatingLossCarryforwards" xml:lang="en-US">Operating Loss Carryforwards</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_OperatingLossCarryforwards" xml:lang="en-US">Operating Loss Carryforwards, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_OperatingLossCarryforwards" xml:lang="en-US">Net Operating Loss Carryforwards</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OperatingLossCarryforwardsExpirationDates" xlink:label="us-gaap_OperatingLossCarryforwardsExpirationDates" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLossCarryforwardsExpirationDates" xlink:to="lab_OperatingLossCarryforwardsExpirationDates" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_OperatingLossCarryforwardsExpirationDates" xml:lang="en-US">Expiration dates of net operating loss</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OperatingLossCarryforwardsExpirationDates" xml:lang="en-US">Operating Loss Carryforwards, Expiration Dates</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OperatingLossCarryforwardsByTaxAuthorityAxis" xlink:label="us-gaap_OperatingLossCarryforwardsByTaxAuthorityAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLossCarryforwardsByTaxAuthorityAxis" xlink:to="lab_OperatingLossCarryforwardsByTaxAuthorityAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OperatingLossCarryforwardsByTaxAuthorityAxis" xml:lang="en-US">Operating Loss Carryforwards by Tax Authority [Axis]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationTextBlock" xlink:label="bidu_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationTextBlock" xlink:to="bidu_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationTextBlock_lbl" xml:lang="en-US">Income Tax Expense Benefit Continuing Operations Income Tax Reconciliation Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationTextBlock_lbl" xml:lang="en-US">Reconciliation of tax computed by applying respective statutory income tax rate to pre-tax income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationTextBlock_lbl" xml:lang="en-US">Income tax expense benefit continuing operations income tax reconciliation.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncomeTaxReconciliationTaxExemptIncome" xlink:label="us-gaap_IncomeTaxReconciliationTaxExemptIncome" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationTaxExemptIncome" xlink:to="lab_IncomeTaxReconciliationTaxExemptIncome" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncomeTaxReconciliationTaxExemptIncome" xml:lang="en-US">Income Tax Reconciliation, Tax Exempt Income</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="lab_IncomeTaxReconciliationTaxExemptIncome" xml:lang="en-US">Permanent differences - non-taxable income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IncomeTaxReconciliationTaxExemptIncome" xml:lang="en-US">Permanent differences non-taxable income</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncomeTaxReconciliationTaxCreditsResearch" xlink:label="us-gaap_IncomeTaxReconciliationTaxCreditsResearch" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationTaxCreditsResearch" xlink:to="lab_IncomeTaxReconciliationTaxCreditsResearch" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncomeTaxReconciliationTaxCreditsResearch" xml:lang="en-US">Income Tax Reconciliation, Tax Credits, Research</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="lab_IncomeTaxReconciliationTaxCreditsResearch" xml:lang="en-US">Tax incentives relating to R&amp;D expenditures</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract" xlink:label="us-gaap_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract" xlink:to="lab_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract" xml:lang="en-US">Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationAbstract" xml:lang="en-US">Reconciliation of tax computed by applying respective statutory income tax rate to pre-tax income</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ComponentsOfDeferredTaxAssetsAbstract" xlink:label="us-gaap_ComponentsOfDeferredTaxAssetsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComponentsOfDeferredTaxAssetsAbstract" xlink:to="lab_ComponentsOfDeferredTaxAssetsAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ComponentsOfDeferredTaxAssetsAbstract" xml:lang="en-US">Components of Deferred Tax Assets [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ComponentsOfDeferredTaxAssetsAbstract" xml:lang="en-US">The tax effects of temporary differences that give rise to the deferred tax balance</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ComponentsOfDeferredTaxAssetsTextBlock" xlink:label="bidu_ComponentsOfDeferredTaxAssetsTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ComponentsOfDeferredTaxAssetsTextBlock" xlink:to="bidu_ComponentsOfDeferredTaxAssetsTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ComponentsOfDeferredTaxAssetsTextBlock_lbl" xml:lang="en-US">Components Of Deferred Tax Assets Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ComponentsOfDeferredTaxAssetsTextBlock_lbl" xml:lang="en-US">Tax effects of temporary differences that give rise to the deferred tax balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ComponentsOfDeferredTaxAssetsTextBlock_lbl" xml:lang="en-US">Tax effects of temporary differences giving rise to the deferred tax balance.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" xlink:label="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DeferredTaxAssetsOperatingLossCarryforwards" xml:lang="en-US">Deferred Tax Assets, Operating Loss Carryforwards</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_DeferredTaxAssetsOperatingLossCarryforwards" xml:lang="en-US">Deferred Tax Assets, Operating Loss Carryforwards, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DeferredTaxAssetsOperatingLossCarryforwards" xml:lang="en-US">Net operating loss carry-forward</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SegmentReportingDetailsAbstract" xlink:label="bidu_SegmentReportingDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SegmentReportingDetailsAbstract" xlink:to="bidu_SegmentReportingDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SegmentReportingDetailsAbstract_lbl" xml:lang="en-US">Segment Reporting (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SegmentReportingDetailsAbstract_lbl" xml:lang="en-US">Segment Reporting Details Abstract</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SegmentReportingTextualsAbstract" xlink:label="bidu_SegmentReportingTextualsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SegmentReportingTextualsAbstract" xlink:to="bidu_SegmentReportingTextualsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SegmentReportingTextualsAbstract_lbl" xml:lang="en-US">Segment Reporting (Textuals) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SegmentReportingTextualsAbstract_lbl" xml:lang="en-US">Segment Reporting Textuals Abstract.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_HeldToMaturitySecuritiesCurrent" xlink:label="us-gaap_HeldToMaturitySecuritiesCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HeldToMaturitySecuritiesCurrent" xlink:to="lab_HeldToMaturitySecuritiesCurrent" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_HeldToMaturitySecuritiesCurrent" xml:lang="en-US">Held-to-maturity Securities, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_HeldToMaturitySecuritiesCurrent" xml:lang="en-US">Held-to-maturity Securities, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_HeldToMaturitySecuritiesCurrent" xml:lang="en-US">Carrying value</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_HeldToMaturitySecuritiesClassifiedAbstract" xlink:label="us-gaap_HeldToMaturitySecuritiesClassifiedAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HeldToMaturitySecuritiesClassifiedAbstract" xlink:to="lab_HeldToMaturitySecuritiesClassifiedAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_HeldToMaturitySecuritiesClassifiedAbstract" xml:lang="en-US">Held-to-maturity Securities, Classified [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_HeldToMaturitySecuritiesClassifiedAbstract" xml:lang="en-US">Held-to-maturity securities</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ScheduleOfHeldToMaturitySecuritiesLineItems" xlink:label="us-gaap_ScheduleOfHeldToMaturitySecuritiesLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfHeldToMaturitySecuritiesLineItems" xlink:to="lab_ScheduleOfHeldToMaturitySecuritiesLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ScheduleOfHeldToMaturitySecuritiesLineItems" xml:lang="en-US">Short-term investments [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfHeldToMaturitySecuritiesLineItems" xml:lang="en-US">Short-term investments [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic" xlink:to="lab_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic" xml:lang="en-US">Income (Loss) from Continuing Operations before Income Taxes, Domestic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic" xml:lang="en-US">PRC</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign" xml:lang="en-US">Income (Loss) from Continuing Operations before Income Taxes, Foreign</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign" xml:lang="en-US">Non-PRC</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OperatingLossCarryforwardsLineItems" xlink:label="us-gaap_OperatingLossCarryforwardsLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLossCarryforwardsLineItems" xlink:to="lab_OperatingLossCarryforwardsLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_OperatingLossCarryforwardsLineItems" xml:lang="en-US">Operating Loss Carryforwards [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OperatingLossCarryforwardsLineItems" xml:lang="en-US">Operating Loss Carryforwards [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ScheduleOfHeldToMaturitySecuritiesTable" xlink:label="us-gaap_ScheduleOfHeldToMaturitySecuritiesTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfHeldToMaturitySecuritiesTable" xlink:to="lab_ScheduleOfHeldToMaturitySecuritiesTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfHeldToMaturitySecuritiesTable" xml:lang="en-US">Schedule of Held-to-maturity Securities [Table]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OperatingLossCarryforwardsTable" xlink:label="us-gaap_OperatingLossCarryforwardsTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLossCarryforwardsTable" xlink:to="lab_OperatingLossCarryforwardsTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OperatingLossCarryforwardsTable" xml:lang="en-US">Operating Loss Carryforwards [Table]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DomesticCountryMember" xlink:label="us-gaap_DomesticCountryMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DomesticCountryMember" xlink:to="lab_DomesticCountryMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DomesticCountryMember" xml:lang="en-US">Domestic Country [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ForeignCountryMember" xlink:label="us-gaap_ForeignCountryMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCountryMember" xlink:to="lab_ForeignCountryMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ForeignCountryMember" xml:lang="en-US">Foreign Country [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ScheduleOfHeldToMaturitySecuritiesMajorTypesOfDebtAndEquitySecuritiesAxis" xlink:label="us-gaap_ScheduleOfHeldToMaturitySecuritiesMajorTypesOfDebtAndEquitySecuritiesAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfHeldToMaturitySecuritiesMajorTypesOfDebtAndEquitySecuritiesAxis" xlink:to="us-gaap_ScheduleOfHeldToMaturitySecuritiesMajorTypesOfDebtAndEquitySecuritiesAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfHeldToMaturitySecuritiesMajorTypesOfDebtAndEquitySecuritiesAxis_lbl" xml:lang="en-US">Schedule of Held-to-maturity Securities Major Types of Debt and Equity Securities [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_MajorTypesOfDebtSecuritiesDomain" xlink:label="us-gaap_MajorTypesOfDebtSecuritiesDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MajorTypesOfDebtSecuritiesDomain" xlink:to="us-gaap_MajorTypesOfDebtSecuritiesDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_MajorTypesOfDebtSecuritiesDomain_lbl" xml:lang="en-US">Major Types of Debt Securities [Domain]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EmployeeDefinedContributionPlan" xlink:label="bidu_EmployeeDefinedContributionPlan" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EmployeeDefinedContributionPlan" xlink:to="bidu_EmployeeDefinedContributionPlan_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EmployeeDefinedContributionPlan_lbl" xml:lang="en-US">Employee Defined Contribution Plan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_EmployeeDefinedContributionPlan_lbl" xml:lang="en-US">Total amounts incurred for employee defined contribution plan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EmployeeDefinedContributionPlan_lbl" xml:lang="en-US">Full time employees of the Group in the PRC participate in a government mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives" xlink:label="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives" xlink:to="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives_lbl" xml:lang="en-US">Property Plant And Equipment Estimated Useful Lives</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives_lbl" xml:lang="en-US">Property Plant and Equipment, Useful life (in years)</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_CurrencyTranslationRateForFinancialStatementsPresentation" xlink:label="bidu_CurrencyTranslationRateForFinancialStatementsPresentation" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_CurrencyTranslationRateForFinancialStatementsPresentation" xlink:to="bidu_CurrencyTranslationRateForFinancialStatementsPresentation_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_CurrencyTranslationRateForFinancialStatementsPresentation_lbl" xml:lang="en-US">Currency Translation Rate For Financial Statements Presentation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_CurrencyTranslationRateForFinancialStatementsPresentation_lbl" xml:lang="en-US">Exchange rate used for conversion of financial statements from RMB to US dollar</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_CurrencyTranslationRateForFinancialStatementsPresentation_lbl" xml:lang="en-US">Translation rate of amounts from RMB into US$ for the convenience of the reader have been calculated at the exchange rate on the last date of calendar year-end reporting period as published on the website of the Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into U.S. dollars at such rate.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ScheduleOfGuaranteeObligationsTextBlock" xlink:label="us-gaap_ScheduleOfGuaranteeObligationsTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfGuaranteeObligationsTextBlock" xlink:to="lab_ScheduleOfGuaranteeObligationsTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfGuaranteeObligationsTextBlock" xml:lang="en-US">Schedule of Guarantor Obligations [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ScheduleOfGuaranteeObligationsTextBlock" xml:lang="en-US">Guarantees</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:to="lab_RestrictedCashAndCashEquivalentsAtCarryingValue" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_RestrictedCashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Restricted Cash and Cash Equivalents, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_RestrictedCashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Restricted cash</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_RestrictedCashAndCashEquivalentsAtCarryingValue" xml:lang="en-US">Customer deposits included in cash and cash equivalents</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_RateUsedToDetermineSomePropertyPlantAndEquipmentsEstimatedResidualValue" xlink:label="bidu_RateUsedToDetermineSomePropertyPlantAndEquipmentsEstimatedResidualValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_RateUsedToDetermineSomePropertyPlantAndEquipmentsEstimatedResidualValue" xlink:to="bidu_RateUsedToDetermineSomePropertyPlantAndEquipmentsEstimatedResidualValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_RateUsedToDetermineSomePropertyPlantAndEquipmentsEstimatedResidualValue_lbl" xml:lang="en-US">Rate Used To Determine Some Property Plant And Equipments Estimated Residual Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_RateUsedToDetermineSomePropertyPlantAndEquipmentsEstimatedResidualValue_lbl" xml:lang="en-US">Rate Used To Determine Some Property Plant And Equipments Estimated Residual Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_RateUsedToDetermineSomePropertyPlantAndEquipmentsEstimatedResidualValue_lbl" xml:lang="en-US">An estimated rate of the cost used to determine estimated residual value of some property,plant and equipments.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_PropertyPlantAndEquipmentUsefulLifeMinimumAnother" xlink:label="bidu_PropertyPlantAndEquipmentUsefulLifeMinimumAnother" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_PropertyPlantAndEquipmentUsefulLifeMinimumAnother" xlink:to="bidu_PropertyPlantAndEquipmentUsefulLifeMinimumAnother_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_PropertyPlantAndEquipmentUsefulLifeMinimumAnother_lbl" xml:lang="en-US">Property Plant And Equipment Useful Life Minimum Another</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_PropertyPlantAndEquipmentUsefulLifeMinimumAnother_lbl" xml:lang="en-US">Property Plant and Equipment, Useful life (in years)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_PropertyPlantAndEquipmentUsefulLifeMinimumAnother_lbl" xml:lang="en-US">The minimum useful life of long lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land and improvements, buildings, and production equipment.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_FinancialSubsidiesReceivedFromGovernment" xlink:label="bidu_FinancialSubsidiesReceivedFromGovernment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_FinancialSubsidiesReceivedFromGovernment" xlink:to="bidu_FinancialSubsidiesReceivedFromGovernment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_FinancialSubsidiesReceivedFromGovernment_lbl" xml:lang="en-US">Financial Subsidies Received From Government</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_FinancialSubsidiesReceivedFromGovernment_lbl" xml:lang="en-US">Financial subsidies received from provincial and local governments for operating a business in their jurisdictions and compliance with specific policies promoted by the local governments and such amounts are recorded as other income when received and there are no further conditions to be met before recognition.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_FinancialSubsidiesReceivedFromGovernment_lbl" xml:lang="en-US">Financial subsidies received</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_DescriptionOfNewAccountingPronouncementsNotYetAdoptedTextBlock" xlink:label="bidu_DescriptionOfNewAccountingPronouncementsNotYetAdoptedTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_DescriptionOfNewAccountingPronouncementsNotYetAdoptedTextBlock" xlink:to="bidu_DescriptionOfNewAccountingPronouncementsNotYetAdoptedTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_DescriptionOfNewAccountingPronouncementsNotYetAdoptedTextBlock_lbl" xml:lang="en-US">Description Of New Accounting Pronouncements Not Yet Adopted Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_DescriptionOfNewAccountingPronouncementsNotYetAdoptedTextBlock_lbl" xml:lang="en-US">Recent Accounting Pronouncements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_DescriptionOfNewAccountingPronouncementsNotYetAdoptedTextBlock_lbl" xml:lang="en-US">For a new accounting pronouncement that has been issued but not yet adopted, an entity's disclosure should (1) describe the new pronouncement, the date that adoption is required and the date that the entity plans to adopt, if earlier; (2) discuss the methods of adoption allowed by the pronouncement and the method expected to be utilized by the entity, if determined; (3) discuss the impact that adoption of the pronouncement is expected to have on the financial statements of the entity, unless such impact is not known or reasonably estimable (in which case, a statement to that effect should be made) and; (4) disclose the potential impact of other significant matters that the entity believes might result from the adoption of the pronouncement (for example, technical violations of debt covenant agreements and planned or intended changes in business practices).</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" xlink:to="lab_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Basic [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_NetIncomeLossAvailableToCommonStockholdersBasicAbstract" xml:lang="en-US">Numerator</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract" xlink:to="lab_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract" xml:lang="en-US">Net Income (Loss) Available to Common Stockholders, Diluted [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_NetIncomeLossAvailableToCommonStockholdersDilutedAbstract" xml:lang="en-US">Numerator</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ReallocationOfUndistributedEarningsAsResultOfConversionOfClassBToClassAShares" xlink:label="bidu_ReallocationOfUndistributedEarningsAsResultOfConversionOfClassBToClassAShares" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ReallocationOfUndistributedEarningsAsResultOfConversionOfClassBToClassAShares" xlink:to="bidu_ReallocationOfUndistributedEarningsAsResultOfConversionOfClassBToClassAShares_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ReallocationOfUndistributedEarningsAsResultOfConversionOfClassBToClassAShares_lbl" xml:lang="en-US">Reallocation Of Undistributed Earnings As Result Of Conversion Of Class B To Class A Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bidu_ReallocationOfUndistributedEarningsAsResultOfConversionOfClassBToClassAShares_lbl" xml:lang="en-US">Reallocation of undistributed earnings as a result of conversion of class B to class A shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ReallocationOfUndistributedEarningsAsResultOfConversionOfClassBToClassAShares_lbl" xml:lang="en-US">Reallocation of undistributed earnings as a result of conversion of class B to class A shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ReallocationOfUndistributedEarningsAsResultOfConversionOfClassBToClassAShares_lbl" xml:lang="en-US">Reallocation of undistributed earnings as a result of conversion of class B to class A shares.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ConcentrationRiskPercentage" xlink:label="us-gaap_ConcentrationRiskPercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskPercentage" xlink:to="lab_ConcentrationRiskPercentage" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ConcentrationRiskPercentage" xml:lang="en-US">Concentration Risk, Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ConcentrationRiskPercentage" xml:lang="en-US">Ratio of cash, bank deposits and money market funds in the PRC to total cash and cash equivalents and short-term investments</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ThresholdOfBusinessRiskAssociatedWithAmountOfRevenueGeneratedByAnySingleCustomerOrUnionMemberOfEntity" xlink:label="bidu_ThresholdOfBusinessRiskAssociatedWithAmountOfRevenueGeneratedByAnySingleCustomerOrUnionMemberOfEntity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ThresholdOfBusinessRiskAssociatedWithAmountOfRevenueGeneratedByAnySingleCustomerOrUnionMemberOfEntity" xlink:to="bidu_ThresholdOfBusinessRiskAssociatedWithAmountOfRevenueGeneratedByAnySingleCustomerOrUnionMemberOfEntity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ThresholdOfBusinessRiskAssociatedWithAmountOfRevenueGeneratedByAnySingleCustomerOrUnionMemberOfEntity_lbl" xml:lang="en-US">Threshold Of Business Risk Associated With Amount Of Revenue Generated By Any Single Customer Or Union Member Of Entity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ThresholdOfBusinessRiskAssociatedWithAmountOfRevenueGeneratedByAnySingleCustomerOrUnionMemberOfEntity_lbl" xml:lang="en-US">Threshold of business risk associated with amount of revenue generated by any single customer or union member of company</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ThresholdOfBusinessRiskAssociatedWithAmountOfRevenueGeneratedByAnySingleCustomerOrUnionMemberOfEntity_lbl" xml:lang="en-US">Threshold of business risk associated with amount of revenue generated by any single customer or union member of entity.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ReceivablesFromEmployees" xlink:label="bidu_ReceivablesFromEmployees" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ReceivablesFromEmployees" xlink:to="bidu_ReceivablesFromEmployees_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ReceivablesFromEmployees_lbl" xml:lang="en-US">Receivables from Employees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ReceivablesFromEmployees_lbl" xml:lang="en-US">Receivables from employees</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ReceivablesFromEmployees_lbl" xml:lang="en-US">Receivables from employees.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_OtherAssetsCurrentOther" xlink:label="bidu_OtherAssetsCurrentOther" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_OtherAssetsCurrentOther" xlink:to="bidu_OtherAssetsCurrentOther_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_OtherAssetsCurrentOther_lbl" xml:lang="en-US">Other Assets Current Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bidu_OtherAssetsCurrentOther_lbl" xml:lang="en-US">Other</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_OtherAssetsCurrentOther_lbl" xml:lang="en-US">Aggregate carrying amount, as of the balance sheet date, of other current assets not separately presented elsewhere in the table "Other Assets,Current".</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_PropertyPlantAndEquipmentNetTextualsAbstract" xlink:label="bidu_PropertyPlantAndEquipmentNetTextualsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_PropertyPlantAndEquipmentNetTextualsAbstract" xlink:to="bidu_PropertyPlantAndEquipmentNetTextualsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_PropertyPlantAndEquipmentNetTextualsAbstract_lbl" xml:lang="en-US">Property Plant And Equipment Net Textuals Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_PropertyPlantAndEquipmentNetTextualsAbstract_lbl" xml:lang="en-US">Fixed Assets (Textuals) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_PropertyPlantAndEquipmentNetTextualsAbstract_lbl" xml:lang="en-US">Fixed assets textuals abstract.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwillAbstract" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwillAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IntangibleAssetsNetExcludingGoodwillAbstract" xlink:to="us-gaap_IntangibleAssetsNetExcludingGoodwillAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwillAbstract_lbl" xml:lang="en-US">[IntangibleAssetsNetExcludingGoodwillAbstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IntangibleAssetsNetExcludingGoodwillAbstract_lbl" xml:lang="en-US">Intangible assets</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_AmountOfNetAssetsOfEntitysPRCSubsidiariesAndVIEsRestrictedFromBeingTransferredToEntity" xlink:label="bidu_AmountOfNetAssetsOfEntitysPRCSubsidiariesAndVIEsRestrictedFromBeingTransferredToEntity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_AmountOfNetAssetsOfEntitysPRCSubsidiariesAndVIEsRestrictedFromBeingTransferredToEntity" xlink:to="bidu_AmountOfNetAssetsOfEntitysPRCSubsidiariesAndVIEsRestrictedFromBeingTransferredToEntity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_AmountOfNetAssetsOfEntitysPRCSubsidiariesAndVIEsRestrictedFromBeingTransferredToEntity_lbl" xml:lang="en-US">Amount Of Net Assets Of Entitys P R C Subsidiaries And V I Es Restricted From Being Transferred To Entity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_AmountOfNetAssetsOfEntitysPRCSubsidiariesAndVIEsRestrictedFromBeingTransferredToEntity_lbl" xml:lang="en-US">Amount of net assets of entity's PRC subsidiaries and VIEs restricted from being transferred to entity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_AmountOfNetAssetsOfEntitysPRCSubsidiariesAndVIEsRestrictedFromBeingTransferredToEntity_lbl" xml:lang="en-US">Under PRC laws and regulations, there are restrictions on the Entity's PRC subsidiaries and VIEs with respect to transferring certain of their net assets to the Entity either in the form of dividends, loans, or advances. Amounts restricted include paid up capital and statutory reserve funds of the Entity's PRC subsidiaries and the net assets of VIEs in which the Entity has no legal ownership.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_CashBankDepositsAndMoneyMarketFundsInPRC" xlink:label="bidu_CashBankDepositsAndMoneyMarketFundsInPRC" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_CashBankDepositsAndMoneyMarketFundsInPRC" xlink:to="bidu_CashBankDepositsAndMoneyMarketFundsInPRC_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_CashBankDepositsAndMoneyMarketFundsInPRC_lbl" xml:lang="en-US">Cash, Bank Deposits And Money Market Funds In P R C</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_CashBankDepositsAndMoneyMarketFundsInPRC_lbl" xml:lang="en-US">Cash, Bank Deposits and Money Market Funds in the PRC</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_CashBankDepositsAndMoneyMarketFundsInPRC_lbl" xml:lang="en-US">Amount of cash, bank deposits and money market funds the entity has in the PRC.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ConvertiblePreferredStockSharesIssuedUponConversion" xlink:label="us-gaap_ConvertiblePreferredStockSharesIssuedUponConversion" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConvertiblePreferredStockSharesIssuedUponConversion" xlink:to="lab_ConvertiblePreferredStockSharesIssuedUponConversion" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ConvertiblePreferredStockSharesIssuedUponConversion" xml:lang="en-US">Convertible Preferred Stock, Shares Issued upon Conversion</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ConvertiblePreferredStockSharesIssuedUponConversion" xml:lang="en-US">Issuance of Class B Ordinary shares upon conversion of all convertible preferred shares upon completion of IPO</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CommonStockVotingRights" xlink:label="us-gaap_CommonStockVotingRights" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockVotingRights" xlink:to="lab_CommonStockVotingRights" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CommonStockVotingRights" xml:lang="en-US">Common Stock, Voting Rights</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CommonStockVotingRights" xml:lang="en-US">Number of votes per share</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ScheduleOfStockByClassTable" xlink:label="us-gaap_ScheduleOfStockByClassTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfStockByClassTable" xlink:to="lab_ScheduleOfStockByClassTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfStockByClassTable" xml:lang="en-US">Schedule of Stock by Class [Table]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ClassOfStockLineItems" xlink:label="us-gaap_ClassOfStockLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfStockLineItems" xlink:to="lab_ClassOfStockLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ClassOfStockLineItems" xml:lang="en-US">Class of Stock [Line Items]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ShareBasedAwardsPlanDetailsAbstract" xlink:label="bidu_ShareBasedAwardsPlanDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ShareBasedAwardsPlanDetailsAbstract" xlink:to="bidu_ShareBasedAwardsPlanDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ShareBasedAwardsPlanDetailsAbstract_lbl" xml:lang="en-US">Share Based Awards Plan (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ShareBasedAwardsPlanDetailsAbstract_lbl" xml:lang="en-US">Share Based Awards Plan.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ShareBasedAwardsPlanTablesAbstract" xlink:label="bidu_ShareBasedAwardsPlanTablesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ShareBasedAwardsPlanTablesAbstract" xlink:to="bidu_ShareBasedAwardsPlanTablesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ShareBasedAwardsPlanTablesAbstract_lbl" xml:lang="en-US">Share Based Awards Plan (Tables) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ShareBasedAwardsPlanTablesAbstract_lbl" xml:lang="en-US">Share Based Awards Plan.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xml:lang="en-US">Number of Shares, Outstanding, December 31, 2010</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xml:lang="en-US">Number of Shares, Outstanding, December 31, 2009</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber" xml:lang="en-US">Reserved ordinary shares for issuance</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xml:lang="en-US">Aggregate Intrinsic Value (US$) (In Thousands),Outstanding, December 31, 2010</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xml:lang="en-US">Aggregate Intrinsic Value (US$) (In Thousands),Outstanding,December 31, 2009</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod" xml:lang="en-US">Number of Shares, Granted</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriod" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriod" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriod" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriod" xml:lang="en-US">Number of Shares, Exercised</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xml:lang="en-US">Number of Shares, Forfeited/Cancelled</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod" xml:lang="en-US">Number of Shares, Expired</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber" xml:lang="en-US">Number of Shares, Vested and expected to vest at December 31, 2010</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice" xml:lang="en-US">Weighted-Average Exercise Price, Vested and expected to vest at December 31, 2010</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue" xml:lang="en-US">Total intrinsic value of options exercised</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue" xml:lang="en-US">Aggregate Intrinsic Value (US$) (In Thousands), Vested and expected to vest at December 31, 2010</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_RestrictedSharesActivityAbstract" xlink:label="bidu_RestrictedSharesActivityAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_RestrictedSharesActivityAbstract" xlink:to="bidu_RestrictedSharesActivityAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_RestrictedSharesActivityAbstract_lbl" xml:lang="en-US">Restricted Shares Activity Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_RestrictedSharesActivityAbstract_lbl" xml:lang="en-US">Restricted Shares Activity</label>
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    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue" xml:lang="en-US">Weighted Average Grant Date Fair Value, Vested</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod" xml:lang="en-US">Number of Shares, Forfeited</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price</label>
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    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue" xml:lang="en-US">Weighted Average Grant Date Fair Value, Nonvested, December 31, 2010</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_MinimumMember_lbl" xml:lang="en-US">Minimum [Member]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_MaximumMember" xlink:to="bidu_MaximumMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_MaximumMember_lbl" xml:lang="en-US">Maximum [Member]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:to="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable_lbl" xml:lang="en-US">Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis" xlink:to="us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis_lbl" xml:lang="en-US">Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Award Type And Plan Name [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl" xml:lang="en-US">Share Based Compensation Arrangements By Share Based Payment Award Award Type And Plan Name [Domain]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_Plan2000Member_lbl" xml:lang="en-US">Plan 2000 Member.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_Plan2008Member" xlink:label="bidu_Plan2008Member" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_Plan2008Member" xlink:to="bidu_Plan2008Member_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_Plan2008Member_lbl" xml:lang="en-US">Plan 2008 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_Plan2008Member_lbl" xml:lang="en-US">2008 Plan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_Plan2008Member_lbl" xml:lang="en-US">Plan 2008 Member.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_FairValueMeasurementTablesAbstract" xlink:label="bidu_FairValueMeasurementTablesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_FairValueMeasurementTablesAbstract" xlink:to="bidu_FairValueMeasurementTablesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_FairValueMeasurementTablesAbstract_lbl" xml:lang="en-US">Fair Value Measurement (Tables) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_FairValueMeasurementTablesAbstract_lbl" xml:lang="en-US">Fair Value Measurement Tables Abstract.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FairValueAssetsMeasuredOnRecurringBasisTextBlock" xml:lang="en-US">Assets measured at fair value on a recurring basis</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueAssetsMeasuredOnRecurringBasisTextBlock" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis [Text Block]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_FairValueMeasurementDetailsAbstract" xlink:label="bidu_FairValueMeasurementDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_FairValueMeasurementDetailsAbstract" xlink:to="bidu_FairValueMeasurementDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_FairValueMeasurementDetailsAbstract_lbl" xml:lang="en-US">Fair Value Measurement (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_FairValueMeasurementDetailsAbstract_lbl" xml:lang="en-US">Fair Value Measurement Details Abstract.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisCashAndCashEquivalents" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisCashAndCashEquivalents" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsMeasuredOnRecurringBasisCashAndCashEquivalents" xlink:to="lab_FairValueAssetsMeasuredOnRecurringBasisCashAndCashEquivalents" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueAssetsMeasuredOnRecurringBasisCashAndCashEquivalents" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Cash and Cash Equivalents</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_FairValueAssetsMeasuredOnRecurringBasisCashAndCashEquivalents" xml:lang="en-US">Total</label>
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    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisDisclosureItemsAxis" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisDisclosureItemsAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsMeasuredOnRecurringBasisDisclosureItemsAxis" xlink:to="lab_FairValueAssetsMeasuredOnRecurringBasisDisclosureItemsAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueAssetsMeasuredOnRecurringBasisDisclosureItemsAxis" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Disclosure Items [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisDisclosureItemsDomain" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisDisclosureItemsDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsMeasuredOnRecurringBasisDisclosureItemsDomain" xlink:to="lab_FairValueAssetsMeasuredOnRecurringBasisDisclosureItemsDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueAssetsMeasuredOnRecurringBasisDisclosureItemsDomain" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Disclosure Items [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="us-gaap_FairValueInputsLevel1Member" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel1Member" xlink:to="lab_FairValueInputsLevel1Member" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueInputsLevel1Member" xml:lang="en-US">Fair Value Inputs Level 1 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FairValueInputsLevel1Member" xml:lang="en-US">Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="us-gaap_FairValueInputsLevel2Member" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel2Member" xlink:to="lab_FairValueInputsLevel2Member" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueInputsLevel2Member" xml:lang="en-US">Fair Value Inputs Level 2 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FairValueInputsLevel2Member" xml:lang="en-US">Significant Other Observable Inputs (Level 2) [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="us-gaap_FairValueInputsLevel3Member" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel3Member" xlink:to="lab_FairValueInputsLevel3Member" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueInputsLevel3Member" xml:lang="en-US">Fair Value Inputs Level 3 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FairValueInputsLevel3Member" xml:lang="en-US">Significant Unobservable Inputs (Level 3) [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FairValueOptionQuantitativeDisclosuresTable" xlink:label="us-gaap_FairValueOptionQuantitativeDisclosuresTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueOptionQuantitativeDisclosuresTable" xlink:to="lab_FairValueOptionQuantitativeDisclosuresTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueOptionQuantitativeDisclosuresTable" xml:lang="en-US">Fair Value, Option, Quantitative Disclosures [Table]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis" xlink:label="us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis" xlink:to="lab_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis" xml:lang="en-US">Fair Value, Option, Quantitative Disclosures, by Eligible Item or Group [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FairValueOptionEligibleItemOrGroupDomain" xlink:label="us-gaap_FairValueOptionEligibleItemOrGroupDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueOptionEligibleItemOrGroupDomain" xlink:to="lab_FairValueOptionEligibleItemOrGroupDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueOptionEligibleItemOrGroupDomain" xml:lang="en-US">Fair Value, Option, Eligible Item or Group [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_MoneyMarketFundsMember" xlink:label="us-gaap_MoneyMarketFundsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_MoneyMarketFundsMember" xlink:to="lab_MoneyMarketFundsMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_MoneyMarketFundsMember" xml:lang="en-US">Money Market Funds [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_MoneyMarketFundsMember" xml:lang="en-US">Money Market Fund [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xml:lang="en-US">Number of Shares, Exercisable at December 31, 2010</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xml:lang="en-US">Weighted-Average Exercise Price, Exercisable at December 31, 2010</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xml:lang="en-US">Total intrinsic value of options exercised</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationUnrecognizedCompensationCostsOnNonvestedAwards" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationUnrecognizedCompensationCostsOnNonvestedAwards" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationUnrecognizedCompensationCostsOnNonvestedAwards" xlink:to="lab_EmployeeServiceShareBasedCompensationUnrecognizedCompensationCostsOnNonvestedAwards" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EmployeeServiceShareBasedCompensationUnrecognizedCompensationCostsOnNonvestedAwards" xml:lang="en-US">Employee Service Share-based Compensation, Unrecognized Compensation Costs on Nonvested Awards</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_EmployeeServiceShareBasedCompensationUnrecognizedCompensationCostsOnNonvestedAwards" xml:lang="en-US">Unrecognized share-based compensation cost related to share options and restricted shares</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_StockOptionsMember" xlink:label="us-gaap_StockOptionsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockOptionsMember" xlink:to="lab_StockOptionsMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_StockOptionsMember" xml:lang="en-US">Share Options [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_StockOptionsMember" xml:lang="en-US">Share Option [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_RestrictedStockMember" xlink:label="us-gaap_RestrictedStockMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RestrictedStockMember" xlink:to="lab_RestrictedStockMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_RestrictedStockMember" xml:lang="en-US">Restricted Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_RestrictedStockMember" xml:lang="en-US">Restricted Shares [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationUnrecognizedCompensationCostsOnNonvestedAwardsWeightedAveragePeriodOfRecognition" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationUnrecognizedCompensationCostsOnNonvestedAwardsWeightedAveragePeriodOfRecognition" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationUnrecognizedCompensationCostsOnNonvestedAwardsWeightedAveragePeriodOfRecognition" xlink:to="lab_EmployeeServiceShareBasedCompensationUnrecognizedCompensationCostsOnNonvestedAwardsWeightedAveragePeriodOfRecognition" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_EmployeeServiceShareBasedCompensationUnrecognizedCompensationCostsOnNonvestedAwardsWeightedAveragePeriodOfRecognition" xml:lang="en-US">A weighted-average vesting period over which the deferred cost is expected to be recognized (in years)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EmployeeServiceShareBasedCompensationUnrecognizedCompensationCostsOnNonvestedAwardsWeightedAveragePeriodOfRecognition" xml:lang="en-US">Employee Service Share-based Compensation, Unrecognized Compensation Costs on Nonvested Awards, Weighted Average Period of Recognition</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod_lbl" xml:lang="en-US">Vesting period of share-based awards</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod_lbl" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ShareBasedAwardsPlanAxis" xlink:label="bidu_ShareBasedAwardsPlanAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ShareBasedAwardsPlanAxis" xlink:to="bidu_ShareBasedAwardsPlanAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ShareBasedAwardsPlanAxis_lbl" xml:lang="en-US">Share Based Awards Plan [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ShareBasedAwardsPlanAxis_lbl" xml:lang="en-US">Share Based Awards Plan Axis.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ShareBasedAwardsPlanDomain" xlink:label="bidu_ShareBasedAwardsPlanDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ShareBasedAwardsPlanDomain" xlink:to="bidu_ShareBasedAwardsPlanDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ShareBasedAwardsPlanDomain_lbl" xml:lang="en-US">Share Based Awards Plan [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ShareBasedAwardsPlanDomain_lbl" xml:lang="en-US">Share Based Awards Plan Domain.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_MovementsInAllowanceForDoubtfulAccountsRollForwardTextBlock" xlink:label="bidu_MovementsInAllowanceForDoubtfulAccountsRollForwardTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_MovementsInAllowanceForDoubtfulAccountsRollForwardTextBlock" xlink:to="bidu_MovementsInAllowanceForDoubtfulAccountsRollForwardTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_MovementsInAllowanceForDoubtfulAccountsRollForwardTextBlock_lbl" xml:lang="en-US">Movements In Allowance For Doubtful Accounts Roll Forward Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_MovementsInAllowanceForDoubtfulAccountsRollForwardTextBlock_lbl" xml:lang="en-US">Movements in allowance for doubtful accounts Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_MovementsInAllowanceForDoubtfulAccountsRollForwardTextBlock_lbl" xml:lang="en-US">Disclosure of movements in allowance for doubtful accounts for accounts receivable. This disclosure includes write-offs and amounts credited against to costs and expenses.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_MovementsInAllowanceForDoubtfulAccountsRollForward" xlink:label="bidu_MovementsInAllowanceForDoubtfulAccountsRollForward" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_MovementsInAllowanceForDoubtfulAccountsRollForward" xlink:to="bidu_MovementsInAllowanceForDoubtfulAccountsRollForward_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_MovementsInAllowanceForDoubtfulAccountsRollForward_lbl" xml:lang="en-US">Movements In Allowance For Doubtful Accounts Roll Forward</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_MovementsInAllowanceForDoubtfulAccountsRollForward_lbl" xml:lang="en-US">Movements in allowance for doubtful accounts balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_MovementsInAllowanceForDoubtfulAccountsRollForward_lbl" xml:lang="en-US">Movements in allowance for doubtful accounts roll forward.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_NumberOfOperatingSegment" xlink:label="bidu_NumberOfOperatingSegment" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_NumberOfOperatingSegment" xlink:to="bidu_NumberOfOperatingSegment_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_NumberOfOperatingSegment_lbl" xml:lang="en-US">Number of operating segment</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_NumberOfOperatingSegment_lbl" xml:lang="en-US">The number of operating segment the entity has.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions" xlink:label="bidu_BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions" xlink:to="bidu_BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions_lbl" xml:lang="en-US">Basic Earnings Per Class A And Class B Ordinary Shares Effect Of Domestic Income Tax Expense Benefit Difference Due To Tax Exemptions And Reductions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bidu_BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions_lbl" xml:lang="en-US">Basic earnings per Class A and Class B ordinary shares effect of tax exemptions and reductions inside PRC</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions_lbl" xml:lang="en-US">Basic earnings per share for Class A and Class B ordinary shares effect of tax exemptions and reductions inside the PRC</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions_lbl" xml:lang="en-US">Basic earnings per Class A and Class B ordinary shares effect of domestic income tax expense benefit difference due to tax exemptions and reductions.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_IncomeTaxReconciliationDomesticIncomeTaxRateDifferential" xlink:label="bidu_IncomeTaxReconciliationDomesticIncomeTaxRateDifferential" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_IncomeTaxReconciliationDomesticIncomeTaxRateDifferential" xlink:to="bidu_IncomeTaxReconciliationDomesticIncomeTaxRateDifferential_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IncomeTaxReconciliationDomesticIncomeTaxRateDifferential_lbl" xml:lang="en-US">Income Tax Reconciliation Domestic Income Tax Rate Differential</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_IncomeTaxReconciliationDomesticIncomeTaxRateDifferential_lbl" xml:lang="en-US">The portion of the difference, between total income tax expense (benefit) as reported in the Income Statement for the period and the expected income tax expense (benefit) computed by applying the unified statutory income tax rates to pretax income from continuing operations, that is attributable to total domestic income tax expense (benefit). The domestic income tax expense (benefit) difference represents the income tax expense (benefit) at applicable unified statutory income tax rates applied to domestic  earnings (loss) for the period versus the domestic income tax expense (benefit) calculated by applying the appropriate tax rates for the entity's domestic subsidiaries and VIEs.</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="bidu_IncomeTaxReconciliationDomesticIncomeTaxRateDifferential_lbl" xml:lang="en-US">Effect of tax exemption and reduction inside PRC</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtUnifiedStatutoryIncomeTaxRate" xlink:label="bidu_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtUnifiedStatutoryIncomeTaxRate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtUnifiedStatutoryIncomeTaxRate" xlink:to="bidu_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtUnifiedStatutoryIncomeTaxRate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtUnifiedStatutoryIncomeTaxRate_lbl" xml:lang="en-US">Income Tax Reconciliation Income Tax Expense Benefit At Unified Statutory Income Tax Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtUnifiedStatutoryIncomeTaxRate_lbl" xml:lang="en-US">Expected taxation at PRC EIT statutory rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtUnifiedStatutoryIncomeTaxRate_lbl" xml:lang="en-US">The amount of income tax expense (benefit) for the period computed by applying the unified statutory tax rates to pretax income from continuing operations.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions" xlink:label="us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions" xlink:to="lab_TaxAdjustmentsSettlementsAndUnusualProvisions" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_TaxAdjustmentsSettlementsAndUnusualProvisions" xml:lang="en-US">Tax Adjustments, Settlements, and Unusual Provisions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_TaxAdjustmentsSettlementsAndUnusualProvisions" xml:lang="en-US">Income tax refund due to overpaid provisional tax</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_TaxAdjustmentsSettlementsAndUnusualProvisions" xml:lang="en-US">Income tax refund due to reduced transitional tax rate</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_IncomeLossBeforeIncomeTaxesByJurisdictionTextBlock" xlink:label="bidu_IncomeLossBeforeIncomeTaxesByJurisdictionTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_IncomeLossBeforeIncomeTaxesByJurisdictionTextBlock" xlink:to="bidu_IncomeLossBeforeIncomeTaxesByJurisdictionTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IncomeLossBeforeIncomeTaxesByJurisdictionTextBlock_lbl" xml:lang="en-US">Income Loss Before Income Taxes By Jurisdiction Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_IncomeLossBeforeIncomeTaxesByJurisdictionTextBlock_lbl" xml:lang="en-US">Income (loss) before income taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_IncomeLossBeforeIncomeTaxesByJurisdictionTextBlock_lbl" xml:lang="en-US">Income (loss) before income taxes, by jurisdiction.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_TimePeriodThatTaxAuthoritiesCouldConductExaminationsOfEntitysTaxFilings" xlink:label="bidu_TimePeriodThatTaxAuthoritiesCouldConductExaminationsOfEntitysTaxFilings" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_TimePeriodThatTaxAuthoritiesCouldConductExaminationsOfEntitysTaxFilings" xlink:to="bidu_TimePeriodThatTaxAuthoritiesCouldConductExaminationsOfEntitysTaxFilings_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_TimePeriodThatTaxAuthoritiesCouldConductExaminationsOfEntitysTaxFilings_lbl" xml:lang="en-US">Time Period That Tax Authorities Could Conduct Examinations Of Entitys Tax Filings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_TimePeriodThatTaxAuthoritiesCouldConductExaminationsOfEntitysTaxFilings_lbl" xml:lang="en-US">Time period that tax authorities could conduct examinations of entity's tax filings</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_TimePeriodThatTaxAuthoritiesCouldConductExaminationsOfEntitysTaxFilings_lbl" xml:lang="en-US">Time Period That Tax Authorities Could Conduct Examinations Of Entity's Tax Filings.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_PropertyPlantAndEquipmentsResidualValue" xlink:label="bidu_PropertyPlantAndEquipmentsResidualValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_PropertyPlantAndEquipmentsResidualValue" xlink:to="bidu_PropertyPlantAndEquipmentsResidualValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_PropertyPlantAndEquipmentsResidualValue_lbl" xml:lang="en-US">Property Plant And Equipments Residual Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_PropertyPlantAndEquipmentsResidualValue_lbl" xml:lang="en-US">The estimated fair value of a fixed asset at the end of its useful life to an entity, less any disposal costs.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_PropertyPlantAndEquipmentsResidualValue_lbl" xml:lang="en-US">Property Plant And Equipments Residual Value</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_AppreciationOrDepreciationOfFunctionalCurrencyOfEntityAndItsSubsidiariesAndVIEsAgainstReportingCurrencyByPercentage" xlink:label="bidu_AppreciationOrDepreciationOfFunctionalCurrencyOfEntityAndItsSubsidiariesAndVIEsAgainstReportingCurrencyByPercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_AppreciationOrDepreciationOfFunctionalCurrencyOfEntityAndItsSubsidiariesAndVIEsAgainstReportingCurrencyByPercentage" xlink:to="bidu_AppreciationOrDepreciationOfFunctionalCurrencyOfEntityAndItsSubsidiariesAndVIEsAgainstReportingCurrencyByPercentage_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_AppreciationOrDepreciationOfFunctionalCurrencyOfEntityAndItsSubsidiariesAndVIEsAgainstReportingCurrencyByPercentage_lbl" xml:lang="en-US">Appreciation Or Depreciation Of Functional Currency Of Entity And Its Subsidiaries And V I Es Against Reporting Currency By Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_AppreciationOrDepreciationOfFunctionalCurrencyOfEntityAndItsSubsidiariesAndVIEsAgainstReportingCurrencyByPercentage_lbl" xml:lang="en-US">Appreciation or Depreciation of Functional Currency of Entity and Its Subsidiaries and VIEs against Reporting Currency by Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_AppreciationOrDepreciationOfFunctionalCurrencyOfEntityAndItsSubsidiariesAndVIEsAgainstReportingCurrencyByPercentage_lbl" xml:lang="en-US">Appreciation or depreciation of functional currency of entity and its subsidiaries and VIEs against reporting currency by percentage.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_DepositsAssetsNonThirdPartiesCurrent" xlink:label="bidu_DepositsAssetsNonThirdPartiesCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_DepositsAssetsNonThirdPartiesCurrent" xlink:to="bidu_DepositsAssetsNonThirdPartiesCurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_DepositsAssetsNonThirdPartiesCurrent_lbl" xml:lang="en-US">Deposits Assets Non Third Parties Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_DepositsAssetsNonThirdPartiesCurrent_lbl" xml:lang="en-US">Deposits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_DepositsAssetsNonThirdPartiesCurrent_lbl" xml:lang="en-US">Carrying value of amounts transferred to suppliers (including service providers, etc) that are expected to be returned or applied towards payment within one year or during the operating cycle, if shorter.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_DepreciationOfFixedAssetsExcludingLongTermComputerParts" xlink:label="bidu_DepreciationOfFixedAssetsExcludingLongTermComputerParts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_DepreciationOfFixedAssetsExcludingLongTermComputerParts" xlink:to="bidu_DepreciationOfFixedAssetsExcludingLongTermComputerParts_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_DepreciationOfFixedAssetsExcludingLongTermComputerParts_lbl" xml:lang="en-US">Depreciation Of Fixed Assets Excluding Long Term Computer Parts</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_DepreciationOfFixedAssetsExcludingLongTermComputerParts_lbl" xml:lang="en-US">Depreciation expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_DepreciationOfFixedAssetsExcludingLongTermComputerParts_lbl" xml:lang="en-US">The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Excludes depreciation of long-term computer parts.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_PreferredStockMember" xlink:label="us-gaap_PreferredStockMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockMember" xlink:to="us-gaap_PreferredStockMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockMember_lbl" xml:lang="en-US">Preferred Shares [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xlink:label="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xlink:to="lab_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xml:lang="en-US">Stock Issued During Period, Shares, Conversion of Convertible Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities" xml:lang="en-US">Transfer of Class B ordinary shares to Class A Ordinary shares</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ValuationAllowancesAndReservesBalance" xlink:label="us-gaap_ValuationAllowancesAndReservesBalance" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAllowancesAndReservesBalance" xlink:to="us-gaap_ValuationAllowancesAndReservesBalance_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ValuationAllowancesAndReservesBalance_lbl" xml:lang="en-US">Valuation Allowances And Reserves Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ValuationAllowancesAndReservesBalance_lbl" xml:lang="en-US">Balance at the end of the year</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ValuationAllowancesAndReservesBalance_lbl" xml:lang="en-US">Balance at the beginning of the year</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense" xlink:label="us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense" xlink:to="us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense_lbl" xml:lang="en-US">Amounts charged to (credited against) costs and expenses</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ValuationAllowancesAndReservesChargedToCostAndExpense_lbl" xml:lang="en-US">Valuation Allowances And Reserves Charged To Cost And Expense</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ValuationAllowancesAndReservesDeductions" xlink:label="us-gaap_ValuationAllowancesAndReservesDeductions" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAllowancesAndReservesDeductions" xlink:to="us-gaap_ValuationAllowancesAndReservesDeductions_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ValuationAllowancesAndReservesDeductions_lbl" xml:lang="en-US">Valuation Allowances And Reserves Deductions</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negatedTotal" xlink:label="us-gaap_ValuationAllowancesAndReservesDeductions_lbl" xml:lang="en-US">Write-offs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ValuationAllowancesAndReservesDeductions_lbl" xml:lang="en-US">Write-offs</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FixedIncomeSecuritiesMember" xlink:label="us-gaap_FixedIncomeSecuritiesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FixedIncomeSecuritiesMember" xlink:to="lab_FixedIncomeSecuritiesMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FixedIncomeSecuritiesMember" xml:lang="en-US">Fixed Income Securities [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FixedIncomeSecuritiesMember" xml:lang="en-US">Fixed-rate Investments [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AccruedLiabilitiesCurrent" xlink:label="us-gaap_AccruedLiabilitiesCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesCurrent" xlink:to="lab_AccruedLiabilitiesCurrent" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AccruedLiabilitiesCurrent" xml:lang="en-US">Accrued Liabilities, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_AccruedLiabilitiesCurrent" xml:lang="en-US">Accrued Liabilities, Current, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_AccruedLiabilitiesCurrent" xml:lang="en-US">Accrued operating expenses</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_TrafficAcquisitionCosts" xlink:label="bidu_TrafficAcquisitionCosts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_TrafficAcquisitionCosts" xlink:to="bidu_TrafficAcquisitionCosts_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_TrafficAcquisitionCosts_lbl" xml:lang="en-US">Traffic acquisition costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_TrafficAcquisitionCosts_lbl" xml:lang="en-US">Carrying value as of the balance sheet date of obligations payable to the entity's union members for acquisition of traffic. The entity's union is the program through which the entity expands distribution of its customers sponsored links or advertisements by leveraging traffic of  the entity's union members internet properties or distributing the entitys customers paid links through union members properties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_TrafficAcquisitionCosts_lbl" xml:lang="en-US">Traffic acquisition costs</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_BandwidthCosts" xlink:label="bidu_BandwidthCosts" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_BandwidthCosts" xlink:to="bidu_BandwidthCosts_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_BandwidthCosts_lbl" xml:lang="en-US">Bandwidth Costs</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_BandwidthCosts_lbl" xml:lang="en-US">Carrying value as of the balance sheet date of obligations incurred and payable to telecommunication operators for their telecommunication services and for hosting our servers at their Internet data centers. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_BandwidthCosts_lbl" xml:lang="en-US">Bandwidth Costs</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_DeferredTaxAssetsFixedAssetsDepreciation" xlink:label="bidu_DeferredTaxAssetsFixedAssetsDepreciation" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_DeferredTaxAssetsFixedAssetsDepreciation" xlink:to="bidu_DeferredTaxAssetsFixedAssetsDepreciation_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_DeferredTaxAssetsFixedAssetsDepreciation_lbl" xml:lang="en-US">Deferred Tax Assets Fixed Assets Depreciation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_DeferredTaxAssetsFixedAssetsDepreciation_lbl" xml:lang="en-US">Fixed assets depreciation</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_DeferredTaxAssetsFixedAssetsDepreciation_lbl" xml:lang="en-US">The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of fixed assets, which can only be deducted for tax purposes when permitted under enacted tax laws ( before the valuation allowance, if any, to reduce such sum amount to net realizable value).</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_IncomeTaxReconciliationForeignIncomeTaxRateDifferentialAnother" xlink:label="bidu_IncomeTaxReconciliationForeignIncomeTaxRateDifferentialAnother" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_IncomeTaxReconciliationForeignIncomeTaxRateDifferentialAnother" xlink:to="bidu_IncomeTaxReconciliationForeignIncomeTaxRateDifferentialAnother_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IncomeTaxReconciliationForeignIncomeTaxRateDifferentialAnother_lbl" xml:lang="en-US">Income Tax Reconciliation Foreign Income Tax Rate Differential Another</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_IncomeTaxReconciliationForeignIncomeTaxRateDifferentialAnother_lbl" xml:lang="en-US">Effect of differing tax rates in different jurisdictions</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_IncomeTaxReconciliationForeignIncomeTaxRateDifferentialAnother_lbl" xml:lang="en-US">The portion of the difference, between total income tax expense (benefit) as reported in the Income Statement for the period and the expected income tax expense (benefit) computed by applying the unified statutory income tax rates to pretax income from continuing operations, that is attributable to total foreign income tax expense (benefit). The foreign income tax expense (benefit) difference represents the income tax expense (benefit) at applicable domestic statutory income tax rates applied to foreign earnings (loss) for the period versus the foreign income tax expense (benefit) calculated by applying the appropriate foreign tax rates.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_Supplies" xlink:label="us-gaap_Supplies" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Supplies" xlink:to="lab_Supplies" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_Supplies" xml:lang="en-US">Supplies</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_Supplies" xml:lang="en-US">Advances to suppliers</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OtherPrepaidExpenseCurrent" xlink:label="us-gaap_OtherPrepaidExpenseCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherPrepaidExpenseCurrent" xlink:to="lab_OtherPrepaidExpenseCurrent" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OtherPrepaidExpenseCurrent" xml:lang="en-US">Other Prepaid Expense, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_OtherPrepaidExpenseCurrent" xml:lang="en-US">Prepaid expenses</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_InterestReceivableCurrent" xlink:label="us-gaap_InterestReceivableCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestReceivableCurrent" xlink:to="lab_InterestReceivableCurrent" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_InterestReceivableCurrent" xml:lang="en-US">Interest Receivable, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_InterestReceivableCurrent" xml:lang="en-US">Interest receivable</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xlink:label="us-gaap_FiniteLivedIntangibleAssetsWeightedAverageUsefulLife" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xlink:to="lab_FiniteLivedIntangibleAssetsWeightedAverageUsefulLife" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xml:lang="en-US">Finite-Lived Intangible Assets, Weighted-Average Useful Life</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_FiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xml:lang="en-US">Finite-Lived Intangible Assets, Weighted-Average Useful Life, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FiniteLivedIntangibleAssetsWeightedAverageUsefulLife" xml:lang="en-US">Finite-Lived Intangible Assets, Weighted-Average Useful Life (in years)</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SummaryOfSignificantAccountingPoliciesTextualAbstract" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesTextualAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SummaryOfSignificantAccountingPoliciesTextualAbstract" xlink:to="bidu_SummaryOfSignificantAccountingPoliciesTextualAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesTextualAbstract_lbl" xml:lang="en-US">Summary Of Significant Accounting Policies Textual Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesTextualAbstract_lbl" xml:lang="en-US">Summary of Significant Accounting Policies (Textuals) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SummaryOfSignificantAccountingPoliciesTextualAbstract_lbl" xml:lang="en-US">Summary Of Significant Accounting Policies.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:label="us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:to="lab_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract" xml:lang="en-US">Components of Income Tax Expense (Benefit), Continuing Operations [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract" xml:lang="en-US">Components of income tax</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EmployeeShareOptionAwardsOutstandingTextBlock" xlink:label="bidu_EmployeeShareOptionAwardsOutstandingTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EmployeeShareOptionAwardsOutstandingTextBlock" xlink:to="bidu_EmployeeShareOptionAwardsOutstandingTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EmployeeShareOptionAwardsOutstandingTextBlock_lbl" xml:lang="en-US">Employee Share Option Awards Outstanding Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_EmployeeShareOptionAwardsOutstandingTextBlock_lbl" xml:lang="en-US">Share option activity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EmployeeShareOptionAwardsOutstandingTextBlock_lbl" xml:lang="en-US">Schedule of the entity's employee share option activity and ending balance of employee share option awards.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EmployeeRestrictedShareAwardsNonvestedTextBlock" xlink:label="bidu_EmployeeRestrictedShareAwardsNonvestedTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EmployeeRestrictedShareAwardsNonvestedTextBlock" xlink:to="bidu_EmployeeRestrictedShareAwardsNonvestedTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EmployeeRestrictedShareAwardsNonvestedTextBlock_lbl" xml:lang="en-US">Employee Restricted Share Awards Nonvested Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_EmployeeRestrictedShareAwardsNonvestedTextBlock_lbl" xml:lang="en-US">Restricted shares activity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EmployeeRestrictedShareAwardsNonvestedTextBlock_lbl" xml:lang="en-US">Schedule of the entity's employee restricted shares activity and ending balance of employee restricted share awards.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsTextBlock" xlink:label="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsTextBlock" xlink:to="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsTextBlock_lbl" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsTextBlock_lbl" xml:lang="en-US">Assumptions used to estimate the fair values of the share options granted in the periods</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsTextBlock_lbl" xml:lang="en-US">Disclosure of assumptions used to estimate the fair values of the share options on the date of grant using the Black-Scholes Method valuation model.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:label="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:to="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_lbl" xml:lang="en-US">Schedule Of Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock_lbl" xml:lang="en-US">Total share-based compensation cost recognized</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount" xlink:to="us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_lbl" xml:lang="en-US">Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount_lbl" xml:lang="en-US">Share-based compensation cost capitalized as part of internally used software in fixed assets</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xml:lang="en-US">Reserved ordinary shares for issuance under share-based awards plan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_lbl" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost_lbl" xml:lang="en-US">Incremental compensation cost resulting from the cancellation and replacement</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost_lbl" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost_lbl" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost_lbl" xml:lang="en-US">Total share based compensation cost recognized</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">The weighted-average grant-date fair value of options granted during respective years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_lbl" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_PercentageOfShareBasedAwardsGrantedGenerallyVestAfterFirstYearOfService" xlink:label="bidu_PercentageOfShareBasedAwardsGrantedGenerallyVestAfterFirstYearOfService" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_PercentageOfShareBasedAwardsGrantedGenerallyVestAfterFirstYearOfService" xlink:to="bidu_PercentageOfShareBasedAwardsGrantedGenerallyVestAfterFirstYearOfService_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_PercentageOfShareBasedAwardsGrantedGenerallyVestAfterFirstYearOfService_lbl" xml:lang="en-US">Percentage of share-based awards granted generally vest after the first year of service</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_PercentageOfShareBasedAwardsGrantedGenerallyVestAfterFirstYearOfService_lbl" xml:lang="en-US">Percentage of share-based awards granted generally vest after the first year of service.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_PercentageOfShareBasedAwardsGrantedGenerallyVestAfterFirstYearOfService_lbl" xml:lang="en-US">Percentage of share-based awards granted generally vest after the first year of service</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_MinimumPercentageOfVotingPowerOfEntitysShareCapital" xlink:label="bidu_MinimumPercentageOfVotingPowerOfEntitysShareCapital" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_MinimumPercentageOfVotingPowerOfEntitysShareCapital" xlink:to="bidu_MinimumPercentageOfVotingPowerOfEntitysShareCapital_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_MinimumPercentageOfVotingPowerOfEntitysShareCapital_lbl" xml:lang="en-US">Minimum percentage of voting power of the entity's share capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_MinimumPercentageOfVotingPowerOfEntitysShareCapital_lbl" xml:lang="en-US">Minimum percentage of voting power of the entity's share capital an employee is expteced to hold at the time of an ISO grant to him to have him subjected to special contractual term and exercise price of that grant.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_MinimumPercentageOfVotingPowerOfEntitysShareCapital_lbl" xml:lang="en-US">Minimum percentage of voting power of the entity's share capital</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_PercentageOfFairMarketValueOfEntitysOrdinarySharesOnDateOfIsoGrant" xlink:label="bidu_PercentageOfFairMarketValueOfEntitysOrdinarySharesOnDateOfIsoGrant" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_PercentageOfFairMarketValueOfEntitysOrdinarySharesOnDateOfIsoGrant" xlink:to="bidu_PercentageOfFairMarketValueOfEntitysOrdinarySharesOnDateOfIsoGrant_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_PercentageOfFairMarketValueOfEntitysOrdinarySharesOnDateOfIsoGrant_lbl" xml:lang="en-US">Percentage Of Fair Market Value Of Entitys Ordinary Shares On Date Of Iso Grant</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_PercentageOfFairMarketValueOfEntitysOrdinarySharesOnDateOfIsoGrant_lbl" xml:lang="en-US">Percentage of the fair market value of the entity's ordinary shares on the date of the ISO grant</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_PercentageOfFairMarketValueOfEntitysOrdinarySharesOnDateOfIsoGrant_lbl" xml:lang="en-US">Percentage of the fair market value of the entity's ordinary shares on the date of the ISO grant, which the exercise price of an ISO grant cannot be less than.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ShareOptionActivityAbstract" xlink:label="bidu_ShareOptionActivityAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ShareOptionActivityAbstract" xlink:to="bidu_ShareOptionActivityAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ShareOptionActivityAbstract_lbl" xml:lang="en-US">Share Option Activity Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ShareOptionActivityAbstract_lbl" xml:lang="en-US">Share option activity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ShareOptionActivityAbstract_lbl" xml:lang="en-US">Share option activity.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_TotalShareBasedCompensationCostRecognizedAbstract" xlink:label="bidu_TotalShareBasedCompensationCostRecognizedAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_TotalShareBasedCompensationCostRecognizedAbstract" xlink:to="bidu_TotalShareBasedCompensationCostRecognizedAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_TotalShareBasedCompensationCostRecognizedAbstract_lbl" xml:lang="en-US">Total Share Based Compensation Cost Recognized Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_TotalShareBasedCompensationCostRecognizedAbstract_lbl" xml:lang="en-US">Total share-based compensation cost recognized</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_TotalShareBasedCompensationCostRecognizedAbstract_lbl" xml:lang="en-US">Total share based compensation cost recognized.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ShareBasedCompensationExpenseChargedToCostOfRevenue" xlink:label="bidu_ShareBasedCompensationExpenseChargedToCostOfRevenue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ShareBasedCompensationExpenseChargedToCostOfRevenue" xlink:to="bidu_ShareBasedCompensationExpenseChargedToCostOfRevenue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ShareBasedCompensationExpenseChargedToCostOfRevenue_lbl" xml:lang="en-US">Share Based Compensation Expense Charged To Cost Of Revenue</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ShareBasedCompensationExpenseChargedToCostOfRevenue_lbl" xml:lang="en-US">Cost of revenues</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ShareBasedCompensationExpenseChargedToCostOfRevenue_lbl" xml:lang="en-US">Represents the expense recognized during the period arising from share-based compensation arrangements with employees, directors and certain consultants qualifying for treatment as employees charged to cost of revenue.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ShareBasedCompensationExpenseChargedToSellingGeneralAndAdministrativeExpense" xlink:label="bidu_ShareBasedCompensationExpenseChargedToSellingGeneralAndAdministrativeExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ShareBasedCompensationExpenseChargedToSellingGeneralAndAdministrativeExpense" xlink:to="bidu_ShareBasedCompensationExpenseChargedToSellingGeneralAndAdministrativeExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ShareBasedCompensationExpenseChargedToSellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Share Based Compensation Expense Charged To Selling General And Administrative Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ShareBasedCompensationExpenseChargedToSellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Selling, general and administrative</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ShareBasedCompensationExpenseChargedToSellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Represents the expense recognized during the period arising from share-based compensation arrangements with employees, directors and certain consultants qualifying for treatment as employees charged to selling general and administrative expense.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ShareBasedCompensationExpenseChargedToResearchAndDevelopmentExpense" xlink:label="bidu_ShareBasedCompensationExpenseChargedToResearchAndDevelopmentExpense" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ShareBasedCompensationExpenseChargedToResearchAndDevelopmentExpense" xlink:to="bidu_ShareBasedCompensationExpenseChargedToResearchAndDevelopmentExpense_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ShareBasedCompensationExpenseChargedToResearchAndDevelopmentExpense_lbl" xml:lang="en-US">Share Based Compensation Expense Charged To Research And Development Expense</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ShareBasedCompensationExpenseChargedToResearchAndDevelopmentExpense_lbl" xml:lang="en-US">Research and development</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ShareBasedCompensationExpenseChargedToResearchAndDevelopmentExpense_lbl" xml:lang="en-US">Represents the expense recognized during the period arising from share-based compensation arrangements with employees, directors and certain consultants qualifying for treatment as employees charged to research and development expense.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_BankTimeDepositsMember" xlink:label="us-gaap_BankTimeDepositsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_BankTimeDepositsMember" xlink:to="lab_BankTimeDepositsMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_BankTimeDepositsMember" xml:lang="en-US">Bank Time Deposits [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_BankTimeDepositsMember" xml:lang="en-US">Time Deposits [Member]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ExceptIsoFor10PercentVotingPowerEmployeesPlan2008Member" xlink:label="bidu_ExceptIsoFor10PercentVotingPowerEmployeesPlan2008Member" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ExceptIsoFor10PercentVotingPowerEmployeesPlan2008Member" xlink:to="bidu_ExceptIsoFor10PercentVotingPowerEmployeesPlan2008Member_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ExceptIsoFor10PercentVotingPowerEmployeesPlan2008Member_lbl" xml:lang="en-US">Except Iso For 10 Percent Voting Power Employees Plan 2008 Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ExceptIsoFor10PercentVotingPowerEmployeesPlan2008Member_lbl" xml:lang="en-US">Share Option Except ISO to More Than 10% Voting Power Employee Under 2008 Plan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ExceptIsoFor10PercentVotingPowerEmployeesPlan2008Member_lbl" xml:lang="en-US">Except Iso for 10 Percent Voting Power Employees Plan 2008.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_IsoFor10PercentVotingPowerEmployeesPlan2008Member" xlink:label="bidu_IsoFor10PercentVotingPowerEmployeesPlan2008Member" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_IsoFor10PercentVotingPowerEmployeesPlan2008Member" xlink:to="bidu_IsoFor10PercentVotingPowerEmployeesPlan2008Member_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IsoFor10PercentVotingPowerEmployeesPlan2008Member_lbl" xml:lang="en-US">Iso For 10 Percent Voting Power Employees Plan 2008 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_IsoFor10PercentVotingPowerEmployeesPlan2008Member_lbl" xml:lang="en-US">ISO to More Than 10% Voting Power Employee Under 2008 Plan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_IsoFor10PercentVotingPowerEmployeesPlan2008Member_lbl" xml:lang="en-US">Iso for 10 Percent Voting Power Employees Plan 2008.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother" xlink:label="bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother" xlink:to="bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother_lbl" xml:lang="en-US">Finite Lived Intangible Assets Weighted Average Useful Life Another</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother_lbl" xml:lang="en-US">Finite Lived Intangible Asset Weighted Average Useful Life (in years)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother_lbl" xml:lang="en-US">The calculated weighted-average useful life of all finite-lived intangible assets.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncomeTaxExaminationYearSUnderExamination" xlink:label="us-gaap_IncomeTaxExaminationYearSUnderExamination" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExaminationYearSUnderExamination" xlink:to="us-gaap_IncomeTaxExaminationYearSUnderExamination_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxExaminationYearSUnderExamination_lbl" xml:lang="en-US">Income Tax Examination, Year(s) under Examination</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncomeTaxExaminationYearSUnderExamination_lbl" xml:lang="en-US">Tax years remain open to examination by respective taxing jurisdictions</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_DeferredIncomeTaxExpenseBenefitBeforeValuationAllowance" xlink:label="bidu_DeferredIncomeTaxExpenseBenefitBeforeValuationAllowance" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_DeferredIncomeTaxExpenseBenefitBeforeValuationAllowance" xlink:to="bidu_DeferredIncomeTaxExpenseBenefitBeforeValuationAllowance_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_DeferredIncomeTaxExpenseBenefitBeforeValuationAllowance_lbl" xml:lang="en-US">Deferred Income Tax Expense Benefit Before Valuation Allowance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_DeferredIncomeTaxExpenseBenefitBeforeValuationAllowance_lbl" xml:lang="en-US">Deferred income tax benefit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_DeferredIncomeTaxExpenseBenefitBeforeValuationAllowance_lbl" xml:lang="en-US">The component of income tax expense for the period representing the change in the entity's deferred tax assets and liabilities before valuation allowance pertaining to continuing operations.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_RemainingVestingPeriod" xlink:label="bidu_RemainingVestingPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_RemainingVestingPeriod" xlink:to="bidu_RemainingVestingPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_RemainingVestingPeriod_lbl" xml:lang="en-US">Remaining vesting period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_RemainingVestingPeriod_lbl" xml:lang="en-US">Remaining vesting period after the first year of service expected to be rendered in order to acquire relevant share based awards.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_RemainingVestingPeriod_lbl" xml:lang="en-US">Remaining vesting period</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_BaiduJapanMember" xlink:label="bidu_BaiduJapanMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_BaiduJapanMember" xlink:to="bidu_BaiduJapanMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_BaiduJapanMember_lbl" xml:lang="en-US">Baidu Japan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_BaiduJapanMember_lbl" xml:lang="en-US">Baidu Japan Member.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm" xml:lang="en-US">Weighted-Average Remaining Contractual Life (In Years), Outstanding, December 31, 2010</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm" xml:lang="en-US">Weighted-Average Remaining Contractual Life (In Years), Outstanding, December 31, 2009</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Weighted-Average Exercise Price of Shares Granted</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Weighted-Average Exercise Price of Shares Exercised</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Weighted-Average Exercise Price of Shares Forfeited/Cancelled</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice" xml:lang="en-US">Weighted-Average Exercise Price of Shares Expired</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm" xml:lang="en-US">Weighted-Average Remaining Contractual Life (In Years) of Shares Vested and expected to vest</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm" xml:lang="en-US">Weighted- Average Remaining Contractual Life (In Years) of Shares Exercisable</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableIntrinsicValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableIntrinsicValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableIntrinsicValue" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableIntrinsicValue" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableIntrinsicValue" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableIntrinsicValue" xml:lang="en-US">Aggregate Intrinsic Value (US$) (In Thousands),Exercisable, December 31, 2010</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period Weighted Average Grant Date Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodWeightedAverageGrantDateFairValue" xml:lang="en-US">Weighted Average Grant Date Fair Value, Forfeited</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DueToRelatedPartiesCurrent" xlink:label="us-gaap_DueToRelatedPartiesCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DueToRelatedPartiesCurrent" xlink:to="lab_DueToRelatedPartiesCurrent" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DueToRelatedPartiesCurrent" xml:lang="en-US">Due to Related Parties, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_DueToRelatedPartiesCurrent" xml:lang="en-US">Due to related parties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_DueToRelatedPartiesCurrent" xml:lang="en-US">Due to related parties</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_DeferredIncomeNoncurrent" xlink:label="bidu_DeferredIncomeNoncurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_DeferredIncomeNoncurrent" xlink:to="bidu_DeferredIncomeNoncurrent_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_DeferredIncomeNoncurrent_lbl" xml:lang="en-US">Deferred Income Noncurrent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_DeferredIncomeNoncurrent_lbl" xml:lang="en-US">Deferred income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_DeferredIncomeNoncurrent_lbl" xml:lang="en-US">The noncurrent portion of deferred income amount as of balance sheet date. Deferred income noncurrent is a liability related to an activity incurring nonoperating income for which nonoperating income has not yet been recognized, and is not expected to be recognized in the next twelve months. Deferred income noncurrent, in this case, represents government subsidies relating to a research and development program of the entity.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_LongTermLoansPayable" xlink:label="us-gaap_LongTermLoansPayable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermLoansPayable" xlink:to="lab_LongTermLoansPayable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_LongTermLoansPayable" xml:lang="en-US">Loans Payable, Noncurrent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_LongTermLoansPayable" xml:lang="en-US">The amount Baidu Netcom borrowed under the commitment of an unsecured bank loan</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_LongTermLoansPayable" xml:lang="en-US">Loans payable, noncurrent</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_LongTermLoansPayable" xml:lang="en-US">Loans payable, noncurrent</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent" xlink:label="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent" xlink:to="lab_IncreaseDecreaseInDueToRelatedPartiesCurrent" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncreaseDecreaseInDueToRelatedPartiesCurrent" xml:lang="en-US">Increase (Decrease) in Due to Related Parties, Current</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_IncreaseDecreaseInDueToRelatedPartiesCurrent" xml:lang="en-US">Increase (Decrease) in Due to Related Parties, Current, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IncreaseDecreaseInDueToRelatedPartiesCurrent" xml:lang="en-US">Due to related parties</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ProceedsFromLongTermLinesOfCredit" xlink:label="us-gaap_ProceedsFromLongTermLinesOfCredit" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromLongTermLinesOfCredit" xlink:to="lab_ProceedsFromLongTermLinesOfCredit" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ProceedsFromLongTermLinesOfCredit" xml:lang="en-US">Proceeds from Long-term Lines of Credit</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ProceedsFromLongTermLinesOfCredit" xml:lang="en-US">Proceeds from loans payable</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities" xlink:label="us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities" xlink:to="lab_IncreaseDecreaseInRestrictedCashForOperatingActivities" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IncreaseDecreaseInRestrictedCashForOperatingActivities" xml:lang="en-US">Increase (Decrease) in Restricted Cash for Operating Activities</label>
    <label xlink:type="resource" xlink:role="http://xbrl.us/us-gaap/role/label/negated" xlink:label="lab_IncreaseDecreaseInRestrictedCashForOperatingActivities" xml:lang="en-US">Restricted cash</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EarningPerShareAxis" xlink:label="bidu_EarningPerShareAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EarningPerShareAxis" xlink:to="bidu_EarningPerShareAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EarningPerShareAxis_lbl" xml:lang="en-US">Earning Per Share [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EarningPerShareAxis_lbl" xml:lang="en-US">Earning Per Share Axis.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EarningPerShareDomain" xlink:label="bidu_EarningPerShareDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EarningPerShareDomain" xlink:to="bidu_EarningPerShareDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EarningPerShareDomain_lbl" xml:lang="en-US">Earning Per Share [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EarningPerShareDomain_lbl" xml:lang="en-US">Earning Per Share Domain.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_AmericanDepositorySharesMember" xlink:label="bidu_AmericanDepositorySharesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_AmericanDepositorySharesMember" xlink:to="bidu_AmericanDepositorySharesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_AmericanDepositorySharesMember_lbl" xml:lang="en-US">American Depository Shares [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_AmericanDepositorySharesMember_lbl" xml:lang="en-US">American Depository Shares</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_AmericanDepositorySharesMember_lbl" xml:lang="en-US">American Depository Shares Member.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xml:lang="en-US">Cash And Cash Equivalents Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl" xml:lang="en-US">Cash and Cash Equivalents</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_InvestmentPolicyTextBlock" xlink:label="us-gaap_InvestmentPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentPolicyTextBlock" xlink:to="us-gaap_InvestmentPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentPolicyTextBlock_lbl" xml:lang="en-US">Investment Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_InvestmentPolicyTextBlock_lbl" xml:lang="en-US">Investments</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xlink:label="us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock" xlink:to="us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock_lbl" xml:lang="en-US">Goodwill And Intangible Assets Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock_lbl" xml:lang="en-US">Goodwill and Intangible Assets</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ResearchDevelopmentAndComputerSoftwarePolicyTextBlock" xlink:label="us-gaap_ResearchDevelopmentAndComputerSoftwarePolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ResearchDevelopmentAndComputerSoftwarePolicyTextBlock" xlink:to="us-gaap_ResearchDevelopmentAndComputerSoftwarePolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ResearchDevelopmentAndComputerSoftwarePolicyTextBlock_lbl" xml:lang="en-US">Research Development And Computer Software Policy [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_ResearchDevelopmentAndComputerSoftwarePolicyTextBlock_lbl" xml:lang="en-US">Research, Development, and Computer Software</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_LongTermLoansPayableAbstract" xlink:label="us-gaap_LongTermLoansPayableAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermLoansPayableAbstract" xlink:to="us-gaap_LongTermLoansPayableAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LongTermLoansPayableAbstract_lbl" xml:lang="en-US">Loans Payable Noncurrent [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_StockholdersEquityNoteAbstract" xlink:label="us-gaap_StockholdersEquityNoteAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteAbstract" xlink:to="us-gaap_StockholdersEquityNoteAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteAbstract_lbl" xml:lang="en-US">Stockholders' Equity [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xml:lang="en-US">STOCKHOLDERS' EQUITY</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xml:lang="en-US">Stockholders Equity Note Disclosure [Text Block]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_InvestmentsAbstract" xlink:label="us-gaap_InvestmentsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentsAbstract" xlink:to="lab_InvestmentsAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_InvestmentsAbstract" xml:lang="en-US">Investments [Abstract]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EarningsPerShareDetailsAbstract" xlink:label="bidu_EarningsPerShareDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EarningsPerShareDetailsAbstract" xlink:to="bidu_EarningsPerShareDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EarningsPerShareDetailsAbstract_lbl" xml:lang="en-US">Earnings Per Share (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EarningsPerShareDetailsAbstract_lbl" xml:lang="en-US">Earnings Per Share Details Abstract.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EarningsPerAdsAbstract" xlink:label="bidu_EarningsPerAdsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EarningsPerAdsAbstract" xlink:to="bidu_EarningsPerAdsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EarningsPerAdsAbstract_lbl" xml:lang="en-US">Earnings Per Ads Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bidu_EarningsPerAdsAbstract_lbl" xml:lang="en-US">Earnings per ADS:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_EarningsPerAdsAbstract_lbl" xml:lang="en-US">Earnings per ADS:</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EarningsPerAdsAbstract_lbl" xml:lang="en-US">Earnings per ADS.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EarningsPerShareTablesAbstract" xlink:label="bidu_EarningsPerShareTablesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EarningsPerShareTablesAbstract" xlink:to="bidu_EarningsPerShareTablesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EarningsPerShareTablesAbstract_lbl" xml:lang="en-US">Earnings Per Share (Tables) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EarningsPerShareTablesAbstract_lbl" xml:lang="en-US">Earnings Per Share Tables Abstract.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_InvestmentsTablesAbstract" xlink:label="bidu_InvestmentsTablesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_InvestmentsTablesAbstract" xlink:to="bidu_InvestmentsTablesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_InvestmentsTablesAbstract_lbl" xml:lang="en-US">Investments (Tables) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_InvestmentsTablesAbstract_lbl" xml:lang="en-US">Investments Tables.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_InvestmentsDetailsAbstract" xlink:label="bidu_InvestmentsDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_InvestmentsDetailsAbstract" xlink:to="bidu_InvestmentsDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_InvestmentsDetailsAbstract_lbl" xml:lang="en-US">Investments (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_InvestmentsDetailsAbstract_lbl" xml:lang="en-US">Investments Details Abstract.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_InvestmentsDetailsAbstract_lbl" xml:lang="en-US">Investments (Details) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_InvestmentsTextualsAbstract" xlink:label="bidu_InvestmentsTextualsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_InvestmentsTextualsAbstract" xlink:to="bidu_InvestmentsTextualsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_InvestmentsTextualsAbstract_lbl" xml:lang="en-US">Investments Textuals Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_InvestmentsTextualsAbstract_lbl" xml:lang="en-US">Investments Textuals Abstract.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_InvestmentsTextualsAbstract_lbl" xml:lang="en-US">Investments (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_LessThanOneYearTimeDepositMember" xlink:label="bidu_LessThanOneYearTimeDepositMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_LessThanOneYearTimeDepositMember" xlink:to="bidu_LessThanOneYearTimeDepositMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_LessThanOneYearTimeDepositMember_lbl" xml:lang="en-US">Less than one year time deposit [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_LessThanOneYearTimeDepositMember_lbl" xml:lang="en-US">Less than one year time deposit Member.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_LessThanOneYearTimeDepositMember_lbl" xml:lang="en-US">Less than one year time deposit Member</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SixDxchangeMember" xlink:label="bidu_SixDxchangeMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SixDxchangeMember" xlink:to="bidu_SixDxchangeMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SixDxchangeMember_lbl" xml:lang="en-US">Six Dxchange [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_SixDxchangeMember_lbl" xml:lang="en-US">6DXchange [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SixDxchangeMember_lbl" xml:lang="en-US">Six Dxchange Member.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_CostMethodInvestmentsAggregateCarryingAmount" xlink:label="us-gaap_CostMethodInvestmentsAggregateCarryingAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostMethodInvestmentsAggregateCarryingAmount" xlink:to="lab_CostMethodInvestmentsAggregateCarryingAmount" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_CostMethodInvestmentsAggregateCarryingAmount" xml:lang="en-US">Cost-method Investments, Aggregate Carrying Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_CostMethodInvestmentsAggregateCarryingAmount" xml:lang="en-US">Carrying amount of cost method investments</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:label="us-gaap_EquityMethodInvestmentOwnershipPercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:to="lab_EquityMethodInvestmentOwnershipPercentage" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EquityMethodInvestmentOwnershipPercentage" xml:lang="en-US">Equity Method Investment, Ownership Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="lab_EquityMethodInvestmentOwnershipPercentage" xml:lang="en-US">Equity interests in joint venture after completion of subscription</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_EquityMethodInvestmentOwnershipPercentage" xml:lang="en-US">Percentage of equity interest in equity method investee held by the entity</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_AdditionalInvestmentsTextualsAbstract" xlink:label="bidu_AdditionalInvestmentsTextualsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_AdditionalInvestmentsTextualsAbstract" xlink:to="bidu_AdditionalInvestmentsTextualsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_AdditionalInvestmentsTextualsAbstract_lbl" xml:lang="en-US">Additional Investments Textuals Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_AdditionalInvestmentsTextualsAbstract_lbl" xml:lang="en-US">Additional Investments Textuals Abstract.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_AdditionalInvestmentsTextualsAbstract_lbl" xml:lang="en-US">Additional Investments (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_BaiduNetcomMember" xlink:label="bidu_BaiduNetcomMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_BaiduNetcomMember" xlink:to="bidu_BaiduNetcomMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_BaiduNetcomMember_lbl" xml:lang="en-US">Baidu Netcom [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_BaiduNetcomMember_lbl" xml:lang="en-US">Going Forward Baidu [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_BaiduNetcomMember_lbl" xml:lang="en-US">Baidu Netcom Member.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:label="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter" xlink:to="lab_OperatingLeasesFutureMinimumPaymentsDueThereafter" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueThereafter" xml:lang="en-US">Operating Leases, Future Minimum Payments, Due Thereafter</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_OperatingLeasesFutureMinimumPaymentsDueThereafter" xml:lang="en-US">Thereafter</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_GuaranteeObligationsMaximumExposure" xlink:label="us-gaap_GuaranteeObligationsMaximumExposure" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GuaranteeObligationsMaximumExposure" xlink:to="lab_GuaranteeObligationsMaximumExposure" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_GuaranteeObligationsMaximumExposure" xml:lang="en-US">Guarantor Obligations, Maximum Exposure, Undiscounted</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_GuaranteeObligationsMaximumExposure" xml:lang="en-US">Maximum exposure to the company under unconditionally guaranteed bank loans for a related party</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_BaiduChinaMember" xlink:label="bidu_BaiduChinaMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_BaiduChinaMember" xlink:to="bidu_BaiduChinaMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_BaiduChinaMember_lbl" xml:lang="en-US">Baidu China [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_BaiduChinaMember_lbl" xml:lang="en-US">Baidu China Member.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_LoansPayableNoncurrentDetailsAbstract" xlink:label="bidu_LoansPayableNoncurrentDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_LoansPayableNoncurrentDetailsAbstract" xlink:to="bidu_LoansPayableNoncurrentDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_LoansPayableNoncurrentDetailsAbstract_lbl" xml:lang="en-US">Loans Payable, Noncurrent (Details) (Abstract)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_LoansPayableNoncurrentDetailsAbstract_lbl" xml:lang="en-US">Loans Payable, Noncurrent.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_LoansPayableNoncurrentTablesAbstract" xlink:label="bidu_LoansPayableNoncurrentTablesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_LoansPayableNoncurrentTablesAbstract" xlink:to="bidu_LoansPayableNoncurrentTablesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_LoansPayableNoncurrentTablesAbstract_lbl" xml:lang="en-US">Loans Payable, Noncurrent (Tables) (Abstract)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_LoansPayableNoncurrentTablesAbstract_lbl" xml:lang="en-US">Loans Payable, Noncurrent.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_DueDate30July2012Member" xlink:label="bidu_DueDate30July2012Member" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_DueDate30July2012Member" xlink:to="bidu_DueDate30July2012Member_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_DueDate30July2012Member_lbl" xml:lang="en-US">Due date, 30 July 2012 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_DueDate30July2012Member_lbl" xml:lang="en-US">Due date 30 July 2012.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_DueDate30Oct2012Member" xlink:label="bidu_DueDate30Oct2012Member" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_DueDate30Oct2012Member" xlink:to="bidu_DueDate30Oct2012Member_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_DueDate30Oct2012Member_lbl" xml:lang="en-US">Due date, 30 Oct 2012 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_DueDate30Oct2012Member_lbl" xml:lang="en-US">Due date, 30 Oct 2012.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_DueDate30Jan2013Member" xlink:label="bidu_DueDate30Jan2013Member" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_DueDate30Jan2013Member" xlink:to="bidu_DueDate30Jan2013Member_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_DueDate30Jan2013Member_lbl" xml:lang="en-US">Due date, 30 Jan 2013 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_DueDate30Jan2013Member_lbl" xml:lang="en-US">Due date, 30 Jan 2013.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_DueDate30Apr2013Member" xlink:label="bidu_DueDate30Apr2013Member" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_DueDate30Apr2013Member" xlink:to="bidu_DueDate30Apr2013Member_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_DueDate30Apr2013Member_lbl" xml:lang="en-US">Due date, 30 Apr 2013 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_DueDate30Apr2013Member_lbl" xml:lang="en-US">Due date, 30 Apr 2013.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_LoansPayableNoncurrentTextualsAbstract" xlink:label="bidu_LoansPayableNoncurrentTextualsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_LoansPayableNoncurrentTextualsAbstract" xlink:to="bidu_LoansPayableNoncurrentTextualsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_LoansPayableNoncurrentTextualsAbstract_lbl" xml:lang="en-US">Loans Payable Noncurrent Textuals Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_LoansPayableNoncurrentTextualsAbstract_lbl" xml:lang="en-US">Loans Payable, Noncurrent (Textuals) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_LoansPayableNoncurrentTextualsAbstract_lbl" xml:lang="en-US">Loans payable, Noncurrent.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_StockholdersEquityDetailsAbstract" xlink:label="bidu_StockholdersEquityDetailsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_StockholdersEquityDetailsAbstract" xlink:to="bidu_StockholdersEquityDetailsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_StockholdersEquityDetailsAbstract_lbl" xml:lang="en-US">Stockholders' Equity (Details) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_StockholdersEquityDetailsAbstract_lbl" xml:lang="en-US">Stockholders' Equity.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_StockholdersEquityTablesAbstract" xlink:label="bidu_StockholdersEquityTablesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_StockholdersEquityTablesAbstract" xlink:to="bidu_StockholdersEquityTablesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_StockholdersEquityTablesAbstract_lbl" xml:lang="en-US">Stockholders' Equity (Tables) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_StockholdersEquityTablesAbstract_lbl" xml:lang="en-US">Stockholders' Equity.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_StockholdersEquityTextualsAbstract" xlink:label="bidu_StockholdersEquityTextualsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_StockholdersEquityTextualsAbstract" xlink:to="bidu_StockholdersEquityTextualsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_StockholdersEquityTextualsAbstract_lbl" xml:lang="en-US">Stockholders Equity Textuals Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_StockholdersEquityTextualsAbstract_lbl" xml:lang="en-US">Stockholders' Equity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_StockholdersEquityTextualsAbstract_lbl" xml:lang="en-US">Stockholders' Equity (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:label="us-gaap_PreferredStockSharesOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesOutstanding" xlink:to="lab_PreferredStockSharesOutstanding" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_PreferredStockSharesOutstanding" xml:lang="en-US">Preferred Stock, Shares Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_PreferredStockSharesOutstanding" xml:lang="en-US">Preferred Stock, Shares Outstanding, Ending Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_PreferredStockSharesOutstanding" xml:lang="en-US">Preferred Stock, Shares Outstanding, Beginning Balance</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_PreferredStockSharesOutstanding" xml:lang="en-US">Preferred stock, shares outstanding</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DebtInstrumentTable" xlink:label="us-gaap_DebtInstrumentTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentTable" xlink:to="lab_DebtInstrumentTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DebtInstrumentTable" xml:lang="en-US">Schedule of Long-term Debt Instruments [Table]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="us-gaap_DebtInstrumentAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentAxis" xlink:to="lab_DebtInstrumentAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DebtInstrumentAxis" xml:lang="en-US">Debt Instrument [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="us-gaap_DebtInstrumentNameDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentNameDomain" xlink:to="lab_DebtInstrumentNameDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DebtInstrumentNameDomain" xml:lang="en-US">Debt Instrument, Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="us-gaap_DebtInstrumentLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentLineItems" xlink:to="lab_DebtInstrumentLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_DebtInstrumentLineItems" xml:lang="en-US">Debt Instrument [Line Items]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SegmentReportingTablesAbstract" xlink:label="bidu_SegmentReportingTablesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SegmentReportingTablesAbstract" xlink:to="bidu_SegmentReportingTablesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SegmentReportingTablesAbstract_lbl" xml:lang="en-US">Segment Reporting (Tables) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SegmentReportingTablesAbstract_lbl" xml:lang="en-US">Segment Reporting.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_SegmentReportingEntityConsolidatedRevenueAbstract" xlink:label="us-gaap_SegmentReportingEntityConsolidatedRevenueAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingEntityConsolidatedRevenueAbstract" xlink:to="lab_SegmentReportingEntityConsolidatedRevenueAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SegmentReportingEntityConsolidatedRevenueAbstract" xml:lang="en-US">Segment Reporting, Entity Consolidated Revenue [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_SegmentReportingEntityConsolidatedRevenueAbstract" xml:lang="en-US">Revenues by geographic area</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_RevenuesByGeographicAreaTextBlock" xlink:label="bidu_RevenuesByGeographicAreaTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_RevenuesByGeographicAreaTextBlock" xlink:to="bidu_RevenuesByGeographicAreaTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_RevenuesByGeographicAreaTextBlock_lbl" xml:lang="en-US">Revenues By Geographic Area Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_RevenuesByGeographicAreaTextBlock_lbl" xml:lang="en-US">Revenues by geographic area.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_RevenuesByGeographicAreaTextBlock_lbl" xml:lang="en-US">Revenues by geographic area</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_LongLivedAssetsByGeographicAreaTextBlock" xlink:label="bidu_LongLivedAssetsByGeographicAreaTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_LongLivedAssetsByGeographicAreaTextBlock" xlink:to="bidu_LongLivedAssetsByGeographicAreaTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_LongLivedAssetsByGeographicAreaTextBlock_lbl" xml:lang="en-US">Long Lived Assets By Geographic Area Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_LongLivedAssetsByGeographicAreaTextBlock_lbl" xml:lang="en-US">Long-lived assets by geographic area</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_LongLivedAssetsByGeographicAreaTextBlock_lbl" xml:lang="en-US">Long-lived assets by geographic area.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:to="lab_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xml:lang="en-US">Reconciliation for assets measured and recorded at fair value on recurring basis, using significant unobservable inputs (Level 3)</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xlink:to="lab_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationCalculationRollForward" xml:lang="en-US">Reconciliation for assets measured and recorded at fair value on recurring basis, using significant unobservable inputs (Level 3)</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xlink:to="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xml:lang="en-US">Balance at December 31, 2010</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue" xml:lang="en-US">Balance at December 31, 2009</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements" xlink:to="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases, Sales, Issuances, Settlements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements" xml:lang="en-US">Purchases</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncome" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncome" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncome" xlink:to="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncome" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncome" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncome" xml:lang="en-US">Change in unrealized gain (loss) included in other comprehensive income</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_FairValueMeasurementTextualsAbstract" xlink:label="bidu_FairValueMeasurementTextualsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_FairValueMeasurementTextualsAbstract" xlink:to="bidu_FairValueMeasurementTextualsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_FairValueMeasurementTextualsAbstract_lbl" xml:lang="en-US">Fair Value Measurement Textuals Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_FairValueMeasurementTextualsAbstract_lbl" xml:lang="en-US">Fair Value Measurement (Textuals)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_FairValueMeasurementTextualsAbstract_lbl" xml:lang="en-US">Fair Value Measurement.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AvailableforsaleSecuritiesMember" xlink:label="us-gaap_AvailableforsaleSecuritiesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableforsaleSecuritiesMember" xlink:to="lab_AvailableforsaleSecuritiesMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AvailableforsaleSecuritiesMember" xml:lang="en-US">Available-for-sale Securities [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_HeldToMaturitySecuritiesDebtMaturitiesNetCarryingAmount" xlink:label="us-gaap_HeldToMaturitySecuritiesDebtMaturitiesNetCarryingAmount" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_HeldToMaturitySecuritiesDebtMaturitiesNetCarryingAmount" xlink:to="lab_HeldToMaturitySecuritiesDebtMaturitiesNetCarryingAmount" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_HeldToMaturitySecuritiesDebtMaturitiesNetCarryingAmount" xml:lang="en-US">Held-to-maturity Securities, Debt Maturities, Net Carrying Amount</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_HeldToMaturitySecuritiesDebtMaturitiesNetCarryingAmount" xml:lang="en-US">Held-to-maturity Securities, Debt Maturities, Net Carrying Amount, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_HeldToMaturitySecuritiesDebtMaturitiesNetCarryingAmount" xml:lang="en-US">Amortized cost</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_RedeemableConvertiblePreferredStockMember" xlink:label="us-gaap_RedeemableConvertiblePreferredStockMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RedeemableConvertiblePreferredStockMember" xlink:to="lab_RedeemableConvertiblePreferredStockMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_RedeemableConvertiblePreferredStockMember" xml:lang="en-US">Redeemable Convertible Preferred Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_RedeemableConvertiblePreferredStockMember" xml:lang="en-US">Redeemable Convertible Preferred Shares [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ConvertiblePreferredStockMember" xlink:label="us-gaap_ConvertiblePreferredStockMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConvertiblePreferredStockMember" xlink:to="lab_ConvertiblePreferredStockMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ConvertiblePreferredStockMember" xml:lang="en-US">Convertible Preferred Stock [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ConvertiblePreferredStockMember" xml:lang="en-US">Convertible Preferred Shares [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes" xlink:label="us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes" xlink:to="us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes_lbl" xml:lang="en-US">Income Tax Reconciliation Prior Year Income Taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes_lbl" xml:lang="en-US">Addition of under-provided EIT for previous years</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_GuaranteesFairValueDisclosure" xlink:label="us-gaap_GuaranteesFairValueDisclosure" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_GuaranteesFairValueDisclosure" xlink:to="lab_GuaranteesFairValueDisclosure" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_GuaranteesFairValueDisclosure" xml:lang="en-US">Guarantees, Fair Value Disclosure</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_GuaranteesFairValueDisclosure" xml:lang="en-US">Fair value of indemnification obligations related to the entity's directors and officers</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EarningPerShareAdsTable" xlink:label="bidu_EarningPerShareAdsTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EarningPerShareAdsTable" xlink:to="bidu_EarningPerShareAdsTable_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EarningPerShareAdsTable_lbl" xml:lang="en-US">Earning Per Share ADS [Table]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EarningPerShareAdsTable_lbl" xml:lang="en-US">Earning Per Share ADS.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EarningPerShareAdsAxis" xlink:label="bidu_EarningPerShareAdsAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EarningPerShareAdsAxis" xlink:to="bidu_EarningPerShareAdsAxis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EarningPerShareAdsAxis_lbl" xml:lang="en-US">Earning Per Share ADS [Axis]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EarningPerShareAdsAxis_lbl" xml:lang="en-US">Earning Per Share ADS.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EarningPerShareAdsDomain" xlink:label="bidu_EarningPerShareAdsDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EarningPerShareAdsDomain" xlink:to="bidu_EarningPerShareAdsDomain_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EarningPerShareAdsDomain_lbl" xml:lang="en-US">Earning Per Share ADS [Domain]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EarningPerShareAdsDomain_lbl" xml:lang="en-US">Earning Per Share ADS.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EarningPerShareAdsMember" xlink:label="bidu_EarningPerShareAdsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EarningPerShareAdsMember" xlink:to="bidu_EarningPerShareAdsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EarningPerShareAdsMember_lbl" xml:lang="en-US">Earning Per Share ADS [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EarningPerShareAdsMember_lbl" xml:lang="en-US">Earning Per Share ADS.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_SegmentReportingEntityConsolidatedAssetsAbstract" xlink:label="us-gaap_SegmentReportingEntityConsolidatedAssetsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingEntityConsolidatedAssetsAbstract" xlink:to="lab_SegmentReportingEntityConsolidatedAssetsAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_SegmentReportingEntityConsolidatedAssetsAbstract" xml:lang="en-US">Segment Reporting, Entity Consolidated Assets [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_SegmentReportingEntityConsolidatedAssetsAbstract" xml:lang="en-US">Long-lived assets by geographic area</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToEntitysCountryOfDomicile" xlink:label="us-gaap_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToEntitysCountryOfDomicile" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToEntitysCountryOfDomicile" xlink:to="lab_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToEntitysCountryOfDomicile" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToEntitysCountryOfDomicile" xml:lang="en-US">Entity-Wide Disclosure on Geographic Areas, Revenue from External Customers Attributed to Entity's Country of Domicile</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToEntitysCountryOfDomicile" xml:lang="en-US">Revenues by geographic area, PRC</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries" xlink:label="us-gaap_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries" xlink:to="lab_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries" xml:lang="en-US">Entity-Wide Disclosure on Geographic Areas, Revenue from External Customers Attributed to Foreign Countries</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries" xml:lang="en-US">Revenues by geographic area, Non-PRC</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EntityWideDisclosureOnGeographicAreasLongLivedAssetsInEntitysCountryOfDomicile" xlink:label="us-gaap_EntityWideDisclosureOnGeographicAreasLongLivedAssetsInEntitysCountryOfDomicile" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EntityWideDisclosureOnGeographicAreasLongLivedAssetsInEntitysCountryOfDomicile" xlink:to="lab_EntityWideDisclosureOnGeographicAreasLongLivedAssetsInEntitysCountryOfDomicile" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EntityWideDisclosureOnGeographicAreasLongLivedAssetsInEntitysCountryOfDomicile" xml:lang="en-US">Entity-Wide Disclosure on Geographic Areas, Long-Lived Assets in Entity's Country of Domicile</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_EntityWideDisclosureOnGeographicAreasLongLivedAssetsInEntitysCountryOfDomicile" xml:lang="en-US">Long-lived assets by geographic area, PRC</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_EntityWideDisclosureOnGeographicAreasLongLivedAssetsInForeignCountries" xlink:label="us-gaap_EntityWideDisclosureOnGeographicAreasLongLivedAssetsInForeignCountries" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EntityWideDisclosureOnGeographicAreasLongLivedAssetsInForeignCountries" xlink:to="lab_EntityWideDisclosureOnGeographicAreasLongLivedAssetsInForeignCountries" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_EntityWideDisclosureOnGeographicAreasLongLivedAssetsInForeignCountries" xml:lang="en-US">Entity-Wide Disclosure on Geographic Areas, Long-Lived Assets in Foreign Countries</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_EntityWideDisclosureOnGeographicAreasLongLivedAssetsInForeignCountries" xml:lang="en-US">Long-lived assets by geographic area, Non-PRC</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EarningPerShareAdsLineItems" xlink:label="bidu_EarningPerShareAdsLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EarningPerShareAdsLineItems" xlink:to="bidu_EarningPerShareAdsLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EarningPerShareAdsLineItems_lbl" xml:lang="en-US">Earning Per Share ADS [Line Items]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EarningPerShareAdsLineItems_lbl" xml:lang="en-US">Earning Per Share Ads.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisFinancialStatementCaptionsLineItems" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisFinancialStatementCaptionsLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsMeasuredOnRecurringBasisFinancialStatementCaptionsLineItems" xlink:to="us-gaap_FairValueAssetsMeasuredOnRecurringBasisFinancialStatementCaptionsLineItems_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisFinancialStatementCaptionsLineItems_lbl" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis, Financial Statement Captions [Line Items]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_FairValueMeasuredOnRecurringBasisAssets" xlink:label="bidu_FairValueMeasuredOnRecurringBasisAssets" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_FairValueMeasuredOnRecurringBasisAssets" xlink:to="bidu_FairValueMeasuredOnRecurringBasisAssets_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_FairValueMeasuredOnRecurringBasisAssets_lbl" xml:lang="en-US">Fair Value Measured On Recurring Basis Assets</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="bidu_FairValueMeasuredOnRecurringBasisAssets_lbl" xml:lang="en-US">Total assets measured at fair value on a recurring basis</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_FairValueMeasuredOnRecurringBasisAssets_lbl" xml:lang="en-US">This element represents assets measured at fair value on a recurring basis.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AvailableForSaleSecuritiesAmortizedCost" xlink:label="us-gaap_AvailableForSaleSecuritiesAmortizedCost" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesAmortizedCost" xlink:to="us-gaap_AvailableForSaleSecuritiesAmortizedCost_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AvailableForSaleSecuritiesAmortizedCost_lbl" xml:lang="en-US">Available For Sale Securities Amortized Cost</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesAmortizedCost_lbl" xml:lang="en-US">The cost of long-term investments in available-for-sale securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_AvailableForSaleSecuritiesAmortizedCost_lbl" xml:lang="en-US">Available-for-sale Securities, Amortized Cost</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_DcmMember" xlink:label="bidu_DcmMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_DcmMember" xlink:to="bidu_DcmMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_DcmMember_lbl" xml:lang="en-US">Dcm [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_DcmMember_lbl" xml:lang="en-US">Going Forward DCM [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_DcmMember_lbl" xml:lang="en-US">Dcm.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterest" xlink:label="bidu_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterest" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterest" xlink:to="bidu_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterest_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterest_lbl" xml:lang="en-US">Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Cumulative Effects Of Changes In Accounting Principles Noncontrolling Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="bidu_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterest_lbl" xml:lang="en-US">Income before income taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterest_lbl" xml:lang="en-US">Income Loss from Continuing Operations before Income Taxes Extraordinary Items Cumulative Effects of Changes in Accounting Principles Noncontrolling Interest</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterest_lbl" xml:lang="en-US">Sum of operating profit and nonoperating income (expense) before income taxes, extraordinary items, cumulative effects of changes in accounting principles, and noncontrolling interest.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:to="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US">Debt Instrument Interest Rate Stated Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentInterestRateStatedPercentage_lbl" xml:lang="en-US">Annual interest rate</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_LongTermInvestments" xlink:label="us-gaap_LongTermInvestments" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LongTermInvestments" xlink:to="lab_LongTermInvestments" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_LongTermInvestments" xml:lang="en-US">Long-term Investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_LongTermInvestments" xml:lang="en-US">Long-term Investments, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_LongTermInvestments" xml:lang="en-US">Long-term investments, net</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterestAbstract" xlink:label="bidu_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterestAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterestAbstract" xlink:to="bidu_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterestAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterestAbstract_lbl" xml:lang="en-US">Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Cumulative Effects Of Changes In Accounting Principles Noncontrolling Interest Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterestAbstract_lbl" xml:lang="en-US">Income (loss) before income taxes</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsCumulativeEffectsOfChangesInAccountingPrinciplesNoncontrollingInterestAbstract_lbl" xml:lang="en-US">Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Cumulative Effects Of Changes In Accounting Principles Noncontrolling Interest.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities" xlink:label="us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities" xlink:to="lab_ProceedsFromSaleAndMaturityOfMarketableSecurities" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ProceedsFromSaleAndMaturityOfMarketableSecurities" xml:lang="en-US">Proceeds from Sale and Maturity of Marketable Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_ProceedsFromSaleAndMaturityOfMarketableSecurities" xml:lang="en-US">Proceeds from Sale and Maturity of Marketable Securities, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ProceedsFromSaleAndMaturityOfMarketableSecurities" xml:lang="en-US">Sales and maturities of short-term investments</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_FairValueOfFinancialInstrumentsPolicyTextBlock" xlink:label="bidu_FairValueOfFinancialInstrumentsPolicyTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_FairValueOfFinancialInstrumentsPolicyTextBlock" xlink:to="bidu_FairValueOfFinancialInstrumentsPolicyTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_FairValueOfFinancialInstrumentsPolicyTextBlock_lbl" xml:lang="en-US">Fair Value Of Financial Instruments Policy Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_FairValueOfFinancialInstrumentsPolicyTextBlock_lbl" xml:lang="en-US">Fair Value Measurements of Financial Instruments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_FairValueOfFinancialInstrumentsPolicyTextBlock_lbl" xml:lang="en-US">Describes an entity's accounting policy for determining the fair values of its financial instruments.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_OfficeBuildingOfficeBuildingRelatedFacilityAndMachineryAndEquipmentMember" xlink:label="bidu_OfficeBuildingOfficeBuildingRelatedFacilityAndMachineryAndEquipmentMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_OfficeBuildingOfficeBuildingRelatedFacilityAndMachineryAndEquipmentMember" xlink:to="bidu_OfficeBuildingOfficeBuildingRelatedFacilityAndMachineryAndEquipmentMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_OfficeBuildingOfficeBuildingRelatedFacilityAndMachineryAndEquipmentMember_lbl" xml:lang="en-US">Office Building Office Building Related Facility And Machinery And Equipment Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_OfficeBuildingOfficeBuildingRelatedFacilityAndMachineryAndEquipmentMember_lbl" xml:lang="en-US">Office Building, Office Building Related Facility and Machinery and Equipment [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_OfficeBuildingOfficeBuildingRelatedFacilityAndMachineryAndEquipmentMember_lbl" xml:lang="en-US">Office Building,Office Building Related Facility, and Machinery And Equipment.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ComputerEquipmentInternalUseSoftwareDevelopmentCostsVehiclesOfficeEquipmentAndLeaseholdImprovementsMember" xlink:label="bidu_ComputerEquipmentInternalUseSoftwareDevelopmentCostsVehiclesOfficeEquipmentAndLeaseholdImprovementsMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ComputerEquipmentInternalUseSoftwareDevelopmentCostsVehiclesOfficeEquipmentAndLeaseholdImprovementsMember" xlink:to="bidu_ComputerEquipmentInternalUseSoftwareDevelopmentCostsVehiclesOfficeEquipmentAndLeaseholdImprovementsMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ComputerEquipmentInternalUseSoftwareDevelopmentCostsVehiclesOfficeEquipmentAndLeaseholdImprovementsMember_lbl" xml:lang="en-US">Computer Equipment, Internal Use Software Development Costs, Vehicles, Office Equipment, and Leasehold Improvements [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ComputerEquipmentInternalUseSoftwareDevelopmentCostsVehiclesOfficeEquipmentAndLeaseholdImprovementsMember_lbl" xml:lang="en-US">Computer Equipment, Internal Use Software Development Costs, Vehicles, Office Equipment, and Leasehold Improvements.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_InvestmentsDisclosureTextBlock" xlink:label="bidu_InvestmentsDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_InvestmentsDisclosureTextBlock" xlink:to="bidu_InvestmentsDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_InvestmentsDisclosureTextBlock_lbl" xml:lang="en-US">Investments Disclosure Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_InvestmentsDisclosureTextBlock_lbl" xml:lang="en-US">INVESTMENTS</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_InvestmentsDisclosureTextBlock_lbl" xml:lang="en-US">This item represents the disclosure related to cost method investments, equity method investments and investments in held-to-maturity securities, trading securities and available-for-sale securities.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_NumberOfConvertibleRedeemablePreferredSharesAcquired" xlink:label="bidu_NumberOfConvertibleRedeemablePreferredSharesAcquired" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_NumberOfConvertibleRedeemablePreferredSharesAcquired" xlink:to="bidu_NumberOfConvertibleRedeemablePreferredSharesAcquired_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_NumberOfConvertibleRedeemablePreferredSharesAcquired_lbl" xml:lang="en-US">Number Of Convertible Redeemable Preferred Shares Acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_NumberOfConvertibleRedeemablePreferredSharesAcquired_lbl" xml:lang="en-US">Number of convertible redeemable preferred shares acquired</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_NumberOfConvertibleRedeemablePreferredSharesAcquired_lbl" xml:lang="en-US">Number of convertible redeemable preferred shares acquired by the entity as a long-term investment.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_InvestmentInAvailableForSaleDebtSecuritiesNeitherClassifiedAsCostMethodInvestmentsNorEquityMethodInvestmentsOwnershipPercentage" xlink:label="bidu_InvestmentInAvailableForSaleDebtSecuritiesNeitherClassifiedAsCostMethodInvestmentsNorEquityMethodInvestmentsOwnershipPercentage" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_InvestmentInAvailableForSaleDebtSecuritiesNeitherClassifiedAsCostMethodInvestmentsNorEquityMethodInvestmentsOwnershipPercentage" xlink:to="bidu_InvestmentInAvailableForSaleDebtSecuritiesNeitherClassifiedAsCostMethodInvestmentsNorEquityMethodInvestmentsOwnershipPercentage_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_InvestmentInAvailableForSaleDebtSecuritiesNeitherClassifiedAsCostMethodInvestmentsNorEquityMethodInvestmentsOwnershipPercentage_lbl" xml:lang="en-US">Investment In Available For Sale Debt Securities Neither Classified As Cost Method Investments Nor Equity Method Investments Ownership Percentage</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_InvestmentInAvailableForSaleDebtSecuritiesNeitherClassifiedAsCostMethodInvestmentsNorEquityMethodInvestmentsOwnershipPercentage_lbl" xml:lang="en-US">The percentage of ownership of available-for-sale debt securities in the investee accounted for under neither the cost method nor the equity method of accounting.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_InvestmentInAvailableForSaleDebtSecuritiesNeitherClassifiedAsCostMethodInvestmentsNorEquityMethodInvestmentsOwnershipPercentage_lbl" xml:lang="en-US">Equity interests in investee on an as-converted basis, ownership percentage</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_RegisteredCapital" xlink:label="bidu_RegisteredCapital" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_RegisteredCapital" xlink:to="bidu_RegisteredCapital_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_RegisteredCapital_lbl" xml:lang="en-US">Registered Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_RegisteredCapital_lbl" xml:lang="en-US">Registered capital refers to the total capital contribution of the shareholders that is registered with the relevant government agency.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_RegisteredCapital_lbl" xml:lang="en-US">Registered Capital</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EquityMethodInvesteePaiboTimesMember" xlink:label="bidu_EquityMethodInvesteePaiboTimesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EquityMethodInvesteePaiboTimesMember" xlink:to="bidu_EquityMethodInvesteePaiboTimesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EquityMethodInvesteePaiboTimesMember_lbl" xml:lang="en-US">Equity Method Investee Paibo Times Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_EquityMethodInvesteePaiboTimesMember_lbl" xml:lang="en-US">Paibo Times [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EquityMethodInvesteePaiboTimesMember_lbl" xml:lang="en-US">Equity Method Investee Paibo Times Member.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EquityMethodInvesteeQiyiComMember" xlink:label="bidu_EquityMethodInvesteeQiyiComMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EquityMethodInvesteeQiyiComMember" xlink:to="bidu_EquityMethodInvesteeQiyiComMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EquityMethodInvesteeQiyiComMember_lbl" xml:lang="en-US">Equity Method Investee Qiyi Com Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_EquityMethodInvesteeQiyiComMember_lbl" xml:lang="en-US">Qiyi.com [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EquityMethodInvesteeQiyiComMember_lbl" xml:lang="en-US">Equity Method Investee Qiyi Com Member.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EquityMethodInvesteeRakuBaiLimitedMember" xlink:label="bidu_EquityMethodInvesteeRakuBaiLimitedMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EquityMethodInvesteeRakuBaiLimitedMember" xlink:to="bidu_EquityMethodInvesteeRakuBaiLimitedMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EquityMethodInvesteeRakuBaiLimitedMember_lbl" xml:lang="en-US">Equity Method Investee Raku Bai Limited Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_EquityMethodInvesteeRakuBaiLimitedMember_lbl" xml:lang="en-US">RakuBai Limited [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EquityMethodInvesteeRakuBaiLimitedMember_lbl" xml:lang="en-US">Equity Method Investee Raku Bai Limited Member.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_AmountOtherEntitiesAgreeToPayToAcquireConvertiblePreferredSharesOfEquityMethodInvestee" xlink:label="bidu_AmountOtherEntitiesAgreeToPayToAcquireConvertiblePreferredSharesOfEquityMethodInvestee" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_AmountOtherEntitiesAgreeToPayToAcquireConvertiblePreferredSharesOfEquityMethodInvestee" xlink:to="bidu_AmountOtherEntitiesAgreeToPayToAcquireConvertiblePreferredSharesOfEquityMethodInvestee_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_AmountOtherEntitiesAgreeToPayToAcquireConvertiblePreferredSharesOfEquityMethodInvestee_lbl" xml:lang="en-US">Amount other entities agree to pay to acquire convertible preferred shares of equity method investee</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_AmountOtherEntitiesAgreeToPayToAcquireConvertiblePreferredSharesOfEquityMethodInvestee_lbl" xml:lang="en-US">This item represents the amount other entities agreed to pay to acquire convertible redeemable preferred shares and convertible preferred shares of the equity method investee.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_AmountOtherEntitiesAgreeToPayToAcquireConvertiblePreferredSharesOfEquityMethodInvestee_lbl" xml:lang="en-US">Amount other entities agree to pay to acquire convertible preferred shares of equity method investee</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_PercentageOfEquityInterestInJointVentureHeldByVariousParties" xlink:label="bidu_PercentageOfEquityInterestInJointVentureHeldByVariousParties" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_PercentageOfEquityInterestInJointVentureHeldByVariousParties" xlink:to="bidu_PercentageOfEquityInterestInJointVentureHeldByVariousParties_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_PercentageOfEquityInterestInJointVentureHeldByVariousParties_lbl" xml:lang="en-US">Percentage of equity interest in joint venture held by various parties</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_PercentageOfEquityInterestInJointVentureHeldByVariousParties_lbl" xml:lang="en-US">This item represents percentage of equity interest in joint venture held by various parties.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_PercentageOfEquityInterestInJointVentureHeldByVariousParties_lbl" xml:lang="en-US">Percentage of equity interest in joint venture held by various parties</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_BaiduNetcomsEquityInterestInChongqingRongduMember" xlink:label="bidu_BaiduNetcomsEquityInterestInChongqingRongduMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_BaiduNetcomsEquityInterestInChongqingRongduMember" xlink:to="bidu_BaiduNetcomsEquityInterestInChongqingRongduMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_BaiduNetcomsEquityInterestInChongqingRongduMember_lbl" xml:lang="en-US">Baidu Netcoms Equity Interest In Chongqing Rongdu Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_BaiduNetcomsEquityInterestInChongqingRongduMember_lbl" xml:lang="en-US">Baidu Netcom's Equity Interest In Chongqing Rongdu.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_BaiduNetcomsEquityInterestInChongqingRongduMember_lbl" xml:lang="en-US">Baidu Netcom's Equity Interest In Chongqing Rongdu [Member]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_YubaosEquityInterestInChongqingRongduMember" xlink:label="bidu_YubaosEquityInterestInChongqingRongduMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_YubaosEquityInterestInChongqingRongduMember" xlink:to="bidu_YubaosEquityInterestInChongqingRongduMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_YubaosEquityInterestInChongqingRongduMember_lbl" xml:lang="en-US">Yubaos Equity Interest In Chongqing Rongdu Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_YubaosEquityInterestInChongqingRongduMember_lbl" xml:lang="en-US">Yubao's Equity Interest In Chongqing Rongdu.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_YubaosEquityInterestInChongqingRongduMember_lbl" xml:lang="en-US">Yubao's Equity Interest In Chongqing Rongdu [Member]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ServiceNewsEquityInterestInChongqingRongduMember" xlink:label="bidu_ServiceNewsEquityInterestInChongqingRongduMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ServiceNewsEquityInterestInChongqingRongduMember" xlink:to="bidu_ServiceNewsEquityInterestInChongqingRongduMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ServiceNewsEquityInterestInChongqingRongduMember_lbl" xml:lang="en-US">Service News Equity Interest In Chongqing Rongdu Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ServiceNewsEquityInterestInChongqingRongduMember_lbl" xml:lang="en-US">Service News's Equity Interest In Chongqing Rongdu.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ServiceNewsEquityInterestInChongqingRongduMember_lbl" xml:lang="en-US">Service News's Equity Interest In Chongqing Rongdu [Member]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ThirdPartyIndividualsEquityInterestInChongqingRongduMember" xlink:label="bidu_ThirdPartyIndividualsEquityInterestInChongqingRongduMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ThirdPartyIndividualsEquityInterestInChongqingRongduMember" xlink:to="bidu_ThirdPartyIndividualsEquityInterestInChongqingRongduMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ThirdPartyIndividualsEquityInterestInChongqingRongduMember_lbl" xml:lang="en-US">Third Party Individuals Equity Interest In Chongqing Rongdu Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ThirdPartyIndividualsEquityInterestInChongqingRongduMember_lbl" xml:lang="en-US">Third Party Individual's Equity Interest In Chongqing Rongdu.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ThirdPartyIndividualsEquityInterestInChongqingRongduMember_lbl" xml:lang="en-US">Third Party Individual's Equity Interest In Chongqing Rongdu [Member]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_BaiduNetcomsEquityInterestInHenanFeidianMember" xlink:label="bidu_BaiduNetcomsEquityInterestInHenanFeidianMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_BaiduNetcomsEquityInterestInHenanFeidianMember" xlink:to="bidu_BaiduNetcomsEquityInterestInHenanFeidianMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_BaiduNetcomsEquityInterestInHenanFeidianMember_lbl" xml:lang="en-US">Baidu Netcoms Equity Interest In Henan Feidian Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_BaiduNetcomsEquityInterestInHenanFeidianMember_lbl" xml:lang="en-US">Baidu Netcom's Equity Interest In Henan Feidian.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_BaiduNetcomsEquityInterestInHenanFeidianMember_lbl" xml:lang="en-US">Baidu Netcom's Equity Interest In Henan Feidian [Member]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_HenanRuizhiqisEquityInterestInHenanFeidianMember" xlink:label="bidu_HenanRuizhiqisEquityInterestInHenanFeidianMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_HenanRuizhiqisEquityInterestInHenanFeidianMember" xlink:to="bidu_HenanRuizhiqisEquityInterestInHenanFeidianMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_HenanRuizhiqisEquityInterestInHenanFeidianMember_lbl" xml:lang="en-US">Henan Ruizhiqis Equity Interest In Henan Feidian Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_HenanRuizhiqisEquityInterestInHenanFeidianMember_lbl" xml:lang="en-US">Henan Ruizhiqi's Equity Interest In Henan Feidian.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_HenanRuizhiqisEquityInterestInHenanFeidianMember_lbl" xml:lang="en-US">Henan Ruizhiqi's Equity Interest In Henan Feidian [Member]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_HenanBusinessNewssEquityInterestInHenanFeidianMember" xlink:label="bidu_HenanBusinessNewssEquityInterestInHenanFeidianMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_HenanBusinessNewssEquityInterestInHenanFeidianMember" xlink:to="bidu_HenanBusinessNewssEquityInterestInHenanFeidianMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_HenanBusinessNewssEquityInterestInHenanFeidianMember_lbl" xml:lang="en-US">Henan Business Newss Equity Interest In Henan Feidian Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_HenanBusinessNewssEquityInterestInHenanFeidianMember_lbl" xml:lang="en-US">Henan Business News's Equity Interest In Henan Feidian.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_HenanBusinessNewssEquityInterestInHenanFeidianMember_lbl" xml:lang="en-US">Henan Business News's Equity Interest In Henan Feidian [Member]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ThirdPartyIndividualsEquityInterestInHenanFeidianMember" xlink:label="bidu_ThirdPartyIndividualsEquityInterestInHenanFeidianMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ThirdPartyIndividualsEquityInterestInHenanFeidianMember" xlink:to="bidu_ThirdPartyIndividualsEquityInterestInHenanFeidianMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ThirdPartyIndividualsEquityInterestInHenanFeidianMember_lbl" xml:lang="en-US">Third Party Individuals Equity Interest In Henan Feidian Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ThirdPartyIndividualsEquityInterestInHenanFeidianMember_lbl" xml:lang="en-US">Third Party Individual's Equity Interest In Henan Feidian.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ThirdPartyIndividualsEquityInterestInHenanFeidianMember_lbl" xml:lang="en-US">Third Party Individual's Equity Interest In Henan Feidian [Member]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_TimeDepositsOriginalMaturityPeriod" xlink:label="bidu_TimeDepositsOriginalMaturityPeriod" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_TimeDepositsOriginalMaturityPeriod" xlink:to="bidu_TimeDepositsOriginalMaturityPeriod_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_TimeDepositsOriginalMaturityPeriod_lbl" xml:lang="en-US">Time Deposits Original Maturity Period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_TimeDepositsOriginalMaturityPeriod_lbl" xml:lang="en-US">Time deposits original maturity period</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_TimeDepositsOriginalMaturityPeriod_lbl" xml:lang="en-US">Time deposits original maturity period.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_PercentageOfEquityInterestInJointVentureTransferredFromThirdPartyEntity" xlink:label="bidu_PercentageOfEquityInterestInJointVentureTransferredFromThirdPartyEntity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_PercentageOfEquityInterestInJointVentureTransferredFromThirdPartyEntity" xlink:to="bidu_PercentageOfEquityInterestInJointVentureTransferredFromThirdPartyEntity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_PercentageOfEquityInterestInJointVentureTransferredFromThirdPartyEntity_lbl" xml:lang="en-US">Percentage of equity interest in joint venture transferred from a third party entity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_PercentageOfEquityInterestInJointVentureTransferredFromThirdPartyEntity_lbl" xml:lang="en-US">Percentage of equity interest in joint venture transferred from a third party entity.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_PercentageOfEquityInterestInJointVentureTransferredFromThirdPartyEntity_lbl" xml:lang="en-US">Percentage of equity interest in joint venture transferred from a third party entity</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EquityInterestInHenanFeidianTransferredFromHenanRuizhiqiToBaiduNetcomMember" xlink:label="bidu_EquityInterestInHenanFeidianTransferredFromHenanRuizhiqiToBaiduNetcomMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EquityInterestInHenanFeidianTransferredFromHenanRuizhiqiToBaiduNetcomMember" xlink:to="bidu_EquityInterestInHenanFeidianTransferredFromHenanRuizhiqiToBaiduNetcomMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EquityInterestInHenanFeidianTransferredFromHenanRuizhiqiToBaiduNetcomMember_lbl" xml:lang="en-US">Equity Interest In Henan Feidian Transferred From Henan Ruizhiqi To Baidu Netcom [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_EquityInterestInHenanFeidianTransferredFromHenanRuizhiqiToBaiduNetcomMember_lbl" xml:lang="en-US">Equity Interest In Henan Feidian Transferred From Henan Ruizhiqi To BaiduNetcom [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EquityInterestInHenanFeidianTransferredFromHenanRuizhiqiToBaiduNetcomMember_lbl" xml:lang="en-US">Equity interest in henan feidian transferred from henan ruizhiqi to baidu netcom.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_NominalAmountPaidToAcquireEquityInterestInJointVentureTransferredFromThirdPartyEntity" xlink:label="bidu_NominalAmountPaidToAcquireEquityInterestInJointVentureTransferredFromThirdPartyEntity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_NominalAmountPaidToAcquireEquityInterestInJointVentureTransferredFromThirdPartyEntity" xlink:to="bidu_NominalAmountPaidToAcquireEquityInterestInJointVentureTransferredFromThirdPartyEntity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_NominalAmountPaidToAcquireEquityInterestInJointVentureTransferredFromThirdPartyEntity_lbl" xml:lang="en-US">Nominal Amount Paid To Acquire Equity Interest In Joint Venture Transferred From A Third Party Entity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_NominalAmountPaidToAcquireEquityInterestInJointVentureTransferredFromThirdPartyEntity_lbl" xml:lang="en-US">Nominal amount paid to acquire equity interest in joint venture transferred from a third party entity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_NominalAmountPaidToAcquireEquityInterestInJointVentureTransferredFromThirdPartyEntity_lbl" xml:lang="en-US">Nominal amount paid to acquire equity interest in joint venture transferred from a third party entity.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_PropertyPlantAndEquipmentGross" xlink:label="us-gaap_PropertyPlantAndEquipmentGross" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentGross" xlink:to="us-gaap_PropertyPlantAndEquipmentGross_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US">Property Plant And Equipment Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US">Property, Plant and Equipment, gross</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ConstructionInProgressMember" xlink:label="us-gaap_ConstructionInProgressMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConstructionInProgressMember" xlink:to="lab_ConstructionInProgressMember" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ConstructionInProgressMember" xml:lang="en-US">Construction in Progress [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsGross" xlink:to="lab_FiniteLivedIntangibleAssetsGross" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FiniteLivedIntangibleAssetsGross" xml:lang="en-US">Finite-Lived Intangible Assets, Gross</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_FiniteLivedIntangibleAssetsGross" xml:lang="en-US">Finite-Lived Intangible Assets, Gross, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FiniteLivedIntangibleAssetsGross" xml:lang="en-US">Finite-Lived Intangible Assets, Gross</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="lab_FiniteLivedIntangibleAssetsNet" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FiniteLivedIntangibleAssetsNet" xml:lang="en-US">Finite-Lived Intangible Assets, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_FiniteLivedIntangibleAssetsNet" xml:lang="en-US">Finite-Lived Intangible Assets, Net</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FiniteLivedIntangibleAssetsNet" xml:lang="en-US">Finite-Lived Intangible Assets, Net</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsByMajorClassTable" xlink:label="us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsByMajorClassTable" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsByMajorClassTable" xlink:to="lab_ScheduleOfIndefiniteLivedIntangibleAssetsByMajorClassTable" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ScheduleOfIndefiniteLivedIntangibleAssetsByMajorClassTable" xml:lang="en-US">Schedule of Indefinite-lived Intangible Assets by Major Class [Table]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xlink:to="lab_IndefiniteLivedIntangibleAssetsByMajorClassAxis" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IndefiniteLivedIntangibleAssetsByMajorClassAxis" xml:lang="en-US">Indefinite-lived Intangible Assets by Major Class [Axis]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xlink:to="lab_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IndefiniteLivedIntangibleAssetsMajorClassNameDomain" xml:lang="en-US">Indefinite-lived Intangible Assets, Major Class Name [Domain]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassLineItems" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassLineItems" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassLineItems" xlink:to="lab_IndefiniteLivedIntangibleAssetsByMajorClassLineItems" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IndefiniteLivedIntangibleAssetsByMajorClassLineItems" xml:lang="en-US">Indefinite-lived Intangible Assets by Major Class [Line Items]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNetAbstract" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNetAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNetAbstract" xlink:to="lab_FiniteLivedIntangibleAssetsNetAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_FiniteLivedIntangibleAssetsNetAbstract" xml:lang="en-US">Finite-Lived Intangible Assets, Net [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_FiniteLivedIntangibleAssetsNetAbstract" xml:lang="en-US">Finite-Lived:</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwillAbstract" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwillAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwillAbstract" xlink:to="lab_IndefiniteLivedIntangibleAssetsExcludingGoodwillAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IndefiniteLivedIntangibleAssetsExcludingGoodwillAbstract" xml:lang="en-US">Indefinite-Lived Intangible Assets (Excluding Goodwill) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IndefiniteLivedIntangibleAssetsExcludingGoodwillAbstract" xml:lang="en-US">Indefinite-Lived:</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_IntangibleAssetsGrossExcludingGoodwill" xlink:label="bidu_IntangibleAssetsGrossExcludingGoodwill" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_IntangibleAssetsGrossExcludingGoodwill" xlink:to="bidu_IntangibleAssetsGrossExcludingGoodwill_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IntangibleAssetsGrossExcludingGoodwill_lbl" xml:lang="en-US">Intangible Assets, Gross (Excluding Goodwill)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_IntangibleAssetsGrossExcludingGoodwill_lbl" xml:lang="en-US">Sum of the gross carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, before accumulated amortization and impairment charges.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_IntangibleAssetsGrossExcludingGoodwill_lbl" xml:lang="en-US">Intangible Assets, Gross (Excluding Goodwill)</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:label="us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xlink:to="lab_IndefiniteLivedIntangibleAssetsExcludingGoodwill" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xml:lang="en-US">Indefinite-Lived Intangible Assets (Excluding Goodwill)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xml:lang="en-US">Indefinite-Lived Intangible Assets (Excluding Goodwill), Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_IndefiniteLivedIntangibleAssetsExcludingGoodwill" xml:lang="en-US">Indefinite-Lived Intangible Assets (Excluding Goodwill)</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_RestrictedConsumerDeposits" xlink:label="bidu_RestrictedConsumerDeposits" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_RestrictedConsumerDeposits" xlink:to="bidu_RestrictedConsumerDeposits_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_RestrictedConsumerDeposits_lbl" xml:lang="en-US">Restricted Consumer Deposits</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_RestrictedConsumerDeposits_lbl" xml:lang="en-US">Customers' deposits on e-commerce platform</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_RestrictedConsumerDeposits_lbl" xml:lang="en-US">The carrying amount of deposits made by consumers on the entity's e-commerce platform. The deposits are considered restricted because they cannot be used for the operations of the entity or any other purpose not designated by consumers. When consumers fund their accounts in entity's online payment platform using their bank accounts, the deposited balance is included in the entity's bank account until customers either use the cash to settle their online transactions or withdraw the cash.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_UnifiedStatutoryEnterpriseIncomeTaxRateUnderCurrentEITLaw" xlink:label="bidu_UnifiedStatutoryEnterpriseIncomeTaxRateUnderCurrentEITLaw" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_UnifiedStatutoryEnterpriseIncomeTaxRateUnderCurrentEITLaw" xlink:to="bidu_UnifiedStatutoryEnterpriseIncomeTaxRateUnderCurrentEITLaw_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_UnifiedStatutoryEnterpriseIncomeTaxRateUnderCurrentEITLaw_lbl" xml:lang="en-US">Unified Statutory Enterprise Income Tax Rate Under Current E I T Law</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_UnifiedStatutoryEnterpriseIncomeTaxRateUnderCurrentEITLaw_lbl" xml:lang="en-US">Unified statutory income tax rate under current EIT law</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_UnifiedStatutoryEnterpriseIncomeTaxRateUnderCurrentEITLaw_lbl" xml:lang="en-US">The statutory enterprise income tax ("EIT") rate applicable to all PRC resident enterprises, including Foreign Investment Enterprises ("FIE") and foreign enterprises established outside of  PRC with "effective management and control" located in PRC, except for certain entities that enjoyed the tax holidays which are grandfathered by the current EIT Law or that are entitled to tax incentives under the current EIT Law, replacing the previous separate income tax laws for domestic enterprises and the FIEs.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_PreferentialEnterpriseIncomeTaxRate" xlink:label="bidu_PreferentialEnterpriseIncomeTaxRate" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_PreferentialEnterpriseIncomeTaxRate" xlink:to="bidu_PreferentialEnterpriseIncomeTaxRate_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_PreferentialEnterpriseIncomeTaxRate_lbl" xml:lang="en-US">Preferential Enterprise Income Tax Rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_PreferentialEnterpriseIncomeTaxRate_lbl" xml:lang="en-US">A preferential enterprise income tax rate</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_PreferentialEnterpriseIncomeTaxRate_lbl" xml:lang="en-US">A preferential enterprise income tax ("EIT") rate granted by relevant  PRC tax authorities to qualified PRC resident enterprises.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ReductionRateOnApplicableEnterpriseIncomeTaxRates" xlink:label="bidu_ReductionRateOnApplicableEnterpriseIncomeTaxRates" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ReductionRateOnApplicableEnterpriseIncomeTaxRates" xlink:to="bidu_ReductionRateOnApplicableEnterpriseIncomeTaxRates_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ReductionRateOnApplicableEnterpriseIncomeTaxRates_lbl" xml:lang="en-US">Reduction Rate On Applicable Enterprise Income Tax Rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ReductionRateOnApplicableEnterpriseIncomeTaxRates_lbl" xml:lang="en-US">Reduction rate on applicable enterprise income tax rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ReductionRateOnApplicableEnterpriseIncomeTaxRates_lbl" xml:lang="en-US">The reduction rate on applicable enterprise income tax rates granted by relevant PRC tax authorities to qualified PRC resident enterprises.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_QualifiedHnteAfter2008Member" xlink:label="bidu_QualifiedHnteAfter2008Member" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_QualifiedHnteAfter2008Member" xlink:to="bidu_QualifiedHnteAfter2008Member_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_QualifiedHnteAfter2008Member_lbl" xml:lang="en-US">Qualified Hnte After 2008 Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_QualifiedHnteAfter2008Member_lbl" xml:lang="en-US">Qualified HNTE After 2008.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_QualifiedHnteAfter2008Member_lbl" xml:lang="en-US">Qualified HNTE After 2008 [Member]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_QualifiedHnteGrantedWithTaxHolidayBefore2008AndVerifiedAsQualifiedHnteAfter2008Member" xlink:label="bidu_QualifiedHnteGrantedWithTaxHolidayBefore2008AndVerifiedAsQualifiedHnteAfter2008Member" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_QualifiedHnteGrantedWithTaxHolidayBefore2008AndVerifiedAsQualifiedHnteAfter2008Member" xlink:to="bidu_QualifiedHnteGrantedWithTaxHolidayBefore2008AndVerifiedAsQualifiedHnteAfter2008Member_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_QualifiedHnteGrantedWithTaxHolidayBefore2008AndVerifiedAsQualifiedHnteAfter2008Member_lbl" xml:lang="en-US">Qualified Hnte Granted With Tax Holiday Before 2008 And Verified As Qualified Hnte After 2008 Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_QualifiedHnteGrantedWithTaxHolidayBefore2008AndVerifiedAsQualifiedHnteAfter2008Member_lbl" xml:lang="en-US">Qualified HNTE Granted with Tax Holiday before 2008 and Verified as Qualified HNTE After 2008 [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_QualifiedHnteGrantedWithTaxHolidayBefore2008AndVerifiedAsQualifiedHnteAfter2008Member_lbl" xml:lang="en-US">Qualified HNTE Granted With Tax Holiday Before 2008 And Verified As Qualified  HNTE After 2008.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_QualifiedHnteInTransitionalPeriodOfPreferentialReductionOfTaxRatesMember" xlink:label="bidu_QualifiedHnteInTransitionalPeriodOfPreferentialReductionOfTaxRatesMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_QualifiedHnteInTransitionalPeriodOfPreferentialReductionOfTaxRatesMember" xlink:to="bidu_QualifiedHnteInTransitionalPeriodOfPreferentialReductionOfTaxRatesMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_QualifiedHnteInTransitionalPeriodOfPreferentialReductionOfTaxRatesMember_lbl" xml:lang="en-US">Qualified Hnte In Transitional Period Of Preferential Reduction Of Tax Rates Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_QualifiedHnteInTransitionalPeriodOfPreferentialReductionOfTaxRatesMember_lbl" xml:lang="en-US">Qualified HNTE In Transitional Period Of Preferential Reduction Of Tax Rates.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_QualifiedHnteInTransitionalPeriodOfPreferentialReductionOfTaxRatesMember_lbl" xml:lang="en-US">Qualified HNTE in Transitional Period of Preferential Reduction of Tax Rates [Member]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SomeQualifiedSoftwareEnterpriseBefore2008Member" xlink:label="bidu_SomeQualifiedSoftwareEnterpriseBefore2008Member" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SomeQualifiedSoftwareEnterpriseBefore2008Member" xlink:to="bidu_SomeQualifiedSoftwareEnterpriseBefore2008Member_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SomeQualifiedSoftwareEnterpriseBefore2008Member_lbl" xml:lang="en-US">Some Qualified Software Enterprise Before 2008 Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SomeQualifiedSoftwareEnterpriseBefore2008Member_lbl" xml:lang="en-US">Some Qualified Software Enterprise Before 2008.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_SomeQualifiedSoftwareEnterpriseBefore2008Member_lbl" xml:lang="en-US">Some Qualified Software Enterprise Before 2008 [Member]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_QualifiedSoftwareEnterpriseMember" xlink:label="bidu_QualifiedSoftwareEnterpriseMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_QualifiedSoftwareEnterpriseMember" xlink:to="bidu_QualifiedSoftwareEnterpriseMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_QualifiedSoftwareEnterpriseMember_lbl" xml:lang="en-US">Qualified Software Enterprise Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_QualifiedSoftwareEnterpriseMember_lbl" xml:lang="en-US">Qualified Software Enterprise.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_QualifiedSoftwareEnterpriseMember_lbl" xml:lang="en-US">Qualified Software Enterprise [Member]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates" xlink:label="bidu_ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates" xlink:to="bidu_ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates_lbl" xml:lang="en-US">Applicable Statutory Enterprise Income Tax Rates From Tax Reduction On Transitional Tax Rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates_lbl" xml:lang="en-US">Applicable statutory enterprise income tax rates from tax reduction on transitional tax rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates_lbl" xml:lang="en-US">The applicable statutory enterprise income tax rates from tax reduction on transitional tax rates.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ApplicableActualEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates" xlink:label="bidu_ApplicableActualEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ApplicableActualEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates" xlink:to="bidu_ApplicableActualEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ApplicableActualEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates_lbl" xml:lang="en-US">Applicable Actual Enterprise Income Tax Rates From Tax Reduction On Transitional Tax Rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ApplicableActualEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates_lbl" xml:lang="en-US">Applicable actual enterprise income tax rates from tax reduction on transitional tax rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ApplicableActualEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates_lbl" xml:lang="en-US">The applicable actual enterprise income tax rates from tax reduction on transitional tax rates.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_TransitionalEnterpriseIncomeTaxRates" xlink:label="bidu_TransitionalEnterpriseIncomeTaxRates" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_TransitionalEnterpriseIncomeTaxRates" xlink:to="bidu_TransitionalEnterpriseIncomeTaxRates_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_TransitionalEnterpriseIncomeTaxRates_lbl" xml:lang="en-US">Transitional Enterprise Income Tax Rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_TransitionalEnterpriseIncomeTaxRates_lbl" xml:lang="en-US">Transitional enterprise income tax rates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_TransitionalEnterpriseIncomeTaxRates_lbl" xml:lang="en-US">The transitional enterprise income tax rates from 2008 to 2012 according to Guofa [2007] No. 39.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_StatutoryWithholdingTaxRateToWhichDividendsPaidByFIEToAnyOfItsForeignNonResidentEnterpriseInvestorsAreSubjectUnderCurrentEITLaw" xlink:label="bidu_StatutoryWithholdingTaxRateToWhichDividendsPaidByFIEToAnyOfItsForeignNonResidentEnterpriseInvestorsAreSubjectUnderCurrentEITLaw" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_StatutoryWithholdingTaxRateToWhichDividendsPaidByFIEToAnyOfItsForeignNonResidentEnterpriseInvestorsAreSubjectUnderCurrentEITLaw" xlink:to="bidu_StatutoryWithholdingTaxRateToWhichDividendsPaidByFIEToAnyOfItsForeignNonResidentEnterpriseInvestorsAreSubjectUnderCurrentEITLaw_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_StatutoryWithholdingTaxRateToWhichDividendsPaidByFIEToAnyOfItsForeignNonResidentEnterpriseInvestorsAreSubjectUnderCurrentEITLaw_lbl" xml:lang="en-US">Statutory Withholding Tax Rate To Which Dividends Paid By F I E To Any Of Its Foreign Non Resident Enterprise Investors Are Subject Under Current E I T Law</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_StatutoryWithholdingTaxRateToWhichDividendsPaidByFIEToAnyOfItsForeignNonResidentEnterpriseInvestorsAreSubjectUnderCurrentEITLaw_lbl" xml:lang="en-US">Statutory withholding tax rate to which dividends paid by a FIE to any of its foreign non-resident enterprise investors are subject under current EIT law</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_StatutoryWithholdingTaxRateToWhichDividendsPaidByFIEToAnyOfItsForeignNonResidentEnterpriseInvestorsAreSubjectUnderCurrentEITLaw_lbl" xml:lang="en-US">The statutory withholding tax rate to which dividends paid by a FIE to any of its foreign non-resident enterprise investors are subject under the current EIT Law, which were exempt under the previous EIT Law.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SpecialWithholdingTaxRateToWhichDividendsPaidByFIEToAnyOfItsForeignNonResidentEnterpriseInvestorsAreSubjectUnderCurrentEITLaw" xlink:label="bidu_SpecialWithholdingTaxRateToWhichDividendsPaidByFIEToAnyOfItsForeignNonResidentEnterpriseInvestorsAreSubjectUnderCurrentEITLaw" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SpecialWithholdingTaxRateToWhichDividendsPaidByFIEToAnyOfItsForeignNonResidentEnterpriseInvestorsAreSubjectUnderCurrentEITLaw" xlink:to="bidu_SpecialWithholdingTaxRateToWhichDividendsPaidByFIEToAnyOfItsForeignNonResidentEnterpriseInvestorsAreSubjectUnderCurrentEITLaw_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SpecialWithholdingTaxRateToWhichDividendsPaidByFIEToAnyOfItsForeignNonResidentEnterpriseInvestorsAreSubjectUnderCurrentEITLaw_lbl" xml:lang="en-US">Special Withholding Tax Rate To Which Dividends Paid By F I E To Any Of Its Foreign Non Resident Enterprise Investors Are Subject Under Current E I T Law</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_SpecialWithholdingTaxRateToWhichDividendsPaidByFIEToAnyOfItsForeignNonResidentEnterpriseInvestorsAreSubjectUnderCurrentEITLaw_lbl" xml:lang="en-US">Special withholding tax rate to which dividends paid by a FIE to any of its foreign non-resident enterprise investors are subject under current EIT law</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SpecialWithholdingTaxRateToWhichDividendsPaidByFIEToAnyOfItsForeignNonResidentEnterpriseInvestorsAreSubjectUnderCurrentEITLaw_lbl" xml:lang="en-US">A special withholding tax rate to which dividends paid by a FIE to any of its foreign non-resident enterprise investors are subject under the current EIT Law,provided that such foreign non-resident enterprise investor's jurisdiction of incorporation has signed a tax treaty or arrangement for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income with China."China" refers to the People's Republic of China, and solely for the purpose of this report, excluding Taiwan, Hong Kong and Macau.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_NumberOfYearsOfTaxExemption" xlink:label="bidu_NumberOfYearsOfTaxExemption" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_NumberOfYearsOfTaxExemption" xlink:to="bidu_NumberOfYearsOfTaxExemption_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_NumberOfYearsOfTaxExemption_lbl" xml:lang="en-US">Number Of Years Of Tax Exemption</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_NumberOfYearsOfTaxExemption_lbl" xml:lang="en-US">Number of years of tax exemption</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_NumberOfYearsOfTaxExemption_lbl" xml:lang="en-US">Number of years of enterprise income tax exemption.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_NumberOfYearsOfTaxRateReductionSubsequentToYearsOfTaxExemption" xlink:label="bidu_NumberOfYearsOfTaxRateReductionSubsequentToYearsOfTaxExemption" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_NumberOfYearsOfTaxRateReductionSubsequentToYearsOfTaxExemption" xlink:to="bidu_NumberOfYearsOfTaxRateReductionSubsequentToYearsOfTaxExemption_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_NumberOfYearsOfTaxRateReductionSubsequentToYearsOfTaxExemption_lbl" xml:lang="en-US">Number Of Years Of Tax Rate Reduction Subsequent To Years Of Tax Exemption</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_NumberOfYearsOfTaxRateReductionSubsequentToYearsOfTaxExemption_lbl" xml:lang="en-US">Number of years of tax rate reduction subsequent to years of tax exemption</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_NumberOfYearsOfTaxRateReductionSubsequentToYearsOfTaxExemption_lbl" xml:lang="en-US">Number of years of enterprise income tax rate reduction subsequent to years of tax exemption.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_LongTermLoansPayableDisclosureTextBlock" xlink:label="bidu_LongTermLoansPayableDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_LongTermLoansPayableDisclosureTextBlock" xlink:to="bidu_LongTermLoansPayableDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_LongTermLoansPayableDisclosureTextBlock_lbl" xml:lang="en-US">Long Term Loans Payable Disclosure Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_LongTermLoansPayableDisclosureTextBlock_lbl" xml:lang="en-US">LOANS PAYABLE, NONCURRENT</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_LongTermLoansPayableDisclosureTextBlock_lbl" xml:lang="en-US">Description containing the entire long-term loans payable disclosure.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesTextBlock" xlink:label="bidu_LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesTextBlock" xlink:to="bidu_LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesTextBlock_lbl" xml:lang="en-US">Long Term Loans Payable Principal Amounts Due At Maturity Dates Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesTextBlock_lbl" xml:lang="en-US">Long-term loans payable principal amounts due at maturity dates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesTextBlock_lbl" xml:lang="en-US">This item represents the disclosure of principal amounts due at maturity dates of long-term loans payable.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesAbstract" xlink:label="bidu_LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesAbstract" xlink:to="bidu_LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesAbstract_lbl" xml:lang="en-US">Long Term Loans Payable Principal Amounts Due At Maturity Dates Abstract</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesAbstract_lbl" xml:lang="en-US">Long-term loans payable principal amounts due at maturity dates</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesAbstract_lbl" xml:lang="en-US">The principal amounts due at maturity dates of long-term loans payable.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:to="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xml:lang="en-US">Line Of Credit Facility Maximum Borrowing Capacity</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_lbl" xml:lang="en-US">Specific amount up to which borrowings can be made under the commitment of an unsecured bank loan</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_PeriodWithinWhichSpecificAmountCanBeBorrowed" xlink:label="bidu_PeriodWithinWhichSpecificAmountCanBeBorrowed" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_PeriodWithinWhichSpecificAmountCanBeBorrowed" xlink:to="bidu_PeriodWithinWhichSpecificAmountCanBeBorrowed_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_PeriodWithinWhichSpecificAmountCanBeBorrowed_lbl" xml:lang="en-US">Period Within Which Specific Amount Can Be Borrowed</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_PeriodWithinWhichSpecificAmountCanBeBorrowed_lbl" xml:lang="en-US">The period within which a specific amount can be borrowed under a contractual arrangement with the lender.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_PeriodWithinWhichSpecificAmountCanBeBorrowed_lbl" xml:lang="en-US">The period within which a specific amount can be borrowed under the commitment of an unsecured bank loan (in years)</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_CommitmentsContingenciesAndGuaranteesDisclosureTextBlock" xlink:label="bidu_CommitmentsContingenciesAndGuaranteesDisclosureTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_CommitmentsContingenciesAndGuaranteesDisclosureTextBlock" xlink:to="bidu_CommitmentsContingenciesAndGuaranteesDisclosureTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_CommitmentsContingenciesAndGuaranteesDisclosureTextBlock_lbl" xml:lang="en-US">Commitments Contingencies And Guarantees Disclosure Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_CommitmentsContingenciesAndGuaranteesDisclosureTextBlock_lbl" xml:lang="en-US">COMMITMENTS AND CONTINGENCIES</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_CommitmentsContingenciesAndGuaranteesDisclosureTextBlock_lbl" xml:lang="en-US">Includes disclosure of commitments,contingencies and guarantees. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_TotalCapitalCommitmentsContractedNotYetReflectedInFinancialStatements" xlink:label="bidu_TotalCapitalCommitmentsContractedNotYetReflectedInFinancialStatements" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_TotalCapitalCommitmentsContractedNotYetReflectedInFinancialStatements" xlink:to="bidu_TotalCapitalCommitmentsContractedNotYetReflectedInFinancialStatements_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_TotalCapitalCommitmentsContractedNotYetReflectedInFinancialStatements_lbl" xml:lang="en-US">Total capital commitments contracted not yet reflected in financial statements</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_TotalCapitalCommitmentsContractedNotYetReflectedInFinancialStatements_lbl" xml:lang="en-US">Total capital commitments that has been contracted but not yet reflected in the financial statements.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_TotalCapitalCommitmentsContractedNotYetReflectedInFinancialStatements_lbl" xml:lang="en-US">Total capital commitments contracted not yet reflected in financial statements</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EarningsPerShareForClassaAndClassBOrdinarySharesAndEarningsPerAdsTextBlock" xlink:label="bidu_EarningsPerShareForClassaAndClassBOrdinarySharesAndEarningsPerAdsTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EarningsPerShareForClassaAndClassBOrdinarySharesAndEarningsPerAdsTextBlock" xlink:to="bidu_EarningsPerShareForClassaAndClassBOrdinarySharesAndEarningsPerAdsTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EarningsPerShareForClassaAndClassBOrdinarySharesAndEarningsPerAdsTextBlock_lbl" xml:lang="en-US">Earnings Per Share For Classa And Class B Ordinary Shares And Earnings Per Ads [Text Block]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EarningsPerShareForClassaAndClassBOrdinarySharesAndEarningsPerAdsTextBlock_lbl" xml:lang="en-US">Earnings per share for class A and class B ordinary shares and earnings per ADS.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_EarningsPerShareForClassaAndClassBOrdinarySharesAndEarningsPerAdsTextBlock_lbl" xml:lang="en-US">Computation of basic and diluted net income per share for Class A and Class B ordinary shares and of basic and diluted net income per ADS</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EarningsPerShareTextualsAbstract" xlink:label="bidu_EarningsPerShareTextualsAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EarningsPerShareTextualsAbstract" xlink:to="bidu_EarningsPerShareTextualsAbstract_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EarningsPerShareTextualsAbstract_lbl" xml:lang="en-US">Earnings Per Share (Textuals) [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EarningsPerShareTextualsAbstract_lbl" xml:lang="en-US">Earnings Per Share Textuals Abstract.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_EarningsPerShareTextualsAbstract_lbl" xml:lang="en-US">Earnings Per Share (Textuals) [Abstract]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_PreviousRatioOfAdsToClassaOrdinaryShare" xlink:label="bidu_PreviousRatioOfAdsToClassaOrdinaryShare" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_PreviousRatioOfAdsToClassaOrdinaryShare" xlink:to="bidu_PreviousRatioOfAdsToClassaOrdinaryShare_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_PreviousRatioOfAdsToClassaOrdinaryShare_lbl" xml:lang="en-US">Previous Ratio Of Ads To Classa Ordinary Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_PreviousRatioOfAdsToClassaOrdinaryShare_lbl" xml:lang="en-US">Previous Ratio of ADS-to-Class A Ordinary Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_PreviousRatioOfAdsToClassaOrdinaryShare_lbl" xml:lang="en-US">The previous ratio of the entity's American depositary shares ("ADSs") representing Class A ordinary shares, which is effective from the time of the entity's IPO to May 11, 2010.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_CurrentRatioOfAdsToClassaOrdinaryShare" xlink:label="bidu_CurrentRatioOfAdsToClassaOrdinaryShare" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_CurrentRatioOfAdsToClassaOrdinaryShare" xlink:to="bidu_CurrentRatioOfAdsToClassaOrdinaryShare_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_CurrentRatioOfAdsToClassaOrdinaryShare_lbl" xml:lang="en-US">Current Ratio Of Ads To Classa Ordinary Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_CurrentRatioOfAdsToClassaOrdinaryShare_lbl" xml:lang="en-US">Current Ratio of ADS-to-Class A Ordinary Share</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_CurrentRatioOfAdsToClassaOrdinaryShare_lbl" xml:lang="en-US">The current ratio of the entity's American depositary shares ("ADSs") representing Class A ordinary shares, which is effective from May 12, 2010 to Dec. 31, 2010.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_SplitWhoseEffectIsSameWithChangeOfAdsToClassaOrdinaryShareRatio" xlink:label="bidu_SplitWhoseEffectIsSameWithChangeOfAdsToClassaOrdinaryShareRatio" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_SplitWhoseEffectIsSameWithChangeOfAdsToClassaOrdinaryShareRatio" xlink:to="bidu_SplitWhoseEffectIsSameWithChangeOfAdsToClassaOrdinaryShareRatio_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_SplitWhoseEffectIsSameWithChangeOfAdsToClassaOrdinaryShareRatio_lbl" xml:lang="en-US">Split Whose Effect Is Same With Change Of Ads To Classa Ordinary Share Ratio</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_SplitWhoseEffectIsSameWithChangeOfAdsToClassaOrdinaryShareRatio_lbl" xml:lang="en-US">The split whose effect is the same with the entity's change of the ADS to Class A ordinary share ratio</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_SplitWhoseEffectIsSameWithChangeOfAdsToClassaOrdinaryShareRatio_lbl" xml:lang="en-US">The split whose effect is the same with the entity's change of the ADS to Class A ordinary share ratio.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="lab_WeightedAverageNumberOfSharesOutstandingAbstract" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_WeightedAverageNumberOfSharesOutstandingAbstract" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Diluted [Abstract]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_WeightedAverageNumberOfSharesOutstandingAbstract" xml:lang="en-US">Denominator</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesIssuedBasic" xlink:label="us-gaap_WeightedAverageNumberOfSharesIssuedBasic" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesIssuedBasic" xlink:to="lab_WeightedAverageNumberOfSharesIssuedBasic" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_WeightedAverageNumberOfSharesIssuedBasic" xml:lang="en-US">Weighted Average Number of Shares Issued, Basic</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_WeightedAverageNumberOfSharesIssuedBasic" xml:lang="en-US">Weighted average ordinary shares outstanding</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ShareOptionUnder2000PlanMember" xlink:label="bidu_ShareOptionUnder2000PlanMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ShareOptionUnder2000PlanMember" xlink:to="bidu_ShareOptionUnder2000PlanMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ShareOptionUnder2000PlanMember_lbl" xml:lang="en-US">Share Option Under 2000 Plan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ShareOptionUnder2000PlanMember_lbl" xml:lang="en-US">Share Option Under 2000 Plan Member.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_IsoUnder2008PlanMember" xlink:label="bidu_IsoUnder2008PlanMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_IsoUnder2008PlanMember" xlink:to="bidu_IsoUnder2008PlanMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_IsoUnder2008PlanMember_lbl" xml:lang="en-US">Iso Under 2008 Plan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_IsoUnder2008PlanMember_lbl" xml:lang="en-US">ISO Under 2008 Plan Member.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_IsoUnder2008PlanMember_lbl" xml:lang="en-US">ISO Under 2008 Plan [Member]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_ModifiedShareOptionUnder2000PlanMember" xlink:label="bidu_ModifiedShareOptionUnder2000PlanMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ModifiedShareOptionUnder2000PlanMember" xlink:to="bidu_ModifiedShareOptionUnder2000PlanMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ModifiedShareOptionUnder2000PlanMember_lbl" xml:lang="en-US">Modified Share Option Under 2000 Plan [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ModifiedShareOptionUnder2000PlanMember_lbl" xml:lang="en-US">Modified Share Option Under 2000 Plan.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EntityWideDisclosureOnGeographicAreasLongLivedAssetsTotal" xlink:label="bidu_EntityWideDisclosureOnGeographicAreasLongLivedAssetsTotal" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EntityWideDisclosureOnGeographicAreasLongLivedAssetsTotal" xlink:to="bidu_EntityWideDisclosureOnGeographicAreasLongLivedAssetsTotal_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EntityWideDisclosureOnGeographicAreasLongLivedAssetsTotal_lbl" xml:lang="en-US">Entity Wide Disclosure On Geographic Areas Long Lived Assets Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_EntityWideDisclosureOnGeographicAreasLongLivedAssetsTotal_lbl" xml:lang="en-US">Long-lived assets by geographic area, total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EntityWideDisclosureOnGeographicAreasLongLivedAssetsTotal_lbl" xml:lang="en-US">Amount of long-lived assets (except financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets) that are (1) located in the entity's country of domicile, and (2) located in all foreign countries in which the entity holds assets.</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecurities" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtSecurities" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AvailableForSaleSecuritiesDebtSecurities" xlink:to="lab_AvailableForSaleSecuritiesDebtSecurities" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_AvailableForSaleSecuritiesDebtSecurities" xml:lang="en-US">Available-for-sale Securities, Debt Securities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_AvailableForSaleSecuritiesDebtSecurities" xml:lang="en-US">Long-term investments</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_AvailableForSaleSecuritiesDebtSecurities" xml:lang="en-US">Long-term investments</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:label="us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairmentOfLongLivedAssetsHeldForUse" xlink:to="lab_ImpairmentOfLongLivedAssetsHeldForUse" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_ImpairmentOfLongLivedAssetsHeldForUse" xml:lang="en-US">Impairment of Long-Lived Assets Held-for-use</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_ImpairmentOfLongLivedAssetsHeldForUse" xml:lang="en-US">Impairment charge resulted from reduced use of certain capitalized internal-use software due to changes in operations</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_TotalConsiderationByOtherEntityForSubscriptionForNewOrdinarySharesInNewJointVenture" xlink:label="bidu_TotalConsiderationByOtherEntityForSubscriptionForNewOrdinarySharesInNewJointVenture" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_TotalConsiderationByOtherEntityForSubscriptionForNewOrdinarySharesInNewJointVenture" xlink:to="bidu_TotalConsiderationByOtherEntityForSubscriptionForNewOrdinarySharesInNewJointVenture_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_TotalConsiderationByOtherEntityForSubscriptionForNewOrdinarySharesInNewJointVenture_lbl" xml:lang="en-US">Total Consideration By Other Entity For Subscription For New Ordinary Shares In New Joint Venture</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_TotalConsiderationByOtherEntityForSubscriptionForNewOrdinarySharesInNewJointVenture_lbl" xml:lang="en-US">Total consideration by DCM for subscribing for new ordinary shares in the new joint venture</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_TotalConsiderationByOtherEntityForSubscriptionForNewOrdinarySharesInNewJointVenture_lbl" xml:lang="en-US">Total consideration by other entity for subscribing for new ordinary shares in the new joint venture.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_PercentageOfEquityInterestHeldByEntitiesInNewJointVenture" xlink:label="bidu_PercentageOfEquityInterestHeldByEntitiesInNewJointVenture" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_PercentageOfEquityInterestHeldByEntitiesInNewJointVenture" xlink:to="bidu_PercentageOfEquityInterestHeldByEntitiesInNewJointVenture_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_PercentageOfEquityInterestHeldByEntitiesInNewJointVenture_lbl" xml:lang="en-US">Percentage Of Equity Interest Held By Entities In New Joint Venture</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_PercentageOfEquityInterestHeldByEntitiesInNewJointVenture_lbl" xml:lang="en-US">Percentage of equity interest held by the Company and DCM in the new joint venture respectively upon the completion of the ordinary shares subscription</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_PercentageOfEquityInterestHeldByEntitiesInNewJointVenture_lbl" xml:lang="en-US">Percentage of equity interest held by entities in the new joint venture respectively upon the completion of the ordinary shares subscription.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_NumberOfPreferredSharesOfCostMethodInvesteeEntityAgreedToSubscribeFor" xlink:label="bidu_NumberOfPreferredSharesOfCostMethodInvesteeEntityAgreedToSubscribeFor" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_NumberOfPreferredSharesOfCostMethodInvesteeEntityAgreedToSubscribeFor" xlink:to="bidu_NumberOfPreferredSharesOfCostMethodInvesteeEntityAgreedToSubscribeFor_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_NumberOfPreferredSharesOfCostMethodInvesteeEntityAgreedToSubscribeFor_lbl" xml:lang="en-US">Number Of Preferred Shares Of Cost Method Investee Entity Agreed To Subscribe For</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_NumberOfPreferredSharesOfCostMethodInvesteeEntityAgreedToSubscribeFor_lbl" xml:lang="en-US">Number of series C preferred shares of the cost method investee the Company agreed to subscribe for</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_NumberOfPreferredSharesOfCostMethodInvesteeEntityAgreedToSubscribeFor_lbl" xml:lang="en-US">Number of series C preferred shares of the cost method investee the entity agreed to subscribe for.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_CashConsiderationByEntityForSubscriptionForPreferredSharesOfCostMethodInvestee" xlink:label="bidu_CashConsiderationByEntityForSubscriptionForPreferredSharesOfCostMethodInvestee" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_CashConsiderationByEntityForSubscriptionForPreferredSharesOfCostMethodInvestee" xlink:to="bidu_CashConsiderationByEntityForSubscriptionForPreferredSharesOfCostMethodInvestee_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_CashConsiderationByEntityForSubscriptionForPreferredSharesOfCostMethodInvestee_lbl" xml:lang="en-US">Cash Consideration By Entity For Subscription For Preferred Shares Of Cost Method Investee</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_CashConsiderationByEntityForSubscriptionForPreferredSharesOfCostMethodInvestee_lbl" xml:lang="en-US">Total cash consideration by the Company for subscribing for the series C preferred shares of the cost method investee</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_CashConsiderationByEntityForSubscriptionForPreferredSharesOfCostMethodInvestee_lbl" xml:lang="en-US">Total cash consideration by the entity for subscribing for the series C preferred shares of the cost method investee.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_PercentageOfEquityInterestHeldByEntityInCostMethodInvesteeOnAsConvertedBasis" xlink:label="bidu_PercentageOfEquityInterestHeldByEntityInCostMethodInvesteeOnAsConvertedBasis" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_PercentageOfEquityInterestHeldByEntityInCostMethodInvesteeOnAsConvertedBasis" xlink:to="bidu_PercentageOfEquityInterestHeldByEntityInCostMethodInvesteeOnAsConvertedBasis_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_PercentageOfEquityInterestHeldByEntityInCostMethodInvesteeOnAsConvertedBasis_lbl" xml:lang="en-US">Percentage Of Equity Interest Held By Entity In Cost Method Investee On As Converted Basis</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_PercentageOfEquityInterestHeldByEntityInCostMethodInvesteeOnAsConvertedBasis_lbl" xml:lang="en-US">Percentage of equity interest held by the Company in the cost method investee on an as-converted basis</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_PercentageOfEquityInterestHeldByEntityInCostMethodInvesteeOnAsConvertedBasis_lbl" xml:lang="en-US">Percentage of equity interest held by the entity in the cost method investee on an as-converted basis.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_AccountsPayableAndAccruedLiabilitiesCurrentTextBlock" xlink:label="bidu_AccountsPayableAndAccruedLiabilitiesCurrentTextBlock" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_AccountsPayableAndAccruedLiabilitiesCurrentTextBlock" xlink:to="bidu_AccountsPayableAndAccruedLiabilitiesCurrentTextBlock_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_AccountsPayableAndAccruedLiabilitiesCurrentTextBlock_lbl" xml:lang="en-US">Accounts Payable And Accrued Liabilities Current Text Block</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_AccountsPayableAndAccruedLiabilitiesCurrentTextBlock_lbl" xml:lang="en-US">Accounts payable and accrued liabilities</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_AccountsPayableAndAccruedLiabilitiesCurrentTextBlock_lbl" xml:lang="en-US">Accounts Payable And Accrued Liabilities Current (Tables).</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_MinimumPaidInCapitalRequiredForSpecifiedNationalIncomeTaxRateOfForeignCountry" xlink:label="bidu_MinimumPaidInCapitalRequiredForSpecifiedNationalIncomeTaxRateOfForeignCountry" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_MinimumPaidInCapitalRequiredForSpecifiedNationalIncomeTaxRateOfForeignCountry" xlink:to="bidu_MinimumPaidInCapitalRequiredForSpecifiedNationalIncomeTaxRateOfForeignCountry_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_MinimumPaidInCapitalRequiredForSpecifiedNationalIncomeTaxRateOfForeignCountry_lbl" xml:lang="en-US">Minimum Paid In Capital Required For Specified National Income Tax Rate Of A Foreign Country</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_MinimumPaidInCapitalRequiredForSpecifiedNationalIncomeTaxRateOfForeignCountry_lbl" xml:lang="en-US">Minimum paid-in capital required for a specified Japan national income tax rate(in million)</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_MinimumPaidInCapitalRequiredForSpecifiedNationalIncomeTaxRateOfForeignCountry_lbl" xml:lang="en-US">Minimum Paid In Capital Required For Specified National Income Tax Rate Of A Foreign Country.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EquityMethodInvesteeChongqingRongduMember" xlink:label="bidu_EquityMethodInvesteeChongqingRongduMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EquityMethodInvesteeChongqingRongduMember" xlink:to="bidu_EquityMethodInvesteeChongqingRongduMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EquityMethodInvesteeChongqingRongduMember_lbl" xml:lang="en-US">Equity Method Investee Chongqing Rongdu [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EquityMethodInvesteeChongqingRongduMember_lbl" xml:lang="en-US">Equity Method Investee Chongqing Rongdu.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_EquityMethodInvesteeChongqingRongduMember_lbl" xml:lang="en-US">Chongqing Rongdu [Member]</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_EquityMethodInvesteeHenanFeidianMember" xlink:label="bidu_EquityMethodInvesteeHenanFeidianMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_EquityMethodInvesteeHenanFeidianMember" xlink:to="bidu_EquityMethodInvesteeHenanFeidianMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_EquityMethodInvesteeHenanFeidianMember_lbl" xml:lang="en-US">Equity Method Investee Henan Feidian [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_EquityMethodInvesteeHenanFeidianMember_lbl" xml:lang="en-US">Equity Method Investee Henan Feidian.</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_EquityMethodInvesteeHenanFeidianMember_lbl" xml:lang="en-US">Henan Feidian [Member]</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_DebtInstrumentPrincipalOutstanding" xlink:label="us-gaap_DebtInstrumentPrincipalOutstanding" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DebtInstrumentPrincipalOutstanding" xlink:to="us-gaap_DebtInstrumentPrincipalOutstanding_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DebtInstrumentPrincipalOutstanding_lbl" xml:lang="en-US">Debt Instrument Principal Outstanding</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DebtInstrumentPrincipalOutstanding_lbl" xml:lang="en-US">Principal amounts due at maturity dates</label>
    <loc xlink:type="locator" xlink:href="http://taxonomies.xbrl.us/us-gaap/2009/elts/us-gaap-2009-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:label="us-gaap_PreferredStockSharesIssued" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockSharesIssued" xlink:to="lab_PreferredStockSharesIssued" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="lab_PreferredStockSharesIssued" xml:lang="en-US">Preferred Stock, Shares Issued</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="lab_PreferredStockSharesIssued" xml:lang="en-US">Preferred Stock, Shares Issued, Total</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="lab_PreferredStockSharesIssued" xml:lang="en-US">Preferred stock, shares issued</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_MinimumRequiredPercentageOfEachOfEntitysSubsidiariesAfterTaxProfitsToAllocateToGeneralReserveFund" xlink:label="bidu_MinimumRequiredPercentageOfEachOfEntitysSubsidiariesAfterTaxProfitsToAllocateToGeneralReserveFund" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_MinimumRequiredPercentageOfEachOfEntitysSubsidiariesAfterTaxProfitsToAllocateToGeneralReserveFund" xlink:to="bidu_MinimumRequiredPercentageOfEachOfEntitysSubsidiariesAfterTaxProfitsToAllocateToGeneralReserveFund_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_MinimumRequiredPercentageOfEachOfEntitysSubsidiariesAfterTaxProfitsToAllocateToGeneralReserveFund_lbl" xml:lang="en-US">Minimum Required Percentage Of Each Of Entitys Subsidiaries After Tax Profits To Allocate To General Reserve Fund</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_MinimumRequiredPercentageOfEachOfEntitysSubsidiariesAfterTaxProfitsToAllocateToGeneralReserveFund_lbl" xml:lang="en-US">Minimum required percentage of each of the entity's PRC subsidiaries' after-tax profits to allocate to a general reserve fund</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_MinimumRequiredPercentageOfEachOfEntitysSubsidiariesAfterTaxProfitsToAllocateToGeneralReserveFund_lbl" xml:lang="en-US">Minimum required percentage of each of the Entity's PRC subsidiaries' after-tax profits to be allocated to a general reserve fund.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_MaximumRequirementOfEachOfEntitysSubsidiariesAfterTaxProfitsToBeAllocatedToGeneralReserveFundAsPercentageOfEachSubsidiariesRegisteredCapital" xlink:label="bidu_MaximumRequirementOfEachOfEntitysSubsidiariesAfterTaxProfitsToBeAllocatedToGeneralReserveFundAsPercentageOfEachSubsidiariesRegisteredCapital" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_MaximumRequirementOfEachOfEntitysSubsidiariesAfterTaxProfitsToBeAllocatedToGeneralReserveFundAsPercentageOfEachSubsidiariesRegisteredCapital" xlink:to="bidu_MaximumRequirementOfEachOfEntitysSubsidiariesAfterTaxProfitsToBeAllocatedToGeneralReserveFundAsPercentageOfEachSubsidiariesRegisteredCapital_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_MaximumRequirementOfEachOfEntitysSubsidiariesAfterTaxProfitsToBeAllocatedToGeneralReserveFundAsPercentageOfEachSubsidiariesRegisteredCapital_lbl" xml:lang="en-US">Maximum Requirement Of Each Of Entitys Subsidiaries After Tax Profits To Be Allocated To General Reserve Fund As Percentage Of Each Subsidiaries Registered Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_MaximumRequirementOfEachOfEntitysSubsidiariesAfterTaxProfitsToBeAllocatedToGeneralReserveFundAsPercentageOfEachSubsidiariesRegisteredCapital_lbl" xml:lang="en-US">Maximum requirement of each of the entity's PRC Subsidiaries' after-tax profits to be allocated to a general reserve fund as a percentage of each Subsidiaries' registered capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_MaximumRequirementOfEachOfEntitysSubsidiariesAfterTaxProfitsToBeAllocatedToGeneralReserveFundAsPercentageOfEachSubsidiariesRegisteredCapital_lbl" xml:lang="en-US">Maximum requirement of each of the Entity's PRC Subsidiaries' after-tax profits to be allocated to a general reserve fund as a percentage of each Subsidiaries' registered capital.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_MinimumRequiredPercentageOfEachOfEntitysViesAfterTaxProfitsToAllocateToStatutorySurplusFund" xlink:label="bidu_MinimumRequiredPercentageOfEachOfEntitysViesAfterTaxProfitsToAllocateToStatutorySurplusFund" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_MinimumRequiredPercentageOfEachOfEntitysViesAfterTaxProfitsToAllocateToStatutorySurplusFund" xlink:to="bidu_MinimumRequiredPercentageOfEachOfEntitysViesAfterTaxProfitsToAllocateToStatutorySurplusFund_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_MinimumRequiredPercentageOfEachOfEntitysViesAfterTaxProfitsToAllocateToStatutorySurplusFund_lbl" xml:lang="en-US">Minimum Required Percentage Of Each Of Entitys Vies After Tax Profits To Allocate To Statutory Surplus Fund</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_MinimumRequiredPercentageOfEachOfEntitysViesAfterTaxProfitsToAllocateToStatutorySurplusFund_lbl" xml:lang="en-US">Minimum required percentage of each of the entity's PRC VIEs' after-tax profits to allocate to a statutory surplus fund</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_MinimumRequiredPercentageOfEachOfEntitysViesAfterTaxProfitsToAllocateToStatutorySurplusFund_lbl" xml:lang="en-US">Minimum required percentage of each of the Entity's PRC VIEs' after-tax profits to be allocated to a statutory surplus fund.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_MaximumRequirementOfEachOfEntitysVIEsAfterTaxProfitsToBeAllocatedToStatutorySurplusFundAsPercentageOfEachVIEsRegisteredCapital" xlink:label="bidu_MaximumRequirementOfEachOfEntitysVIEsAfterTaxProfitsToBeAllocatedToStatutorySurplusFundAsPercentageOfEachVIEsRegisteredCapital" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_MaximumRequirementOfEachOfEntitysVIEsAfterTaxProfitsToBeAllocatedToStatutorySurplusFundAsPercentageOfEachVIEsRegisteredCapital" xlink:to="bidu_MaximumRequirementOfEachOfEntitysVIEsAfterTaxProfitsToBeAllocatedToStatutorySurplusFundAsPercentageOfEachVIEsRegisteredCapital_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_MaximumRequirementOfEachOfEntitysVIEsAfterTaxProfitsToBeAllocatedToStatutorySurplusFundAsPercentageOfEachVIEsRegisteredCapital_lbl" xml:lang="en-US">Maximum Requirement Of Each Of Entitys V I Es After Tax Profits To Be Allocated To Statutory Surplus Fund As Percentage Of Each V I Es Registered Capital</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_MaximumRequirementOfEachOfEntitysVIEsAfterTaxProfitsToBeAllocatedToStatutorySurplusFundAsPercentageOfEachVIEsRegisteredCapital_lbl" xml:lang="en-US">Maximum requirement of each of the entity's PRC VIEs' after-tax profits to be allocated to a statutory surplus fund as a percentage of each VIEs' registered capital</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_MaximumRequiredPercentageOfEachOfEntitysVIEsAfterTaxProfitsToAllocateToStatutoryPublicWelfareFund_lbl" xml:lang="en-US">Maximum Required Percentage Of Each Of Entitys V I Es After Tax Profits To Allocate To Statutory Public Welfare Fund</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_MaximumRequiredPercentageOfEachOfEntitysVIEsAfterTaxProfitsToAllocateToStatutoryPublicWelfareFund_lbl" xml:lang="en-US">Maximum required percentage of each of the entity's PRC VIEs' after-tax profits to allocate to a statutory public welfare fund</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodFairValue" xlink:to="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodFairValue_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodFairValue_lbl" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Fair Value</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodFairValue_lbl" xml:lang="en-US">Total fair value of shares vested during respective years</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodFairValue_lbl" xml:lang="en-US">The fair value of share-based payment equity instruments, excluding stock options, that vested during the reporting period.</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardContractualTerm" xlink:to="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardContractualTerm_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardContractualTerm_lbl" xml:lang="en-US">Share Based Compensation Arrangement By Share Based Payment Award Contractual Term</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardContractualTerm_lbl" xml:lang="en-US">Contractual term of share-based awards granted</label>
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    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_AnjukeMember" xlink:label="bidu_AnjukeMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_AnjukeMember" xlink:to="bidu_AnjukeMember_lbl" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_SpecifiedNationalIncomeTaxRateOfForeignCountry_lbl" xml:lang="en-US">A specified Japan national income tax rate</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_DepreciationOfEntitysFunctionalCurrencyUSAgainstReportingCurrencyRMBMember" xlink:to="bidu_DepreciationOfEntitysFunctionalCurrencyUSAgainstReportingCurrencyRMBMember_lbl" />
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_DepreciationOfEntitysFunctionalCurrencyUSAgainstReportingCurrencyRMBMember_lbl" xml:lang="en-US">Depreciation Of Entitys Functional Currency U S Against Reporting Currency R M B Member</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_DepreciationOfEntitysFunctionalCurrencyUSAgainstReportingCurrencyRMBMember_lbl" xml:lang="en-US">Depreciation of Entity's Functional Currency US$ Against Reporting Currency RMB [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_DepreciationOfEntitysFunctionalCurrencyUSAgainstReportingCurrencyRMBMember_lbl" xml:lang="en-US">Depreciation of entity's functional currency US$ against reporting Currency RMB</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_AppreciationOfSubsidiariesInJapansFunctionalCurrencyJPYAgainstReportingCurrencyRMBMember_lbl" xml:lang="en-US">Appreciation of Subsidiaries in Japans Functional Currency JPY Against Reporting Currency RMB [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_AppreciationOfSubsidiariesInJapansFunctionalCurrencyJPYAgainstReportingCurrencyRMBMember_lbl" xml:lang="en-US">Appreciation of subsidiaries in Japan's functional currency JPY against reporting currency RMB.</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_TransitionalEITRateMember" xlink:label="bidu_TransitionalEITRateMember" />
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="bidu_TransitionalEITRateMember" xlink:to="bidu_TransitionalEITRateMember_lbl" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_TransitionalEITRateMember_lbl" xml:lang="en-US">Transitional EIT Rate [Member]</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_TransitionalEITRateMember_lbl" xml:lang="en-US">Transitional EIT Rate member</label>
    <loc xlink:type="locator" xlink:href="bidu-20101231.xsd#bidu_MinimumRequiredPercentageOfEachOfEntitysVIEsAfterTaxProfitsToAllocateToStatutoryPublicWelfareFund" xlink:label="bidu_MinimumRequiredPercentageOfEachOfEntitysVIEsAfterTaxProfitsToAllocateToStatutoryPublicWelfareFund" />
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="bidu_MinimumRequiredPercentageOfEachOfEntitysVIEsAfterTaxProfitsToAllocateToStatutoryPublicWelfareFund_lbl" xml:lang="en-US">Minimum Required Percentage Of Each Of Entitys V I Es After Tax Profits To Allocate To Statutory Public Welfare Fund</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="bidu_MinimumRequiredPercentageOfEachOfEntitysVIEsAfterTaxProfitsToAllocateToStatutoryPublicWelfareFund_lbl" xml:lang="en-US">Minimum required percentage of each of the entity's PRC VIEs' after-tax profits to allocate to a statutory public welfare fund</label>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="bidu_MinimumRequiredPercentageOfEachOfEntitysVIEsAfterTaxProfitsToAllocateToStatutoryPublicWelfareFund_lbl" xml:lang="en-US">Minimum required percentage of each of the Entity's PRC VIEs' after-tax profits to be allocated to a statutory public welfare fund.</label>
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<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>44
<FILENAME>bidu-20101231_pre.xml
<DESCRIPTION>EX-101 PRESENTATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
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  <roleRef xlink:type="simple" xlink:href="bidu-20101231.xsd#SubsequentEvents" roleURI="http://baidu.com/role/SubsequentEvents" />
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  <roleRef xlink:type="simple" xlink:href="bidu-20101231.xsd#BalanceSheetsParentheticalUSD" roleURI="http://baidu.com/role/BalanceSheetsParentheticalUSD" />
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<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>45
<FILENAME>bidu-20101231_def.xml
<DESCRIPTION>EX-101 DEFINITION LINKBASE DOCUMENT
<TEXT>
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USD ($)

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   &lt;div style="margin-left: 0%"&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
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       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;13.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
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       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;SHAREHOLDERS&amp;#8217;
       EQUITY&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Ordinary
       shares&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Upon completion of the Company&amp;#8217;s initial public offering
       (&amp;#8220;IPO&amp;#8221;) in August 2005, 16,648,877 Class B Ordinary
       shares were issued upon conversion of all convertible preferred
       shares. In addition, immediately following the closing of the
       IPO, the Memorandum and Articles of Association were amended and
       restated such that the authorized share capital consisted of
       870,400,000 ordinary shares at a par value of US$0.00005 per
       share, of which 825,000,000&amp;#160;shares were designated as
       Class&amp;#160;A ordinary shares, 35,400,000 as Class&amp;#160;B
       ordinary shares, and 10,000,000&amp;#160;shares designated as
       preferred shares. The rights of the holders of Class&amp;#160;A and
       Class&amp;#160;B ordinary shares are identical, except with respect
       to voting and conversion rights. Each share of Class&amp;#160;A
       ordinary shares is entitled to one vote per share and is not
       convertible into Class&amp;#160;B ordinary shares under any
       circumstances. Each share of Class&amp;#160;B ordinary shares is
       entitled to ten votes per share and is convertible into one
       Class&amp;#160;A ordinary share at any time by the holder thereof.
       Upon any transfer of Class&amp;#160;B ordinary shares by the holder
       thereof to any person or entity that is not an affiliate of such
       holder, such Class&amp;#160;B ordinary shares would be automatically
       converted into an equal number of Class&amp;#160;A ordinary shares.
       There were 122,856, 419,654 and 650,000 Class&amp;#160;B ordinary
       shares transferred to Class&amp;#160;A ordinary shares in 2008, 2009
       and 2010, respectively.
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   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       As of December&amp;#160;31, 2010 there were 27,045,340 and 7,804,332
       Class&amp;#160;A and Class&amp;#160;B ordinary shares outstanding,
       respectively. As of December&amp;#160;31, 2009 and 2010, there were
       no preferred shares issued and outstanding.
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   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Comprehensive
       Income&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
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   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Comprehensive income is defined as the change in equity of the
       Company during a period from transactions and other events and
       circumstances excluding transactions resulting from investments
       by owners and distributions to owners. Comprehensive income is
       reported in the consolidated statements of shareholders&amp;#8217;
       equity. Accumulated other comprehensive income (loss) of the
       Company consists of foreign currency translation adjustments.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Retained
       earnings&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In accordance with the Regulations on Enterprises with Foreign
       Investment of China and their articles of association, the
       Company&amp;#8217;s PRC subsidiaries, being foreign invested
       enterprises established in China, are required to make
       appropriations to certain statutory reserves, namely a general
       reserve fund, an enterprise expansion fund, a
   staff welfare fund and a bonus fund, all of which are
       appropriated from net profit as reported in their PRC statutory
       accounts. Each of the Company&amp;#8217;s subsidiaries is required to
       allocate at least 10% of its after-tax profits to a general
       reserve fund until such fund has reached 50% of its respective
       registered capital. Appropriations to the enterprise expansion
       fund and staff welfare and bonus funds are at the discretion of
       the board of directors of the Company&amp;#8217;s subsidiaries.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In accordance with the China Company Laws, the Company&amp;#8217;s
       VIEs must make appropriations from their after-tax profits as
       reported in their PRC statutory accounts to non-distributable
       reserve funds, namely a statutory surplus fund, a statutory
       public welfare fund and a discretionary surplus fund. Each of
       the Company&amp;#8217;s VIEs is required to allocate at least 10% of
       its after-tax profits to the statutory surplus fund until such
       fund has reached 50% of its respective registered capital.
       Appropriation to the statutory public welfare fund is 5% to 10%
       of the after-tax profits as reported in the PRC statutory
       accounts. Effective from January&amp;#160;1, 2006, under the revised
       China Company Laws, appropriation to the statutory public
       welfare fund is no longer mandatory. Appropriations to the
       discretionary surplus fund are made at the discretion of the
       Company&amp;#8217;s VIEs.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       General reserve and statutory surplus funds are restricted to
       set-off against losses, expansion of production and operation
       and increasing registered capital of the respective company.
       Staff welfare and bonus fund and statutory public welfare funds
       are restricted to capital expenditures for the collective
       welfare of employees. The reserves are not allowed to be
       transferred to the Company in terms of cash dividends, loans or
       advances, nor are they allowed for distribution except under
       liquidation.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="65%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       PRC statutory reserve funds
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       187,675
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       238,107
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       36,077
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Unreserved retained earnings
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,252,854
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,727,590
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,019,332
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,440,529
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,965,697
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,055,409
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Under PRC laws and regulations, there are restrictions on the
       Company&amp;#8217;s PRC subsidiaries and VIEs with respect to
       transferring certain of their net assets to the Company either
       in the form of dividends, loans, or advances. Amounts restricted
       include paid up capital and statutory reserve funds of the
       Company&amp;#8217;s PRC subsidiaries and the net assets of VIEs in
       which the Company has no legal ownership, totaling approximately
       RMB879.43&amp;#160;million and RMB1.15&amp;#160;billion
       (US$174.59&amp;#160;million) as of December&amp;#160;31, 2009 and 2010,
       respectively.
   &lt;/div&gt;
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   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
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<DESCRIPTION>IDEA: Summary of Significant Accounting Policies (Details 1)
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1/1/2010 - 12/31/2010
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1/1/2010 - 12/31/2010
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1/1/2010 - 12/31/2010
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1/1/2010 - 12/31/2010
USD ($)
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/><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>No definition available.</ElementDefenition><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Finite-Lived Intangible Assets [Abstract]</Label></Row><Row><Id>12</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>The calculated weighted-average useful life of all finite-lived intangible assets.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>P5.9Y</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:durationStringItemType</ElementDataType><SimpleDataType>normalizedstring</SimpleDataType><ElementDefenition>The calculated weighted-average useful life of all finite-lived intangible assets.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Finite Lived Intangible Asset 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/><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns><Columns><Id>5</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis} : Contract-based assets [Member]
1/1/2010 - 12/31/2010
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/><Labels><Label Id="1" Label="Contract-based assets [Member]" /><Label Id="2" Label="1/1/2010 - 12/31/2010" /></Labels></Columns></OriginalInstanceReportColumns><Unit>Other</Unit><ElementDataType /><SimpleDataType>na</SimpleDataType><ElementDefenition>No definition available.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Contract-based assets [Member]</Label></Row><Row><Id>14</Id><IsAbstractGroupTitle>true</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_FiniteLivedIntangibleAssetsAbstract</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>No definition available.</ElementDefenition><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Finite-Lived Intangible Assets [Abstract]</Label></Row><Row><Id>15</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>The calculated weighted-average useful life of all finite-lived intangible assets.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>P2.3Y</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:durationStringItemType</ElementDataType><SimpleDataType>normalizedstring</SimpleDataType><ElementDefenition>The calculated weighted-average useful life of all finite-lived intangible assets.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Finite Lived Intangible Asset Weighted Average Useful Life (in years)</Label></Row><Row><Id>16</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName /><ElementPrefix>na</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>na</PeriodType><ShortDefinition>No definition 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/><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns><Columns><Id>6</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis} : Trademark [Member]
1/1/2010 - 12/31/2010
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available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>No definition available.</ElementDefenition><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Finite-Lived Intangible Assets [Abstract]</Label></Row><Row><Id>18</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>The calculated weighted-average useful life of all finite-lived intangible 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/><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:durationStringItemType</ElementDataType><SimpleDataType>normalizedstring</SimpleDataType><ElementDefenition>The calculated weighted-average useful life of all finite-lived intangible assets.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Finite Lived Intangible Asset Weighted Average Useful Life (in years)</Label></Row><Row><Id>19</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName /><ElementPrefix>na</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>na</PeriodType><ShortDefinition>No definition 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/><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns><Columns><Id>7</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis} : Land use right [Member]
1/1/2010 - 12/31/2010
</KeyName><CurrencySymbol /><contextRef><ContextID>TwelveMonthsEnded_31Dec2010_Use_Rights_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2010-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Land use right [Member]</ValueName><ValueType>us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>us-gaap_UseRightsMember</Id><dimensionId>us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="Land use right [Member]" /><Label Id="2" Label="1/1/2010 - 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</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>56
<FILENAME>R80.xml
<DESCRIPTION>IDEA: Fair Value Measurement (Details)
<TEXT>
<XBRL>
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CNY
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12/31/2009
CNY
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12/31/2010
CNY
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12/31/2009
CNY
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12/31/2010
CNY
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12/31/2009
CNY
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12/31/2010
CNY
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12/31/2009
CNY
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{us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis} : Available-for-sale Securities [Member]
12/31/2010
CNY
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12/31/2010
CNY
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12/31/2009
CNY
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{us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis} : Bank Time Deposits [Member]
12/31/2010
CNY
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{us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis} : Bank Time Deposits [Member]
12/31/2009
CNY
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{us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis} : Money Market Funds [Member]
12/31/2010
CNY
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{us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis} : Money Market Funds [Member]
12/31/2009
CNY
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{us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis} : Fixed Income Securities [Member]
12/31/2010
CNY
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{us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis} : Fixed Income Securities [Member]
12/31/2009
CNY
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{us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis} : Available-for-sale Securities [Member]
12/31/2010
CNY
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12/31/2010
CNY
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12/31/2009
CNY
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{us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis} : Bank Time Deposits [Member]
12/31/2010
CNY
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{us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis} : Bank Time Deposits [Member]
12/31/2009
CNY
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{us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis} : Money Market Funds [Member]
12/31/2010
CNY
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{us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis} : Money Market Funds [Member]
12/31/2009
CNY
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{us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis} : Fixed Income Securities [Member]
12/31/2010
CNY
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{us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis} : Fixed Income Securities [Member]
12/31/2009
CNY
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{us-gaap_FairValueOptionQuantitativeDisclosuresByEligibleItemOrGroupAxis} : Available-for-sale Securities [Member]
12/31/2010
CNY
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12/31/2010
USD ($)
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12/31/2010
CNY
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12/31/2009
USD ($)
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12/31/2009
CNY
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12/31/2010
USD ($)
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12/31/2010
CNY
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12/31/2009
USD ($)
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12/31/2009
CNY
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12/31/2010
USD ($)
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12/31/2010
CNY
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12/31/2009
USD ($)
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12/31/2009
CNY
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12/31/2010
USD ($)
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12/31/2010
CNY
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 -Name Statement of Financial Accounting Standard (FAS)
 -Number 157
 -Paragraph 32
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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 115
 -Paragraph 19

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 115
 -Paragraph 137

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 115
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 115
 -Paragraph 16

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 133
 -Paragraph 22

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</XBRL>
</TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>57
<FILENAME>R35.xml
<DESCRIPTION>IDEA: Loans Payable, Noncurrent (Tables)
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

</KeyName><CurrencySymbol>$</CurrencySymbol><contextRef><ContextID>Jan-01-2010_Dec-31-2010</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2010-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments /><Scenarios /></contextRef><UPS><UnitProperty><UnitID>USD</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>USDEPS</UnitID><UnitType>Divide</UnitType><NumeratorMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></NumeratorMeasure><DenominatorMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>shares</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></DenominatorMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>Shares</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>shares</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode>USD</CurrencyCode><OriginalCurrencyCode>USD</OriginalCurrencyCode></MCU><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2010" /></Labels></Column></Columns><Rows><Row><Id>2</Id><IsAbstractGroupTitle>true</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_LoansPayableNoncurrentTablesAbstract</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Loans Payable, Noncurrent.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Loans Payable, Noncurrent.</ElementDefenition><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Loans Payable, Noncurrent (Tables) (Abstract)</Label></Row><Row><Id>3</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesTextBlock</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>This item represents the disclosure of principal amounts due at maturity dates of long-term loans payable.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note10_table1 - bidu:LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
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   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Principal Amount&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Due Date&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       July&amp;#160;30, 2012
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       23,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,485
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       October&amp;#160;30, 2012
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       23,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,485
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       January&amp;#160;30, 2013
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       23,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,485
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       April&amp;#160;30, 2013
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       17,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,575
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       86,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13,030
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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 -Section A
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 -Publisher SEC
 -Name Regulation S-X (SX)
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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
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<SEQUENCE>59
<FILENAME>R29.xml
<DESCRIPTION>IDEA: Accounts Receivable (Tables)
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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   &lt;div align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &amp;#160;
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       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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       &lt;b&gt;2009&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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       &lt;b&gt;2010&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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       &lt;b&gt;RMB &lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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       &lt;b&gt;US$&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
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   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
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       Accounts receivable
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   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       170,625
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
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       299,123
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       45,322
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
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       Less: Allowance for doubtful accounts
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   &amp;#160;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (9,015
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (2,223
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (337
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       161,610
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       296,900
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,985
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Disclosure itemizing the various types of trade accounts and notes receivable, and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 3, 4
 -Article 5

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   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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       &lt;td width="66%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
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       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
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       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
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       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
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       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance at the beginning of the year
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,581
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,561
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,015
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,366
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Amounts charged to (credited against) costs and expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,390
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,792
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,029
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Write-offs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (2,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance at the end of the year
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,561
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,015
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,223
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       337
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
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USD ($)

USD ($) / shares

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   &lt;!-- Begin Block Tagged Note 5 - us-gaap:DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
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       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;5.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;OTHER
       ASSETS, CURRENT&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
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       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
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       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Deposits
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13,736
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       22,832
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,460
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Advances to suppliers
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,965
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,913
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,260
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Prepaid expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,026
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       33,275
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,042
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Interest receivable
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,469
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,994
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       908
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Receivables from employees
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       52,118
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,014
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,790
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Receivables from service provider
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,614
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       682
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       103
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Other
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       139
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       944
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       143
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       91,067
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       103,654
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15,706
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Note disclosure of claims held for amounts due a company. Examples include trade accounts receivables, notes receivables, loans receivables, and so forth. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>OTHER ASSETS, CURRENT</Label></Row></Rows><Footnotes /><NumberOfCols>1</NumberOfCols><NumberOfRows>2</NumberOfRows><ReportName>Other Assets, Current</ReportName><MonetaryRoundingLevel>UnKnown</MonetaryRoundingLevel><SharesRoundingLevel>UnKnown</SharesRoundingLevel><PerShareRoundingLevel>UnKnown</PerShareRoundingLevel><ExchangeRateRoundingLevel>UnKnown</ExchangeRateRoundingLevel><HasCustomUnits>false</HasCustomUnits><SharesShouldBeRounded>true</SharesShouldBeRounded></InstanceReport>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>61
<FILENAME>R10.xml
<DESCRIPTION>IDEA: Accounts Receivable
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?><InstanceReport xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xsd="http://www.w3.org/2001/XMLSchema"><Version>2.2.0.25</Version><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><ReportLongName>0204 - Disclosure - Accounts Receivable</ReportLongName><DisplayLabelColumn>true</DisplayLabelColumn><ShowElementNames>false</ShowElementNames><RoundingOption /><HasEmbeddedReports>false</HasEmbeddedReports><Columns><Column><Id>1</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode>USD</CurrencyCode><FootnoteIndexer /><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>1/1/2010 - 12/31/2010
USD ($)

USD ($) / shares

</KeyName><CurrencySymbol>$</CurrencySymbol><contextRef><ContextID>Jan-01-2010_Dec-31-2010</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2010-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments /><Scenarios /></contextRef><UPS><UnitProperty><UnitID>USD</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>USDEPS</UnitID><UnitType>Divide</UnitType><NumeratorMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></NumeratorMeasure><DenominatorMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>shares</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></DenominatorMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>Shares</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>shares</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode>USD</CurrencyCode><OriginalCurrencyCode>USD</OriginalCurrencyCode></MCU><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2010" /></Labels></Column></Columns><Rows><Row><Id>2</Id><IsAbstractGroupTitle>true</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_AccountsReceivableNetAbstract</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>No definition available.</ElementDefenition><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Accounts Receivable [Abstract]</Label></Row><Row><Id>3</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 4 - us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
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   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
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       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;4.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;ACCOUNTS
       RECEIVABLE&lt;/font&gt;&lt;/b&gt;
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   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="72%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
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       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
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   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Accounts receivable
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       170,625
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       299,123
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       45,322
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Less: Allowance for doubtful accounts
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (9,015
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (2,223
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (337
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       161,610
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       296,900
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,985
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The movements in the allowance for doubtful accounts were as
       follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="66%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="3%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance at the beginning of the year
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,581
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,561
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,015
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,366
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Amounts charged to (credited against) costs and expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,390
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,792
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,029
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Write-offs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (2,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance at the end of the year
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,561
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,015
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,223
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       337
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
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   &lt;!-- Begin Block Tagged Note</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Includes disclosure of claims held for amounts due a company. Examples include trade accounts receivables, notes receivables, loans receivables.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 08
 -Paragraph k
 -Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 3, 4
 -Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 7
 -Article 9

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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 -Name Statement of Position (SOP)
 -Number 01-6
 -Paragraph 13
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 -Publisher SEC
 -Name Staff Accounting Bulletin (SAB)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 109
 -Paragraph 289

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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 -Name Regulation S-X (SX)
 -Number 210
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 -Paragraph h
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 109
 -Paragraph 45
 -Subparagraph a

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 -Name Regulation S-X (SX)
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 -Paragraph h
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 109
 -Paragraph 45
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   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       908
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Receivables from employees
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       52,118
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,014
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,790
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Receivables from service provider
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,614
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       682
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       103
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Other
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       139
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       944
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       143
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       91,067
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       103,654
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15,706
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
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<SEQUENCE>64
<FILENAME>R54.xml
<DESCRIPTION>IDEA: Goodwill and Intangible Assets (Details)
<TEXT>
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USD ($)

USD ($) / shares

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CNY

CNY / shares

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paid, adjusted for any amortization recognized prior to adoption of FAS 142 and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
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 -Number 142
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 -Name Statement of Financial Accounting Standard (FAS)
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   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
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   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
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       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;SUMMARY
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   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Foreign
       Currency&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s functional currency is the US$. The
       Company&amp;#8217;s subsidiaries and VIEs determine their functional
       currencies based on the criteria of ASC subtopic
       &lt;font style="white-space: nowrap"&gt;830-10&lt;/font&gt;
       (&amp;#8220;ASC
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       &lt;i&gt;Foreign Currency Matters: Overall&lt;/i&gt;, and have determined
       their functional currencies to be their respective local
       currency. The Company uses the RMB as its reporting currency.
       The Company uses the average exchange rate for the year and the
       exchange rate at the balance sheet date to translate its
       operating results and financial position, respectively. Any
       translation gains (losses) are recorded in accumulated other
       comprehensive income (loss) as a component of shareholders&amp;#8217;
       equity. Transactions denominated in foreign currencies are
       translated into the functional currency at the exchange rates
       prevailing on the transaction dates. Assets and liabilities
       denominated in foreign currencies are translated into the
       functional currency at the exchange rates prevailing at the
       balance sheet date. Exchange gains and losses are included in
       the consolidated statements of income as a component of other
       income.
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       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Cash
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   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Cash and cash equivalents are stated at cost, which approximates
       fair value, and primarily consist of cash and investments in
       interest bearing demand deposit accounts, time deposits, highly
       liquid investments and money market funds. All highly liquid
       investments with original maturities of three months or less
       from the date of purchase are classified as cash equivalents.
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   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
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       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Restricted
       Cash&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
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   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Restricted cash consists of the cash balances deposited by the
       customers of the Company&amp;#8217;s
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform.
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In 2008, the Company introduced an
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform and an online payment platform which enables
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       merchants and customers to send and receive payments online.
       Cash balances deposited by the customers of the Company&amp;#8217;s
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform are considered restricted because they cannot be used
       for the operations of the Group or any other purpose not
       designated by customers. When customers fund their accounts in
   the
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform using their bank accounts, the deposited balance is
       included in the Company&amp;#8217;s bank account until customers
       either use the cash to settle their online transactions or
       withdraw the cash.
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   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Investments&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Short-Term
       Investments&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       All highly liquid investments with original maturities of
       greater than three months, but less than 12&amp;#160;months, are
       classified as short-term investments which are stated at their
       approximate fair value. The Company accounts for short-term
       investments in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;320-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;320-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Investments&amp;#160;&amp;#8212; Debt and Equity Securities: Overall.
       &lt;/i&gt;The Company classifies the short-term investments in debt
       and equity securities as
       &lt;font style="white-space: nowrap"&gt;&amp;#8220;held-to-maturity&amp;#8221;,&lt;/font&gt;
       &amp;#8220;trading&amp;#8221; or
       &lt;font style="white-space: nowrap"&gt;&amp;#8220;available-for-sale&amp;#8221;,&lt;/font&gt;
       whose classification determines the respective accounting
       methods stipulated by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;320-10.&lt;/font&gt;
       Dividend and interest income, including amortization of the
       premium and discount arising at acquisition, for all categories
       of investments in securities are included in earnings. Any
       realized gains or losses on the sale of the short-term
       investments are determined on a specific identification method,
       and such gains and losses are reflected in the consolidated
       statements of income.
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The securities that the Company has positive intent and ability
       to hold to maturity are classified as
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities and stated at amortized cost. For individual
       securities classified as
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities, the Company evaluates whether a decline in fair
       value below the amortized cost basis is other than temporary in
       accordance with the Company&amp;#8217;s policy and
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;320-10.&lt;/font&gt;
       If the Company concludes that it does not intend or is not
       required to sell an impaired debt security before the recovery
       of its amortized cost basis, the impairment is considered
       temporary and the
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities continue to be recognized at the amortized costs.
       When the Company intends to sell an impaired debt security or it
       is more likely than not that it will be required to sell prior
       to recovery of its amortized cost basis, an
       &lt;font style="white-space: nowrap"&gt;other-than-temporary&lt;/font&gt;
       impairment is deemed to have occurred. In these instances, the
       &lt;font style="white-space: nowrap"&gt;other-than-temporary&lt;/font&gt;
       impairment loss is recognized in the consolidated statements of
       income equal to the entire excess of the debt security&amp;#8217;s
       amortized cost basis over its fair value at the balance sheet
       date of the reporting period for which the assessment is made.
       When the Company does not intend to sell an impaired debt
       security and it is more likely than not that it will not be
       required to sell prior to recovery of its amortized cost basis,
       the Company must determine whether or not it will recover its
       amortized cost basis. If the Company concludes that it will not,
       an
       &lt;font style="white-space: nowrap"&gt;other-than-temporary&lt;/font&gt;
       impairment exists and that portion of the credit loss is
       recognized in the consolidated statements of income, while the
       portion of loss related to all other factors is recognized in
       other comprehensive income.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The securities that are bought and held principally for the
       purpose of selling them in the near term are classified as
       trading securities. Unrealized holding gains and losses for
       trading securities are included in earnings.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Investments not classified as trading or as
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       are classified as
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities.
       &lt;font style="white-space: nowrap"&gt;Available-for-sale&lt;/font&gt;
       investment is reported at fair value, with unrealized gains and
       losses recorded in accumulated other comprehensive income in
       shareholders&amp;#8217; equity. Realized gains or losses are charged
       to earnings during the period in which the gain or loss is
       realized. An impairment loss on the
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       debt securities would be recognized in the consolidated
       statements of income when the decline in value is determined to
       be
       &lt;font style="white-space: nowrap"&gt;other-than-temporary.&lt;/font&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Long-term
       Investments&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s long-term investments consist of cost method
       investments, equity method investments and
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;325-20&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;325-20&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Investments-Other: Cost Method Investments&lt;/i&gt;, for
       investments in an investee over which the Company does not have
       significant influence, the Company carries the investment at
       cost and only adjusts for
       &lt;font style="white-space: nowrap"&gt;other-than-temporary&lt;/font&gt;
       declines in fair value and distributions of earnings. The
   management regularly evaluates the impairment of the cost method
       investments based on performance and financial position of the
       investee as well as other evidence of market value. Such
       evaluation includes, but is not limited to, reviewing the
       investee&amp;#8217;s cash position, recent financing, projected and
       historical financial performance, cash flow forecasts and
       financing needs. An impairment loss is recognized in the
       consolidated statements of income equal to the excess of the
       investment&amp;#8217;s cost over its fair value at the balance sheet
       date of the reporting period for which the assessment is made.
       The fair value would then become the new cost basis of
       investment.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Investments in entities in which the Company can exercise
       significant influence but does not own a majority equity
       interest or control are accounted for using the equity method of
       accounting in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;323-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;323-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Investments-Equity Method and Joint Ventures: Overall&lt;/i&gt;.
       Under the equity method, the Company initially records its
       investment at cost and adjusts the carrying amount of the
       investment to recognize the Company&amp;#8217;s proportionate share
       of each equity investee&amp;#8217;s net income or loss into
       consolidated statements of income after the date of acquisition.
       The difference between the cost of the equity investee and the
       amount of the underlying equity in the net assets of the equity
       investee is recognized as equity method goodwill included in
       equity method investment on the consolidated balance sheets. The
       Company evaluates the equity method investments for impairment
       under
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;323-10.&lt;/font&gt;
       An impairment loss on the equity method investments is
       recognized in the consolidated statements of income when the
       decline in value is determined to be
       &lt;font style="white-space: nowrap"&gt;other-than-temporary.&lt;/font&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s long-term investments in
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities are the investments which are neither classified as
       cost method investments nor equity method investments. In
       accordance with
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;320-10,&lt;/font&gt;
       &lt;i&gt;Investments&amp;#160;&amp;#8212; Debt and Equity Securities: Overall,
       &lt;/i&gt;&lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities are reported at fair value, with unrealized gains and
       losses recorded in accumulated other comprehensive income in
       shareholders&amp;#8217; equity. Realized gains or losses are charged
       to earnings during the period in which the gain or loss is
       realized.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Fair
       Value Measurements of Financial Instruments&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Financial instruments include cash and cash equivalents,
       short-term investments, accounts receivable, accounts payable
       and accrued liabilities, customer advances and deposits,
       deferred revenue, deferred income and loans payable. The
       carrying amounts of these financial instruments except for loans
       payable approximate fair value because of their generally short
       maturities. The carrying amount of loans payable approximates
       its fair value due to the fact that the related interest rates
       are reset each year based on prevailing market interest rates.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Research,
       Development, and Computer Software&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Capitalization
       of Software Developed for Internal Use&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company has capitalized certain internal use software
       development costs in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;350-40&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;350-40&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Intangibles-Goodwill and Other: Internal-Use Software&lt;/i&gt;,
       amounting to RMB19.49&amp;#160;million, RMB12.59&amp;#160;million and
       RMB10.38&amp;#160;million (US$1.57&amp;#160;million) for the years ended
       December&amp;#160;31, 2008, 2009 and 2010, respectively. The Company
       capitalizes certain costs relating to software acquired,
       developed, or modified solely to meet the Company&amp;#8217;s
       internal requirements and for which there are no substantive
       plans to market the software. These costs mainly include payroll
       and payroll-related costs for employees who are directly
       associated with and who devote time to the internal-use software
       projects during the application development stage. Capitalized
       internal-use software costs are included in fixed assets, net.
       The amortization expense for capitalized software costs amounted
       to RMB3.44&amp;#160;million, RMB9.77&amp;#160;million and
       RMB8.86&amp;#160;million (US$1.34&amp;#160;million) for the years ended
       December&amp;#160;31, 2008, 2009 and 2010, respectively. The
       unamortized amount of capitalized internal use software
       development costs was RMB26.16&amp;#160;million and
       RMB15.28&amp;#160;million (US$2.32&amp;#160;million) as of
       December&amp;#160;31, 2009 and 2010, respectively.
   &lt;/div&gt;
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   &lt;/div&gt;
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   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Research
       and Development Expenses&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Research and development expenses consist primarily of
       personnel-related costs. The Company has expensed substantially
       all development costs included in the research and development
       of products and new functionality added to the existing products
       as incurred, except for certain internal-use software and
       certain core technologies with alternative future uses.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Fixed
       Assets&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Fixed assets are stated at cost less accumulated depreciation.
       Depreciation or amortization is recorded on a straight-line
       basis over the shorter of the estimated useful lives of the
       assets or the term of the related lease, as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="66%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="32%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=maindata --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 45&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building related facility, machinery and equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 15&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Computer equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
       &amp;#8212; 3 or 5&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Internal use software development costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 3&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
       &amp;#8212; 3 or 5&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vehicles
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Leasehold improvements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -13pt; margin-left: 13pt"&gt;
       &amp;#8212; over the shorter of lease terms or estimated useful lives
       of the assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Fixed assets have no estimated residual value except for the
       office building and its related facility, machinery and
       equipment, which have an estimated residual value of 4% of the
       cost.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Repair and maintenance costs are charged to expense as incurred,
       whereas the cost of renewals and betterments that extend the
       useful life of fixed assets are capitalized as additions to the
       related assets. Retirements, sales and disposals of assets are
       recorded by removing the cost and accumulated depreciation from
       the asset and accumulated depreciation accounts with any
       resulting gain or loss reflected in the consolidated statements
       of income.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       All direct and indirect costs that are related to the
       construction of fixed assets and incurred before the assets are
       ready for their intended use are capitalized as construction in
       progress. Construction in progress is transferred to specific
       fixed assets items and depreciation of these assets commences
       when they are ready for their intended use.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Goodwill
       and Intangible Assets&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Goodwill
       &lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Goodwill represents the excess of the purchase price over the
       fair value of the identifiable net assets acquired in a business
       combination. The Company assesses goodwill for impairment in
       accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;350-20&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;350-20&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Intangibles&amp;#160;&amp;#8212; Goodwill and Other: Goodwill&lt;/i&gt;,
       which requires that goodwill be tested for impairment at the
       reporting unit level at least annually and more frequently upon
       the occurrence of certain events, as defined by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;350-20.&lt;/font&gt;
       Baidu&amp;#8217;s chief operating decision maker only reviews the
       Company&amp;#8217;s discrete financials at its consolidated level and
       there are no segment managers who are held accountable by the
       Company&amp;#8217;s chief operating officer or anyone else, for
       operations, operating results, and planning for levels or
       components below the consolidated level. Accordingly, consistent
       with the management&amp;#8217;s operational perspective, the Company
       determines that it has only one reporting unit. Goodwill was
       tested for impairment in the annual impairment tests on December
       31 in each year using the two-step process required by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;350-20.&lt;/font&gt;
       First, the Company reviewed the carrying amount of the reporting
       unit compared to the &amp;#8220;fair value&amp;#8221; of the reporting
       unit based on quoted market prices of the ordinary shares. If
       the fair value of the reporting unit exceeds the carrying value
       of the reporting unit, goodwill is not impaired and the Company
       is not required to perform further testing. If the carrying
       value of the
   reporting unit exceeds the fair value of the reporting unit,
       then the Company must perform the second step of the impairment
       test in order to determine the implied fair value of the
       reporting unit&amp;#8217;s goodwill. That is, the Company would then
       prepare the discounted cash flow analyses. Such analyses are
       based on cash flow assumptions that are consistent with the
       plans and estimates being used to manage the business. An excess
       carrying value compared to fair value would indicate that
       goodwill may be impaired. Finally, if the Company determined
       that goodwill may be impaired, the implied fair value of the
       goodwill, as defined by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;350-20,&lt;/font&gt;
       would be compared to its carrying amount to determine the
       impairment loss, if any. There has been no impairment of
       goodwill in any of the years presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Intangible
       Assets &lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Intangible assets with finite lives are carried at cost less
       accumulated amortization. The land use right is amortized using
       a straight-line method over the shorter of its estimated
       economic life or the term of related land use right contract.
       All other intangible assets with finite lives are amortized
       using the straight-line method over the estimated economic life.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Intangible assets have weighted average useful lives from the
       date of purchase as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="87%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="11%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=maindata --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5.0&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customer relationships
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 4.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-competition agreements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 3.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Software
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Contract-based assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 2.3&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 9.6&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Land use right
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
       &amp;#8212; 50&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Intangible assets with an indefinite useful life are not
       amortized. There have been no impairment charges on the
       Company&amp;#8217;s intangible assets with finite useful lives in any
       of the years presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       If the intangible assets that are not being amortized are
       subsequently determined to have a finite useful life, the assets
       will be tested for impairment in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;350-30&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;350-30&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Intangibles-Goodwill and Other: General Intangibles Other
       than Goodwill&lt;/i&gt;, and then amortized prospectively over their
       estimated remaining useful lives and accounted for in the same
       manner as other intangible assets that are subject to
       amortization. Intangible assets with indefinite useful lives are
       tested for impairment annually or more frequently if events or
       changes in circumstances indicate that they might be impaired.
       There have been no impairment charges on the Company&amp;#8217;s
       intangible assets with indefinite useful lives in any of the
       years presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Impairment
       of Long-Lived Assets Other Than Goodwill&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company evaluates long-lived assets, such as fixed assets
       and purchased or internally developed intangible assets with
       finite lives, for impairment whenever events or changes in
       circumstances indicate the carrying value of an asset may not be
       recoverable in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;360-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;360-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Property, Plant and Equipment: Overall&lt;/i&gt;. When such events
       occur, the Company assesses the recoverability of the assets
       group based on the undiscounted future cash flow the assets
       group is expected to generate and recognizes an impairment loss
       when estimated undiscounted future cash flow expected to result
       from the use of the assets group plus net proceeds expected from
       disposition of the assets group, if any, is less than the
       carrying value of the assets group. If the Company identifies an
       impairment, the Company reduces the carrying amount of the
       assets group to its estimated fair value based on a discounted
       cash flow approach or, when available and appropriate, to
       comparable market values. The Company uses estimates and
       judgments in its impairment tests and if different estimates or
       judgments had been utilized, the timing or the amount of any
       impairment charges could be different. Asset groups to be
       disposed of would be reported at the lower of the carrying
       amount or fair value less costs to sell, and no longer
   depreciated. The assets and liabilities of a disposal group
       classified as held for sale would be presented separately in the
       appropriate asset and liability sections of the balance sheet.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Accounts
       Receivable&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Accounts receivable are recognized and carried at original
       invoiced amount less an allowance for any potential
       uncollectible amounts. An estimate for doubtful debts is made
       when collection of the full amount is no longer probable. Bad
       debts are written off as incurred. The Company generally does
       not require collateral from its customers.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company maintains allowances for doubtful accounts for
       estimated losses resulting from the failure of customers to make
       payments on time. The Company reviews the accounts receivable on
       a periodic basis and makes general and specific allowances when
       there is doubt as to the collectibility of individual balances.
       In evaluating the collectibility of individual receivable
       balances, the Company considers many factors, including the age
       of the balance, the customer&amp;#8217;s historical payment history,
       its current credit-worthiness and current economic trends.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Revenue
       Recognition&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company recognizes revenue based on the following principles:
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Online
       marketing services&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (1)&amp;#160;Auction-based
       &lt;font style="white-space: nowrap"&gt;pay-for-performance&lt;/font&gt;
       service
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s auction-based
       &lt;font style="white-space: nowrap"&gt;pay-for-performance&lt;/font&gt;
       (&amp;#8220;P4P&amp;#8221;) platform enables a customer to place its
       website link and related description on the Company&amp;#8217;s
       search result list. The customers make bids on keywords based on
       how much they are willing to pay for each click to their
       listings in the search results listed on the Company&amp;#8217;s
       website and the relevance between the keywords and the
       customer&amp;#8217;s businesses. Internet users&amp;#8217; search of the
       keyword will trigger the display of the listings. The ranking of
       the customer&amp;#8217;s listing depends on both the bidding price
       and the listing&amp;#8217;s relevance to the keyword searched.
       Customer pays the Company only when a user clicks on one of its
       website links. Revenue is recognized when a user clicks on one
       of the customer-sponsored website links, as there is persuasive
       evidence of an arrangement, the fee is fixed or determinable and
       collection is reasonably assured, as prescribed by ASC subtopic
       &lt;font style="white-space: nowrap"&gt;605-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue Recognition: Overall&lt;/i&gt;.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For certain P4P customers engaged through direct sales, the
       Company may provide certain value-added consultative support
       services to help its customers to better utilize its P4P online
       marketing system. Fees for such services are recognized as
       revenue on a pro-rata basis over the contracted service period.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (2)&amp;#160;Other performance-based online marketing services
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       To the extent the Company provides online marketing services
       based on performance criteria other than click-throughs, such as
       the number of telephone calls brought to its customers, the
       number of users registered with its customers, or the number of
       minimum click-throughs, revenue is recognized when the specified
       performance criteria are met together with satisfaction of other
       applicable revenue recognition criteria as prescribed by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;605-10.&lt;/font&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (3)&amp;#160;Time-based online advertising services
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For time-based online advertising services such as text links,
       banners, or other forms of graphical advertisements, the Company
       recognizes revenue, in accordance with
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;605-10,&lt;/font&gt;
       on a pro-rata basis over the contractual term commencing on the
       date the customer&amp;#8217;s advertisement is displayed in a
       specified webpage. For certain time-based contractual
       agreements, the Company may also provide certain performance
       guarantees, in which cases revenue is recognized at the later of
       the completion of the time commitment or performance guarantee.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (4)&amp;#160;Online marketing services involving Baidu Union
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Baidu Union is the program through which the Company expands
       distribution of its customers&amp;#8217; sponsored links or
       advertisements by leveraging traffic of the Baidu Union
       members&amp;#8217; internet properties. The Company makes payments to
       Baidu Union members for acquisition of traffic. The Company
       recognizes gross revenue for the amount of fees it receives from
       its customers. Payments made to Baidu Union members are included
       in cost of revenues as traffic acquisition costs.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (5)&amp;#160;Barter transactions
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company engages in barter transactions from time to time and
       in such situations follows the guidance set forth in ASC
       subtopic
       &lt;font style="white-space: nowrap"&gt;845-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;845-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Nonmonetary Transactions: Overall&lt;/i&gt;. While nonmonetary
       transactions are generally recorded at fair value, if such value
       is not determinable within reasonable limits, the transaction is
       recognized based on the carrying value of the product or
       services provided. The amount of revenues recognized for barter
       transactions was insignificant for each of the periods presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In addition, the Company recognized revenues for barter
       transactions involving advertising in accordance with ASC
       subtopic
       &lt;font style="white-space: nowrap"&gt;605-20&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-20&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue recognition: Services&lt;/i&gt;. However, neither the
       amount recognized nor the volume of such transactions qualified
       for income recognition was material for any of the periods
       presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In certain instances, the Company may be granted equity
       instruments in exchange for services. In accordance with ASC
       subtopic
       &lt;font style="white-space: nowrap"&gt;505-50&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;505-50&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Equity: Equity-based Payments to Non-Employees&lt;/i&gt;, if the
       Company provides services in exchange for equity instruments,
       the Company measures the fair value of those equity instruments
       for revenue recognition purposes as of the earlier of either of
       the following dates:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="4%"&gt;&lt;/td&gt;
       &lt;td width="2%"&gt;&lt;/td&gt;
       &lt;td width="94%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       The date the parties come to a mutual understanding of the terms
       of the equity-based compensation arrangement and a commitment
       for performance by the Company to earn the equity instruments is
       reached;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 6pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       The date at which the Company&amp;#8217;s performance necessary to
       earn the equity instruments is completed.
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       If, as of the measurement date, the fair value of the equity
       instruments received is not determinable within reasonable
       limits, the transaction is recognized based on the fair value of
       the services provided. If the fair value of both the equity
       instruments received and the services provided cannot be
       determined, no revenue is recognized for the services provided
       and the equity instrument received is recorded at zero carrying
       value. The amount of revenues recognized for such transactions
       was insignificant in each of the years presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (6)&amp;#160;Other revenue recognition related policies
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       If a sales arrangement involves multiple deliverables, and the
       arrangement is divided into separate units of accounting in
       accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;605-25&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-25&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue recognition: Multiple-Element Arrangements&lt;/i&gt;, the
       total revenue on such arrangement is allocated to the individual
       deliverables based on their relative fair values. If sufficient
       vendor-specific objective evidence of fair value does not exist
       for the allocation of revenue, the fee for the entire
       arrangement is recognized ratably over the term of the
       arrangement or upon the delivery of the last deliverable, when
       other revenue recognition criteria have been met.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company delivers some of its online marketing services to
       end customers through engaging third party distributors. In this
       context, the Company may provide cash incentives to
       distributors. The cash incentives are accounted for as reduction
       of revenue in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;605-50&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-50&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue recognition: Customer Payments and Incentives&lt;/i&gt;.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company provides sales incentives to customers to entitle
       customers to receive reductions in the price of the online
       marketing services by meeting certain cumulative consumption
       requirements. The Company accounts for these award credits
       granted to members in conjunction with a current sale of
       products or services as a multiple-element arrangement by
       analogizing to ASC
       &lt;font style="white-space: nowrap"&gt;605-25.&lt;/font&gt; The
       consideration allocated to the award credits, as deferred
       revenue is based on an assumption that the customer will
       purchase the minimum amount of future service necessary
   to obtain the maximum award credits available. The deferred
       revenue is recognized as revenue proportionately as the future
       services are delivered to the customer or when the loyalty
       points expire.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Cash received in advance from customers is recorded as customer
       advances and deposits. The unused cash balances remaining in
       customers&amp;#8217; accounts are included as a liability of the
       Company. Deferred revenue is recorded when services are provided
       before the other revenue recognition criteria set forth in
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;605-10&lt;/font&gt;
       are fulfilled.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company operates an online game platform, on which
       registered users could access games provided by online game
       developers. The rights and obligations of each party to the
       arrangement indicate that the Company is acting as an agent
       whereas the online game developer is the principal as a result
       of being the primary obligor in the arrangement. The Company
       recognizes the shared revenue, on a net basis, based on the
       ratios pre-determined with the online game developers when all
       the revenue recognition criteria set forth in
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;605-10&lt;/font&gt;
       are met, which is generally when the user purchases virtual
       currencies issued by the game developers through the
       Company&amp;#8217;s payment channel. The amount of revenues
       recognized was not significant in each of the years presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Cost
       of Revenues&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Cost of revenues consists primarily of business taxes and
       surcharges, traffic acquisition costs, bandwidth costs,
       depreciation, payroll and related costs of operations.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company incurs business taxes and surcharges in connection
       with the provision of online marketing services, technical and
       consultative service fees charged by Baidu Online to VIEs and
       other taxable services in the PRC. According to ASC subtopic
       &lt;font style="white-space: nowrap"&gt;605-45&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-45&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue Recognition: Principal Agent Considerations&lt;/i&gt;, the
       Company includes the business tax and surcharges incurred on its
       online marketing revenues in cost of revenues. The business tax
       and surcharges in cost of revenues for the years ended
       December&amp;#160;31, 2008, 2009 and 2010 were
       RMB200.09&amp;#160;million, RMB275.92&amp;#160;million and
       RMB504.85&amp;#160;million (US$76.49&amp;#160;million), respectively.
       Traffic acquisition costs represent the amounts paid or payable
       to Baidu Union members who direct search queries to the
       Company&amp;#8217;s websites or distribute the Company&amp;#8217;s
       customers&amp;#8217; paid links through their properties. These
       payments are primarily based on revenue sharing arrangements
       under which the Company pays its Baidu Union members a
       percentage of the fees it earns from its online marketing
       customers.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Advertising
       Expenses&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Advertising expenses, primarily advertisements through various
       forms of media, are included in &amp;#8220;Selling, general and
       administrative expense&amp;#8221; in the consolidated statements of
       income and are expensed when incurred. Advertising expenses for
       the years ended December&amp;#160;31, 2008, 2009 and 2010 were
       RMB29.22&amp;#160;million, RMB77.80&amp;#160;million and
       RMB74.76&amp;#160;million (US$11.33&amp;#160;million), respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Other
       Income, net&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Other income, net consists primarily of interest income,
       government subsidies, impairment of long-term investments and
       non-operating expenses. Interest income is mainly generated from
       bank deposits and other interest-earning financial assets and is
       recognized on an accrual basis. Other income, net primarily
       consists of financial subsidies received from provincial and
       local governments for operating a business in their
       jurisdictions and compliance with specific policies promoted by
       the local governments. During the years ended December&amp;#160;31,
       2008, 2009 and 2010, the Group received financial subsidies of
       RMB22.72&amp;#160;million, RMB42.50&amp;#160;million and
       RMB49.14&amp;#160;million (US$7.45&amp;#160;million), respectively, from
       various local PRC government authorities. There are no defined
       rules and regulations to govern the criteria necessary for
       companies to receive such benefits, and the amount of financial
       subsidy is determined at the discretion of the relevant
       government authorities. Such amounts are recorded as other
       income when received and there are no further conditions to be
       met before recognition.
   &lt;/div&gt;
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   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
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   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Leases&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Leases have been classified as either capital or operating
       leases. Leases that transfer substantially all the benefits and
       risks incidental to the ownership of assets are accounted for as
       if there was an acquisition of an asset and incurrence of an
       obligation at the inception of the lease. All other leases are
       accounted for as operating leases wherein rental payments are
       expensed as incurred. The Company had no capital leases for the
       years ended December&amp;#160;31, 2008, 2009 and 2010.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Income
       Taxes&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company recognizes income taxes under the liability method.
       Deferred income taxes are recognized for differences between the
       financial reporting and tax bases of assets and liabilities at
       enacted tax rates in effect for the years in which the
       differences are expected to reverse. The Company records a
       valuation allowance against the amount of deferred tax assets
       that it determines is not more likely than not being realized.
       The effect on deferred taxes of a change in tax rates is
       recognized in income in the period that includes the enactment
       date.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company adopted the provisions of ASC subtopic
       &lt;font style="white-space: nowrap"&gt;740-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;740-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Income Taxes: Overall&lt;/i&gt;, on January&amp;#160;1, 2007.
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;740-10&lt;/font&gt;
       clarified the accounting for uncertainty in income taxes by
       prescribing the recognition threshold a tax position is required
       to meet before being recognized in the financial statements. The
       Company has elected to classify interest and penalties related
       to an uncertain tax position (if and when required) as part of
       income tax expense in the consolidated statements of income. As
       of and for the years ended December&amp;#160;31, 2008, 2009 and
       2010, no unrecognized tax benefits or interest and penalties
       associated with uncertainty in income taxes have been recognized.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Share-based
       Compensation&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company adopted ASC subtopic
       &lt;font style="white-space: nowrap"&gt;718-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;718-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Compensation-Stock Compensation: Overall&lt;/i&gt;, using the
       modified prospective transition approach from January&amp;#160;1,
       2006. Pursuant to ASC
       &lt;font style="white-space: nowrap"&gt;718-10,&lt;/font&gt; the
       Company recognized share-based compensation expense over the
       requisite service periods for any share-based awards granted
       after January&amp;#160;1, 2006 based on the fair values of all
       share-based awards on the dates of grant.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company has elected to recognize share-based compensation
       after the date of adoption of
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;718-10&lt;/font&gt;
       using the straight-line method for all share-based awards
       issued. Forfeitures have been estimated based on historical
       experience and periodically reviewed. Cancellation of an award
       accompanied by the concurrent grant of a replacement award is
       accounted for as a modification of the terms of the cancelled
       award (&amp;#8220;modification awards&amp;#8221;). The compensation costs
       associated with the modification awards are recognized if either
       the original vesting condition or the new vesting condition has
       been achieved. Such compensation costs cannot be less than the
       grant-date fair value of the original award. The incremental
       compensation cost is measured as the excess of the fair value of
       the replacement award over the fair value of the cancelled award
       at the cancellation date. Therefore, in relation to the
       modification awards, the Company recognizes share-based
       compensation over the vesting periods of the new options, which
       comprises, (1)&amp;#160;the amortization of the incremental portion
       of share-based compensation over the remaining vesting term and
       (2)&amp;#160;any unrecognized compensation cost of original award,
       using either the original term or the new term, whichever is
       higher for each reporting period.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company accounts for share awards issued to non-employees in
       accordance with the provisions of ASC subtopic
       &lt;font style="white-space: nowrap"&gt;505-50&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;505-50&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Equity: Equity-based Payments to Non-Employees&lt;/i&gt;. Under ASC
       &lt;font style="white-space: nowrap"&gt;505-50,&lt;/font&gt; the
       Company uses the Black-Scholes option pricing model method to
       measure the value of options granted to non-employees at each
       vesting date to determine the appropriate charge to share-based
       compensation.
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;718-10&lt;/font&gt;
       also requires share-based compensation to be presented in the
       same manner as cash compensation rather than as a separate line
       item.
   &lt;/div&gt;
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   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Earnings
       Per Share (&amp;#8220;EPS&amp;#8221;)&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company computes earnings per Class&amp;#160;A and Class&amp;#160;B
       ordinary shares in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;260-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;260-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Earnings Per Share: Overall&lt;/i&gt;, using the two class method.
       Under the provisions of
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;260-10,&lt;/font&gt;
       basic net income per share is computed using the weighted
       average number of ordinary shares outstanding during the period
       except that it does not include unvested ordinary shares subject
       to repurchase or cancellation. Diluted net income per share is
       computed using the weighted average number of ordinary shares
       and, if dilutive, potential ordinary shares outstanding during
       the period. Potentially dilutive securities have been excluded
       from the computation of diluted net income per share if their
       inclusion is anti-dilutive. Potential ordinary shares consist of
       the incremental ordinary shares issuable upon the exercise of
       stock options, restricted shares subject to forfeiture, and
       contracts that may be settled in the Company&amp;#8217;s stock or
       cash. The dilutive effect of outstanding stock options and
       restricted shares is reflected in diluted earnings per share by
       application of the treasury stock method. The computation of the
       diluted net income per share of Class&amp;#160;A ordinary shares
       assumes the conversion of Class&amp;#160;B ordinary shares, while
       the diluted net income per share of Class&amp;#160;B ordinary shares
       does not assume the conversion of those shares.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The liquidation and dividend rights of the holders of the
       Company&amp;#8217;s Class&amp;#160;A and Class&amp;#160;B ordinary shares are
       identical, except with respect to voting. As a result, and in
       accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;260-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;260-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Earnings Per Share: Overall&lt;/i&gt;, the undistributed earnings
       for each year are allocated based on the contractual
       participation rights of the Class A and Class&amp;#160;B ordinary
       shares as if the earnings for the year had been distributed. As
       the liquidation and dividend rights are identical, the
       undistributed earnings are allocated on a proportionate basis.
       Further, as the conversion of Class&amp;#160;B ordinary shares is
       assumed in the computation of the diluted net income per share
       of Class&amp;#160;A ordinary shares, the undistributed earnings are
       equal to net income for that computation.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For the purposes of calculating the Company&amp;#8217;s basic and
       diluted earnings per Class&amp;#160;A and Class B ordinary shares,
       the ordinary shares relating to the options that were exercised
       are assumed to have been outstanding from the date of exercise
       of such options.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Concentration
       of Risks&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Concentration
       of credit risk&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Financial instruments that potentially subject the Company to
       significant concentration of credit risk primarily consist of
       cash and cash equivalents, restricted cash, short-term
       investments and accounts receivable. The Company has
       RMB8.20&amp;#160;billion (US$1.24&amp;#160;billion) in cash and cash
       equivalents, restricted cash and short-term investments. The
       Company has approximately RMB8.06&amp;#160;billion
       (US$1.22&amp;#160;billion) in cash, bank deposits and money market
       funds in the PRC, which constitute about 98.29% of total cash
       and cash equivalents and short-term investments. In the event of
       bankruptcy of one of the financial institutions in which the
       Company has deposits or investments, it may be unlikely to claim
       its deposits or investments back in full.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Accounts receivable are typically unsecured and derived from
       revenue earned from customers and agents in China, which are
       exposed to credit risk. The risk is mitigated by credit
       evaluations the Company performs on its customers and its
       ongoing monitoring process of outstanding balances. The Company
       maintains reserves for estimated credit losses and these losses
       have generally been within its expectations.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Business
       and economic risks&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company participates in a dynamic high technology industry
       and believes that changes in any of the following areas could
       have a material adverse effect on the Company&amp;#8217;s future
       financial position, results of operations or cash flows: changes
       in the overall demand for services and products; changes in
       business offerings; competitive pressures due to new entrants;
       advances and new trends in new technologies and industry
       standards; changes in bandwidth suppliers; changes in certain
       strategic relationships or customer relationships; regulatory
   considerations; copyright regulations; and risks associated with
       the Company&amp;#8217;s ability to attract and retain employees
       necessary to support its growth.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       No customer or any Baidu Union member generated greater than 10%
       of total revenues in any of the periods presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s operations could be adversely affected by
       significant political, economic and social uncertainties in the
       PRC.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Currency
       convertibility risk&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Substantially all of the Company&amp;#8217;s businesses are
       transacted in RMB, which is not freely convertible into foreign
       currencies. All foreign exchange transactions take place either
       through the People&amp;#8217;s Bank of China or other banks
       authorized to buy and sell foreign currencies at the exchange
       rates quoted by the People&amp;#8217;s Bank of China. Approval of
       foreign currency payments by the People&amp;#8217;s Bank of China or
       other regulatory institutions requires submitting a payment
       application form together with suppliers&amp;#8217; invoices,
       shipping documents and signed contracts.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Foreign
       currency exchange rate risk &lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s exposure to foreign currency exchange rate
       risk primarily relates to cash and cash equivalents and
       short-term investments denominated in the U.S.&amp;#160;dollar. The
       functional currency of the Company is US$, and the reporting
       currency is RMB. Since July&amp;#160;21, 2005, the RMB has been
       permitted to fluctuate within a narrow and managed band against
       a basket of certain foreign currencies. On June&amp;#160;19, 2010,
       the People&amp;#8217;s Bank of China announced the end of the
       RMB&amp;#8217;s de facto peg to US$, a policy which was instituted in
       late 2008 in the face of the global financial crisis, to further
       reform the RMB exchange rate regime and to enhance the
       RMB&amp;#8217;s exchange rate flexibility. The exchange rate floating
       bands will remain the same as previously announced in the
       inter-bank foreign exchange market. The depreciation of the US$
       against RMB was approximately 3.31% in 2010. Any significant
       revaluation of RMB may materially and adversely affect the
       Company&amp;#8217;s cash flows, revenues, earnings and financial
       position, and the value of, and any dividends payable on, the
       ADS in U.S.&amp;#160;dollars. As a result, an appreciation of RMB
       against the U.S.&amp;#160;dollar would result in foreign currency
       translation losses when translating the net assets of the
       Company from the U.S.&amp;#160;dollar into RMB.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The functional currency of the subsidiaries in Japan is Japanese
       Yen (&amp;#8220;JPY&amp;#8221;), and the reporting currency is RMB. During
       2010, JPY appreciated by approximately 10.23% against RMB. The
       appreciation of JPY against RMB results in foreign currency
       translation gains when translating the net assets into RMB.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For the years ended December&amp;#160;31, 2008, 2009 and 2010, the
       net foreign currency translation loss resulting from the
       translation from the respective functional currencies to the RMB
       reporting currency recorded in the Company&amp;#8217;s other
       comprehensive loss was RMB27.60&amp;#160;million,
       RMB3.96&amp;#160;million and RMB3.87&amp;#160;million
       (US$0.59&amp;#160;million), respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Recent
       Accounting Pronouncements&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In October 2009, the FASB issued ASU
       &lt;font style="white-space: nowrap"&gt;No.&amp;#160;2009-13&lt;/font&gt;
       (&amp;#8220;ASU
       &lt;font style="white-space: nowrap"&gt;2009-13&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Multiple-Deliverable Revenue Arrangements&lt;/i&gt;. ASU
       &lt;font style="white-space: nowrap"&gt;2009-13&lt;/font&gt;
       amends ASC
       &lt;font style="white-space: nowrap"&gt;sub-topic&lt;/font&gt;
       &lt;font style="white-space: nowrap"&gt;605-25&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-25&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue Recognition: Multiple-Element Arrangements&lt;/i&gt;,
       regarding revenue arrangements with multiple deliverables. This
       standard addresses how to determine whether an arrangement
       involving multiple deliverables contains more than one unit of
       accounting, and how the arrangement consideration should be
       allocated among the separate units of accounting. This standard
       establishes a selling price hierarchy for determining the
       selling price of a deliverable, which is based on:
       (a)&amp;#160;vendor-specific objective evidence;
       (b)&amp;#160;third-party evidence; or (c)&amp;#160;estimated selling
       price. This standard also eliminates the residual method of
       allocation and requires that arrangement consideration be
       allocated at the inception of the arrangement to all
       deliverables using the relative selling price method. In
       addition, this standard significantly expands required
       disclosures related to a vendor&amp;#8217;s multiple-deliverable
       revenue arrangements. This standard is
   effective for fiscal years beginning after June&amp;#160;15, 2010
       and to be applied retrospectively or prospectively for new or
       materially modified arrangements. In addition, early adoption is
       permitted. The Company will adopt ASU
       &lt;font style="white-space: nowrap"&gt;2009-13&lt;/font&gt;
       beginning January&amp;#160;1, 2011 and the Company is in the process
       of assessing the impact of the adoption of the standard on its
       consolidated financial statements.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In April 2010, the FASB issued ASU
       &lt;font style="white-space: nowrap"&gt;No.&amp;#160;2010-13&lt;/font&gt;
       (&amp;#8220;ASU
       &lt;font style="white-space: nowrap"&gt;2010-13&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Compensation-Stock Compensation (&amp;#8220;&lt;/i&gt;ASC 718&amp;#8221;):
       &lt;i&gt;Effect of Denominating the Exercise Price of a Share-Based
       Payment Award in the Currency of the Market in Which the
       Underlying Equity Security Trades&lt;/i&gt;. The objective of this
       standard is to address the classification of an employee
       share-based payment award with an exercise price dominated in
       the currency of a market in which the underlying equity security
       trades. ASC&amp;#160;718 provides guidance on the classification of
       a share-based payment award as either equity or liability. A
       share-based payment award that contains a condition that is not
       a market, performance, or service condition is required to be
       classified as a liability. ASU
       &lt;font style="white-space: nowrap"&gt;2010-13&lt;/font&gt;
       provide amendments to ASC&amp;#160;718 to clarify that an employee
       share-based payment award with an exercise price denominated in
       the currency of a market in which a substantial portion of the
       entity&amp;#8217;s equity securities trades should not be considered
       to contain a condition that is not a market, performance, or
       service condition. Therefore, an entity would not classify such
       an award as a liability if it otherwise qualifies as equity.
       Then amendments in this standard are effective for fiscal years,
       and interim periods within those fiscal years, beginning on or
       after December&amp;#160;31, 2010. Early application is permitted.
       The Company does not expect the adoption of ASU
       &lt;font style="white-space: nowrap"&gt;2010-13&lt;/font&gt; will
       have a material impact on its consolidated financial statements.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In December 2010, the FASB issued ASU
       &lt;font style="white-space: nowrap"&gt;No.&amp;#160;2010-28&lt;/font&gt;
       (&amp;#8220;ASU
       &lt;font style="white-space: nowrap"&gt;2010-28&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Intangibles&amp;#160;&amp;#8212; Goodwill and Other &lt;/i&gt;(&amp;#8220;ASC
       350&amp;#8221;): &lt;i&gt;When to Perform Step 2 of the Goodwill Impairment
       Test for Reporting Units with Zero or Negative Carrying
       Amounts&lt;/i&gt;. The objective of this standard is to address
       questions about entities with reporting units with zero or
       negative carrying amounts because some entities concluded that
       Step 1 of the test is passed in those circumstances because the
       fair value of their reporting unit will generally be greater
       than zero. The amendments in this standard modify Step 1 of the
       goodwill impairment test for reporting units with zero or
       negative carrying amounts. For those reporting units, an entity
       is required to perform Step 2 of the goodwill impairment test if
       it is more likely than not that a goodwill impairment exists.
       This standard is effective for fiscal years, and interim periods
       within those years, beginning after December&amp;#160;15, 2010.
       Early adoption is not permitted. The Company does not expect the
       adoption of ASU
       &lt;font style="white-space: nowrap"&gt;2010-28&lt;/font&gt; will
       have a material impact on its consolidated financial statements.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In December 2010, the FASB issued ASU
       &lt;font style="white-space: nowrap"&gt;No.&amp;#160;2010-29&lt;/font&gt;
       (&amp;#8220;ASU
       &lt;font style="white-space: nowrap"&gt;2010-29&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Disclosure of Supplementary Pro Forma Information for
       Business Combinations &lt;/i&gt;(&amp;#8220;ASC 805&amp;#8221;). The objective
       of this standard is to address diversity in practice about the
       interpretation of the pro forma revenue and earnings disclosure
       requirements for business combinations. This standard specifies
       that if a public entity presents comparative financial
       statements, the entity should disclose revenue and earnings of
       the combined entity as though the business combination(s) that
       occurred during the current year had occurred as of the
       beginning of the comparable prior annual reporting period only.
       This standard also expands the supplemental pro forma
       disclosures under ASC&amp;#160;805 to include a description of the
       nature and amount of material, nonrecurring pro forma
       adjustments directly attributable to the business combination
       included in the reported pro forma revenue and earnings. This
       standard is effective prospectively for business combinations
       for which the acquisition date is on or after the beginning of
       the first annual reporting period beginning on or after
       December&amp;#160;15, 2010. Early adoption is permitted. The Company
       does not expect the adoption of ASU
       &lt;font style="white-space: nowrap"&gt;2010-29&lt;/font&gt; will
       have a material impact on its consolidated financial statements.
   &lt;/div&gt;
   &lt;/div&gt;
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USD ($)

USD ($) / shares

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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
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       2011
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       259,927
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       39,383
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2012
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       171,275
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,951
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2013
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       151,748
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       22,992
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2014
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       111,659
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       16,918
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2015
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       75,457
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       11,433
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Thereafter
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       79,749
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,083
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       849,815
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       128,760
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 13
 -Paragraph 16
 -Subparagraph b, c, d

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USD ($)

USD ($) / shares

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   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note18_table1 - us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock--&gt;
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   &lt;td colspan="10" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Fair Value Measurement at December&amp;#160;31, 2009 Using&lt;/b&gt;
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   &amp;#160;
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   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Quoted Prices in&lt;br /&gt;
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       &lt;b&gt;Significant Other&lt;br /&gt;
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   &amp;#160;
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   &amp;#160;
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       &lt;b&gt;Significant&lt;br /&gt;
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   &amp;#160;
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   &amp;#160;
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   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Active Markets for&lt;br /&gt;
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       &lt;b&gt;Observable&lt;br /&gt;
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   &amp;#160;
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   &amp;#160;
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       &lt;b&gt;Unobservable&lt;br /&gt;
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   &amp;#160;
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   &amp;#160;
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   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Identical Assets&lt;br /&gt;
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       &lt;b&gt;Inputs&lt;br /&gt;
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   &amp;#160;
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   &amp;#160;
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       &lt;b&gt;Inputs&lt;br /&gt;
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   &amp;#160;
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   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Total Fair Value at&lt;br /&gt;
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   &amp;#160;
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       &lt;b&gt;(Level 1)&lt;/b&gt;
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       &lt;b&gt;(Level 2)&lt;/b&gt;
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       &lt;b&gt;(Level 3)&lt;/b&gt;
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   &amp;#160;
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   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31, 2009&lt;/b&gt;
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       &lt;b&gt;(RMB)&lt;/b&gt;
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       &lt;b&gt;(RMB)&lt;/b&gt;
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       &lt;b&gt;(RMB)&lt;/b&gt;
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       &lt;b&gt;(RMB)&lt;/b&gt;
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       &lt;b&gt;(US$)&lt;/b&gt;
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   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Cash equivalents:&lt;/b&gt;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Time deposits
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,658,678
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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       1,658,678
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       251,315
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Money market fund
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       234,782
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       234,782
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       35,573
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Short-term investments:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Held-to-maturity&lt;/font&gt;
       securities
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Fixed-rate investments
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,893,460
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,274,963
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       344,691
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
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   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="34%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="12%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="11%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
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       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=hang1 --&gt;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Fair Value Measurement at December&amp;#160;31, 2010 Using&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Quoted Prices in&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant Other&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Active Markets for&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Observable&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unobservable&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Identical Assets&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Inputs&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Inputs&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Total Fair Value at&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 1)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 2)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 3)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31, 2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(US$)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Cash equivalents:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Time deposits
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,905,479
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,905,479
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       591,739
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Money market fund
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       993,047
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       993,047
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       150,461
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Short-term investments:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Held-to-maturity&lt;/font&gt;
       securities
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Fixed-rate investments
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       56,854
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Long-term investments&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Available-for-sale&lt;/font&gt;
       securities
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,760
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,898,526
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,298,574
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       802,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>This element represents the disclosure related to assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 157
 -Paragraph 32

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 157
 -Paragraph 6
 -Footnote 4

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   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note18_table2 - us-gaap:FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="84%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="3%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant Unobservable Inputs &lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 3)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(US$)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance at December&amp;#160;31, 2009
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Purchases
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,760
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Change in unrealized gain (loss) included in other comprehensive
       income
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance at December&amp;#160;31, 2010
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,760
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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 -Paragraph 1
 -Article 5

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 -Paragraph 38
 -Subparagraph b(1)

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CNY

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CNY

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/><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>21210000</NumericAmount><RoundedNumericAmount>21210000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>140000000</NumericAmount><RoundedNumericAmount>140000000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer 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without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 129
 -Paragraph 2, 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 19, 22
 -Article 5

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Specific amount up to which borrowings can be made under the commitment of an unsecured bank loan</Label></Row><Row><Id>5</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_LongTermLoansPayable</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>instant</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>terselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>13030000</NumericAmount><RoundedNumericAmount>13030000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>86000000</NumericAmount><RoundedNumericAmount>86000000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>5</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Carrying value as of the balance sheet date of loans payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 22
 -Article 5

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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 22
 -Article 5

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<TEXT>
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USD ($)

USD ($) / shares

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CNY

CNY / shares

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CNY

CNY / shares

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CNY

CNY / shares

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1/1/2010 - 12/31/2010
CNY

CNY / shares
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1/1/2010 - 12/31/2010
USD ($)

USD ($) / shares
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1/1/2009 - 12/31/2009
CNY / shares

CNY

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1/1/2008 - 12/31/2008
CNY

CNY / shares
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1/1/2010 - 12/31/2010
CNY

CNY / shares
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1/1/2010 - 12/31/2010
USD ($)

USD ($) / shares
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1/1/2009 - 12/31/2009
CNY / shares

CNY
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1/1/2008 - 12/31/2008
CNY

CNY / shares
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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
 -Paragraph 11, 12

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
 -Paragraph 171

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
 -Paragraph 40
 -Subparagraph a

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
 -Paragraph 8

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
 -Paragraph 20

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
 -Paragraph 40
 -Subparagraph a

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
 -Paragraph 8

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Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle, if longer).</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Distributors' deposits</Label></Row><Row><Id>8</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_PurchaseOfFixedAssetsPayableCurrent</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>instant</PeriodType><ShortDefinition>Carrying value as of the balance sheet date of obligations payable to vendors for purchase of fixed assets that are used in...</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>42071000</NumericAmount><RoundedNumericAmount>42071</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>277669000</NumericAmount><RoundedNumericAmount>277669</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>144214000</NumericAmount><RoundedNumericAmount>144214</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Carrying value as of the balance sheet date of obligations payable to vendors for purchase of fixed assets that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle, if longer).</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Purchase of fixed assets</Label></Row><Row><Id>9</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_TrafficAcquisitionCosts</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>instant</PeriodType><ShortDefinition>Carrying value as of the balance sheet date of obligations payable to the entity's union members for acquisition of traffic....</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>20282000</NumericAmount><RoundedNumericAmount>20282</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>133864000</NumericAmount><RoundedNumericAmount>133864</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>109305000</NumericAmount><RoundedNumericAmount>109305</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Carrying value as of the balance sheet date of obligations payable to the entity's union members for acquisition of traffic. The entity's union is the program through which the entity expands distribution of its customers sponsored links or advertisements by leveraging traffic of  the entity's union members internet properties or distributing the entitys customers paid links through union members properties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Traffic acquisition costs</Label></Row><Row><Id>10</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_BandwidthCosts</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>instant</PeriodType><ShortDefinition>Carrying value as of the balance sheet date of obligations incurred and payable to telecommunication operators for their...</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>5225000</NumericAmount><RoundedNumericAmount>5225</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>34488000</NumericAmount><RoundedNumericAmount>34488</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>16417000</NumericAmount><RoundedNumericAmount>16417</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Carrying value as of the balance sheet date of obligations incurred and payable to telecommunication operators for their telecommunication services and for hosting our servers at their Internet data centers. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Bandwidth Costs</Label></Row><Row><Id>11</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_AccruedProfessionalFeesCurrent</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>instant</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>3930000</NumericAmount><RoundedNumericAmount>3930</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>25937000</NumericAmount><RoundedNumericAmount>25937</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>19420000</NumericAmount><RoundedNumericAmount>19420</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Carrying value as of the balance sheet date of obligations incurred through that date and payable for professional fees, such as for legal and accounting services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 20
 -Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 43
 -Chapter 3
 -Section A
 -Paragraph 7, 8

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The deposits are considered restricted because they cannot be used for the operations of the entity or any other purpose not designated by consumers. When consumers fund their accounts in entity's online payment platform using their bank accounts, the deposited balance is included in the entity's bank account until customers either use the cash to settle their online transactions or withdraw the cash.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Customers' deposits on e-commerce platform</Label></Row><Row><Id>13</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_AccountsPayableAndAccruedLiabilitiesOtherCurrent</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>instant</PeriodType><ShortDefinition>Aggregate carrying amount, as of the balance sheet date, of current accounts payable and accrued liabilities not separately...</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>totallabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>8676000</NumericAmount><RoundedNumericAmount>8676</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>57264000</NumericAmount><RoundedNumericAmount>57264</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>30990000</NumericAmount><RoundedNumericAmount>30990</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Aggregate carrying amount, as of the balance sheet date, of current accounts payable and accrued liabilities not separately disclosed in the balance sheet due to materiality considerations. 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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 19, 20
 -Article 5

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</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>72
<FILENAME>R22.xml
<DESCRIPTION>IDEA: Related Party Transactions
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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<SEQUENCE>73
<FILENAME>R74.xml
<DESCRIPTION>IDEA: Share-Based Awards Plan (Details)
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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CNY

CNY / shares

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USD ($)

USD ($) / shares

</KeyName><CurrencySymbol>$</CurrencySymbol><contextRef><ContextID>Jan-01-2010_Dec-31-2010</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2010-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments /><Scenarios /></contextRef><UPS><UnitProperty><UnitID>USD</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>USDEPS</UnitID><UnitType>Divide</UnitType><NumeratorMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></NumeratorMeasure><DenominatorMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>shares</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></DenominatorMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>Shares</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>shares</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode>USD</CurrencyCode><OriginalCurrencyCode>USD</OriginalCurrencyCode></MCU><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2010" /></Labels></Column></Columns><Rows><Row><Id>2</Id><IsAbstractGroupTitle>true</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_FixedAssetsTablesAbstract</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Fixed Assets.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Fixed Assets.</ElementDefenition><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Fixed Assets (Tables) [Abstract]</Label></Row><Row><Id>3</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_PropertyPlantAndEquipmentTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
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   &lt;div align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
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   &lt;!-- TableOutputBody --&gt;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Computer equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,128,844
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,956,642
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       296,461
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       363,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       391,895
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       59,378
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building related facility, machinery and equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       118,844
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       137,542
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       20,840
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Internal-use software development costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,925
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       37,022
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,609
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vehicles
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,020
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,829
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,035
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,687
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       82,431
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,490
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Leasehold improvements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       31,118
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       74,793
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       11,332
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Construction in progress
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15,637
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,797
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,242
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,764,273
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,701,951
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       409,387
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Less: Accumulated depreciation
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (766,716
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,079,539
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (163,567
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       997,557
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,622,412
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       245,820
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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/><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>For each income statement presented, the amount charged to expense for amortization of capitalized computer software costs.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Implementation Guide (Q and A)
 -Number FAS86
 -Paragraph 18

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 86
 -Paragraph 11
 -Subparagraph b

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/><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>5</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>6</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Amount charged to advertising expense for the period, which are expenses incurred with the objective of increasing revenue for a specified brand, product or product line.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Statement of Position (SOP)
 -Number 93-7

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 -Name Statement of Financial Accounting Standard (FAS)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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 -Name Accounting Research Bulletin (ARB)
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 -Paragraph 38
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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 -Name Statement of Financial Accounting Standard (FAS)
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1/1/2010 - 12/31/2010
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1/1/2010 - 12/31/2010
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1/1/2010 - 12/31/2010
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1/1/2010 - 12/31/2010
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Examples include land and improvements, buildings, and production equipment.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Property Plant and Equipment, Useful life (in years)</Label></Row><Row><Id>25</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName /><ElementPrefix>na</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>na</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>true</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>http://baidu.com/role/summaryofsignificantaccountingpoliciesdetails</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns><Columns><Id>7</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{us-gaap_PropertyPlantAndEquipmentByTypeAxis} : Leasehold Improvements [Member]
1/1/2010 - 12/31/2010
</KeyName><CurrencySymbol /><contextRef><ContextID>TwelveMonthsEnded_31Dec2010_Leasehold_Improvements_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2010-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Leasehold Improvements [Member]</ValueName><ValueType>us-gaap_PropertyPlantAndEquipmentByTypeAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>us-gaap_LeaseholdImprovementsMember</Id><dimensionId>us-gaap_PropertyPlantAndEquipmentByTypeAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS /><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="Leasehold Improvements [Member]" /><Label Id="2" Label="1/1/2010 - 12/31/2010" /></Labels></Columns></OriginalInstanceReportColumns><Unit>Other</Unit><ElementDataType /><SimpleDataType>na</SimpleDataType><ElementDefenition>No definition available.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Leasehold Improvements [Member]</Label></Row><Row><Id>26</Id><IsAbstractGroupTitle>true</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_PropertyPlantAndEquipmentUsefulLifeAbstract</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Property Plant and Equipment Useful Life.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Property Plant and Equipment Useful Life.</ElementDefenition><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Property Plant and Equipment Useful Life</Label></Row><Row><Id>27</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>over the shorter of lease terms or estimated useful lives of the assets</NonNumbericText><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes the periods of time over which an entity anticipates to receive utility from its property, plant and equipment (that is, the periods of time over which an entity allocates the initial cost of its property, plant and equipment).</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Property Plant and Equipment, Useful life (in years)</Label></Row><Row><Id>29</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName /><ElementPrefix>na</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>na</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>true</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>http://baidu.com/role/summaryofsignificantaccountingpoliciesdetails</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns><Columns><Id>8</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{us-gaap_PropertyPlantAndEquipmentByTypeAxis} : Office Building Office Building Related Facility And Machinery And Equipment Member
1/1/2010 - 12/31/2010
</KeyName><CurrencySymbol /><contextRef><ContextID>TwelveMonthsEnded_31Dec2010_Office_Building_Office_Building_Related_Facility_And_Machinery_And_Equipment_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2010-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Office Building, Office Building Related Facility and Machinery and Equipment 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/></Labels></Columns></OriginalInstanceReportColumns><Unit>Other</Unit><ElementDataType /><SimpleDataType>na</SimpleDataType><ElementDefenition>No definition available.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Office Building, Office Building Related Facility and Machinery and Equipment [Member]</Label></Row><Row><Id>31</Id><IsAbstractGroupTitle>true</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_SummaryOfSignificantAccountingPoliciesTextualAbstract</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Summary Of Significant Accounting Policies.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Summary Of Significant Accounting Policies.</ElementDefenition><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Summary of Significant Accounting Policies (Textuals) [Abstract]</Label></Row><Row><Id>32</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_RateUsedToDetermineSomePropertyPlantAndEquipmentsEstimatedResidualValue</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>An estimated rate of the cost used to determine estimated residual value of some property,plant and equipments.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.04</NumericAmount><RoundedNumericAmount>0.04</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:percentItemType</ElementDataType><SimpleDataType>pure</SimpleDataType><ElementDefenition>An estimated rate of the cost used to determine estimated residual value of some property,plant and equipments.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Rate Used To Determine Some Property Plant And Equipments Estimated Residual Value</Label></Row><Row><Id>33</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName /><ElementPrefix>na</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>na</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>true</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>http://baidu.com/role/summaryofsignificantaccountingpoliciesdetails</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer 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1/1/2010 - 12/31/2010
USD ($)
</KeyName><CurrencySymbol>$</CurrencySymbol><contextRef><ContextID>TwelveMonthsEnded_31Dec2010_Computer_Equipment_Internal_Use_Software_Development_Costs_Vehicles_Office_Equipment_And_Leasehold_Improvements_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2010-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Computer Equipment, Internal Use Software Development Costs, Vehicles, Office Equipment, and Leasehold Improvements [Member]</ValueName><ValueType>us-gaap_PropertyPlantAndEquipmentByTypeAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_ComputerEquipmentInternalUseSoftwareDevelopmentCostsVehiclesOfficeEquipmentAndLeaseholdImprovementsMember</Id><dimensionId>us-gaap_PropertyPlantAndEquipmentByTypeAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>USD</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode>USD</CurrencyCode><OriginalCurrencyCode>USD</OriginalCurrencyCode></MCU><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="Computer Equipment, Internal Use Software Development Costs, Vehicles, Office Equipment, and Leasehold Improvements [Member]" /><Label Id="2" Label="1/1/2010 - 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</XBRL>
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<SEQUENCE>77
<FILENAME>R73.xml
<DESCRIPTION>IDEA: Earnings Per Share (Details 2)
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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CNY

CNY / shares

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CNY

CNY / shares

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CNY

CNY / shares

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{bidu_EarningPerShareAdsAxis} : Earning Per Share ADS [Member]
1/1/2010 - 12/31/2010
USD ($) / shares
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{bidu_EarningPerShareAdsAxis} : Earning Per Share ADS [Member]
1/1/2010 - 12/31/2010
CNY / shares
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{bidu_EarningPerShareAdsAxis} : Earning Per Share ADS [Member]
1/1/2009 - 12/31/2009
CNY / shares

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{bidu_EarningPerShareAdsAxis} : Earning Per Share ADS [Member]
1/1/2008 - 12/31/2008
CNY / shares
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1/1/2010 - 12/31/2010
CNY

CNY / shares
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1/1/2010 - 12/31/2010
USD ($)

USD ($) / shares
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1/1/2009 - 12/31/2009
CNY / shares

CNY

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1/1/2008 - 12/31/2008
CNY

CNY / shares
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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
 -Paragraph 171

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
 -Paragraph 40
 -Subparagraph a

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
 -Paragraph 8

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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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representing Class A ordinary shares, which is...</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol 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/><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>5</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>one ADS for one share</NonNumbericText><NonNumericTextHeader>one ADS for one share</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>6</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol 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American depositary shares ("ADSs") representing Class A ordinary shares, which is effective from the time of the entity's IPO to May 11, 2010.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Previous Ratio of ADS-to-Class A Ordinary Share</Label></Row><Row><Id>12</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_CurrentRatioOfAdsToClassaOrdinaryShare</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>instant</PeriodType><ShortDefinition>The current ratio of the entity's American depositary shares ("ADSs") representing Class A ordinary shares, which is...</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol 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share</NonNumbericText><NonNumericTextHeader>ten ADSs for one share</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>6</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol 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/><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>13</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>The current ratio of the entity's American depositary shares ("ADSs") representing Class A ordinary shares, which is effective from May 12, 2010 to Dec. 31, 2010.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Current Ratio of ADS-to-Class A Ordinary Share</Label></Row><Row><Id>13</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_SplitWhoseEffectIsSameWithChangeOfAdsToClassaOrdinaryShareRatio</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>instant</PeriodType><ShortDefinition>The split whose effect is the same with the entity's change of the ADS to Class A ordinary share ratio.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol 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split</NonNumbericText><NonNumericTextHeader>ten-for-one ADS split</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>6</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol 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</XBRL>
</TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>78
<FILENAME>R49.xml
<DESCRIPTION>IDEA: Investments (Details Textual 1)
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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CNY

CNY / shares

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CNY / shares

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12/31/2010
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12/31/2010
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12/31/2010
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12/31/2010
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12/31/2010
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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 115
 -Paragraph 16

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<SEQUENCE>79
<FILENAME>R53.xml
<DESCRIPTION>IDEA: Fixed Assets (Details Textual)
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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CNY / shares

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CNY / shares

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<DOCUMENT>
<TYPE>XML
<SEQUENCE>80
<FILENAME>R18.xml
<DESCRIPTION>IDEA: Commitments and Contingencies
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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       The Company&amp;#8217;s capital commitments relate primarily to
       expenditures on computer equipment and the consideration in
       relation to a business combination that will be closed in 2011.
       Total capital commitments contracted but not yet reflected in
       the financial statements amounted to RMB168.40&amp;#160;million
       (US$25.52&amp;#160;million) at December&amp;#160;31, 2010. All of these
       capital commitments are to be fulfilled within the next year.
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       The Company leases facilities in the PRC under non-cancelable
       operating leases expiring on different dates. Payments under
       operating leases are expensed on a straight-line basis over the
       periods of the respective leases. Total rental expense under all
       operating leases was RMB68.86&amp;#160;million,
       RMB84.43&amp;#160;million and RMB76.87&amp;#160;million
       (US$11.65&amp;#160;million) for the years ended December&amp;#160;31,
       2008, 2009 and 2010, respectively.
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Future minimum payments under non-cancelable operating leases
       with initial terms of one-year or more consist of the following
       at December&amp;#160;31, 2010:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="81%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2011
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       259,927
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       39,383
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2012
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       171,275
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,951
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2013
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       151,748
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       22,992
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2014
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       111,659
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       16,918
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2015
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       75,457
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       11,433
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Thereafter
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       79,749
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,083
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       849,815
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       128,760
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Guarantees&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company accounts for guarantees in accordance with ASC
       subtopic
       &lt;font style="white-space: nowrap"&gt;460-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;460-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Guarantees: Overall&lt;/i&gt;. Accordingly, the Company evaluates
       its guarantees to determine whether (a)&amp;#160;the guarantee is
       specifically excluded from the scope of
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;460-10,&lt;/font&gt;
       (b)&amp;#160;the guarantee is subject to
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;460-10&lt;/font&gt;
       disclosure requirements only, but not subject to the initial
       recognition and measurement provisions, or (c)&amp;#160;the
       guarantee is required to be recorded in the financial statements
       at fair value.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The corporate by-laws require that the Company indemnify its
       officers and directors, as well as those who act as directors
       and officers of other entities at the Company&amp;#8217;s request,
       against expenses, judgments, fines, settlements and other
       amounts actually and reasonably incurred in connection with any
       proceedings arising out of their services to the Company. In
       addition, the Company has entered into separate indemnification
       agreements with each director and each executive officer of the
       Company that provide for indemnification of these directors and
       officers under similar circumstances and under additional
       circumstances. The indemnification obligations are more fully
       described in the by-laws and the indemnification agreements. The
       Company purchases standard directors and officers insurance to
       cover claims or a portion of the claims made against its
       directors and officers. Since a maximum obligation is not
       explicitly stated in the Company&amp;#8217;s by-laws or in the
       indemnification agreements and will depend on the facts and
       circumstances that arise out of any future claims, the overall
       maximum amount of the obligations cannot be reasonably estimated.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Historically, the Company has not been required to make payments
       related to these obligations, and the fair value for these
       obligations is zero in the consolidated balance sheets as of
       December&amp;#160;31, 2009 and 2010.
   &lt;/div&gt;
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   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Baidu Online has unconditionally guaranteed the repayment of
       RMB-denominated bank loans from Export-Import Bank of China and
       related interest and fees of Baidu Netcom. The guarantees
       continue until the loans, including accrued interest and fees,
       have been repaid in full. These guarantees expire in 2012. The
       maximum exposure to the Company under this commitment is
       RMB140.00&amp;#160;million (US$21.21&amp;#160;million) as of
       December&amp;#160;31, 2010 and is limited to the sum of unpaid
       principal and interest, as well as other related expenses.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Litigation&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Baidu Netcom, Baidu China, Baidu Online and Baidu Times were
       involved in certain cases pending in various PRC courts and
       arbitration as of December&amp;#160;31, 2010. These cases include
       copyright infringement cases, unfair competition cases, and
       defamation cases, among others. Adverse results in these
       lawsuits may include awards of damages and may also result in,
       or even compel, a change in the Company&amp;#8217;s business
       practices, which could result in a loss of revenue or otherwise
       harm the business of the Company.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       As of December&amp;#160;31, 2010, the plaintiffs claimed
       compensation of RMB132.95&amp;#160;million (US$20.14&amp;#160;million).
       Although the results of litigation and claims cannot be
       predicted with certainty, the Company does not expect the
       outcome of the matters discussed above will result in a material
       adverse effect on its business, consolidated financial position,
       results of operations or cash flows.
   &lt;/div&gt;
   &lt;/div&gt;
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USD ($)

USD ($) / shares

</KeyName><CurrencySymbol>$</CurrencySymbol><contextRef><ContextID>Jan-01-2010_Dec-31-2010</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2010-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments /><Scenarios /></contextRef><UPS><UnitProperty><UnitID>USD</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>USDEPS</UnitID><UnitType>Divide</UnitType><NumeratorMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></NumeratorMeasure><DenominatorMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>shares</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></DenominatorMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>Shares</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>shares</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode>USD</CurrencyCode><OriginalCurrencyCode>USD</OriginalCurrencyCode></MCU><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2010" /></Labels></Column></Columns><Rows><Row><Id>2</Id><IsAbstractGroupTitle>true</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_GoodwillAndIntangibleAssetsTablesAbstract</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Goodwill And Intangible Assets.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Goodwill And Intangible Assets.</ElementDefenition><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Goodwill and Intangible Assets (Tables) [Abstract]</Label></Row><Row><Id>3</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_ScheduleOfGoodwillTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
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   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
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   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance as of January 1
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       51,082
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       63,691
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,650
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Goodwill acquired
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,609
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Foreign currency translation adjustment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (5
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance as of December 31
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       63,691
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       63,686
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,649
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
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   &lt;/div&gt;
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   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
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   &lt;/b&gt;
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   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
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   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
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   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="68%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
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       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
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   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;As of December&amp;#160;31, 2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Net&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Accumulated&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Amortization&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Finite-lived:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Land use right
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       97,611
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (5,043
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       92,568
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,825
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (14,567
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       258
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customer relationships
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       31,363
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (21,165
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-competition agreements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,115
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (936
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       179
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Software
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,616
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Contract-based assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       338
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (226
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       112
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,727
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (55
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,672
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       155,793
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (43,608
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       112,185
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Indefinite-lived:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,050
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,050
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       166,203
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (43,608
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       122,595
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="58%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;As of December&amp;#160;31, 2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Net&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Net&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Accumulated&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Amortization&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Finite-lived:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Land use right
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       97,611
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,995
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       90,616
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13,730
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,860
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (14,774
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       86
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customer relationships
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       31,408
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (26,870
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,538
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       687
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-competition agreements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,115
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,062
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       53
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Software
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,131
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (3,572
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,559
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,297
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Contract-based assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       338
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (281
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,727
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (248
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,479
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       224
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       159,190
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (53,802
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       105,388
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15,968
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Indefinite-lived:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,418
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,050
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,050
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       159
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,577
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       169,600
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (53,802
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       115,798
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       17,545
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
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   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
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   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
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   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 142
 -Paragraph  44, 45, 46

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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="3" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td colspan="3" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;US$&lt;/b&gt;
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   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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       &lt;b&gt;(In thousands)&lt;/b&gt;
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   &lt;td&gt;&amp;#160;
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   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       For the year ending December&amp;#160;31,
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   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;tr valign="bottom"&gt;
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       2011
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   &amp;#160;
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   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,944
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   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,204
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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       2012
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,455
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       827
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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       2013
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   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,488
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       680
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
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       2014
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,166
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       480
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
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       2015
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,815
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       427
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 144
 -Paragraph 26
 -Subparagraph b

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 144
 -Paragraph 7, 25

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 -Paragraph 7
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
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<SEQUENCE>83
<FILENAME>R67.xml
<DESCRIPTION>IDEA: Employee Defined Contribution Plan (Details)
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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CNY

CNY / shares

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CNY

CNY / shares

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CNY

CNY / shares

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/><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>218880000</NumericAmount><RoundedNumericAmount>218.88</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>141840000</NumericAmount><RoundedNumericAmount>141.84</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader 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</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>84
<FILENAME>R57.xml
<DESCRIPTION>IDEA: Goodwill and Intangible Assets (Details Textuals)
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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CNY

CNY / shares

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CNY

CNY / shares

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CNY

CNY / shares

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charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. 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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 142
 -Paragraph 45
 -Subparagraph a(2)

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</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>85
<FILENAME>R12.xml
<DESCRIPTION>IDEA: Fixed Assets
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       363,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       391,895
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       59,378
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building related facility, machinery and equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       118,844
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       137,542
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       20,840
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Internal-use software development costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,925
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       37,022
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,609
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vehicles
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,020
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,829
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,035
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,687
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       82,431
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,490
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Leasehold improvements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       31,118
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       74,793
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       11,332
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Construction in progress
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15,637
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,797
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,242
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,764,273
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,701,951
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       409,387
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Less: Accumulated depreciation
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (766,716
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,079,539
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (163,567
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       997,557
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,622,412
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       245,820
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Depreciation expense was RMB259.64&amp;#160;million,
       RMB285.20&amp;#160;million and RMB380.89&amp;#160;million
       (US$57.71&amp;#160;million) for the years ended December&amp;#160;31,
       2008, 2009 and 2010, respectively.
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Disclosure of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, building and production equipment. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. This element may be used as a single block of text to include the entire PPE disclosure, including data and tables.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 5

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>FIXED ASSETS</Label></Row></Rows><Footnotes /><NumberOfCols>1</NumberOfCols><NumberOfRows>2</NumberOfRows><ReportName>Fixed Assets</ReportName><MonetaryRoundingLevel>UnKnown</MonetaryRoundingLevel><SharesRoundingLevel>UnKnown</SharesRoundingLevel><PerShareRoundingLevel>UnKnown</PerShareRoundingLevel><ExchangeRateRoundingLevel>UnKnown</ExchangeRateRoundingLevel><HasCustomUnits>false</HasCustomUnits><SharesShouldBeRounded>true</SharesShouldBeRounded></InstanceReport>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>86
<FILENAME>R3.xml
<DESCRIPTION>IDEA: Consolidated Balance Sheets (Parenthetical)
<TEXT>
<XBRL>
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12/31/2010
USD ($)
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12/31/2009
USD ($)

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12/31/2010
USD ($)
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12/31/2009
USD ($)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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<DESCRIPTION>IDEA: Accounts Payable and Accrued Liabilities
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;ACCOUNTS
       PAYABLE AND ACCRUED LIABILITIES&lt;/font&gt;&lt;/b&gt;
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
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   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Accrued payroll and welfare
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       95,412
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       150,160
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       22,752
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Accrued operating expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       162,963
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       297,248
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       45,038
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Tax payable
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       147,656
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       295,432
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,762
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Distributors&amp;#8217; deposits
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,971
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,431
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,126
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Purchase of fixed assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       144,214
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       277,669
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42,071
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Traffic acquisition costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       109,305
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       133,864
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       20,282
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Bandwidth costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       16,417
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,488
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,225
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Professional expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       19,420
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,937
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,930
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customers&amp;#8217; deposits on
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       19,513
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       38,278
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,800
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Others
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30,990
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,264
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,676
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       749,861
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,317,771
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       199,662
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The increase in accrued operating expenses resulted primarily
       from the incentives accrued for advertising agents.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The increase in purchase of fixed assets was mainly due to the
       purchase of computer equipment.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The increase in traffic acquisition costs was primarily due to
       the growth of revenue contribution from Baidu Union members.
   &lt;/div&gt;
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12/31/2010
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5/31/2010
USD ($)

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12/31/2010
USD ($)

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12/31/2010
CNY

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12/31/2010
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12/31/2010
USD ($)
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12/31/2010
CNY
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12/31/2010
USD ($)
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12/31/2010
USD ($)
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12/31/2010
CNY
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12/22/2010
CNY
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12/22/2010
USD ($)

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2/28/2010
USD ($)
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2/28/2010
USD ($)
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 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 43
 -Chapter 3
 -Section A
 -Paragraph 4, 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 115
 -Paragraph 17

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 115
 -Paragraph 7, 8, 9, 10, 11

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 159
 -Paragraph 18
 -Subparagraph f

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 18
 -Paragraph 20
 -Subparagraph a (1)

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debt and equity securities, which are categorized neither as held-to-maturity nor trading, net of adjustments made for accretion, amortization, other-than-temporary impairments, and hedging, if any.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name FASB Staff Position (FSP)
 -Number FAS115-1/124-1
 -Paragraph 7
 -Footnote 2

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 115
 -Paragraph 19

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debt and equity securities, which are categorized neither as held-to-maturity nor trading, net of adjustments made for accretion, amortization, other-than-temporary impairments, and hedging, if any.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name FASB Staff Position (FSP)
 -Number FAS115-1/124-1
 -Paragraph 7
 -Footnote 2

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 115
 -Paragraph 19

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Generally, such investments do not have readily determinable fair values and are not required to be accounted for by the equity method. The carrying amount of such securities equates to cost, adjusted for other-than-temporary impairment. The cost method and lower-of-cost or market, an adaptation of the cost method, is generally followed for most investments in noncontrolled corporations, in some corporate joint ventures, and to a lesser extent in unconsolidated subsidiaries, particularly foreign.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>89
<FILENAME>R78.xml
<DESCRIPTION>IDEA: Share-Based Awards Plan (Details Textuals)
<TEXT>
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USD ($) / shares
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1/1/2010 - 12/31/2010
CNY

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1/1/2009 - 12/31/2009
USD ($) / shares
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1/1/2009 - 12/31/2009
CNY
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1/1/2008 - 12/31/2008
USD ($) / shares
</KeyName><CurrencySymbol>$</CurrencySymbol><contextRef><ContextID>TwelveMonthsEnded_31Dec2008_Stock_Options_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2008-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2008-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Share Option [Member]</ValueName><ValueType>us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>us-gaap_StockOptionsMember</Id><dimensionId>us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>USDEPS</UnitID><UnitType>Divide</UnitType><NumeratorMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></NumeratorMeasure><DenominatorMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>shares</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></DenominatorMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode>USD</CurrencyCode><OriginalCurrencyCode>USD</OriginalCurrencyCode></MCU><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2008" /><Label Id="3" Label="Share Option [Member]" /><Label Id="4" Label="USD ($)" /></Labels></Column><Column><Id>13</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode>CNY</CurrencyCode><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis} : Share Options [Member]
1/1/2008 - 12/31/2008
CNY
</KeyName><CurrencySymbol /><contextRef><ContextID>TwelveMonthsEnded_31Dec2008_Stock_Options_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2008-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2008-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Share Option [Member]</ValueName><ValueType>us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>us-gaap_StockOptionsMember</Id><dimensionId>us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>CNY</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>CNY</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode>CNY</CurrencyCode><OriginalCurrencyCode>CNY</OriginalCurrencyCode></MCU><CurrencySymbol /><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2008" /><Label Id="3" Label="Share Option [Member]" /><Label Id="4" Label="CNY" /></Labels></Column><Column><Id>14</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode>USD</CurrencyCode><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis} : Restricted Stock [Member]
1/1/2010 - 12/31/2010
USD ($)
</KeyName><CurrencySymbol>$</CurrencySymbol><contextRef><ContextID>TwelveMonthsEnded_31Dec2010_Restricted_Stock_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2010-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Restricted Shares [Member]</ValueName><ValueType>us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>us-gaap_RestrictedStockMember</Id><dimensionId>us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>USD</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode>USD</CurrencyCode><OriginalCurrencyCode>USD</OriginalCurrencyCode></MCU><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2010" /><Label Id="3" Label="Restricted Shares [Member]" /><Label Id="4" Label="USD ($)" /></Labels></Column><Column><Id>15</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode>CNY</CurrencyCode><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis} : Restricted Stock [Member]
1/1/2010 - 12/31/2010
CNY

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1/1/2009 - 12/31/2009
CNY
</KeyName><CurrencySymbol /><contextRef><ContextID>TwelveMonthsEnded_31Dec2009_Restricted_Stock_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2009-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2009-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Restricted Shares [Member]</ValueName><ValueType>us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>us-gaap_RestrictedStockMember</Id><dimensionId>us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>CNY</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>CNY</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode>CNY</CurrencyCode><OriginalCurrencyCode>CNY</OriginalCurrencyCode></MCU><CurrencySymbol /><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2009" /><Label Id="3" Label="Restricted Shares [Member]" /><Label Id="4" Label="CNY" /></Labels></Column><Column><Id>17</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode>CNY</CurrencyCode><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis} : Restricted Stock [Member]
1/1/2008 - 12/31/2008
CNY
</KeyName><CurrencySymbol /><contextRef><ContextID>TwelveMonthsEnded_31Dec2008_Restricted_Stock_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2008-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2008-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Restricted Shares [Member]</ValueName><ValueType>us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>us-gaap_RestrictedStockMember</Id><dimensionId>us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardAwardTypeAndPlanNameAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>CNY</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>CNY</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode>CNY</CurrencyCode><OriginalCurrencyCode>CNY</OriginalCurrencyCode></MCU><CurrencySymbol /><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2008" /><Label Id="3" Label="Restricted Shares [Member]" /><Label Id="4" Label="CNY" /></Labels></Column></Columns><Rows><Row><Id>4</Id><IsAbstractGroupTitle>true</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition 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/><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>5</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer 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/><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>10</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>11</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>12</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>13</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>14</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>15</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>16</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>17</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Line items 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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 123R
 -Paragraph A240
 -Subparagraph a

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/><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>6</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>7</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>four years</NonNumbericText><NonNumericTextHeader>four years</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>8</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>9</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>10</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>11</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>12</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>13</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>14</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>two to four years</NonNumbericText><NonNumericTextHeader>two to four years</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>15</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>two to four years</NonNumbericText><NonNumericTextHeader>two to four years</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>16</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>17</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:durationStringItemType</ElementDataType><SimpleDataType>normalizedstring</SimpleDataType><ElementDefenition>Description of the period of time over which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, which may be expressed in a variety of ways (for example, in years, month and year).</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 123R
 -Paragraph A240
 -Subparagraph a

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 -Name Statement of Financial Accounting Standard (FAS)
 -Number 123R
 -Paragraph A240
 -Subparagraph h

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 -Number 123R
 -Paragraph A240
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reporting period as calculated by applying the disclosed option pricing methodology.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 123R
 -Paragraph A240
 -Subparagraph c(1)

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       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;9.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
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       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;INCOME
       TAXES&lt;/font&gt;&lt;/b&gt;
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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       The Company is incorporated in the Cayman Islands and conducts
       its primary business operations through the subsidiaries and
       VIEs in the PRC and Japan. It also has intermediate holding
       companies in the British Virgin Islands (&amp;#8220;BVI&amp;#8221;) and
       Hong Kong. Under the current laws of the Cayman Islands and BVI,
       the Company is not subject to tax on income or capital gains.
       Additionally, upon payments of dividends by the Company to its
       shareholders, no
   Cayman Islands and BVI withholding tax will be imposed. Under
       the Hong Kong tax laws, Baidu Hong Kong is exempted from income
       tax on its foreign-derived income and there are no withholding
       taxes in Hong Kong on remittance of dividends.
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   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
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       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;China&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
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       Under the current EIT Law which has been effective since 2008,
       domestic enterprises and Foreign Investment Enterprises (the
       &amp;#8220;FIE&amp;#8221;) are subject to a unified 25% enterprise income
       tax rate, except for certain entities that enjoyed the tax
       holidays.
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       An enterprise recognized as a qualified &amp;#8220;High and New
       Technology Enterprise&amp;#8221; (&amp;#8220;HNTE&amp;#8221;) after 2008 is
       granted the preferential EIT rate of 15%. If an enterprise,
       which was recognized as a &amp;#8220;HNTE&amp;#8221; before 2008, is also
       verified as a HNTE after 2008, it is entitled to its remaining
       tax holiday granted before 2008 and a preferential EIT rate of
       15% upon expiration of the tax holiday thereafter. In accordance
       with tax circular Guoshuihan [2010] No.&amp;#160;157, a qualified
       HNTE which is in the transitional period of the preferential
       reduction of tax rates may choose to enjoy a subsequent 50%
       reduction on the transitional tax rate, or a preferential EIT
       rate of 15% without further 50% reduction.
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       A qualified &amp;#8220;Software Enterprise&amp;#8221; is entitled to
       &lt;font style="white-space: nowrap"&gt;2-year&lt;/font&gt;
       exemption and subsequent 50% tax rate reduction for
       3&amp;#160;years. If the applicable preferential EIT rate for a
       &amp;#8216;&amp;#8216; Software Enterprise&amp;#8221; before 2008 is 15%, it
       enjoys gradual increase in tax rate from 2008 to 2012,
       specifically, 18% in 2008, 20% in 2009, 22% in 2010, 24% in
       2011, and 25% in 2012 according to Guofa [2007] No. 39. Thus, if
       an enterprise was recognized as a qualified &amp;#8220;Software
       Enterprise&amp;#8221; before 2008 and still retains this
       qualification after 2008, the tax exemptions and deductions
       enjoyed by the qualified &amp;#8220;Software Enterprise&amp;#8221; are
       based on the applicable tax rates.
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       Baidu Online, recognized as a qualified &amp;#8220;HNTE&amp;#8221; after
       2008, has enjoyed the preferential EIT rate of 15% from 2008.
   &lt;/div&gt;
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       Baidu Times, a qualified &amp;#8220;HNTE&amp;#8221; before 2008, was
       granted prior to the effectiveness of the current EIT Law, tax
       holidays for several years, that is, a
       &lt;font style="white-space: nowrap"&gt;3-year&lt;/font&gt; tax
       exemption from 2006 to 2008, and a subsequent 50% tax reduction
       on the transitional tax rate for 2&amp;#160;years from 2009 to 2010,
       namely, 10% in 2009 and 11% in 2010.
   &lt;/div&gt;
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   &lt;/div&gt;
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       Baidu China, was recognized as a qualified &amp;#8220;Software
       Enterprise&amp;#8221; before 2008 and still retains this
       qualification after 2008, and thus is entitled to
       &lt;font style="white-space: nowrap"&gt;2-year&lt;/font&gt;
       exemption from 2006 to 2007 and subsequent 50% tax rate
       reduction for 3&amp;#160;years from 2008 to 2010 at 9% in 2008, 10%
       in 2009, and 11% in 2010.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Under the current EIT Law, dividends paid by a FIE to any of its
       foreign non-resident enterprise investors are subject to a 10%
       withholding tax. Thus, the dividends, if and when payable by
       Baidu Online to Baidu BVI, would be subject to 10% withholding
       tax. A lower tax rate will be applied if such foreign
       non-resident enterprise investor&amp;#8217;s jurisdiction of
       incorporation has signed a tax treaty or arrangement for the
       avoidance of double taxation and the prevention of fiscal
       evasion with respect to taxes on income with China. There is
       such a tax arrangement between PRC and Hong Kong. Thus, the
       dividends, if and when payable by Baidu Times and Baidu China to
       Baidu HK, would be subject to 5% withholding tax rather than
       statutory rate of 10% provided that Baidu HK meets the
       requirements stipulated by relevant PRC tax regulations.
       Furthermore, pursuant to the applicable circular and
       interpretations of the current EIT Law, dividends from earnings
       created prior to 2008 but distributed after 2008 are not subject
       to withholding income tax.
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   &lt;/div&gt;
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       Moreover, the current EIT Law treats enterprises established
       outside of China with &amp;#8220;effective management and
       control&amp;#8221; located in China as PRC resident enterprises for
       tax purposes. The term &amp;#8220;effective management and
       control&amp;#8221; is generally defined as exercising overall
       management and control over the business, personnel, accounting,
       properties, etc. of an enterprise. The Company, if considered a
       PRC resident enterprise for tax purposes, would be subject to
       the PRC Enterprise Income Tax at the rate of 25% on its
       worldwide income for the
   period after January&amp;#160;1, 2008. As of December&amp;#160;31, 2010,
       the Company has not accrued for PRC tax on such basis. The
       Company will continue to monitor its tax status.
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   &lt;/div&gt;
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       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Japan&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
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       Baidu Japan with a paid-in capital in excess of
       JPY100.00&amp;#160;million is subject to national income tax of 30%.
       Baidu Japan is also subject to inhabitants tax, assessed by both
       prefectures and municipalities. Inhabitants tax is computed as a
       percentage of national income tax. The per capita tax is based
       on the Company&amp;#8217;s capitalization and the number of
       employees. In addition, Baidu Japan is subject to a corporate
       enterprise tax on a pro forma basis based on the amount of
       taxable profit subject to the corporate tax, added-value
       components, (e.g. labor costs, net interest and rental payments,
       income/loss for current year) and a capital component. Baidu
       Japan has been in a cumulative loss position since its inception.
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       The Company had minimal operations in jurisdictions other than
       the PRC. Income (loss) before income taxes consists of:
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   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,360,326
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,907,575
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,321,910
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       654,834
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (196,147
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (224,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (260,747
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (39,507
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,164,179
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,683,121
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,061,163
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       615,327
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The pre-tax losses from non-PRC operations consists primarily of
       the operating costs, administration expenses, interest income
       and charges for share-based compensation. Income taxes consist
       of:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="60%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Current income tax
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       129,885
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       222,778
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       616,994
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       93,483
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Income tax refund due to reduced transitional tax rate
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (13,923
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,625
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,004
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Deferred income tax benefit
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (58,553
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (62,308
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (129,415
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (19,608
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Valuation allowance
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,739
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       51,470
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       55,041
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,340
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       116,071
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       198,017
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       535,995
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       81,211
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The reconciliation of tax computed by applying respective
       statutory income tax rate to pre-tax income is as follows
       (Amounts in thousands of Renminbi (&amp;#8220;RMB&amp;#8221;), and in
       thousands of U.S.&amp;#160;Dollars (&amp;#8220;US$&amp;#8221;), except for per
       share data):
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="57%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Expected taxation at PRC EIT statutory rate
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       291,045
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       420,780
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,015,329
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       153,837
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Effect of differing tax rates in different jurisdictions
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,533
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,101
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,416
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,275
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Permanent differences&amp;#160;&amp;#8212; non-taxable income
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (2,121
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,640
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (733
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (111
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Permanent differences&amp;#160;&amp;#8212; non-deductible expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,703
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,001
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,935
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,656
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Tax incentives relating to R&amp;#038;D expenditures
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (17,848
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (9,125
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (22,925
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (3,473
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Effect of tax exemption and reduction inside PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (205,980
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (258,647
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (533,802
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (80,879
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Income tax refund due to overpaid provisional tax
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (13,923
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,625
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,004
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Addition of under-provided EIT for previous years
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,359
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,570
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Addition to valuation allowance
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,739
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       51,470
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       55,041
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,340
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Taxation for the year
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       116,071
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       198,017
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       535,995
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       81,211
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Effective tax rate
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9.97
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       %
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       11.76
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       %
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13.20
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       %
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13.20
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       %
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Basic earnings per share for Class&amp;#160;A and Class&amp;#160;B
       ordinary shares effect of tax exemptions and reductions inside
       the PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6.02
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7.48
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.34
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2.32
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s effective tax rate increased in fiscal year
       2010 compared with 2009, primarily due to the increase of the
       preferential EIT rates for Baidu China and Baidu Times, which
       increased from 10% to 11% and 7.5% to 11%, respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The tax effects of temporary differences that give rise to the
       deferred tax balance at December&amp;#160;31, 2009 and 2010 are as
       follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="69%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Provision for doubtful receivables
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,103
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,964
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       298
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Fixed assets depreciation
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       37,800
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       41,089
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,225
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Net operating loss carry-forward
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       117,964
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       173,644
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,310
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Accrued expenses, payroll and others
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,007
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       80,592
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,211
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Deferred tax assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       167,874
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       297,289
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       45,044
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Valuation allowance
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (124,918
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (179,959
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (27,267
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Deferred tax assets, net
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42,956
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       117,330
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       17,777
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company does not believe that sufficient positive evidence
       exists to conclude that the recoverability of Baidu Japan&amp;#8217;s
       net deferred tax assets is more likely than not to be realized.
       Consequently, the Company has provided full valuation allowances
       on the related net deferred tax assets.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       As of December&amp;#160;31, 2010, the Company had net operating
       losses of approximately RMB461.00&amp;#160;million
       (US$69.85&amp;#160;million) from Baidu Japan, Baidu HK and PRC
       entities, which can be carried forward to offset future net
   profit for income tax purposes. The Japan net operating loss
       will expire beginning 2015; the PRC net operating loss will
       expire beginning 2014; and the HK net operating loss can be
       carried forward without an expiration date.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company has evaluated its income tax uncertainty under
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;740-10.&lt;/font&gt;
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;740-10&lt;/font&gt;
       clarifies the accounting for uncertainty in income taxes by
       prescribing the recognition threshold a tax position is required
       to meet before being recognized in the financial statements. The
       Company has elected to classify interest and penalties related
       to an uncertain tax position, if and when required, as part of
       income tax expense in the consolidated statements of operations.
       As of December&amp;#160;31, 2010, there is no significant tax
       uncertainty impact on the Company&amp;#8217;s financial position and
       result of operations.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company did not provide for deferred income taxes and
       foreign withholding taxes on the undistributed earnings of
       foreign subsidiaries as of December&amp;#160;31, 2009 and 2010 on
       the basis of its intent to permanently reinvest foreign
       subsidiaries&amp;#8217; earnings. If these foreign earnings were to
       be repatriated in the future, the related tax liability may be
       reduced by any foreign income taxes previously paid on these
       earnings. Determination of the amount of unrecognized deferred
       tax liability related to these earnings is not practicable. In
       the case of its VIEs, undistributed earnings were insignificant
       as of each of the balance sheet dates.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In general, the PRC and Japanese tax authorities have up to five
       and seven years respectively to conduct examinations of the
       Company&amp;#8217;s tax filings. Accordingly, the PRC
       subsidiaries&amp;#8217; tax years
       &lt;font style="white-space: nowrap"&gt;2007-2010&lt;/font&gt;
       and the Japanese subsidiary&amp;#8217;s tax years
       &lt;font style="white-space: nowrap"&gt;2007-2010&lt;/font&gt;
       remain open to examination by the respective taxing
       jurisdictions.
   &lt;/div&gt;
   &lt;/div&gt;
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 -Publisher SEC
 -Name Regulation S-X (SX)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 109
 -Paragraph 136, 172

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 109
 -Paragraph 43, 44, 45, 46, 47, 48, 49

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   &lt;div style="margin-left: 0%"&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
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   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;18.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;FAIR
       VALUE MEASUREMENT&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       ASC subtopic
       &lt;font style="white-space: nowrap"&gt;820-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;820-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Fair Value Measurements and Disclosures: Overall,&lt;/i&gt;
       establishes a three-tier fair value hierarchy, which prioritizes
       the inputs used in measuring fair value as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;i&gt;Level&amp;#160;1&lt;/i&gt;&amp;#160;&amp;#8212; Observable inputs that reflect
       quoted prices (unadjusted) for identical assets or liabilities
       in active markets
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;i&gt;Level&amp;#160;2&lt;/i&gt;&amp;#160;&amp;#8212; Include other inputs that are
       directly or indirectly observable in the marketplace
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;i&gt;Level&amp;#160;3&lt;/i&gt;&amp;#160;&amp;#8212; Unobservable inputs which are
       supported by little or no market activity
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       ASC &lt;font style="white-space: nowrap"&gt;820-10&lt;/font&gt;
       describes three main approaches to measuring the fair value of
       assets and liabilities: (1)&amp;#160;market approach;
       (2)&amp;#160;income approach and (3)&amp;#160;cost approach. The market
       approach uses prices and other relevant
   information generated from market transactions involving
       identical or comparable assets or liabilities. The income
       approach uses valuation techniques to convert future amounts to
       a single present value amount. The measurement is based on the
       value indicated by current market expectations about those
       future amounts. The cost approach is based on the amount that
       would currently be required to replace an asset.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Assets
       and liabilities measured at fair value on a recurring
       basis&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In accordance with
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;820-10,&lt;/font&gt;
       the Company measures cash equivalents and debt and equity
       securities, including
       &lt;font style="white-space: nowrap"&gt;held-to-maturity,&lt;/font&gt;
       trading and
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities, at fair value. Cash equivalents are valued using
       quoted market prices. The Company&amp;#8217;s
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities, including fixed-rate investments and adjustable-rate
       investments, are stated at amortized cost with the fair value
       determined based on the discounted cash flow model using the
       discount curve of market interest rates. The Company&amp;#8217;s
       short-term
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities were recorded at fair value based on quoted market
       prices. The Company&amp;#8217;s long-term
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities were initially recognized at the market price. The
       fair value on December&amp;#160;31, 2010 was determined by using the
       income approach based on inputs that are unobservable in the
       market.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In May 2010, the Company acquired a long-term investment in
       6DXchange Inc., which is classified as an
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       security. As there was no readily determinable fair value for
       the investment in 6DXchange Inc., the Company estimated its fair
       value as of December&amp;#160;31, 2010 using an income approach by
       considering cash flow forecasts, discount rate, actual and
       projected operational performance and certain market data
       related to the business of 6DXchange Inc. As of
       December&amp;#160;31, 2010, the fair value of long-term investments
       in available-for sale securities approximates the cost of the
       investment of US$3.79&amp;#160;million. There has been no impairment
       charge of this long-term
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       security during the year ended December&amp;#160;31, 2010.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Assets measured at fair value on a recurring basis are
       summarized below (in thousands):
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
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       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="11%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
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       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
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       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Fair Value Measurement at December&amp;#160;31, 2009 Using&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Quoted Prices in&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant Other&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Active Markets for&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Observable&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unobservable&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Identical Assets&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Inputs&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Inputs&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Total Fair Value at&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 1)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 2)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 3)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31, 2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(US$)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Cash equivalents:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Time deposits
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,658,678
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,658,678
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       251,315
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Money market fund
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       234,782
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       234,782
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       35,573
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Short-term investments:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Held-to-maturity&lt;/font&gt;
       securities
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Fixed-rate investments
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,893,460
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,274,963
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       344,691
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
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   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="34%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="12%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="11%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=hang1 --&gt;
   &lt;/tr&gt;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Fair Value Measurement at December&amp;#160;31, 2010 Using&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Quoted Prices in&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant Other&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Active Markets for&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Observable&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unobservable&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Identical Assets&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Inputs&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Inputs&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Total Fair Value at&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 1)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 2)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 3)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31, 2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(US$)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Cash equivalents:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Time deposits
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,905,479
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,905,479
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       591,739
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Money market fund
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       993,047
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       993,047
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       150,461
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Short-term investments:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Held-to-maturity&lt;/font&gt;
       securities
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Fixed-rate investments
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       56,854
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Long-term investments&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Available-for-sale&lt;/font&gt;
       securities
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,760
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,898,526
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,298,574
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       802,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The following table presents a reconciliation for the
       Company&amp;#8217;s assets measured and recorded at fair value on a
       recurring basis, using significant unobservable inputs
       (Level&amp;#160;3)&amp;#160;for the year ended December&amp;#160;31, 2010
       (in&amp;#160;thousands):
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="84%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="3%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Significant Unobservable Inputs &lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(Level 3)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(RMB)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;(US$)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance at December&amp;#160;31, 2009
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Purchases
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,760
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Change in unrealized gain (loss) included in other comprehensive
       income
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance at December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       24,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,760
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Assets
       and liabilities measured at fair value on a nonrecurring
       basis&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company measures certain financial assets, including equity
       method investments and cost method investments, at fair value on
       a nonrecurring basis only if an impairment charge were to be
       recognized. The Company&amp;#8217;s non-financial assets, such as
       intangible assets, goodwill and fixed assets, would be measured
       at fair value only if they were determined to be
       &lt;font style="white-space: nowrap"&gt;other-than-temporarily&lt;/font&gt;
       impaired.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For the year ended December&amp;#160;31, 2010, the Company
       recognized an impairment loss on fixed assets, with a charge to
       earnings, based on the fair value measurement
       (Level&amp;#160;3)&amp;#160;on a non-recurring basis. The fair value was
       determined using a discounted cash flow model under income
       approach based on future revenues and operating costs, using
       internal projections. The impairment charge amounted to
       RMB12.40&amp;#160;million (US$1.88&amp;#160;million) for the year ended
       December&amp;#160;31, 2010, which resulted from reduced use of
       certain capitalized internal-use software due to changes in
       operations.
   &lt;/div&gt;
   &lt;/div&gt;
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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 107
 -Paragraph 15B
 -Subparagraph a, b

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 107
 -Paragraph 3, 10, 14, 15

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 133
 -Paragraph 44A, 44B

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 157
 -Paragraph 32, 33, 34

Reference 5: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 107
 -Paragraph 15C, 15D

Reference 6: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 107
 -Paragraph 15A
 -Subparagraph a-d

Reference 7: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 159
 -Paragraph 17-22, 27, 28

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 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 10

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 04
 -Article 3

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 30
 -Article 5

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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 30
 -Article 5

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is converted.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
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 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 10

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 29
 -Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 129
 -Paragraph 2, 3, 4, 5, 6, 7, 8

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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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 -Name Accounting Principles Board Opinion (APB)
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 04
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
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May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 29
 -Article 5

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</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>93
<FILENAME>R20.xml
<DESCRIPTION>IDEA: Earnings Per Share
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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   &lt;!-- Begin Block Tagged Note 14 - us-gaap:EarningsPerShareTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
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   &lt;tr&gt;
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       &lt;td width="95%"&gt;&lt;/td&gt;
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   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;14.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;EARNINGS
       PER SHARE (&amp;#8220;EPS&amp;#8221;)&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       On April&amp;#160;28, 2010, the Company announced a change in the
       ratio of its American depositary shares (&amp;#8220;ADSs&amp;#8221;)
       representing Class&amp;#160;A ordinary shares from one ADS for one
       share to ten ADSs for one share, effective on May&amp;#160;12, 2010.
       For Baidu&amp;#8217;s ADS holders, this ratio change has the same
       effect as
       &lt;font style="white-space: nowrap"&gt;ten-for-one&lt;/font&gt;
       ADS split.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The following table sets forth the computation of basic and
       diluted net income per share for Class A and Class&amp;#160;B
       ordinary shares.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (Amounts in thousands of Renminbi (&amp;#8220;RMB&amp;#8221;), and in
       thousands of U.S.&amp;#160;Dollars (&amp;#8220;US$&amp;#8221;), except for
       number of shares, per share and per ADS data)
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
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       &lt;td width="36%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
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       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=07 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=07 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=07 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=07 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=08 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=08 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=08 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=08 type=hang1 --&gt;
       &lt;td width="1%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=09 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=09 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=09 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=09 type=hang1 --&gt;
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   &lt;tr style="font-size: 7pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="30" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 7pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 7pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class A&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class B&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class A&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class B&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class A&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class A&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class B&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Class B&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 7pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per share&amp;#160;&amp;#8212; basic:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Numerator
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Allocation of undistributed earnings
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       772,330
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       275,778
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,107,191
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       377,913
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,690,712
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       407,683
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       834,456
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       126,433
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Weighted average ordinary shares outstanding
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,214,154
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,003,290
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,773,593
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,797,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator used for earnings per share
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,214,154
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,003,290
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,773,593
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,797,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per share&amp;#160;&amp;#8212; basic
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30.63
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30.63
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42.96
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42.96
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       101.28
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.35
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       101.28
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.35
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per share&amp;#160;&amp;#8212; diluted:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Numerator
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Allocation of undistributed earnings for diluted computation
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       765,509
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       282,599
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,107,067
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       378,037
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,693,365
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       408,085
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       831,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       126,031
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Reallocation of undistributed earnings as a result of conversion
       of Class&amp;#160;B to Class&amp;#160;A shares
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       282,599
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       378,037
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       831,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       126,031
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Allocation of undistributed earnings
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,048,108
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       282,599
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,485,104
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       378,037
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,525,168
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       534,116
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       831,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       126,031
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Weighted average ordinary shares outstanding
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,214,154
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,003,290
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,773,593
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,797,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Conversion of Class&amp;#160;B to Class&amp;#160;A ordinary shares
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,003,290
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,797,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Share-based awards
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       500,046
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       357,512
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       205,576
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       55,210
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       112,474
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       112,474
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       350
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       350
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator used for earnings per share
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,717,490
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360,802
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,776,366
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,852,408
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,917,835
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,917,835
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,239,257
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,239,257
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per share&amp;#160;&amp;#8212; diluted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30.19
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30.19
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42.70
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42.70
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       100.96
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.30
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       100.96
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.30
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per ADS:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator used for earnings per ADS&amp;#160;&amp;#8212; basic
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       252,141,540
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       257,735,930
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       265,664,540
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       265,664,540
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator used for earnings per ADS&amp;#160;&amp;#8212; diluted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       347,174,900
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       347,763,660
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       349,178,350
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       349,178,350
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per ADS&amp;#160;&amp;#8212; basic
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3.06
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4.30
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10.13
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1.53
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per ADS&amp;#160;&amp;#8212; diluted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3.02
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4.27
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10.10
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1.53
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
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   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
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   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
 -Paragraph 40

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USD ($)

USD ($) / shares

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CNY

CNY / shares

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CNY

CNY / shares

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CNY

CNY / shares

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1/1/2010 - 12/31/2010
USD ($) / shares
</KeyName><CurrencySymbol>$</CurrencySymbol><contextRef><ContextID>TwelveMonthsEnded_31Dec2010_American_Depository_Shares_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2010-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>American Depository Shares</ValueName><ValueType>bidu_EarningPerShareAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_AmericanDepositorySharesMember</Id><dimensionId>bidu_EarningPerShareAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>USDEPS</UnitID><UnitType>Divide</UnitType><NumeratorMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></NumeratorMeasure><DenominatorMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>shares</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></DenominatorMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode>USD</CurrencyCode><OriginalCurrencyCode>USD</OriginalCurrencyCode></MCU><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2010" /><Label Id="3" Label="American Depository Shares" /><Label Id="4" Label="USD ($)" /></Labels></Column><Column><Id>6</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode>CNY</CurrencyCode><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{bidu_EarningPerShareAxis} : American Depository Shares [Member]
1/1/2010 - 12/31/2010
CNY / shares
</KeyName><CurrencySymbol /><contextRef><ContextID>TwelveMonthsEnded_31Dec2010_American_Depository_Shares_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2010-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>American Depository Shares</ValueName><ValueType>bidu_EarningPerShareAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_AmericanDepositorySharesMember</Id><dimensionId>bidu_EarningPerShareAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>CNYEPS</UnitID><UnitType>Divide</UnitType><NumeratorMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>CNY</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></NumeratorMeasure><DenominatorMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>shares</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></DenominatorMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode>CNY</CurrencyCode><OriginalCurrencyCode>CNY</OriginalCurrencyCode></MCU><CurrencySymbol /><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2010" /><Label Id="3" Label="American Depository Shares" /><Label Id="4" Label="CNY" /></Labels></Column><Column><Id>7</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode>CNY</CurrencyCode><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{bidu_EarningPerShareAxis} : American Depository Shares [Member]
1/1/2009 - 12/31/2009
CNY / shares
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1/1/2008 - 12/31/2008
CNY / shares
</KeyName><CurrencySymbol /><contextRef><ContextID>TwelveMonthsEnded_31Dec2008_American_Depository_Shares_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2008-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2008-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>American Depository Shares</ValueName><ValueType>bidu_EarningPerShareAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_AmericanDepositorySharesMember</Id><dimensionId>bidu_EarningPerShareAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios 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available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>1198920000</NumericAmount><RoundedNumericAmount>1198920</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>7912869000</NumericAmount><RoundedNumericAmount>7912869</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>4445310000</NumericAmount><RoundedNumericAmount>4445310</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>3194461000</NumericAmount><RoundedNumericAmount>3194461</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>5</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>6</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode 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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 1
 -Article 5

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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 1
 -Article 5

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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 2
 -Article 5

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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
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 -Paragraph 4
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 43
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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 141
 -Paragraph 51
 -Subparagraph g

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 2
 -Paragraph 12, 13

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 86
 -Paragraph 11, 12

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 115
 -Paragraph 14

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 7
 -Article 5

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
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 -Paragraph 30

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Such amount typically reflects adjustments similar to those made in preparing consolidated statements, including adjustments to eliminate intercompany gains and losses, and to amortize, if appropriate, any difference between cost and underlying equity in net assets of the investee at the date of investment.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 18
 -Paragraph 19
 -Subparagraph c

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 04
 -Paragraph 11
 -Article 7

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 28

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 9
 -Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 18
 -Paragraph 6
 -Subparagraph b

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separate disclosure on the income statement under materiality guidelines.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 9
 -Article 5

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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 7
 -Article 5

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(benefit) pertaining to continuing operations.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 08
 -Paragraph h
 -Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 109
 -Paragraph 45
 -Subparagraph a, b

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attributable to the parent. If the entity does not present consolidated financial statements, the amount of profit or loss for the period, net of income taxes.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 19
 -Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph 38
 -Subparagraph d

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph A7
 -Appendix A

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph 38
 -Subparagraph a

Reference 5: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 04
 -Paragraph 20
 -Article 9

Reference 6: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 130
 -Paragraph 10, 15

Reference 7: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Emerging Issues Task Force (EITF)
 -Number 87-21

Reference 8: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 28, 29, 30

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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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</XBRL>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>95
<FILENAME>R83.xml
<DESCRIPTION>IDEA: Subsequent Events (Details)
<TEXT>
<XBRL>
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USD ($)
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2/28/2011
USD ($)

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for</Label></Row><Row><Id>6</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_CashConsiderationByEntityForSubscriptionForPreferredSharesOfCostMethodInvestee</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>debit</BalanceType><PeriodType>instant</PeriodType><ShortDefinition>Total cash consideration by the entity for subscribing for the series C preferred shares of the cost method investee.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol 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basis.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol 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/><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:percentItemType</ElementDataType><SimpleDataType>pure</SimpleDataType><ElementDefenition>Percentage of equity interest held by the entity in the cost method investee on an as-converted basis.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Percentage of equity interest held by the Company in the cost method investee on an as-converted basis</Label></Row></Rows><Footnotes /><NumberOfCols>3</NumberOfCols><NumberOfRows>6</NumberOfRows><ReportName>Subsequent Events (Details) (USD $)</ReportName><MonetaryRoundingLevel>TenThousands</MonetaryRoundingLevel><SharesRoundingLevel>NoRounding</SharesRoundingLevel><PerShareRoundingLevel>UnKnown</PerShareRoundingLevel><ExchangeRateRoundingLevel>UnKnown</ExchangeRateRoundingLevel><HasCustomUnits>true</HasCustomUnits><SharesShouldBeRounded>true</SharesShouldBeRounded></InstanceReport>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>96
<FILENAME>R77.xml
<DESCRIPTION>IDEA: Share-Based Awards Plan (Details 3)
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?><InstanceReport xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xsd="http://www.w3.org/2001/XMLSchema"><Version>2.2.0.25</Version><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><ReportLongName>06153 - Disclosure - Share-Based Awards Plan (Details 3)</ReportLongName><DisplayLabelColumn>true</DisplayLabelColumn><ShowElementNames>false</ShowElementNames><RoundingOption>In Thousands</RoundingOption><HasEmbeddedReports>false</HasEmbeddedReports><Columns><Column><Id>1</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode>USD</CurrencyCode><FootnoteIndexer /><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>1/1/2010 - 12/31/2010
USD ($)

USD ($) / shares

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CNY

CNY / shares

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CNY

CNY / shares

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CNY

CNY / shares

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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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       &amp;#8212; 5&amp;#160;years
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       &amp;#8212; over the shorter of lease terms or estimated useful lives
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   &lt;!-- Begin Block Tagged Note</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Property Plant And Equipment Useful Life.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Period over Which Fixed Assets Depreciation or Amortization Recorded on a Straight-line Basis</Label></Row><Row><Id>4</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeTextBlock</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>The weighted average useful lives of finite-lived intangible assets from the date of purchase.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note2_table2 - bidu:FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
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       &lt;td width="87%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="11%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=maindata --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5.0&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customer relationships
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 4.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-competition agreements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 3.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Software
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Contract-based assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 2.3&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 9.6&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Land use right
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
       &amp;#8212; 50&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>The weighted average useful lives of finite-lived intangible assets from the date of purchase.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Intangible Assets Weighted Average Useful Lives from Date of Purchase</Label></Row></Rows><Footnotes /><NumberOfCols>1</NumberOfCols><NumberOfRows>3</NumberOfRows><ReportName>Summary of Significant Accounting Policies (Tables)</ReportName><MonetaryRoundingLevel>UnKnown</MonetaryRoundingLevel><SharesRoundingLevel>UnKnown</SharesRoundingLevel><PerShareRoundingLevel>UnKnown</PerShareRoundingLevel><ExchangeRateRoundingLevel>UnKnown</ExchangeRateRoundingLevel><HasCustomUnits>false</HasCustomUnits><SharesShouldBeRounded>true</SharesShouldBeRounded></InstanceReport>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>98
<FILENAME>R39.xml
<DESCRIPTION>IDEA: Share-Based Awards Plan (Tables)
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?><InstanceReport xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xsd="http://www.w3.org/2001/XMLSchema"><Version>2.2.0.25</Version><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><ReportLongName>0515 - Disclosure - Share-Based Awards Plan (Tables)</ReportLongName><DisplayLabelColumn>true</DisplayLabelColumn><ShowElementNames>false</ShowElementNames><RoundingOption /><HasEmbeddedReports>false</HasEmbeddedReports><Columns><Column><Id>1</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode>USD</CurrencyCode><FootnoteIndexer /><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>1/1/2010 - 12/31/2010
USD ($)

USD ($) / shares

</KeyName><CurrencySymbol>$</CurrencySymbol><contextRef><ContextID>Jan-01-2010_Dec-31-2010</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2010-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments /><Scenarios /></contextRef><UPS><UnitProperty><UnitID>USD</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>USDEPS</UnitID><UnitType>Divide</UnitType><NumeratorMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></NumeratorMeasure><DenominatorMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>shares</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></DenominatorMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>Shares</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>shares</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode>USD</CurrencyCode><OriginalCurrencyCode>USD</OriginalCurrencyCode></MCU><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2010" /></Labels></Column></Columns><Rows><Row><Id>2</Id><IsAbstractGroupTitle>true</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_ShareBasedAwardsPlanTablesAbstract</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Share Based Awards Plan.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Share Based Awards Plan.</ElementDefenition><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Share Based Awards Plan (Tables) [Abstract]</Label></Row><Row><Id>3</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_EmployeeShareOptionAwardsOutstandingTextBlock</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Schedule of the entity's employee share option activity and ending balance of employee share option awards.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note15_table1 - bidu:EmployeeShareOptionAwardsOutstandingTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="52%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="10%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=maindata --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Weighted&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Average&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Aggregate&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Weighted&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Remaining&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Intrinsic&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Number of&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Average&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Contractual&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Value (US$)&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Share Option&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Shares&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Exercise Price&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Life (Years)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Outstanding, December&amp;#160;31, 2009
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       154,674
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$110.80
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2.56
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       46,469
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Granted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       23,729
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$610.08
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Exercised
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (59,068
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$92.00
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Forfeited/Cancelled
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (19,175
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$133.49
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Expired
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (985
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$17.95
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Outstanding, December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       99,175
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$237.99
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2.57
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       72,164
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vested and expected to vest at December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       94,655
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$232.69
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2.52
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       69,375
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Exercisable at December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       55,089
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$115.11
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1.4
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       46,836
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
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   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
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   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="77%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
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   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Weighted&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Average&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Number of&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Grant Date&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Restricted Shares&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Shares&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Fair Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Nonvested, December&amp;#160;31, 2009
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       47,694
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       224.34
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Granted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,390
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       701.15
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vested
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (37,312
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       220.09
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Forfeited
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (5,155
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       329.26
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Nonvested, December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       49,617
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       643.22
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
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   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note15_table3 - bidu:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="53%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="16%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=maindata --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="7%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=maindata --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="16%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=maindata --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Risk-free interest rate
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       1.74%&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;2.60%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       1.18%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       0.61%&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;1.13%
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Dividend yield
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Expected volatility range
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       63.52%&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;70.82%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       85.43%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       64.76%&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;69.70%
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Weighted average expected volatility
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       66.54%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       85.43%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       68.12%
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Expected life (in years)
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       1.63&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;2.64
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       2.65
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       2.65&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;2.66
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
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   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="65%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Cost of revenues
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,542
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,374
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,302
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       955
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Selling, general and administrative
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       41,651
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       38,681
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       36,811
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,577
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Research and development
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       37,784
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       41,263
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       50,623
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,670
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Share-based compensation cost capitalized as part of internally
       used software in fixed assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,706
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,217
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       226
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       35
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       86,683
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       87,535
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       93,962
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,237
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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USD ($) / shares

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USD ($) / shares

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CNY

CNY / shares

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CNY

CNY / shares

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CNY

CNY / shares

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 13
 -Paragraph 122

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 13
 -Paragraph 16
 -Subparagraph b(i)

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 13
 -Paragraph 122

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 13
 -Paragraph 16
 -Subparagraph b(i)

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 13
 -Paragraph 122

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 13
 -Paragraph 16
 -Subparagraph b(i)

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 13
 -Paragraph 122

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 13
 -Paragraph 16
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 -Article 3

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<DESCRIPTION>IDEA: Accounts Receivable (Details)
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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CNY

CNY / shares

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CNY

CNY / shares

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CNY

CNY / shares

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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 3
 -Subparagraph a, b
 -Article 5

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 -Publisher SEC
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 -Number 210
 -Section 02
 -Paragraph 4
 -Article 5

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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
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 -Subparagraph a(1)
 -Article 5

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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 4
 -Article 5

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       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Accrued payroll and welfare
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       95,412
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       150,160
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       22,752
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Accrued operating expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       162,963
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       297,248
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       45,038
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Tax payable
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       147,656
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       295,432
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,762
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Distributors&amp;#8217; deposits
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,971
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,431
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,126
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Purchase of fixed assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       144,214
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       277,669
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42,071
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Traffic acquisition costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       109,305
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       133,864
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       20,282
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Bandwidth costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       16,417
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,488
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,225
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Professional expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       19,420
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,937
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,930
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customers&amp;#8217; deposits on
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       19,513
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       38,278
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,800
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Others
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30,990
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,264
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,676
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       749,861
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,317,771
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       199,662
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
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<SEQUENCE>105
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<DESCRIPTION>IDEA: Loans Payable, Noncurrent
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<XBRL>
<?xml version="1.0" encoding="us-ascii"?><InstanceReport xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xsd="http://www.w3.org/2001/XMLSchema"><Version>2.2.0.25</Version><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><ReportLongName>0210 - Disclosure - Loans Payable, Noncurrent</ReportLongName><DisplayLabelColumn>true</DisplayLabelColumn><ShowElementNames>false</ShowElementNames><RoundingOption /><HasEmbeddedReports>false</HasEmbeddedReports><Columns><Column><Id>1</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode>USD</CurrencyCode><FootnoteIndexer /><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>1/1/2010 - 12/31/2010
USD ($)

USD ($) / shares

</KeyName><CurrencySymbol>$</CurrencySymbol><contextRef><ContextID>Jan-01-2010_Dec-31-2010</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2010-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments /><Scenarios /></contextRef><UPS><UnitProperty><UnitID>USD</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>USDEPS</UnitID><UnitType>Divide</UnitType><NumeratorMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>USD</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></NumeratorMeasure><DenominatorMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>shares</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></DenominatorMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>Shares</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>shares</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode>USD</CurrencyCode><OriginalCurrencyCode>USD</OriginalCurrencyCode></MCU><CurrencySymbol>$</CurrencySymbol><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2010" /></Labels></Column></Columns><Rows><Row><Id>2</Id><IsAbstractGroupTitle>true</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_LongTermLoansPayableAbstract</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>No definition available.</ElementDefenition><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Loans Payable Noncurrent [Abstract]</Label></Row><Row><Id>3</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_LongTermLoansPayableDisclosureTextBlock</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Description containing the entire long-term loans payable disclosure.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note 10 - bidu:LongTermLoansPayableDisclosureTextBlock--&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="5%"&gt;&lt;/td&gt;
       &lt;td width="95%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top"&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;10.&amp;#160;&amp;#160;&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;LOANS
       PAYABLE, NONCURRENT&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       On October&amp;#160;27, 2010, Baidu Netcom borrowed a loan from the
       Export-Import Bank of China to finance some of its
       government-sponsored research projects, at the annual interest
       rate of 5.60%, with respect to which the government will provide
       a cash subsidy at the amount that approximates the interest of
       the loan. The commitment of the unsecured bank loan amounts to
       RMB140.00&amp;#160;million (US$21.21&amp;#160;million) and can be
       borrowed from time to time within 3&amp;#160;years. As of
       December&amp;#160;31, 2010, Baidu Netcom borrowed
       RMB86.00&amp;#160;million (US$13.03&amp;#160;million) under the
       commitment. The loan will be repaid according to the following
       schedule from July&amp;#160;30, 2012. Baidu Netcom has the right to
       repay and may terminate the loan upon a notice in advance.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="83%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Principal Amount&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Due Date&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       July&amp;#160;30, 2012
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       23,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,485
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       October&amp;#160;30, 2012
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       23,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,485
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       January&amp;#160;30, 2013
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       23,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,485
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       April&amp;#160;30, 2013
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       17,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,575
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       86,000
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13,030
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
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</XBRL>
</TEXT>
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<SEQUENCE>106
<FILENAME>R28.xml
<DESCRIPTION>IDEA: Investments (Tables)
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note3_table1 - us-gaap:HeldToMaturitySecuritiesTextBlock--&gt;
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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       &lt;b&gt;As of December&amp;#160;31, 2009&lt;/b&gt;
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       &lt;b&gt;Gross&lt;br /&gt;
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       &lt;b&gt;Gross&lt;br /&gt;
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       &lt;b&gt;Unrecognized&lt;br /&gt;
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       &lt;b&gt;Unrecognized&lt;br /&gt;
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       &lt;b&gt;Amortized&lt;br /&gt;
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       &lt;b&gt;Holding&lt;br /&gt;
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       &lt;b&gt;Holding&lt;br /&gt;
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       &lt;b&gt;Fair&lt;br /&gt;
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       &lt;b&gt;Fair&lt;br /&gt;
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       &lt;b&gt;Cost&lt;/b&gt;
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       &lt;b&gt;Gains&lt;/b&gt;
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       &lt;b&gt;Losses&lt;/b&gt;
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       &lt;b&gt;Value&lt;/b&gt;
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       &lt;b&gt;Value&lt;/b&gt;
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       &lt;b&gt;RMB&lt;/b&gt;
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       &lt;b&gt;RMB&lt;/b&gt;
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       &lt;b&gt;RMB&lt;/b&gt;
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       &lt;b&gt;RMB&lt;/b&gt;
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       &lt;b&gt;US$&lt;/b&gt;
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       &lt;b&gt;(In thousands)&lt;/b&gt;
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       Short-term investments:
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       &lt;font style="white-space: nowrap"&gt;Held-to-maturity&lt;/font&gt;
       securities(1)
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   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 30pt"&gt;
       Fixed-rate investments
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,149
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       354
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,149
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       354
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="43%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="9%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="9%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="18" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;As of December&amp;#160;31, 2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unrecognized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unrecognized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Amortized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Holding&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Holding&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Fair&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Fair&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Cost&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Gains&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Losses&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Short-term investments:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Held-to-maturity&lt;/font&gt;
       securities(1)
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 30pt"&gt;
       Fixed-rate investments
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       376,492
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,263
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       56,854
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       376,492
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,263
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       56,854
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 3pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="2%"&gt;&lt;/td&gt;
       &lt;td width="1%"&gt;&lt;/td&gt;
       &lt;td width="97%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr&gt;
       &lt;td align="right" valign="top"&gt;
       (1) &lt;/td&gt;
       &lt;td&gt;&lt;/td&gt;
       &lt;td valign="bottom"&gt;
       The Company&amp;#8217;s
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities are stated at amortized cost and the fair value is
       determined based on a discounted cash flow model using the
       discount curve of market interest rates.&lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;/div&gt;
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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 115
 -Paragraph 137

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USD ($) / shares

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CNY

CNY / shares

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CNY

CNY / shares

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1/1/2010 - 12/31/2010
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1/1/2009 - 12/31/2009
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1/1/2008 - 12/31/2008
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1/1/2010 - 12/31/2010
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1/1/2009 - 12/31/2009
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1/1/2008 - 12/31/2008
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/></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2008" /><Label Id="3" Label="Maximum [Member]" /></Labels></Column></Columns><Rows><Row><Id>5</Id><IsAbstractGroupTitle>true</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsAndMethodologyAbstract</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>5</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>6</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>7</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>8</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>9</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>No definition available.</ElementDefenition><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Assumptions used to estimate the fair values of the share options granted in the periods</Label></Row><Row><Id>6</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>false</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>false</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.0061</NumericAmount><RoundedNumericAmount>0.0061</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>5</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.0118</NumericAmount><RoundedNumericAmount>0.0118</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>6</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.0174</NumericAmount><RoundedNumericAmount>0.0174</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>7</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.0113</NumericAmount><RoundedNumericAmount>0.0113</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>8</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.0118</NumericAmount><RoundedNumericAmount>0.0118</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>9</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.0260</NumericAmount><RoundedNumericAmount>0.0260</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:percentItemType</ElementDataType><SimpleDataType>pure</SimpleDataType><ElementDefenition>The risk-free interest rate assumption that is used in valuing an option on its own shares.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 123R
 -Paragraph A240
 -Subparagraph e(2)(d)

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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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 -Name Staff Accounting Bulletin (SAB)
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 -Section D
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12/31/2009
CNY
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12/31/2010
USD ($)
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12/31/2010
CNY
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12/31/2009
CNY
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12/31/2010
CNY
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12/31/2010
USD ($)
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12/31/2009
CNY
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12/31/2010
USD ($)
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12/31/2010
CNY
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12/31/2009
CNY
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12/31/2010
USD ($)
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12/31/2010
CNY
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12/31/2009
CNY
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 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 5

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 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 5
 -Subparagraph c

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 14
 -Article 5

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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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       During the years ended December&amp;#160;31, 2008, 2009 and 2010,
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       Short-term investments as of December&amp;#160;31, 2009 and 2010
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
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       &lt;td width="43%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
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       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="9%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="9%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
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       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=gutter --&gt;
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       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=hang1 --&gt;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="18" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;As of December&amp;#160;31, 2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unrecognized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unrecognized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Amortized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Holding&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Holding&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Fair&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Fair&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Cost&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Gains&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Losses&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Short-term investments:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Held-to-maturity&lt;/font&gt;
       securities(1)
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 30pt"&gt;
       Fixed-rate investments
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,149
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       354
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &amp;#160;
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   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &lt;/td&gt;
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   &amp;#160;
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   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
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   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,149
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       354
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       381,503
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
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   &amp;#160;
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   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
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   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
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   &amp;#160;
   &lt;/td&gt;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
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       &lt;td width="43%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="9%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="9%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
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       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=06 type=gutter --&gt;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
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   &amp;#160;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="18" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;As of December&amp;#160;31, 2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unrecognized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Unrecognized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Amortized&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Holding&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Holding&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Fair&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Fair&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Cost&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Gains&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Losses&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Short-term investments:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       &lt;font style="white-space: nowrap"&gt;Held-to-maturity&lt;/font&gt;
       securities(1)
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 30pt"&gt;
       Fixed-rate investments
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       376,492
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,263
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       56,854
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       376,492
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,263
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       375,234
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       56,854
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 3pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="2%"&gt;&lt;/td&gt;
       &lt;td width="1%"&gt;&lt;/td&gt;
       &lt;td width="97%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr&gt;
       &lt;td align="right" valign="top"&gt;
       (1) &lt;/td&gt;
       &lt;td&gt;&lt;/td&gt;
       &lt;td valign="bottom"&gt;
       The Company&amp;#8217;s
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities are stated at amortized cost and the fair value is
       determined based on a discounted cash flow model using the
       discount curve of market interest rates.&lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Long-term
       investments&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s long-term investments consist of cost method
       investments, equity method investments and
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Long-term
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s long-term investments in
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities are investments which are neither classified as cost
       method investments nor equity method investments.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In May 2010, the Company acquired 4,942,784
       &lt;font style="white-space: nowrap"&gt;series&amp;#160;A-1&lt;/font&gt;
       convertible redeemable preferred shares of 6DXchange Inc. with a
       total cash consideration of US$3.79&amp;#160;million. The Company
       holds 11.60% of equity interests of 6DXchange on an as-converted
       basis. In accordance with
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;320-10,&lt;/font&gt;
       investments in securities which are redeemable at the option of
       the investor are considered debt securities. The investment in
       6DXchange Inc. was classified as
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       debt securities because it was not classified as either
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       or trading securities as the convertible redeemable preferred
       shares have no stated maturity date and the Company does not
       have the intent to sell it in the near term. As the Company does
       not expect to sell or redeem it within one year and has the
       intent to hold it for long-term returns, the investment is
       classified as long-term
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       As of December&amp;#160;31, 2010, the fair value of long-term
       investments in available-for sale securities approximates the
       cost of the investment of US$3.79&amp;#160;million. For further
       information, see Note&amp;#160;18.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Cost
       method investments&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s carrying amount of cost method investments
       was RMB12.29&amp;#160;million and RMB204.35&amp;#160;million
       (US$30.96&amp;#160;million) as of December&amp;#160;31, 2009 and 2010,
       respectively. The increase is primarily due to the investment in
       the ordinary shares of a privately-held, PRC-based home
       furnishing
       &lt;font style="white-space: nowrap"&gt;E-commerce&lt;/font&gt;
       company in 2010, in which the Company does not have significant
       influence. The impairment charges on cost method investments
       were RMB7.99&amp;#160;million, nil and nil for the years ended
       December&amp;#160;31, 2008, 2009 and 2010, respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Equity
       method investments&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In July 2009, Beijing Perusal, together with Paibo Online
       (Beijing) Technology Co., Ltd. (&amp;#8220;Paibo&amp;#8221;), a subsidiary
       of Beijing News, set up a joint venture, Beijing Paibo Times
       Technology Co., Ltd. (&amp;#8220;Paibo Times&amp;#8221;), to operate a
       community website and provide information of interest to Beijing
       local residents. The registered capital of Paibo Times is
       RMB5.34&amp;#160;million (US$0.81&amp;#160;million). The Company holds
       42.12% equity interest in Paibo Times and accounts for the
       investment under the equity method.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In February 2010, the Company, Providence Equity Partners
       (&amp;#8220;Providence&amp;#8221;), and Dragon Ventures Limited
       (&amp;#8220;Dragon&amp;#8221;) signed an agreement, pursuant to which
       Providence and Dragon agreed to acquire US$50.00&amp;#160;million in
       convertible redeemable preferred shares and US$1.00&amp;#160;million
       in convertible preferred shares, respectively, of Qiyi.com,
       Inc., a Cayman Islands company established by the Company.
       Qiyi.com, Inc., and entities under its control, develop and
       operate an advertising supported online video business. The
       Company accounts for the investment in Qiyi.com, Inc. under the
       equity method despite holding 100% of its common shares due to
       certain substantive participating rights provided to the
       convertible redeemable preferred shareholder.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       On January&amp;#160;27, 2010, the Company signed an agreement with
       Rakuten, Inc. (&amp;#8220;Rakuten&amp;#8221;), an
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       website in Japan, to establish a joint venture, RakuBai Limited,
       to build a B2B2C online shopping mall for PRC Internet users.
       B2B2C refers to an online marketplace that links and provides
       value-added services to both business to business and business
       to consumer. On February&amp;#160;12, 2010, RakuBai Limited was
       incorporated in Hong Kong. The registered capital of RakuBai
       Limited is US$20.0&amp;#160;million. The Company holds 49% equity
       interest in RakuBai Limited and accounts for the investment
       under the equity method.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       On August&amp;#160;25, 2010, Baidu Netcom, together with Chongqing
       Yubao Culture Communication Co., Ltd. (&amp;#8220;Yubao&amp;#8221;),
       Chongqing Service News Office (&amp;#8220;Service News&amp;#8221;) and a
       third party individual, established Chongqing Rongdu Technology
       Co., Ltd. (&amp;#8220;Chongqing Rongdu&amp;#8221;) to operate a community
       website and provide daily information of interest to Chongqing
       local residents. The registered capital of Chongqing Rongdu is
       RMB2.50&amp;#160;million (USD$0.38&amp;#160;million). Baidu Netcom,
       Yubao, Service News and the third party individual hold 40%,
       30%, 15% and 15% of the JV&amp;#8217;s equity interest, respectively.
       The Company accounts for its investment in Chongqing Rongdu
       under the equity method.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       On December&amp;#160;22, 2010, Henan Ruizhiqi Information Technology
       Co., Ltd. (&amp;#8220;Henan Ruizhiqi&amp;#8221;), a third party company,
       transferred its 40% of the equity interest in Henan Feidian
       Network Technology Co., Ltd. (&amp;#8220;Henan Feidian&amp;#8221;) to
       Baidu Netcom at the nominal amount of RMB1.00 (USD$0.15). Henan
       Feidian operates a community website and provides daily
       information of interest to Henan local residents. The registered
       capital of Henan Feidian is RMB2.00&amp;#160;million
       (US$0.30&amp;#160;million). Baidu Netcom, Henan Ruizhiqi, Henan
       Business News and a third party individual hold 40%, 10%, 35%
       and 15% of Henan Feidian&amp;#8217;s equity interest, respectively.
       The Company accounts for its investment in Henan Feidian under
       the equity method. Henan Feidian had limited operation as of
       December&amp;#160;31, 2010.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       There was no impairment loss recognized for the years ended
       December&amp;#160;31, 2008, 2009 and 2010.
   &lt;/div&gt;
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/><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph A3
 -Appendix A

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Staff Accounting Bulletin (SAB)
 -Number Topic 4
 -Section E

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 29, 30, 31
 -Article 5

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/><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>6</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>7</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>8</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>9</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>10</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Shares</Unit><ElementDataType>xbrli:sharesItemType</ElementDataType><SimpleDataType>shares</SimpleDataType><ElementDefenition>Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Excludes common shares repurchased by the entity and held as Treasury shares. Shares outstanding equals shares issued minus shares held in treasury. Does not include common shares that have been repurchased.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 10

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 04
 -Article 3

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 30
 -Article 5

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/><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>7</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>8</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader 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/><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>8</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>9</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>10</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-27599000</NumericAmount><RoundedNumericAmount>-27599</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into functional currency of the reporting entity, net of tax.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 10

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 04
 -Article 3

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 29, 30
 -Article 5

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 123R
 -Paragraph 39

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 123R
 -Paragraph 64
 -Subparagraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 123R
 -Paragraph A91

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Share-based compensation</Label></Row><Row><Id>10</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>debit</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Cash inflow or outflow from structured repurchase program of ordinary shares under which an upfront cash payment is made 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/><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>8</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>9</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>10</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>3088663000</NumericAmount><RoundedNumericAmount>3088663</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Total of all Stockholders' Equity (deficit) items, net of receivables from officers, directors owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph A3
 -Appendix A

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Staff Accounting Bulletin (SAB)
 -Number Topic 4
 -Section E

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 29, 30, 31
 -Article 5

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shares of common stock held by shareholders. 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 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 10

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 04
 -Article 3

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 30
 -Article 5

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 52
 -Paragraph 13, 20, 31

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph 38
 -Subparagraph c(3)

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 130
 -Paragraph 24
 -Subparagraph b

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 130
 -Paragraph 14, 17, 19, 26

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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 19
 -Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph 38
 -Subparagraph d

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph A7
 -Appendix A

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph 38
 -Subparagraph a

Reference 5: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 04
 -Paragraph 20
 -Article 9

Reference 6: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 130
 -Paragraph 10, 15

Reference 7: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Emerging Issues Task Force (EITF)
 -Number 87-21

Reference 8: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 28, 29, 30

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Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph 30

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph 38
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph 8, 9, 10, 11, 12, 13, 14

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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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 -Name Regulation S-X (SX)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 123R
 -Paragraph 39

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 123R
 -Paragraph 64
 -Subparagraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 123R
 -Paragraph A91

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Share-based compensation</Label></Row><Row><Id>21</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>debit</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Cash inflow or outflow from structured repurchase program of ordinary shares under which an upfront cash payment is made 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/><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>10</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-24419000</NumericAmount><RoundedNumericAmount>-24419</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Value of stock that has been repurchased and retired during the period. The excess of the purchase price over par value can be charged against retained earnings (once the excess is fully allocated to additional paid in capital).</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 10

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 04
 -Article 3

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 29, 30, 31
 -Article 5

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/><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>9</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>10</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Shares</Unit><ElementDataType>xbrli:sharesItemType</ElementDataType><SimpleDataType>shares</SimpleDataType><ElementDefenition>Number of shares that have been repurchased and retired during the period.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 10

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 04
 -Article 3

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 29, 30
 -Article 5

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 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph A3
 -Appendix A

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Staff Accounting Bulletin (SAB)
 -Number Topic 4
 -Section E

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 29, 30, 31
 -Article 5

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/><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>10</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Shares</Unit><ElementDataType>xbrli:sharesItemType</ElementDataType><SimpleDataType>shares</SimpleDataType><ElementDefenition>Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Excludes common shares repurchased by the entity and held as Treasury shares. Shares outstanding equals shares issued minus shares held in treasury. Does not include common shares that have been repurchased.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 10

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 04
 -Article 3

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 30
 -Article 5

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/><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into functional currency of the reporting entity, net of tax.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 52
 -Paragraph 13, 20, 31

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph 38
 -Subparagraph c(3)

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
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 -Article 3

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
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 -Publisher FASB
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 -Paragraph 39

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 123R
 -Paragraph 64
 -Subparagraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 123R
 -Paragraph A91

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The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph A3
 -Appendix A

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Staff Accounting Bulletin (SAB)
 -Number Topic 4
 -Section E

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 29, 30, 31
 -Article 5

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 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
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 -Paragraph 10

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 04
 -Article 3

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
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USD ($)

USD ($) / shares

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CNY

CNY / shares

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CNY

CNY / shares

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CNY

CNY / shares

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/><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-80879000</NumericAmount><RoundedNumericAmount>-80879000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-533802000</NumericAmount><RoundedNumericAmount>-533802000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol 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/><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>The portion of the difference, between total income tax expense (benefit) as reported in the Income Statement for the period and the expected income tax expense (benefit) computed by applying the unified statutory income tax rates to pretax income from continuing operations, that is attributable to total domestic income tax expense (benefit). The domestic income tax expense (benefit) difference represents the income tax expense (benefit) at applicable unified statutory income tax rates applied to domestic  earnings (loss) for the period versus the domestic income tax expense (benefit) calculated by applying the appropriate tax rates for the entity's domestic subsidiaries and VIEs.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Effect of tax exemption and reduction inside PRC</Label></Row><Row><Id>10</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>debit</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>terselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-1004000</NumericAmount><RoundedNumericAmount>-1004000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-6625000</NumericAmount><RoundedNumericAmount>-6625000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-13923000</NumericAmount><RoundedNumericAmount>-13923000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Reflects the effects of adjustments of previously recorded tax expense, significant settlements of income tax disputes, and unusual tax positions or infrequent actions taken by the entity, including tax assessment reversal, IRS tax settlement and unusual repatriation of foreign earnings.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name FASB Interpretation (FIN)
 -Number 48
 -Paragraph 10A, 10B, 10C

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name FASB Interpretation (FIN)
 -Number 48
 -Paragraph 10
 -Subparagraph b

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Income tax refund due to overpaid provisional tax</Label></Row><Row><Id>11</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>debit</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>1570000</NumericAmount><RoundedNumericAmount>1570000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>10359000</NumericAmount><RoundedNumericAmount>10359000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode 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years</Label></Row><Row><Id>12</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>debit</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>8340000</NumericAmount><RoundedNumericAmount>8340000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>55041000</NumericAmount><RoundedNumericAmount>55041000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol 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/><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>The portion of the difference between total income tax expense (benefit) as reported in the Income Statement and the expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income from continuing operations attributable to changes in the valuation allowance for deferred tax assets in the period.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 109
 -Paragraph 26

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Addition to valuation allowance</Label></Row><Row><Id>13</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_IncomeTaxExpenseBenefit</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>debit</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>81211000</NumericAmount><RoundedNumericAmount>81211000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>535995000</NumericAmount><RoundedNumericAmount>535995000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>198017000</NumericAmount><RoundedNumericAmount>198017000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>116071000</NumericAmount><RoundedNumericAmount>116071000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>The sum of the current income tax expense (benefit) and the deferred income tax expense (benefit) pertaining to continuing operations.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 08
 -Paragraph h
 -Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 109
 -Paragraph 45
 -Subparagraph a, b

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Taxation for the year</Label></Row><Row><Id>14</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_EffectiveIncomeTaxRateContinuingOperations</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>terselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.132</NumericAmount><RoundedNumericAmount>0.132</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.132</NumericAmount><RoundedNumericAmount>0.132</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.1176</NumericAmount><RoundedNumericAmount>0.1176</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>true</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0.0997</NumericAmount><RoundedNumericAmount>0.0997</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>us-types:percentItemType</ElementDataType><SimpleDataType>pure</SimpleDataType><ElementDefenition>A ratio calculated by dividing the reported amount of income tax expense attributable to continuing operations for the period by GAAP-basis pretax income from continuing operations.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 109
 -Paragraph 47

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 08
 -Paragraph h
 -Subparagraph 2
 -Article 4

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CNY / shares

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CNY / shares

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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 19
 -Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph 38
 -Subparagraph d

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph A7
 -Appendix A

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph 38
 -Subparagraph a

Reference 5: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 04
 -Paragraph 20
 -Article 9

Reference 6: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 130
 -Paragraph 10, 15

Reference 7: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Emerging Issues Task Force (EITF)
 -Number 87-21

Reference 8: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 28, 29, 30

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 28

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 5

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Depreciation of fixed assets and others</Label></Row><Row><Id>7</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_GainLossOnSaleOfPropertyPlantEquipment</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>true</IsReverseSign><PreferredLabelRole>negated</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>1163000</NumericAmount><RoundedNumericAmount>1163</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>7679000</NumericAmount><RoundedNumericAmount>7679</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>2606000</NumericAmount><RoundedNumericAmount>2606</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>1675000</NumericAmount><RoundedNumericAmount>1675</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>The difference between the sale price or salvage price and the book value of a property, plant, and equipment asset that was sold or retired during the reporting period. This element refers to the gain (loss).</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 28

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 -Publisher SEC
 -Name Staff Accounting Bulletin (SAB)
 -Number Topic 6
 -Section I
 -Subsection 7

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 109
 -Paragraph 45
 -Subparagraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 28

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 109
 -Paragraph 289

Reference 5: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 08
 -Paragraph h
 -Article 4

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Deferred tax assets, net</Label></Row><Row><Id>10</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_ShareBasedCompensation</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>debit</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>14202000</NumericAmount><RoundedNumericAmount>14202</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>93736000</NumericAmount><RoundedNumericAmount>93736</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>86318000</NumericAmount><RoundedNumericAmount>86318</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>83977000</NumericAmount><RoundedNumericAmount>83977</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock options, amortization of restricted stock, and adjustment for officers compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 28

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Share-based compensation</Label></Row><Row><Id>11</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_ProvisionForDoubtfulAccounts</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>debit</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-1052000</NumericAmount><RoundedNumericAmount>-1052</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-6940000</NumericAmount><RoundedNumericAmount>-6940</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>493000</NumericAmount><RoundedNumericAmount>493</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>4980000</NumericAmount><RoundedNumericAmount>4980</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Amount of the current period expense charged against operations, the offset which is generally to the allowance for doubtful accounts for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected).</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 28

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 5
 -Article 5

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 28

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 52
 -Paragraph 30

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Foreign exchange loss</Label></Row><Row><Id>13</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_GainLossOnInvestments</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>true</IsReverseSign><PreferredLabelRole>negated</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-6241000</NumericAmount><RoundedNumericAmount>-6241</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-41193000</NumericAmount><RoundedNumericAmount>-41193</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-8181000</NumericAmount><RoundedNumericAmount>-8181</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-5739000</NumericAmount><RoundedNumericAmount>-5739</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain or loss of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain or loss which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains or losses realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments of the subject investments.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 28

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 7
 -Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 115
 -Paragraph 13, 22

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Gain on investments</Label></Row><Row><Id>14</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_ImpairmentOfInvestments</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>debit</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>7986000</NumericAmount><RoundedNumericAmount>7986</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>This element represents the amount by which the carrying amount exceeds the fair value of the investment. The amount is charged to income if the decline in fair value is deemed to be other than temporary.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 115
 -Paragraph 16

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Impairment on long-term investments</Label></Row><Row><Id>15</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_IncomeLossFromEquityMethodInvestments</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>true</IsReverseSign><PreferredLabelRole>negated</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>1359000</NumericAmount><RoundedNumericAmount>1359</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>8965000</NumericAmount><RoundedNumericAmount>8965</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>229000</NumericAmount><RoundedNumericAmount>229</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. Such amount typically reflects adjustments similar to those made in preparing consolidated statements, including adjustments to eliminate intercompany gains and losses, and to amortize, if appropriate, any difference between cost and underlying equity in net assets of the investee at the date of investment.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 18
 -Paragraph 19
 -Subparagraph c

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 04
 -Paragraph 11
 -Article 7

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 28

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 9
 -Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 18
 -Paragraph 6
 -Subparagraph b

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Loss from equity method investments</Label></Row><Row><Id>16</Id><IsAbstractGroupTitle>true</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>No definition available.</ElementDefenition><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Changes in operating assets and liabilities net of effects of acquisition:</Label></Row><Row><Id>17</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>true</IsReverseSign><PreferredLabelRole>negated</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-2843000</NumericAmount><RoundedNumericAmount>-2843</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-18765000</NumericAmount><RoundedNumericAmount>-18765</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-14951000</NumericAmount><RoundedNumericAmount>-14951</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-4562000</NumericAmount><RoundedNumericAmount>-4562</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>The net cash inflow (outflow) for the net change associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as operating activities. This may include cash restricted for regulatory purposes.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Restricted cash</Label></Row><Row><Id>18</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_IncreaseDecreaseInAccountsReceivable</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>true</IsReverseSign><PreferredLabelRole>negated</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-19440000</NumericAmount><RoundedNumericAmount>-19440</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-128307000</NumericAmount><RoundedNumericAmount>-128307</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-69331000</NumericAmount><RoundedNumericAmount>-69331</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-33282000</NumericAmount><RoundedNumericAmount>-33282</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>The net change during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 28

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Accounts receivable</Label></Row><Row><Id>19</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>true</IsReverseSign><PreferredLabelRole>negated</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-4327000</NumericAmount><RoundedNumericAmount>-4327</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-28560000</NumericAmount><RoundedNumericAmount>-28560</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>5752000</NumericAmount><RoundedNumericAmount>5752</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-27349000</NumericAmount><RoundedNumericAmount>-27349</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>The net change during the reporting period in the value of this group of assets within the working capital section.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 28

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 -Number 95
 -Paragraph 28

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 -Name Statement of Financial Accounting Standard (FAS)
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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 102
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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The excess of the purchase price over par value can be charged against retained earnings (once the excess is fully allocated to additional paid in capital).</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 10

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 04
 -Article 3

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 29, 30, 31
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 -Name Statement of Financial Accounting Standard (FAS)
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</ElementReferences><IsTotalLabel>true</IsTotalLabel><IsEPS>false</IsEPS><Label>Net cash (used in) generated from financing activities</Label></Row><Row><Id>44</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>debit</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>totallabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-926000</NumericAmount><RoundedNumericAmount>-926</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-6110000</NumericAmount><RoundedNumericAmount>-6110</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-741000</NumericAmount><RoundedNumericAmount>-741</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-37889000</NumericAmount><RoundedNumericAmount>-37889</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>The effect of exchange rate changes on cash balances held in foreign currencies.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
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</ElementReferences><IsTotalLabel>true</IsTotalLabel><IsEPS>false</IsEPS><Label>Effect of exchange rate changes on cash and cash equivalents</Label></Row><Row><Id>45</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>totallabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>545697000</NumericAmount><RoundedNumericAmount>545697</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>3601600000</NumericAmount><RoundedNumericAmount>3601600</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>1822767000</NumericAmount><RoundedNumericAmount>1822767</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>1007009000</NumericAmount><RoundedNumericAmount>1007009</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>The net change between the beginning and ending balance of cash and cash equivalents.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
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</ElementReferences><IsTotalLabel>true</IsTotalLabel><IsEPS>false</IsEPS><Label>Net increase in cash and cash equivalents</Label></Row><Row><Id>46</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_CashAndCashEquivalentsAtCarryingValue</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>debit</BalanceType><PeriodType>instant</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>true</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>periodstartlabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>633390000</NumericAmount><RoundedNumericAmount>633390</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>4180376000</NumericAmount><RoundedNumericAmount>4180376</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>2357609000</NumericAmount><RoundedNumericAmount>2357609</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>1350600000</NumericAmount><RoundedNumericAmount>1350600</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 1
 -Article 5

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Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
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       The Company&amp;#8217;s revenue and long-lived assets are primarily
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The following table sets forth revenues by geographic area:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="53%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Revenues:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,194,635
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,441,580
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,898,805
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,196,789
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Non-PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,617
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,196
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       16,269
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,465
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,198,252
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,447,776
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,915,074
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,199,254
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The following table sets forth long-lived assets by geographic
       area:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="67%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Long-lived assets:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,093,681
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,785,511
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       270,532
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 20pt"&gt;
       Non-PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       49,720
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       45,872
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,950
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,143,401
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,831,383
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       277,482
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
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    <reference>No authoritative reference available.</reference>
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    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
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    <reference>No authoritative reference available.</reference>
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    <reference>No authoritative reference available.</reference>
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    <definition>The weighted average useful lives of finite-lived intangible assets from the date of purchase.</definition>
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    <reference>No authoritative reference available.</reference>
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    <reference>No authoritative reference available.</reference>
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    <definition>Aggregate carrying amount, as of the balance sheet date, of current accounts payable and accrued liabilities not separately disclosed in the balance sheet due to materiality considerations. Current accounts payable and accrued liabilities are expected to be paid within one year (or the normal operating cycle, if longer).</definition>
    <reference>No authoritative reference available.</reference>
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    <reference>No authoritative reference available.</reference>
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    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="dei_EntityCommonStockSharesOutstanding">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AssetsNoncurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_PaymentsToAcquireIntangibleAssets">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_IncomeLossBeforeIncomeTaxesByJurisdictionTextBlock">
    <definition>Income (loss) before income taxes, by jurisdiction.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_RetainedEarningsUnappropriated">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_CashInflowOutflowFromStructuredRepurchaseProgramOfOrdinaryShares">
    <definition>Cash inflow or outflow from structured repurchase program of ordinary shares under which an upfront cash payment is made by the Entity in exchange for the right to receive the Entity's own ordinary shares or cash at a pre-determined amount at the expiration of the agreement, depending on whether the closing price of the Entity's ordinary share at the maturity date is below an appointed price.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_IncomeTaxExpenseBenefitContinuingOperationsIncomeTaxReconciliationTextBlock">
    <definition>Income tax expense benefit continuing operations income tax reconciliation.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_IntangibleAssetsGrossExcludingGoodwill">
    <definition>Sum of the gross carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, before accumulated amortization and impairment charges.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_CashConsiderationByEntityForSubscriptionForPreferredSharesOfCostMethodInvestee">
    <definition>Total cash consideration by the entity for subscribing for the series C preferred shares of the cost method investee.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_MaximumRequiredPercentageOfEachOfEntitysVIEsAfterTaxProfitsToAllocateToStatutoryPublicWelfareFund">
    <definition>Maximum required percentage of each of the Entity's PRC VIEs' after-tax profits to be allocated to a statutory public welfare fund.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_TaxesPayableCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtUnifiedStatutoryIncomeTaxRate">
    <definition>The amount of income tax expense (benefit) for the period computed by applying the unified statutory tax rates to pretax income from continuing operations.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_PurchaseOfFixedAssetsPayableCurrent">
    <definition>Carrying value as of the balance sheet date of obligations payable to vendors for purchase of fixed assets that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle, if longer).</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncomeTaxReconciliationTaxExemptIncome">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_RetainedEarningsAccumulatedDeficit">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_RateUsedToDetermineSomePropertyPlantAndEquipmentsEstimatedResidualValue">
    <definition>An estimated rate of the cost used to determine estimated residual value of some property,plant and equipments.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_AmountOfNetAssetsOfEntitysPRCSubsidiariesAndVIEsRestrictedFromBeingTransferredToEntity">
    <definition>Under PRC laws and regulations, there are restrictions on the Entity's PRC subsidiaries and VIEs with respect to transferring certain of their net assets to the Entity either in the form of dividends, loans, or advances. Amounts restricted include paid up capital and statutory reserve funds of the Entity's PRC subsidiaries and the net assets of VIEs in which the Entity has no legal ownership.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_PropertyPlantAndEquipmentEstimatedUsefulLives">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_InvestmentsDisclosureTextBlock">
    <definition>This item represents the disclosure related to cost method investments, equity method investments and investments in held-to-maturity securities, trading securities and available-for-sale securities.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_RegisteredCapital">
    <definition>Registered capital refers to the total capital contribution of the shareholders that is registered with the relevant government agency.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_DeferredTaxAssetsGross">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_DeferredTaxAssetsNetNoncurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodFairValue">
    <definition>The fair value of share-based payment equity instruments, excluding stock options, that vested during the reporting period.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_NetCashProvidedByUsedInOperatingActivities">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AdjustmentForAmortization">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="dei_EntityCentralIndexKey">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_GainLossOnInvestments">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_PreferentialEnterpriseIncomeTaxRate">
    <definition>A preferential enterprise income tax ("EIT") rate granted by relevant  PRC tax authorities to qualified PRC resident enterprises.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_EarningsPerShareDiluted">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_FutureAmortizationExpenseYearTwo">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShortTermInvestments">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="dei_AmendmentFlag">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_CashAndCashEquivalentsPolicyTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_CommonStockVotingRights">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_FairValueDisclosuresTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_InvestmentIncomeInterest">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_LiabilitiesAndStockholdersEquity">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AccruedProfessionalFeesCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_InvestmentInAvailableForSaleDebtSecuritiesNeitherClassifiedAsCostMethodInvestmentsNorEquityMethodInvestmentsOwnershipPercentage">
    <definition>The percentage of ownership of available-for-sale debt securities in the investee accounted for under neither the cost method nor the equity method of accounting.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_FutureAmortizationExpenseYearThree">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_LossContingencyRangeOfPossibleLossMaximum">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_StockholdersEquityNoteDisclosureTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_CashBankDepositsAndMoneyMarketFundsInPRC">
    <definition>Amount of cash, bank deposits and money market funds the entity has in the PRC.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_NetIncomeLossAvailableToCommonStockholdersDiluted">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_NonoperatingIncomeExpense">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_BasicEarningsPerClassAndClassBOrdinarySharesEffectOfDomesticIncomeTaxExpenseBenefitDifferenceDueToTaxExemptionsAndReductions">
    <definition>Basic earnings per Class A and Class B ordinary shares effect of domestic income tax expense benefit difference due to tax exemptions and reductions.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_ApplicableStatutoryEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates">
    <definition>The applicable statutory enterprise income tax rates from tax reduction on transitional tax rates.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_ShareBasedCompensationExpenseChargedToSellingGeneralAndAdministrativeExpense">
    <definition>Represents the expense recognized during the period arising from share-based compensation arrangements with employees, directors and certain consultants qualifying for treatment as employees charged to selling general and administrative expense.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_HeldToMaturitySecuritiesUnrecognizedHoldingLosses">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ConsolidationPolicyTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_SpecifiedNationalIncomeTaxRateOfForeignCountry">
    <definition>A specified Japan national income tax rate.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_FairValueAssetsMeasuredOnRecurringBasisCashAndCashEquivalents">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncreaseDecreaseInDueFromRelatedPartiesCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_ComponentsOfDeferredTaxAssetsTextBlock">
    <definition>Tax effects of temporary differences giving rise to the deferred tax balance.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_TotalCapitalCommitmentsContractedNotYetReflectedInFinancialStatements">
    <definition>Total capital commitments that has been contracted but not yet reflected in the financial statements.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_VariableInterestCarryingAmountAssets">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_CostOfSalesPolicyTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OperatingLossCarryforwardsExpirationDates">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_PercentageOfEquityInterestHeldByEntitiesInNewJointVenture">
    <definition>Percentage of equity interest held by entities in the new joint venture respectively upon the completion of the ordinary shares subscription.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_StatutoryWithholdingTaxRateToWhichDividendsPaidByFIEToAnyOfItsForeignNonResidentEnterpriseInvestorsAreSubjectUnderCurrentEITLaw">
    <definition>The statutory withholding tax rate to which dividends paid by a FIE to any of its foreign non-resident enterprise investors are subject under the current EIT Law, which were exempt under the previous EIT Law.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_PaymentsToAcquireOtherPropertyPlantAndEquipment">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_NominalAmountPaidToAcquireEquityInterestInJointVentureTransferredFromThirdPartyEntity">
    <definition>Nominal amount paid to acquire equity interest in joint venture transferred from a third party entity.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_DeferredIncomeTaxExpenseBenefit">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ForeignCurrencyTransactionGainLossUnrealized">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_NumberOfYearsOfTaxExemption">
    <definition>Number of years of enterprise income tax exemption.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_ReallocationOfUndistributedEarningsAsResultOfConversionOfClassBToClassAShares">
    <definition>Reallocation of undistributed earnings as a result of conversion of class B to class A shares.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_FiniteLivedIntangibleAssetsNet">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_DeferredTaxAssetsNetCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_HeldToMaturitySecuritiesTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_HeldToMaturitySecuritiesDebtMaturitiesNetCarryingAmount">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ComprehensiveIncomeNetOfTax">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OtherSalesRevenueNet">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_LiabilitiesNoncurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_CommitmentsAndContingencies2009">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OperatingLeasesFutureMinimumPaymentsDue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_ReductionRateOnApplicableEnterpriseIncomeTaxRates">
    <definition>The reduction rate on applicable enterprise income tax rates granted by relevant PRC tax authorities to qualified PRC resident enterprises.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_Liabilities">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_IntangibleAssetsFutureAmortizationExpensesTextBlock">
    <definition>Estimated amortization expense relating to the existing intangible assets with finite lives for each of next five years.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_DeferredRevenueCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_ReceivablesFromEmployees">
    <definition>Receivables from employees.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IntangibleAssetsDisclosureTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_CashAndCashEquivalentsAtCarryingValue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_FutureAmortizationExpenseYearOne">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ConcentrationRiskDisclosureTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="dei_EntityCurrentReportingStatus">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OtherAssetsCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_NumberOfYearsOfTaxRateReductionSubsequentToYearsOfTaxExemption">
    <definition>Number of years of enterprise income tax rate reduction subsequent to years of tax exemption.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncomeTaxPolicyTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ProceedsFromLongTermLinesOfCredit">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="dei_EntityWellKnownSeasonedIssuer">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_AppreciationOrDepreciationOfFunctionalCurrencyOfEntityAndItsSubsidiariesAndVIEsAgainstReportingCurrencyByPercentage">
    <definition>Appreciation or depreciation of functional currency of entity and its subsidiaries and VIEs against reporting currency by percentage.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_PercentageOfEquityInterestHeldByEntityInCostMethodInvesteeOnAsConvertedBasis">
    <definition>Percentage of equity interest held by the entity in the cost method investee on an as-converted basis.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_IncrementalCommonSharesAttributableToConversionOfOtherClassOfStock">
    <definition>Incremental common shares attributable to the assumed conversion of Class B ordinary shares in the computation of the diluted net income per share of Class A ordinary shares.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_MinimumRequiredPercentageOfEachOfEntitysSubsidiariesAfterTaxProfitsToAllocateToGeneralReserveFund">
    <definition>Minimum required percentage of each of the Entity's PRC subsidiaries' after-tax profits to be allocated to a general reserve fund.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ValuationAllowancesAndReservesBalance">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_AmountOtherEntitiesAgreeToPayToAcquireConvertiblePreferredSharesOfEquityMethodInvestee">
    <definition>This item represents the amount other entities agreed to pay to acquire convertible redeemable preferred shares and convertible preferred shares of the equity method investee.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_PropertyPlantAndEquipmentUsefulLifeMinimum">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_SplitWhoseEffectIsSameWithChangeOfAdsToClassaOrdinaryShareRatio">
    <definition>The split whose effect is the same with the entity's change of the ADS to Class A ordinary share ratio.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OperatingLeasesFutureMinimumPaymentsDueCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_IncreaseDecreaseInDeferredIncome">
    <definition>The net change during the reporting period in the amount of deferred income.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_EquityMethodInvestmentOwnershipPercentage">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AccountsReceivableGrossCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_MaturityPeriodUsedToClassifyInvestmentsAsShortTermInvestments">
    <definition>Original maturity from the date of purchase used to  classify investments as short-term investments.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_OtherAssetsCurrentTextBlock">
    <definition>Other Assets Current.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensation">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_DeferredTaxAssetsValuationAllowance">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchasesSalesIssuancesSettlements">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_UseOfEstimatesPolicyTextBlock">
    <definition>Provides an entity's explanation that the preparation of financial statements in conformity with generally accepted accounting principles requires the use of management estimates. Estimates used in the determination of carrying amounts of assets or liabilities, or in disclosure of gain or loss contingencies should be disclosed if known information available prior to issuance of the financial statements indicates that both of these criteria are met: (1) It is at least reasonably possible that the estimate of the effect on the financial statements of a condition, situation, or set of circumstances that existed at the date of the financial statements will change in the near term (less than one year from the date of issuance) due to one or more future confirming events, and (2) The effect of the change would be material to the financial statements. The disclosure should indicate the nature of the uncertainty and include an indication that it is at least reasonably possible that a change in the estimate will occur in the near term. Disclosure of the factors that cause the estimate to be sensitive to change also is encouraged. Entities also may identify those areas that are subject to significant estimates.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_DueFromRelatedPartiesCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ResearchDevelopmentAndComputerSoftwarePolicyTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_CapitalizedComputerSoftwareAdditions">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_CapitalizedComputerSoftwareNet">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_ComponentsOfIncomeTaxTextBlock">
    <definition>Components of income tax.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AssetsCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_RetainedEarningsAppropriated">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_LongLivedAssetsByGeographicAreaTextBlock">
    <definition>Long-lived assets by geographic area.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPeriodIncreaseDecrease">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedTerm">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_PeriodWithinWhichSpecificAmountCanBeBorrowed">
    <definition>The period within which a specific amount can be borrowed under a contractual arrangement with the lender.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_WeightedAverageNumberOfSharesIssuedBasic">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_PercentageOfShareBasedAwardsGrantedGenerallyVestAfterFirstYearOfService">
    <definition>Percentage of share-based awards granted generally vest after the first year of service.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_LongTermInvestments">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_TimePeriodThatTaxAuthoritiesCouldConductExaminationsOfEntitysTaxFilings">
    <definition>Time Period That Tax Authorities Could Conduct Examinations Of Entity's Tax Filings.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncome">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_SellingGeneralAndAdministrativeExpense">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncomeTaxExpenseBenefit">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OperatingIncomeLoss">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AdvertisingCostsPolicyTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_PropertyPlantAndEquipmentUsefulLifeTextBlock">
    <definition>Property Plant And Equipment Useful Life.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ResearchAndDevelopmentExpense">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AvailableForSaleSecuritiesAmortizedCost">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_NetCashProvidedByUsedInFinancingActivities">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_TrafficAcquisitionCosts">
    <definition>Carrying value as of the balance sheet date of obligations payable to the entity's union members for acquisition of traffic. The entity's union is the program through which the entity expands distribution of its customers sponsored links or advertisements by leveraging traffic of  the entity's union members internet properties or distributing the entitys customers paid links through union members properties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_AllocationOfUndistributedEarningsForDilutedComputation">
    <definition>Allocation of undistributed earnings for diluted computation.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_DeferredCostsCapitalizedPrepaidAndOtherAssetsDisclosureTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AccountsReceivableNetCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_DeferredIncomeNoncurrent">
    <definition>The noncurrent portion of deferred income amount as of balance sheet date. Deferred income noncurrent is a liability related to an activity incurring nonoperating income for which nonoperating income has not yet been recognized, and is not expected to be recognized in the next twelve months. Deferred income noncurrent, in this case, represents government subsidies relating to a research and development program of the entity.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_EmployeeShareOptionAwardsOutstandingTextBlock">
    <definition>Schedule of the entity's employee share option activity and ending balance of employee share option awards.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_FiniteLivedIntangibleAssetsGross">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ImpairmentOfLongLivedAssetsHeldForUse">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_UnifiedStatutoryEnterpriseIncomeTaxRateUnderCurrentEITLaw">
    <definition>The statutory enterprise income tax ("EIT") rate applicable to all PRC resident enterprises, including Foreign Investment Enterprises ("FIE") and foreign enterprises established outside of  PRC with "effective management and control" located in PRC, except for certain entities that enjoyed the tax holidays which are grandfathered by the current EIT Law or that are entitled to tax incentives under the current EIT Law, replacing the previous separate income tax laws for domestic enterprises and the FIEs.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_MaturityPeriodUsedToClassifyInvestmentsAsCashAndCashEquivalents">
    <definition>Original maturity from the date of purchase used to classify investments as cash and cash equivalents.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IndefiniteLivedIntangibleAssetsExcludingGoodwill">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncreaseDecreaseInTradingSecurities">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncomeLossFromEquityMethodInvestments">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ImpairmentOfInvestments">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_EmployeeRelatedLiabilitiesCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_VariableInterestCarryingAmount">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncomeTaxExaminationYearSUnderExamination">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_MaximumRequirementOfEachOfEntitysVIEsAfterTaxProfitsToBeAllocatedToStatutorySurplusFundAsPercentageOfEachVIEsRegisteredCapital">
    <definition>Maximum requirement of each of the Entity's PRC VIEs' after-tax profits to be allocated to a statutory surplus fund as a percentage of each VIEs' registered capital.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncomeTaxDisclosureTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_Goodwill">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_FairValueOfFinancialInstrumentsPolicyTextBlock">
    <definition>Describes an entity's accounting policy for determining the fair values of its financial instruments.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_PercentageOfFairMarketValueOfEntitysOrdinarySharesOnDateOfIsoGrant">
    <definition>Percentage of the fair market value of the entity's ordinary shares on the date of the ISO grant, which the exercise price of an ISO grant cannot be less than.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsTextBlock">
    <definition>Disclosure of assumptions used to estimate the fair values of the share options on the date of grant using the Black-Scholes Method valuation model.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_DeferredTaxAssetsOperatingLossCarryforwards">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_CommitmentsContingenciesAndGuaranteesDisclosureTextBlock">
    <definition>Includes disclosure of commitments,contingencies and guarantees. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_DeferredIncomeTaxExpenseBenefitBeforeValuationAllowance">
    <definition>The component of income tax expense for the period representing the change in the entity's deferred tax assets and liabilities before valuation allowance pertaining to continuing operations.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncomeTaxesPaidNet">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_DeferredTaxAssetsNet">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_DueToRelatedPartiesCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="dei_DocumentFiscalPeriodFocus">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_SegmentReportingDisclosureTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_FutureAmortizationExpenseYearFive">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ConcentrationRiskPercentage">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_CostMethodInvestmentsAggregateCarryingAmount">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_LeaseAndRentalExpense">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_CurrencyTranslationRateForFinancialStatementsPresentation">
    <definition>Translation rate of amounts from RMB into US$ for the convenience of the reader have been calculated at the exchange rate on the last date of calendar year-end reporting period as published on the website of the Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into U.S. dollars at such rate.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AccruedLiabilitiesCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ScheduleOfGuaranteeObligationsTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_MinimumPaidInCapitalRequiredForSpecifiedNationalIncomeTaxRateOfForeignCountry">
    <definition>Minimum Paid In Capital Required For Specified National Income Tax Rate Of A Foreign Country.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OperatingLossCarryforwards">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_GoodwillTranslationAndPurchaseAccountingAdjustments">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_AccountsPayableAndAccruedLiabilitiesCurrentTextBlock">
    <definition>Accounts Payable And Accrued Liabilities Current (Tables).</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AvailableForSaleSecuritiesDebtSecurities">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_ThresholdOfBusinessRiskAssociatedWithAmountOfRevenueGeneratedByAnySingleCustomerOrUnionMemberOfEntity">
    <definition>Threshold of business risk associated with amount of revenue generated by any single customer or union member of entity.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_IncomeTaxReconciliationForeignIncomeTaxRateDifferentialAnother">
    <definition>The portion of the difference, between total income tax expense (benefit) as reported in the Income Statement for the period and the expected income tax expense (benefit) computed by applying the unified statutory income tax rates to pretax income from continuing operations, that is attributable to total foreign income tax expense (benefit). The foreign income tax expense (benefit) difference represents the income tax expense (benefit) at applicable domestic statutory income tax rates applied to foreign earnings (loss) for the period versus the foreign income tax expense (benefit) calculated by applying the appropriate foreign tax rates.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_MinimumPercentageOfVotingPowerOfEntitysShareCapital">
    <definition>Minimum percentage of voting power of the entity's share capital an employee is expteced to hold at the time of an ISO grant to him to have him subjected to special contractual term and exercise price of that grant.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="dei_EntityFilerCategory">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_NumberOfPreferredSharesOfCostMethodInvesteeEntityAgreedToSubscribeFor">
    <definition>Number of series C preferred shares of the cost method investee the entity agreed to subscribe for.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_ApplicableActualEnterpriseIncomeTaxRatesFromTaxReductionOnTransitionalTaxRates">
    <definition>The applicable actual enterprise income tax rates from tax reduction on transitional tax rates.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_EffectiveIncomeTaxRateContinuingOperations">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="dei_EntityRegistrantName">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_PaymentsToDevelopSoftware">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_DeferredTaxAssetsFixedAssetsDepreciation">
    <definition>The tax effect as of the balance sheet date of the amount of the estimated future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of fixed assets, which can only be deducted for tax purposes when permitted under enacted tax laws ( before the valuation allowance, if any, to reduce such sum amount to net realizable value).</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="dei_DocumentFiscalYearFocus">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_SignificantAccountingPoliciesTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_FinancialSubsidiesReceivedFromGovernment">
    <definition>Financial subsidies received from provincial and local governments for operating a business in their jurisdictions and compliance with specific policies promoted by the local governments and such amounts are recorded as other income when received and there are no further conditions to be met before recognition.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_RestrictedConsumerDeposits">
    <definition>The carrying amount of deposits made by consumers on the entity's e-commerce platform. The deposits are considered restricted because they cannot be used for the operations of the entity or any other purpose not designated by consumers. When consumers fund their accounts in entity's online payment platform using their bank accounts, the deposited balance is included in the entity's bank account until customers either use the cash to settle their online transactions or withdraw the cash.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_PaymentsToAcquireHeldToMaturitySecurities">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_TimeDepositsOriginalMaturityPeriod">
    <definition>Time deposits original maturity period.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_TransitionalEnterpriseIncomeTaxRates">
    <definition>The transitional enterprise income tax rates from 2008 to 2012 according to Guofa [2007] No. 39.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_CurrentRatioOfAdsToClassaOrdinaryShare">
    <definition>The current ratio of the entity's American depositary shares ("ADSs") representing Class A ordinary shares, which is effective from May 12, 2010 to Dec. 31, 2010.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_EntityWideDisclosureOnGeographicAreasRevenueFromExternalCustomersAttributedToForeignCountries">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_DebtInstrumentPrincipalOutstanding">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncomeTaxReconciliationNondeductibleExpense">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="dei_CurrentFiscalYearEndDate">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_RemainingVestingPeriod">
    <definition>Remaining vesting period after the first year of service expected to be rendered in order to acquire relevant share based awards.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_EmployeeServiceShareBasedCompensationUnrecognizedCompensationCostsOnNonvestedAwards">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_DepreciationOfFixedAssetsExcludingLongTermComputerParts">
    <definition>The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Excludes depreciation of long-term computer parts.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ScheduleOfSubsequentEventsTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_EarningsPerSharePolicyTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_FiniteLivedIntangibleAssetsWeightedAverageUsefulLifeAnother">
    <definition>The calculated weighted-average useful life of all finite-lived intangible assets.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="dei_DocumentPeriodEndDate">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_EmployeeRestrictedShareAwardsNonvestedTextBlock">
    <definition>Schedule of the entity's employee restricted shares activity and ending balance of employee restricted share awards.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_LongTermLoansPayablePrincipalAmountsDueAtMaturityDatesTextBlock">
    <definition>This item represents the disclosure of principal amounts due at maturity dates of long-term loans payable.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_ShareBasedCompensationArrangementByShareBasedPaymentAwardContractualTerm">
    <definition>The contractual term of share-based awards granted.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_TotalConsiderationByOtherEntityForSubscriptionForNewOrdinarySharesInNewJointVenture">
    <definition>Total consideration by other entity for subscribing for new ordinary shares in the new joint venture.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_MovementsInAllowanceForDoubtfulAccountsRollForwardTextBlock">
    <definition>Disclosure of movements in allowance for doubtful accounts for accounts receivable. This disclosure includes write-offs and amounts credited against to costs and expenses.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_InvestmentPolicyTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_PropertyPlantAndEquipmentGross">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_LeasePolicyTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncreaseDecreaseInAccountsReceivable">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OperatingLeasesOfLesseeDisclosureTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_MinimumRequiredPercentageOfEachOfEntitysVIEsAfterTaxProfitsToAllocateToStatutoryPublicWelfareFund">
    <definition>Minimum required percentage of each of the Entity's PRC VIEs' after-tax profits to be allocated to a statutory public welfare fund.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OtherIncomeAndOtherExpenseDisclosureTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_PropertyPlantAndEquipmentUsefulLifeMinimumAnother">
    <definition>The minimum useful life of long lived, physical assets used in the normal conduct of business and not intended for resale. Examples include land and improvements, buildings, and production equipment.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_CashCashEquivalentsAndShortTermInvestments">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_DepositsAssetsNonThirdPartiesCurrent">
    <definition>Carrying value of amounts transferred to suppliers (including service providers, etc) that are expected to be returned or applied towards payment within one year or during the operating cycle, if shorter.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncomeTaxReconciliationTaxCreditsResearch">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OtherLongTermDebtNoncurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ConvertiblePreferredStockSharesIssuedUponConversion">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ProceedsFromStockOptionsExercised">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_EntityWideDisclosureOnGeographicAreasLongLivedAssetsInForeignCountries">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_FutureAmortizationExpenseYearFour">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_ShareBasedCompensationExpenseChargedToResearchAndDevelopmentExpense">
    <definition>Represents the expense recognized during the period arising from share-based compensation arrangements with employees, directors and certain consultants qualifying for treatment as employees charged to research and development expense.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_PreferredStockSharesIssued">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_EmployeeDefinedContributionPlanDisclosureTextBlock">
    <definition>Full time employees of the Group in the PRC participate in a government mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_PropertyPlantAndEquipmentTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_CurrentIncomeTaxExpenseBenefit">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_MinimumRequiredPercentageOfEachOfEntitysViesAfterTaxProfitsToAllocateToStatutorySurplusFund">
    <definition>Minimum required percentage of each of the Entity's PRC VIEs' after-tax profits to be allocated to a statutory surplus fund.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OtherPrepaidExpenseCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_GainLossOnSaleOfPropertyPlantEquipment">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_OtherAssetsNoncurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncreaseDecreaseInDueToRelatedPartiesCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_MaximumRequirementOfEachOfEntitysSubsidiariesAfterTaxProfitsToBeAllocatedToGeneralReserveFundAsPercentageOfEachSubsidiariesRegisteredCapital">
    <definition>Maximum requirement of each of the Entity's PRC Subsidiaries' after-tax profits to be allocated to a general reserve fund as a percentage of each Subsidiaries' registered capital.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IntangibleAssetsNetExcludingGoodwill">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AdditionalPaidInCapital">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_CommonStockValue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_HeldToMaturitySecuritiesCurrent">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_OtherAssetsCurrentOther">
    <definition>Aggregate carrying amount, as of the balance sheet date, of other current assets not separately presented elsewhere in the table "Other Assets,Current".</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_LongTermLoansPayable">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_PreviousRatioOfAdsToClassaOrdinaryShare">
    <definition>The previous ratio of the entity's American depositary shares ("ADSs") representing Class A ordinary shares, which is effective from the time of the entity's IPO to May 11, 2010.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_StockRepurchasedAndRetiredDuringPeriodValue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_DebtInstrumentInterestRateStatedPercentage">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_GuaranteeObligationsMaximumExposure">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_DistributorsDepositsPayableCurrent">
    <definition>Carrying value as of the balance sheet date of obligations payable for distributors' deposits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle, if longer).</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_CostOfRevenue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_LongTermLoansPayableDisclosureTextBlock">
    <definition>Description containing the entire long-term loans payable disclosure.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_RevenuesByGeographicAreaTextBlock">
    <definition>Revenues by geographic area.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_ShareBasedCompensationExpenseChargedToCostOfRevenue">
    <definition>Represents the expense recognized during the period arising from share-based compensation arrangements with employees, directors and certain consultants qualifying for treatment as employees charged to cost of revenue.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_CommonStockParOrStatedValuePerShare">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_GoodwillAcquiredDuringPeriod">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_CostsAndExpenses">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_CommonStockSharesAuthorized">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_Depreciation">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_HeldToMaturitySecuritiesUnrecognizedHoldingGains">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_NoncashOrPartNoncashAcquisitionFixedAssetsAcquired">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AdvertisingExpense">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_IncomeTaxReconciliationDomesticIncomeTaxRateDifferential">
    <definition>The portion of the difference, between total income tax expense (benefit) as reported in the Income Statement for the period and the expected income tax expense (benefit) computed by applying the unified statutory income tax rates to pretax income from continuing operations, that is attributable to total domestic income tax expense (benefit). The domestic income tax expense (benefit) difference represents the income tax expense (benefit) at applicable unified statutory income tax rates applied to domestic  earnings (loss) for the period versus the domestic income tax expense (benefit) calculated by applying the appropriate tax rates for the entity's domestic subsidiaries and VIEs.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_IncreaseDecreaseInCustomerAdvancesAndDepositsCurrent">
    <definition>The net change during the period in the amount of the current portion, due within one year or one operating cycle, if longer, of aggregate prepayments received from customers for goods or services to be provided in the future, as well as the current portion of money or property received from customers that are to be returned upon satisfactory contract completion or as partial prepayment for goods or services to be provided in the future.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_PercentageOfEquityInterestInJointVentureTransferredFromThirdPartyEntity">
    <definition>Percentage of equity interest in joint venture transferred from a third party entity.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_ReceivablesFromServiceProvider">
    <definition>Receivables from service provider.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_Supplies">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_NoncashOrPartNoncashAcquisitionInvestmentsAcquired">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_EntityWideDisclosureOnGeographicAreasLongLivedAssetsInEntitysCountryOfDomicile">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_PercentageOfEquityInterestInJointVentureHeldByVariousParties">
    <definition>This item represents percentage of equity interest in joint venture held by various parties.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ReceivablesPolicyTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_RelatedPartyTransactionsDisclosureTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_EarningsPerShareForClassaAndClassBOrdinarySharesAndEarningsPerAdsTextBlock">
    <definition>Earnings per share for class A and class B ordinary shares and earnings per ADS.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_NumberOfOperatingSegment">
    <definition>The number of operating segment the entity has.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_EmployeeDefinedContributionPlan">
    <definition>Full time employees of the Group in the PRC participate in a government mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_HeldToMaturitySecuritiesFairValue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_PropertyPlantAndEquipmentNet">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_DescriptionOfNewAccountingPronouncementsNotYetAdoptedTextBlock">
    <definition>For a new accounting pronouncement that has been issued but not yet adopted, an entity's disclosure should (1) describe the new pronouncement, the date that adoption is required and the date that the entity plans to adopt, if earlier; (2) discuss the methods of adoption allowed by the pronouncement and the method expected to be utilized by the entity, if determined; (3) discuss the impact that adoption of the pronouncement is expected to have on the financial statements of the entity, unless such impact is not known or reasonably estimable (in which case, a statement to that effect should be made) and; (4) disclose the potential impact of other significant matters that the entity believes might result from the adoption of the pronouncement (for example, technical violations of debt covenant agreements and planned or intended changes in business practices).</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="bidu_FairValueMeasuredOnRecurringBasisAssets">
    <definition>This element represents assets measured at fair value on a recurring basis.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_DeferredTaxAssetsOther">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableIntrinsicValue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_EmployeeServiceShareBasedCompensationUnrecognizedCompensationCostsOnNonvestedAwardsWeightedAveragePeriodOfRecognition">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
  <Element Id="us-gaap_AdvertisingRevenue">
    <definition>No authoritative reference available.</definition>
    <reference>No authoritative reference available.</reference>
  </Element>
</DefinitionAndReference>
</XBRL>
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<DESCRIPTION>IDEA: Summary of Significant Accounting Policies (Details Textuals 1)
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 -Name Implementation Guide (Q and A)
 -Number FAS86
 -Paragraph 18

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 86
 -Paragraph 11
 -Subparagraph a

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       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;SHARE-BASED
       AWARDS PLAN&lt;/font&gt;&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Incentive
       Compensation Plans&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In January 2000, the Company adopted the 2000 Option Plan (the
       &amp;#8220;2000 Plan&amp;#8221;). The 2000 Plan provided for the granting
       of share options and restricted ordinary shares to employees and
       consultants of the Company. All the options granted to Company
       employees and consultants under the 2000 Plan were nonqualified
       share options (&amp;#8220;NSO&amp;#8221;). The Company reserved 5,040,000
       ordinary shares for issuance under the 2000 Plan. Under the 2000
       Plan, which has expired during 2010, options granted generally
       vest 25% after the first year of service and ratably each month
       over the remaining
       &lt;font style="white-space: nowrap"&gt;36-month&lt;/font&gt;
       period.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In December 2008, the Company amended the 2000 Plan by adding a
       new section regarding adjustment of exercise price. The exercise
       price per share subject to an option might be amended or
       adjusted in the absolute discretion of the 2000 Plan
       administrator, which was the Board of Directors, and the
       determination of which should be final, binding and conclusive.
       A downward adjustment of the exercise prices should be effective
       without the approval of the Company&amp;#8217;s shareholders or the
       approval of the affected grantees.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In December 2008, the Company adopted a share incentive plan
       (the &amp;#8220;2008 Plan&amp;#8221;). The 2008 Plan provides for the
       granting of share incentives, which include incentive share
       option (&amp;#8220;ISO&amp;#8221;), restricted shares and any other form
       of award pursuant to the 2008 Plan, to members of the board,
       employees and consultants of the Company. However, the Company
       may grant ISOs only to its employees. The Company has reserved
       3,428,777 ordinary shares for issuance under the 2008 Plan,
       which will expire in the year 2018. The vesting schedule, time
       and condition to exercise options will be determined by the
       compensation committee. The term of the options may not exceed
       ten years from the date of the grant, except that five years is
       the maximum term of an ISO granted to an employee who holds more
       than 10% of the voting power of the Company&amp;#8217;s share capital.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Under the 2008 Plan, the exercise price per share subject to an
       option may be amended or adjusted at the discretion of the
       compensation committee, the determination of which shall be
       final, binding and conclusive. To the extent not prohibited by
       applicable laws or exchange rules, a downward adjustment of the
       exercise prices shall be effective without the approval of the
       Company&amp;#8217;s shareholders or the approval of the affected
       grantees. If the Company grants an ISO to an employee who, at
       the time of that grant, owns shares representing more than 10%
       of the voting power of all classes of the Company&amp;#8217;s share
       capital, the exercise price cannot be less than 110% of the fair
       market value of the Company&amp;#8217;s ordinary shares on the date
       of that grant.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Starting from February&amp;#160;15, 2006, the Company has granted
       restricted Class&amp;#160;A ordinary shares (&amp;#8220;Restricted
       Shares&amp;#8221;) of the Company. Terms for Restricted Shares are
       the same as share options except that Restricted Shares do not
       require exercise and have a two to four years vesting term.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The following table summarizes the option activity for the year
       ended December&amp;#160;31, 2010:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="52%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="10%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=maindata --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Weighted&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Average&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Aggregate&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Weighted&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Remaining&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Intrinsic&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Number of&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Average&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Contractual&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Value (US$)&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Share Option&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Shares&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Exercise Price&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Life (Years)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Outstanding, December&amp;#160;31, 2009
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       154,674
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$110.80
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2.56
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       46,469
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Granted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       23,729
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$610.08
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Exercised
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (59,068
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$92.00
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Forfeited/Cancelled
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (19,175
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$133.49
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Expired
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (985
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$17.95
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Outstanding, December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       99,175
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$237.99
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2.57
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       72,164
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vested and expected to vest at December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       94,655
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$232.69
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2.52
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       69,375
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Exercisable at December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       55,089
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="top"&gt;
       US$115.11
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1.4
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       46,836
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The aggregate intrinsic value in the table above represents the
       difference between the Company&amp;#8217;s closing stock price on the
       last trading day in 2010 and the exercise price.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Total intrinsic value of options exercised for the three years
       ended December&amp;#160;31, 2008, 2009 and 2010 was
       RMB465.25&amp;#160;million, RMB340.13&amp;#160;million and
       RMB263.97&amp;#160;million (US$40.00&amp;#160;million), respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       As of December&amp;#160;31, 2010, there was RMB51.32&amp;#160;million
       (US$7.78&amp;#160;million) unrecognized share-based compensation
       cost related to share options. That deferred cost is expected to
       be recognized over a weighted-average vesting period of
       2.90&amp;#160;years. To the extent the actual forfeiture rate is
       different from original estimate, actual share-based
       compensation costs related to these awards may be different from
       the expectation.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       On February&amp;#160;11, 2009, the Company cancelled options
       previously granted to certain executives with the exercise price
       significantly higher than the fair market value at that time,
       and concurrently re-granted the same number of options at the
       then current fair market value. The vesting of the replacement
       option starts from the date of grant, and all other terms remain
       the same as the original option. The cancellation and re-grant
       was intended to provide incentives for these executives. In
       accordance with
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;718-10,&lt;/font&gt;
       the Company accounted for the cancellation of an award
       accompanied by the concurrent grant of a replacement award as a
       modification of the terms of the cancelled award. Therefore,
       incremental compensation cost was measured as the excess of the
       fair value of the replacement award over the fair value of the
       cancelled award at the cancellation date. The incremental cost
       resulting from the cancellation and replacement was
       US$0.60&amp;#160;million. The cost is being amortized on a
       straight-line basis over the vesting term of four years of the
       replacement option.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Restricted
       Shares&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Restricted shares activity for the year ended December&amp;#160;31,
       2010 was as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="77%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Weighted&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Average&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Number of&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Grant Date&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Restricted Shares&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Shares&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Fair Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Nonvested, December&amp;#160;31, 2009
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       47,694
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       224.34
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Granted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,390
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       701.15
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vested
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (37,312
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       220.09
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Forfeited
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (5,155
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       329.26
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Nonvested, December&amp;#160;31, 2010
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       49,617
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       US$
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       643.22
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       As of December&amp;#160;31, 2010, there was RMB162.53&amp;#160;million
       (US$24.63&amp;#160;million) unrecognized share-based compensation
       cost related to restricted shares. That deferred cost will be
       recognized over a weighted-average vesting period of
       2.66&amp;#160;years. To the extent the actual forfeiture rate is
       different from the original estimate, actual share-based
       compensation costs related to these awards may be different from
       the expectation.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The fair value of each option award was estimated on the date of
       grant using the Black-Scholes Method valuation model. The
       volatility assumption was estimated based on implied volatility
       and historical volatility of the Company&amp;#8217;s share price
       applying the guidance provided by ASC subtopic
       &lt;font style="white-space: nowrap"&gt;718-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;718-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Compensation-Stock Compensation: Overall&lt;/i&gt;. The Company
       considered the comparable data in 2008 because the Company had
       limited relevant historical information to support the expected
       volatility assumption as the Company has been a public company
       only since August 2005. The Company begins to estimate the
       volatility assumption solely based on its historical information
       since 2009. Assumptions about the expected term were based on
       the vesting and contractual terms and employee demographics. The
       risk-free rate for periods within the contractual life of the
       option is based on the U.S.&amp;#160;Treasury yield curve in effect
       at the time of grant.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The following table presents the assumptions used to estimate
       the fair values of the share options granted in the periods
       presented:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="53%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="16%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=maindata --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="7%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=maindata --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="16%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=maindata --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Risk-free interest rate
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       1.74%&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;2.60%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       1.18%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       0.61%&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;1.13%
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Dividend yield
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Expected volatility range
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       63.52%&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;70.82%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       85.43%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       64.76%&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;69.70%
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Weighted average expected volatility
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       66.54%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       85.43%
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       68.12%
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Expected life (in years)
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       1.63&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;2.64
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       2.65
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
       2.65&lt;font style="font-family: Symbol; font-variant: normal"&gt;&amp;#126;&lt;/font&gt;2.66
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In addition, the Company recognizes share-based compensation
       expense net of an estimated forfeiture rate and therefore only
       recognizes compensation cost for those shares expected to vest
       over the service period of the award. The estimation of the
       forfeiture rate is based primarily upon historical experience of
       employee turnover. To the extent the Company revises this
       estimate in the future, the share-based payments could be
       materially impacted in the year of revision, as well as in
       following years. During the year ended December&amp;#160;31, 2010,
       the estimated forfeiture rate decreased for the employee group
       primarily due to changes in historical employee turnover rates.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The exercise price of options granted during the years 2008,
       2009, and 2010 equaled the market price of the ordinary shares
       on the grant date. The weighted-average grant-date fair value of
       options granted during the years 2008, 2009, and 2010 was
       US$136.97, US$94.10, and US$279.69, respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The total fair value of shares vested during the years ended
       December&amp;#160;31, 2008, 2009 and 2010 was RMB37.57&amp;#160;million,
       RMB201.83&amp;#160;million, RMB237.71&amp;#160;million
       (US$36.02&amp;#160;million), respectively.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Total compensation cost recognized is as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="65%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
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   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Cost of revenues
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,542
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,374
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,302
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       955
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Selling, general and administrative
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       41,651
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       38,681
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       36,811
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,577
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Research and development
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       37,784
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       41,263
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       50,623
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,670
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Share-based compensation cost capitalized as part of internally
       used software in fixed assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,706
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,217
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       226
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       35
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       86,683
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       87,535
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       93,962
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,237
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
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   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
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   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
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   &lt;/b&gt;
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   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Statement of Position (SOP)
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<DESCRIPTION>IDEA: Goodwill and Intangible Assets
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USD ($)

USD ($) / shares

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   &lt;div style="margin-left: 0%"&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
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       &lt;td&gt;
       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;GOODWILL
       AND INTANGIBLE ASSETS&lt;/font&gt;&lt;/b&gt;
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Goodwill&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The changes in the carrying amount of goodwill are as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
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       &lt;td width="4%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="3%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
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   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance as of January 1
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       51,082
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       63,691
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,650
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Goodwill acquired
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,609
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Foreign currency translation adjustment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (5
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Balance as of December 31
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       63,691
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       63,686
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,649
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
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   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Intangible
       assets&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Intangible assets consist of the following:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="68%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;As of December&amp;#160;31, 2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Net&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Accumulated&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Amortization&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Finite-lived:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Land use right
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       97,611
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (5,043
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       92,568
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,825
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (14,567
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       258
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customer relationships
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       31,363
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (21,165
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-competition agreements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,115
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (936
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       179
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Software
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,814
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,616
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Contract-based assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       338
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (226
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       112
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,727
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (55
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,672
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       155,793
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (43,608
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       112,185
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Indefinite-lived:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,050
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,050
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       166,203
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (43,608
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       122,595
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="58%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="8%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;As of December&amp;#160;31, 2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Gross&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Net&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Net&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Accumulated&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;Carrying&lt;br /&gt;
       &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Amortization&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;Value&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="6" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Finite-lived:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Land use right
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       97,611
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,995
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       90,616
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13,730
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       14,860
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (14,774
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       86
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customer relationships
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       31,408
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (26,870
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,538
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       687
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-competition agreements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,115
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,062
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       53
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Software
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,131
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (3,572
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,559
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,297
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Contract-based assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       338
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (281
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       57
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,727
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (248
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,479
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       224
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       159,190
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (53,802
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       105,388
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15,968
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       &lt;b&gt;Indefinite-lived:&lt;/b&gt;
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,418
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,050
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,050
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       159
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,410
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,577
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       169,600
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (53,802
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       115,798
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       17,545
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;/div&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s indefinite-lived intangible assets include
       one domain name asset and the Company&amp;#8217;s trademark of
       &amp;#8220;BAIDU&amp;#8221;. This domain name asset was acquired in July
       2006 and is not subject to amortization, as the remaining useful
       life is indefinite. In addition, the Company&amp;#8217;s trademark of
       &amp;#8220;BAIDU&amp;#8221; qualified as a China well-known trademark by
       the State Trademark Office in March 2008. The registration costs
       were recorded as an intangible asset not subject to
       amortization, as the remaining useful life is indefinite.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Amortization expense for the years ended December&amp;#160;31, 2008,
       2009 and 2010 was RMB12.08&amp;#160;million, RMB10.73&amp;#160;million
       and RMB10.25&amp;#160;million (US$1.55&amp;#160;million), respectively.
       Estimated amortization expense relating to the existing
       intangible assets with finite lives for each of next five years
       is as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="85%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="2%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="2%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="2%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="2%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="3" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="3" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="7" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       For the year ending December&amp;#160;31,
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2011
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,944
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,204
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2012
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,455
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       827
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2013
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,488
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       680
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2014
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,166
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       480
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       2015
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,815
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       427
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Note</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Discloses the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain or loss on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final.  May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. This element may be used as a single block of text to include the entire intangible asset disclosure including data and tables.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 142
 -Paragraph 42, 43, 44, 45, 46, 47

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<SEQUENCE>119
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<DESCRIPTION>IDEA: Income Taxes (Tables)
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="55%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
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   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB &lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,360,326
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,907,575
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,321,910
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       654,834
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (196,147
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (224,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (260,747
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (39,507
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,164,179
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,683,121
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,061,163
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       615,327
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
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   &lt;!-- Begin Block Tagged Note Table: BIDU-20101231_note9_table2 - bidu:ComponentsOfIncomeTaxTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="60%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Current income tax
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       129,885
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       222,778
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       616,994
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       93,483
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Income tax refund due to reduced transitional tax rate
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (13,923
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,625
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,004
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Deferred income tax benefit
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (58,553
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (62,308
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (129,415
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (19,608
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Valuation allowance
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,739
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       51,470
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       55,041
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,340
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       116,071
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       198,017
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       535,995
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       81,211
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
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   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="57%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="7%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=05 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2008&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="14" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Expected taxation at PRC EIT statutory rate
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       291,045
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       420,780
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,015,329
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       153,837
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Effect of differing tax rates in different jurisdictions
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,533
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       5,101
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,416
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,275
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Permanent differences&amp;#160;&amp;#8212; non-taxable income
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (2,121
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,640
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (733
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (111
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Permanent differences&amp;#160;&amp;#8212; non-deductible expenses
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,703
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,001
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,935
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,656
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Tax incentives relating to R&amp;#038;D expenditures
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (17,848
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (9,125
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (22,925
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (3,473
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Effect of tax exemption and reduction inside PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (205,980
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (258,647
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (533,802
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (80,879
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Income tax refund due to overpaid provisional tax
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (13,923
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (6,625
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (1,004
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Addition of under-provided EIT for previous years
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,359
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,570
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Addition to valuation allowance
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       44,739
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       51,470
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       55,041
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,340
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Taxation for the year
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       116,071
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       198,017
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       535,995
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       81,211
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Effective tax rate
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9.97
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       %
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       11.76
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       %
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13.20
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       %
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       13.20
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       %
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Basic earnings per share for Class&amp;#160;A and Class&amp;#160;B
       ordinary shares effect of tax exemptions and reductions inside
       the PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6.02
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7.48
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.34
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2.32
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
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   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="69%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=lead --&gt;
       &lt;td width="6%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=03 type=hang1 --&gt;
       &lt;td width="3%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=gutter --&gt;
       &lt;td width="1%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=lead --&gt;
       &lt;td width="5%" align="right"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=body --&gt;
       &lt;td width="1%" align="left"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=04 type=hang1 --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2009&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Provision for doubtful receivables
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,103
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,964
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       298
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Fixed assets depreciation
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       37,800
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       41,089
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,225
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Net operating loss carry-forward
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       117,964
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       173,644
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,310
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Accrued expenses, payroll and others
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10,007
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       80,592
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       12,211
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Deferred tax assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       167,874
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       297,289
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       45,044
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Valuation allowance
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (124,918
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (179,959
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       (27,267
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       )
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Deferred tax assets, net
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42,956
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       117,330
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       17,777
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;/div&gt;
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</XBRL>
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<TYPE>XML
<SEQUENCE>120
<FILENAME>R26.xml
<DESCRIPTION>IDEA: Summary of Significant Accounting Policies (Policies)
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The consolidated financial statements include the financial
       statements of the Company, its subsidiaries and VIEs in which
       the Company holds all the variable interests of VIEs through
       Baidu Online. All inter-company transactions and balances
       between the Company, its subsidiaries and VIEs are eliminated
       upon consolidation. The Company has included the results of
       operations of acquired businesses from the respective dates of
       acquisition.
   &lt;/div&gt;
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 -Publisher FASB
 -Name FASB Interpretation (FIN)
 -Number 46R
 -Paragraph 4
 -Subparagraph c

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph k
 -Article 1

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 18
 -Paragraph 5, 6, 16-19

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02, 03
 -Article 3A

Reference 5: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph 2-6

Reference 6: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 140
 -Paragraph 46

Reference 7: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 18
 -Paragraph 20
 -Subparagraph a(2)

Reference 8: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name FASB Interpretation (FIN)
 -Number 46R
 -Paragraph 4
 -Subparagraph d

Reference 9: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Emerging Issues Task Force (EITF)
 -Number 97-2

Reference 10: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Emerging Issues Task Force (EITF)
 -Number 96-16

Reference 11: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name FASB Interpretation (FIN)
 -Number 46R
 -Paragraph 14, 15

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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The preparation of financial statements in conformity with
       accounting principles generally accepted in the United States
       requires management to make estimates and assumptions that
       affect the reported amounts of assets and liabilities and
       disclosures of contingent assets and liabilities at the date of
       the financial statements and the reported amounts of revenues
       and expenses during the period. Management evaluates estimates,
       including those
   related to the accounts receivable allowances, fair values of
       options to purchase the Company&amp;#8217;s ordinary shares, fair
       values of certain equity investments, and deferred tax valuation
       allowance, among others. Management bases the estimates on
       historical experience and on various other assumptions that are
       believed to be reasonable, the results of which form the basis
       for making judgments about the carrying values of assets and
       liabilities. Actual results could differ from these estimates.
   &lt;/div&gt;
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</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Provides an entity's explanation that the preparation of financial statements in conformity with generally accepted accounting principles requires the use of management estimates. Estimates used in the determination of carrying amounts of assets or liabilities, or in disclosure of gain or loss contingencies should be disclosed if known information available prior to issuance of the financial statements indicates that both of these criteria are met: (1) It is at least reasonably possible that the estimate of the effect on the financial statements of a condition, situation, or set of circumstances that existed at the date of the financial statements will change in the near term (less than one year from the date of issuance) due to one or more future confirming events, and (2) The effect of the change would be material to the financial statements. The disclosure should indicate the nature of the uncertainty and include an indication that it is at least reasonably possible that a change in the estimate will occur in the near term. Disclosure of the factors that cause the estimate to be sensitive to change also is encouraged. Entities also may identify those areas that are subject to significant estimates.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Use of Estimates</Label></Row><Row><Id>5</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s functional currency is the US$. The
       Company&amp;#8217;s subsidiaries and VIEs determine their functional
       currencies based on the criteria of ASC subtopic
       &lt;font style="white-space: nowrap"&gt;830-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;830-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Foreign Currency Matters: Overall&lt;/i&gt;, and have determined
       their functional currencies to be their respective local
       currency. The Company uses the RMB as its reporting currency.
       The Company uses the average exchange rate for the year and the
       exchange rate at the balance sheet date to translate its
       operating results and financial position, respectively. Any
       translation gains (losses) are recorded in accumulated other
       comprehensive income (loss) as a component of shareholders&amp;#8217;
       equity. Transactions denominated in foreign currencies are
       translated into the functional currency at the exchange rates
       prevailing on the transaction dates. Assets and liabilities
       denominated in foreign currencies are translated into the
       functional currency at the exchange rates prevailing at the
       balance sheet date. Exchange gains and losses are included in
       the consolidated statements of income as a component of other
       income.
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   &lt;!-- Begin Block Tagged</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes a reporting enterprise's accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 52
 -Paragraph 5, 7-20, 80

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Foreign Currency</Label></Row><Row><Id>6</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_CashAndCashEquivalentsPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Cash
       and Cash Equivalents&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Cash and cash equivalents are stated at cost, which approximates
       fair value, and primarily consist of cash and investments in
       interest bearing demand deposit accounts, time deposits, highly
       liquid investments and money market funds. All highly liquid
       investments with original maturities of three months or less
       from the date of purchase are classified as cash equivalents.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Restricted
       Cash&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Restricted cash consists of the cash balances deposited by the
       customers of the Company&amp;#8217;s
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In 2008, the Company introduced an
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform and an online payment platform which enables
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       merchants and customers to send and receive payments online.
       Cash balances deposited by the customers of the Company&amp;#8217;s
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform are considered restricted because they cannot be used
       for the operations of the Group or any other purpose not
       designated by customers. When customers fund their accounts in
   the
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform using their bank accounts, the deposited balance is
       included in the Company&amp;#8217;s bank account until customers
       either use the cash to settle their online transactions or
       withdraw the cash.
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>A description of a company's cash and cash equivalents accounting policy.  An entity shall disclose its policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Cash includes currency on hand as well as demand deposits with banks or financial institutions.  It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty.  In addition, cash equivalents include short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.  Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment.  For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents.  However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months.  For a bank, may include explanation and amount of requirement to maintain reserves against deposits.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Financial Reporting Release (FRR)
 -Number 203
 -Paragraph 02-03

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 1
 -Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 7, 8, 9, 10

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Technical Practice Aid (TPA)
 -Number 2110
 -Paragraph 6

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Cash and Cash Equivalents</Label></Row><Row><Id>7</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_InvestmentPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table3 - us-gaap:InvestmentPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Short-Term
       Investments&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       All highly liquid investments with original maturities of
       greater than three months, but less than 12&amp;#160;months, are
       classified as short-term investments which are stated at their
       approximate fair value. The Company accounts for short-term
       investments in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;320-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;320-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Investments&amp;#160;&amp;#8212; Debt and Equity Securities: Overall.
       &lt;/i&gt;The Company classifies the short-term investments in debt
       and equity securities as
       &lt;font style="white-space: nowrap"&gt;&amp;#8220;held-to-maturity&amp;#8221;,&lt;/font&gt;
       &amp;#8220;trading&amp;#8221; or
       &lt;font style="white-space: nowrap"&gt;&amp;#8220;available-for-sale&amp;#8221;,&lt;/font&gt;
       whose classification determines the respective accounting
       methods stipulated by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;320-10.&lt;/font&gt;
       Dividend and interest income, including amortization of the
       premium and discount arising at acquisition, for all categories
       of investments in securities are included in earnings. Any
       realized gains or losses on the sale of the short-term
       investments are determined on a specific identification method,
       and such gains and losses are reflected in the consolidated
       statements of income.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The securities that the Company has positive intent and ability
       to hold to maturity are classified as
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities and stated at amortized cost. For individual
       securities classified as
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities, the Company evaluates whether a decline in fair
       value below the amortized cost basis is other than temporary in
       accordance with the Company&amp;#8217;s policy and
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;320-10.&lt;/font&gt;
       If the Company concludes that it does not intend or is not
       required to sell an impaired debt security before the recovery
       of its amortized cost basis, the impairment is considered
       temporary and the
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       securities continue to be recognized at the amortized costs.
       When the Company intends to sell an impaired debt security or it
       is more likely than not that it will be required to sell prior
       to recovery of its amortized cost basis, an
       &lt;font style="white-space: nowrap"&gt;other-than-temporary&lt;/font&gt;
       impairment is deemed to have occurred. In these instances, the
       &lt;font style="white-space: nowrap"&gt;other-than-temporary&lt;/font&gt;
       impairment loss is recognized in the consolidated statements of
       income equal to the entire excess of the debt security&amp;#8217;s
       amortized cost basis over its fair value at the balance sheet
       date of the reporting period for which the assessment is made.
       When the Company does not intend to sell an impaired debt
       security and it is more likely than not that it will not be
       required to sell prior to recovery of its amortized cost basis,
       the Company must determine whether or not it will recover its
       amortized cost basis. If the Company concludes that it will not,
       an
       &lt;font style="white-space: nowrap"&gt;other-than-temporary&lt;/font&gt;
       impairment exists and that portion of the credit loss is
       recognized in the consolidated statements of income, while the
       portion of loss related to all other factors is recognized in
       other comprehensive income.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The securities that are bought and held principally for the
       purpose of selling them in the near term are classified as
       trading securities. Unrealized holding gains and losses for
       trading securities are included in earnings.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Investments not classified as trading or as
       &lt;font style="white-space: nowrap"&gt;held-to-maturity&lt;/font&gt;
       are classified as
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities.
       &lt;font style="white-space: nowrap"&gt;Available-for-sale&lt;/font&gt;
       investment is reported at fair value, with unrealized gains and
       losses recorded in accumulated other comprehensive income in
       shareholders&amp;#8217; equity. Realized gains or losses are charged
       to earnings during the period in which the gain or loss is
       realized. An impairment loss on the
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       debt securities would be recognized in the consolidated
       statements of income when the decline in value is determined to
       be
       &lt;font style="white-space: nowrap"&gt;other-than-temporary.&lt;/font&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Long-term
       Investments&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s long-term investments consist of cost method
       investments, equity method investments and
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;325-20&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;325-20&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Investments-Other: Cost Method Investments&lt;/i&gt;, for
       investments in an investee over which the Company does not have
       significant influence, the Company carries the investment at
       cost and only adjusts for
       &lt;font style="white-space: nowrap"&gt;other-than-temporary&lt;/font&gt;
       declines in fair value and distributions of earnings. The
   management regularly evaluates the impairment of the cost method
       investments based on performance and financial position of the
       investee as well as other evidence of market value. Such
       evaluation includes, but is not limited to, reviewing the
       investee&amp;#8217;s cash position, recent financing, projected and
       historical financial performance, cash flow forecasts and
       financing needs. An impairment loss is recognized in the
       consolidated statements of income equal to the excess of the
       investment&amp;#8217;s cost over its fair value at the balance sheet
       date of the reporting period for which the assessment is made.
       The fair value would then become the new cost basis of
       investment.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Investments in entities in which the Company can exercise
       significant influence but does not own a majority equity
       interest or control are accounted for using the equity method of
       accounting in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;323-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;323-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Investments-Equity Method and Joint Ventures: Overall&lt;/i&gt;.
       Under the equity method, the Company initially records its
       investment at cost and adjusts the carrying amount of the
       investment to recognize the Company&amp;#8217;s proportionate share
       of each equity investee&amp;#8217;s net income or loss into
       consolidated statements of income after the date of acquisition.
       The difference between the cost of the equity investee and the
       amount of the underlying equity in the net assets of the equity
       investee is recognized as equity method goodwill included in
       equity method investment on the consolidated balance sheets. The
       Company evaluates the equity method investments for impairment
       under
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;323-10.&lt;/font&gt;
       An impairment loss on the equity method investments is
       recognized in the consolidated statements of income when the
       decline in value is determined to be
       &lt;font style="white-space: nowrap"&gt;other-than-temporary.&lt;/font&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s long-term investments in
       &lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities are the investments which are neither classified as
       cost method investments nor equity method investments. In
       accordance with
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;320-10,&lt;/font&gt;
       &lt;i&gt;Investments&amp;#160;&amp;#8212; Debt and Equity Securities: Overall,
       &lt;/i&gt;&lt;font style="white-space: nowrap"&gt;available-for-sale&lt;/font&gt;
       securities are reported at fair value, with unrealized gains and
       losses recorded in accumulated other comprehensive income in
       shareholders&amp;#8217; equity. Realized gains or losses are charged
       to earnings during the period in which the gain or loss is
       realized.
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policies for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the description may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 115
 -Paragraph 7-16

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 2, 12
 -Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Staff Accounting Bulletin (SAB)
 -Number Topic 5
 -Section M

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name FASB Staff Position (FSP)
 -Number FAS115-1/124-1
 -Paragraph 7-18

Reference 5: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 107
 -Paragraph 10, 11

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Investments</Label></Row><Row><Id>8</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>bidu_FairValueOfFinancialInstrumentsPolicyTextBlock</ElementName><ElementPrefix>bidu</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>Describes an entity's accounting policy for determining the fair values of its financial instruments.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table4 - bidu:FairValueOfFinancialInstrumentsPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Financial instruments include cash and cash equivalents,
       short-term investments, accounts receivable, accounts payable
       and accrued liabilities, customer advances and deposits,
       deferred revenue, deferred income and loans payable. The
       carrying amounts of these financial instruments except for loans
       payable approximate fair value because of their generally short
       maturities. The carrying amount of loans payable approximates
       its fair value due to the fact that the related interest rates
       are reset each year based on prevailing market interest rates.
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policy for determining the fair values of its financial instruments.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Fair Value Measurements of Financial Instruments</Label></Row><Row><Id>9</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_ResearchDevelopmentAndComputerSoftwarePolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table5 - us-gaap:ResearchDevelopmentAndComputerSoftwarePolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Capitalization
       of Software Developed for Internal Use&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company has capitalized certain internal use software
       development costs in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;350-40&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;350-40&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Intangibles-Goodwill and Other: Internal-Use Software&lt;/i&gt;,
       amounting to RMB19.49&amp;#160;million, RMB12.59&amp;#160;million and
       RMB10.38&amp;#160;million (US$1.57&amp;#160;million) for the years ended
       December&amp;#160;31, 2008, 2009 and 2010, respectively. The Company
       capitalizes certain costs relating to software acquired,
       developed, or modified solely to meet the Company&amp;#8217;s
       internal requirements and for which there are no substantive
       plans to market the software. These costs mainly include payroll
       and payroll-related costs for employees who are directly
       associated with and who devote time to the internal-use software
       projects during the application development stage. Capitalized
       internal-use software costs are included in fixed assets, net.
       The amortization expense for capitalized software costs amounted
       to RMB3.44&amp;#160;million, RMB9.77&amp;#160;million and
       RMB8.86&amp;#160;million (US$1.34&amp;#160;million) for the years ended
       December&amp;#160;31, 2008, 2009 and 2010, respectively. The
       unamortized amount of capitalized internal use software
       development costs was RMB26.16&amp;#160;million and
       RMB15.28&amp;#160;million (US$2.32&amp;#160;million) as of
       December&amp;#160;31, 2009 and 2010, respectively.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
   &lt;!-- END PAGE WIDTH --&gt;
   &lt;!-- PAGEBREAK --&gt;
   &lt;div style="margin-left: 0%"&gt;
   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Research
       and Development Expenses&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Research and development expenses consist primarily of
       personnel-related costs. The Company has expensed substantially
       all development costs included in the research and development
       of products and new functionality added to the existing products
       as incurred, except for certain internal-use software and
       certain core technologies with alternative future uses.
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
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   &lt;!-- Begin Block Tagged</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policy for its research and development and computer software activities including the accounting treatment for costs incurred for (1) research and development activities, (2) development of computer software for internal use, (3) computer software to be sold, leased or otherwise marketed as a separate product or as part of a product or process and (4) in-process research and development acquired in a purchase business combination.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 2
 -Paragraph 8, 12, 13

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 86
 -Paragraph 3-12

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name FASB Interpretation (FIN)
 -Number 4
 -Paragraph 4, 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Statement of Position (SOP)
 -Number 98-1
 -Paragraph 12, 17-38, 41

Reference 5: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Emerging Issues Task Force (EITF)
 -Number 00-2

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Research, Development, and Computer Software</Label></Row><Row><Id>10</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_PropertyPlantAndEquipmentPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table6 - us-gaap:PropertyPlantAndEquipmentPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Fixed assets are stated at cost less accumulated depreciation.
       Depreciation or amortization is recorded on a straight-line
       basis over the shorter of the estimated useful lives of the
       assets or the term of the related lease, as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="66%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="32%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=maindata --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 45&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office building related facility, machinery and equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 15&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Computer equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
       &amp;#8212; 3 or 5&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Internal use software development costs
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 3&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Office equipment
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
       &amp;#8212; 3 or 5&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Vehicles
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Leasehold improvements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -13pt; margin-left: 13pt"&gt;
       &amp;#8212; over the shorter of lease terms or estimated useful lives
       of the assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Fixed assets have no estimated residual value except for the
       office building and its related facility, machinery and
       equipment, which have an estimated residual value of 4% of the
       cost.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Repair and maintenance costs are charged to expense as incurred,
       whereas the cost of renewals and betterments that extend the
       useful life of fixed assets are capitalized as additions to the
       related assets. Retirements, sales and disposals of assets are
       recorded by removing the cost and accumulated depreciation from
       the asset and accumulated depreciation accounts with any
       resulting gain or loss reflected in the consolidated statements
       of income.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       All direct and indirect costs that are related to the
       construction of fixed assets and incurred before the assets are
       ready for their intended use are capitalized as construction in
       progress. Construction in progress is transferred to specific
       fixed assets items and depreciation of these assets commences
       when they are ready for their intended use.
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policy for property, plant and equipment which may include the basis of such assets, depreciation methods used and estimated useful lives, the entity's capitalization policy, including its accounting treatment for costs incurred for repairs and maintenance activities, whether such asset balances include capitalized interest and the method by which such is calculated, how disposals of such assets are accounted for and how impairment of such assets is assessed and recognized.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 43
 -Chapter 9
 -Section C
 -Paragraph 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 144
 -Paragraph 7

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 22
 -Paragraph 12, 13

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 34
 -Paragraph 8, 9

Reference 5: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 13
 -Subparagraph a
 -Article 5

Reference 6: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 5
 -Subparagraph d

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Fixed Assets</Label></Row><Row><Id>11</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_GoodwillAndIntangibleAssetsPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table7 - us-gaap:GoodwillAndIntangibleAssetsPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Goodwill
       &lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Goodwill represents the excess of the purchase price over the
       fair value of the identifiable net assets acquired in a business
       combination. The Company assesses goodwill for impairment in
       accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;350-20&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;350-20&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Intangibles&amp;#160;&amp;#8212; Goodwill and Other: Goodwill&lt;/i&gt;,
       which requires that goodwill be tested for impairment at the
       reporting unit level at least annually and more frequently upon
       the occurrence of certain events, as defined by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;350-20.&lt;/font&gt;
       Baidu&amp;#8217;s chief operating decision maker only reviews the
       Company&amp;#8217;s discrete financials at its consolidated level and
       there are no segment managers who are held accountable by the
       Company&amp;#8217;s chief operating officer or anyone else, for
       operations, operating results, and planning for levels or
       components below the consolidated level. Accordingly, consistent
       with the management&amp;#8217;s operational perspective, the Company
       determines that it has only one reporting unit. Goodwill was
       tested for impairment in the annual impairment tests on December
       31 in each year using the two-step process required by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;350-20.&lt;/font&gt;
       First, the Company reviewed the carrying amount of the reporting
       unit compared to the &amp;#8220;fair value&amp;#8221; of the reporting
       unit based on quoted market prices of the ordinary shares. If
       the fair value of the reporting unit exceeds the carrying value
       of the reporting unit, goodwill is not impaired and the Company
       is not required to perform further testing. If the carrying
       value of the
   reporting unit exceeds the fair value of the reporting unit,
       then the Company must perform the second step of the impairment
       test in order to determine the implied fair value of the
       reporting unit&amp;#8217;s goodwill. That is, the Company would then
       prepare the discounted cash flow analyses. Such analyses are
       based on cash flow assumptions that are consistent with the
       plans and estimates being used to manage the business. An excess
       carrying value compared to fair value would indicate that
       goodwill may be impaired. Finally, if the Company determined
       that goodwill may be impaired, the implied fair value of the
       goodwill, as defined by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;350-20,&lt;/font&gt;
       would be compared to its carrying amount to determine the
       impairment loss, if any. There has been no impairment of
       goodwill in any of the years presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Intangible
       Assets &lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Intangible assets with finite lives are carried at cost less
       accumulated amortization. The land use right is amortized using
       a straight-line method over the shorter of its estimated
       economic life or the term of related land use right contract.
       All other intangible assets with finite lives are amortized
       using the straight-line method over the estimated economic life.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Intangible assets have weighted average useful lives from the
       date of purchase as follows:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent; text-align: left"&gt;
   &lt;!-- Table Width Row BEGIN --&gt;
   &lt;tr style="font-size: 1pt" valign="bottom"&gt;
       &lt;td width="87%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=01 type=maindata --&gt;
       &lt;td width="2%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=gutter --&gt;
       &lt;td width="11%"&gt;&amp;#160;&lt;/td&gt;&lt;!-- colindex=02 type=maindata --&gt;
   &lt;/tr&gt;
   &lt;!-- Table Width Row END --&gt;
   &lt;!-- TableOutputHead --&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Domain names
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5.0&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Customer relationships
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 4.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Non-competition agreements
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 3.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Software
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 5.9&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Contract-based assets
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 2.3&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Trademark
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
       &amp;#8212; 9.6&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="top"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Land use right
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td align="left" valign="bottom"&gt;
       &amp;#8212; 50&amp;#160;years
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Intangible assets with an indefinite useful life are not
       amortized. There have been no impairment charges on the
       Company&amp;#8217;s intangible assets with finite useful lives in any
       of the years presented.
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       If the intangible assets that are not being amortized are
       subsequently determined to have a finite useful life, the assets
       will be tested for impairment in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;350-30&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;350-30&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Intangibles-Goodwill and Other: General Intangibles Other
       than Goodwill&lt;/i&gt;, and then amortized prospectively over their
       estimated remaining useful lives and accounted for in the same
       manner as other intangible assets that are subject to
       amortization. Intangible assets with indefinite useful lives are
       tested for impairment annually or more frequently if events or
       changes in circumstances indicate that they might be impaired.
       There have been no impairment charges on the Company&amp;#8217;s
       intangible assets with indefinite useful lives in any of the
       years presented.
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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 144
 -Paragraph 7-18, 22

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 142
 -Paragraph 4, 11-23, 26, 34

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   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company evaluates long-lived assets, such as fixed assets
       and purchased or internally developed intangible assets with
       finite lives, for impairment whenever events or changes in
       circumstances indicate the carrying value of an asset may not be
       recoverable in accordance with ASC subtopic
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       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;360-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Property, Plant and Equipment: Overall&lt;/i&gt;. When such events
       occur, the Company assesses the recoverability of the assets
       group based on the undiscounted future cash flow the assets
       group is expected to generate and recognizes an impairment loss
       when estimated undiscounted future cash flow expected to result
       from the use of the assets group plus net proceeds expected from
       disposition of the assets group, if any, is less than the
       carrying value of the assets group. If the Company identifies an
       impairment, the Company reduces the carrying amount of the
       assets group to its estimated fair value based on a discounted
       cash flow approach or, when available and appropriate, to
       comparable market values. The Company uses estimates and
       judgments in its impairment tests and if different estimates or
       judgments had been utilized, the timing or the amount of any
       impairment charges could be different. Asset groups to be
       disposed of would be reported at the lower of the carrying
       amount or fair value less costs to sell, and no longer
   depreciated. The assets and liabilities of a disposal group
       classified as held for sale would be presented separately in the
       appropriate asset and liability sections of the balance sheet.
   &lt;/div&gt;
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   &lt;!-- Begin Block Tagged</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
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 -Name Staff Accounting Bulletin (SAB)
 -Number Topic 5
 -Section CC
 -Subsection 3

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 144
 -Paragraph 7-15, 26, 30-37

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   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Accounts receivable are recognized and carried at original
       invoiced amount less an allowance for any potential
       uncollectible amounts. An estimate for doubtful debts is made
       when collection of the full amount is no longer probable. Bad
       debts are written off as incurred. The Company generally does
       not require collateral from its customers.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company maintains allowances for doubtful accounts for
       estimated losses resulting from the failure of customers to make
       payments on time. The Company reviews the accounts receivable on
       a periodic basis and makes general and specific allowances when
       there is doubt as to the collectibility of individual balances.
       In evaluating the collectibility of individual receivable
       balances, the Company considers many factors, including the age
       of the balance, the customer&amp;#8217;s historical payment history,
       its current credit-worthiness and current economic trends.
   &lt;/div&gt;
   &lt;/div&gt;
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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 3-5
 -Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 114
 -Paragraph 20
 -Subparagraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Emerging Issues Task Force (EITF)
 -Number 92-5

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Statement of Position (SOP)
 -Number 01-6
 -Paragraph 13

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Accounts Receivable</Label></Row><Row><Id>14</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_RevenueRecognitionPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table10 - us-gaap:RevenueRecognitionPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company recognizes revenue based on the following principles:
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Online
       marketing services&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (1)&amp;#160;Auction-based
       &lt;font style="white-space: nowrap"&gt;pay-for-performance&lt;/font&gt;
       service
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s auction-based
       &lt;font style="white-space: nowrap"&gt;pay-for-performance&lt;/font&gt;
       (&amp;#8220;P4P&amp;#8221;) platform enables a customer to place its
       website link and related description on the Company&amp;#8217;s
       search result list. The customers make bids on keywords based on
       how much they are willing to pay for each click to their
       listings in the search results listed on the Company&amp;#8217;s
       website and the relevance between the keywords and the
       customer&amp;#8217;s businesses. Internet users&amp;#8217; search of the
       keyword will trigger the display of the listings. The ranking of
       the customer&amp;#8217;s listing depends on both the bidding price
       and the listing&amp;#8217;s relevance to the keyword searched.
       Customer pays the Company only when a user clicks on one of its
       website links. Revenue is recognized when a user clicks on one
       of the customer-sponsored website links, as there is persuasive
       evidence of an arrangement, the fee is fixed or determinable and
       collection is reasonably assured, as prescribed by ASC subtopic
       &lt;font style="white-space: nowrap"&gt;605-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue Recognition: Overall&lt;/i&gt;.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For certain P4P customers engaged through direct sales, the
       Company may provide certain value-added consultative support
       services to help its customers to better utilize its P4P online
       marketing system. Fees for such services are recognized as
       revenue on a pro-rata basis over the contracted service period.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (2)&amp;#160;Other performance-based online marketing services
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       To the extent the Company provides online marketing services
       based on performance criteria other than click-throughs, such as
       the number of telephone calls brought to its customers, the
       number of users registered with its customers, or the number of
       minimum click-throughs, revenue is recognized when the specified
       performance criteria are met together with satisfaction of other
       applicable revenue recognition criteria as prescribed by
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;605-10.&lt;/font&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (3)&amp;#160;Time-based online advertising services
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For time-based online advertising services such as text links,
       banners, or other forms of graphical advertisements, the Company
       recognizes revenue, in accordance with
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;605-10,&lt;/font&gt;
       on a pro-rata basis over the contractual term commencing on the
       date the customer&amp;#8217;s advertisement is displayed in a
       specified webpage. For certain time-based contractual
       agreements, the Company may also provide certain performance
       guarantees, in which cases revenue is recognized at the later of
       the completion of the time commitment or performance guarantee.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
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   &lt;!-- BEGIN PAGE WIDTH --&gt;
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   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (4)&amp;#160;Online marketing services involving Baidu Union
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Baidu Union is the program through which the Company expands
       distribution of its customers&amp;#8217; sponsored links or
       advertisements by leveraging traffic of the Baidu Union
       members&amp;#8217; internet properties. The Company makes payments to
       Baidu Union members for acquisition of traffic. The Company
       recognizes gross revenue for the amount of fees it receives from
       its customers. Payments made to Baidu Union members are included
       in cost of revenues as traffic acquisition costs.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (5)&amp;#160;Barter transactions
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company engages in barter transactions from time to time and
       in such situations follows the guidance set forth in ASC
       subtopic
       &lt;font style="white-space: nowrap"&gt;845-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;845-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Nonmonetary Transactions: Overall&lt;/i&gt;. While nonmonetary
       transactions are generally recorded at fair value, if such value
       is not determinable within reasonable limits, the transaction is
       recognized based on the carrying value of the product or
       services provided. The amount of revenues recognized for barter
       transactions was insignificant for each of the periods presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In addition, the Company recognized revenues for barter
       transactions involving advertising in accordance with ASC
       subtopic
       &lt;font style="white-space: nowrap"&gt;605-20&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-20&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue recognition: Services&lt;/i&gt;. However, neither the
       amount recognized nor the volume of such transactions qualified
       for income recognition was material for any of the periods
       presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In certain instances, the Company may be granted equity
       instruments in exchange for services. In accordance with ASC
       subtopic
       &lt;font style="white-space: nowrap"&gt;505-50&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;505-50&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Equity: Equity-based Payments to Non-Employees&lt;/i&gt;, if the
       Company provides services in exchange for equity instruments,
       the Company measures the fair value of those equity instruments
       for revenue recognition purposes as of the earlier of either of
       the following dates:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="4%"&gt;&lt;/td&gt;
       &lt;td width="2%"&gt;&lt;/td&gt;
       &lt;td width="94%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       The date the parties come to a mutual understanding of the terms
       of the equity-based compensation arrangement and a commitment
       for performance by the Company to earn the equity instruments is
       reached;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 6pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       The date at which the Company&amp;#8217;s performance necessary to
       earn the equity instruments is completed.
   &lt;/td&gt;
   &lt;/tr&gt;
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       If, as of the measurement date, the fair value of the equity
       instruments received is not determinable within reasonable
       limits, the transaction is recognized based on the fair value of
       the services provided. If the fair value of both the equity
       instruments received and the services provided cannot be
       determined, no revenue is recognized for the services provided
       and the equity instrument received is recorded at zero carrying
       value. The amount of revenues recognized for such transactions
       was insignificant in each of the years presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       (6)&amp;#160;Other revenue recognition related policies
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       If a sales arrangement involves multiple deliverables, and the
       arrangement is divided into separate units of accounting in
       accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;605-25&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-25&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue recognition: Multiple-Element Arrangements&lt;/i&gt;, the
       total revenue on such arrangement is allocated to the individual
       deliverables based on their relative fair values. If sufficient
       vendor-specific objective evidence of fair value does not exist
       for the allocation of revenue, the fee for the entire
       arrangement is recognized ratably over the term of the
       arrangement or upon the delivery of the last deliverable, when
       other revenue recognition criteria have been met.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company delivers some of its online marketing services to
       end customers through engaging third party distributors. In this
       context, the Company may provide cash incentives to
       distributors. The cash incentives are accounted for as reduction
       of revenue in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;605-50&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-50&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue recognition: Customer Payments and Incentives&lt;/i&gt;.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company provides sales incentives to customers to entitle
       customers to receive reductions in the price of the online
       marketing services by meeting certain cumulative consumption
       requirements. The Company accounts for these award credits
       granted to members in conjunction with a current sale of
       products or services as a multiple-element arrangement by
       analogizing to ASC
       &lt;font style="white-space: nowrap"&gt;605-25.&lt;/font&gt; The
       consideration allocated to the award credits, as deferred
       revenue is based on an assumption that the customer will
       purchase the minimum amount of future service necessary
   to obtain the maximum award credits available. The deferred
       revenue is recognized as revenue proportionately as the future
       services are delivered to the customer or when the loyalty
       points expire.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Cash received in advance from customers is recorded as customer
       advances and deposits. The unused cash balances remaining in
       customers&amp;#8217; accounts are included as a liability of the
       Company. Deferred revenue is recorded when services are provided
       before the other revenue recognition criteria set forth in
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;605-10&lt;/font&gt;
       are fulfilled.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company operates an online game platform, on which
       registered users could access games provided by online game
       developers. The rights and obligations of each party to the
       arrangement indicate that the Company is acting as an agent
       whereas the online game developer is the principal as a result
       of being the primary obligor in the arrangement. The Company
       recognizes the shared revenue, on a net basis, based on the
       ratios pre-determined with the online game developers when all
       the revenue recognition criteria set forth in
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;605-10&lt;/font&gt;
       are met, which is generally when the user purchases virtual
       currencies issued by the game developers through the
       Company&amp;#8217;s payment channel. The amount of revenues
       recognized was not significant in each of the years presented.
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
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 -Publisher SEC
 -Name Staff Accounting Bulletin (SAB)
 -Number Topic 13
 -Section B
 -Paragraph Question 1

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 22
 -Paragraph 8, 12, 13

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   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Cost of revenues consists primarily of business taxes and
       surcharges, traffic acquisition costs, bandwidth costs,
       depreciation, payroll and related costs of operations.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company incurs business taxes and surcharges in connection
       with the provision of online marketing services, technical and
       consultative service fees charged by Baidu Online to VIEs and
       other taxable services in the PRC. According to ASC subtopic
       &lt;font style="white-space: nowrap"&gt;605-45&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-45&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue Recognition: Principal Agent Considerations&lt;/i&gt;, the
       Company includes the business tax and surcharges incurred on its
       online marketing revenues in cost of revenues. The business tax
       and surcharges in cost of revenues for the years ended
       December&amp;#160;31, 2008, 2009 and 2010 were
       RMB200.09&amp;#160;million, RMB275.92&amp;#160;million and
       RMB504.85&amp;#160;million (US$76.49&amp;#160;million), respectively.
       Traffic acquisition costs represent the amounts paid or payable
       to Baidu Union members who direct search queries to the
       Company&amp;#8217;s websites or distribute the Company&amp;#8217;s
       customers&amp;#8217; paid links through their properties. These
       payments are primarily based on revenue sharing arrangements
       under which the Company pays its Baidu Union members a
       percentage of the fees it earns from its online marketing
       customers.
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policies for recognition of costs in the period which correspond to the sales and revenue categories presented in the statement of operations. Description may include the amount and nature of costs incurred, provisions associated with inventories, purchase discounts, freight and other costs included in cost of sales incurred and recorded in the period. This description also includes the nature of costs of sales incurred and recorded in the statement of operations for the period relating to transactions with related parties.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 2
 -Article 5

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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Advertising expenses, primarily advertisements through various
       forms of media, are included in &amp;#8220;Selling, general and
       administrative expense&amp;#8221; in the consolidated statements of
       income and are expensed when incurred. Advertising expenses for
       the years ended December&amp;#160;31, 2008, 2009 and 2010 were
       RMB29.22&amp;#160;million, RMB77.80&amp;#160;million and
       RMB74.76&amp;#160;million (US$11.33&amp;#160;million), respectively.
   &lt;/div&gt;
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   &lt;!-- Begin Block Tagged</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policy for advertising costs. For those costs that cannot be capitalized, discloses whether such costs are expensed as incurred or the first period in which the advertising takes place. For direct response advertising costs that are capitalized, describes those assets and the accounting policy used, including a description of the qualifying activity, the types of costs capitalized and the related amortization period. An entity also may disclose its accounting policy for cooperative advertising arrangements.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Statement of Position (SOP)
 -Number 93-7
 -Paragraph 49

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Emerging Issues Task Force (EITF)
 -Number 02-16
 -Paragraph 6

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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
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       Other income, net consists primarily of interest income,
       government subsidies, impairment of long-term investments and
       non-operating expenses. Interest income is mainly generated from
       bank deposits and other interest-earning financial assets and is
       recognized on an accrual basis. Other income, net primarily
       consists of financial subsidies received from provincial and
       local governments for operating a business in their
       jurisdictions and compliance with specific policies promoted by
       the local governments. During the years ended December&amp;#160;31,
       2008, 2009 and 2010, the Group received financial subsidies of
       RMB22.72&amp;#160;million, RMB42.50&amp;#160;million and
       RMB49.14&amp;#160;million (US$7.45&amp;#160;million), respectively, from
       various local PRC government authorities. There are no defined
       rules and regulations to govern the criteria necessary for
       companies to receive such benefits, and the amount of financial
       subsidy is determined at the discretion of the relevant
       government authorities. Such amounts are recorded as other
       income when received and there are no further conditions to be
       met before recognition.
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   &lt;!-- Begin Block Tagged</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Discloses other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that should be disclosed in this note, or in the income statement, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 3, 6, 7, 9
 -Article 5

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Other Income, net</Label></Row><Row><Id>18</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_LeasePolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
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   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Leases have been classified as either capital or operating
       leases. Leases that transfer substantially all the benefits and
       risks incidental to the ownership of assets are accounted for as
       if there was an acquisition of an asset and incurrence of an
       obligation at the inception of the lease. All other leases are
       accounted for as operating leases wherein rental payments are
       expensed as incurred. The Company had no capital leases for the
       years ended December&amp;#160;31, 2008, 2009 and 2010.
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policy for leasing arrangements (both lessor and lessee). This description may address (1) lease classification (that is, operating versus capital), (2) how the term of a lease is determined (for example, the circumstances in which a renewal option is considered part of the lease term), (3) how rental revenue or expense is recognized for a lease that contains rent escalations, (4) an entity's accounting treatment for deferred rent, including that which arises from lease incentives, rent abatements, rent holidays, or tenant allowances (5) an entity's accounting treatment for contingent rental payments and (6) an entity's policy for reviewing, at least annually, the residual values of sales-type and direct-finance leases. The description also may indicate how the entity accounts for its capital leases, leveraged leases or sale-leaseback transactions.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 13
 -Paragraph 6, 7-15, 17, 18, 19, 32, 34, 43-47

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 34
 -Paragraph 1

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 98
 -Paragraph 7

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Leases</Label></Row><Row><Id>19</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_IncomeTaxPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table15 - us-gaap:IncomeTaxPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company recognizes income taxes under the liability method.
       Deferred income taxes are recognized for differences between the
       financial reporting and tax bases of assets and liabilities at
       enacted tax rates in effect for the years in which the
       differences are expected to reverse. The Company records a
       valuation allowance against the amount of deferred tax assets
       that it determines is not more likely than not being realized.
       The effect on deferred taxes of a change in tax rates is
       recognized in income in the period that includes the enactment
       date.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company adopted the provisions of ASC subtopic
       &lt;font style="white-space: nowrap"&gt;740-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;740-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Income Taxes: Overall&lt;/i&gt;, on January&amp;#160;1, 2007.
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;740-10&lt;/font&gt;
       clarified the accounting for uncertainty in income taxes by
       prescribing the recognition threshold a tax position is required
       to meet before being recognized in the financial statements. The
       Company has elected to classify interest and penalties related
       to an uncertain tax position (if and when required) as part of
       income tax expense in the consolidated statements of income. As
       of and for the years ended December&amp;#160;31, 2008, 2009 and
       2010, no unrecognized tax benefits or interest and penalties
       associated with uncertainty in income taxes have been recognized.
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes an entity's accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 4
 -Paragraph 11

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name FASB Interpretation (FIN)
 -Number 48
 -Paragraph 20

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 109
 -Paragraph 6-34, 43, 47, 49

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Income Taxes</Label></Row><Row><Id>20</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_CompensationRelatedCostsPolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table16 - us-gaap:CompensationRelatedCostsPolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company adopted ASC subtopic
       &lt;font style="white-space: nowrap"&gt;718-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;718-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Compensation-Stock Compensation: Overall&lt;/i&gt;, using the
       modified prospective transition approach from January&amp;#160;1,
       2006. Pursuant to ASC
       &lt;font style="white-space: nowrap"&gt;718-10,&lt;/font&gt; the
       Company recognized share-based compensation expense over the
       requisite service periods for any share-based awards granted
       after January&amp;#160;1, 2006 based on the fair values of all
       share-based awards on the dates of grant.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company has elected to recognize share-based compensation
       after the date of adoption of
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;718-10&lt;/font&gt;
       using the straight-line method for all share-based awards
       issued. Forfeitures have been estimated based on historical
       experience and periodically reviewed. Cancellation of an award
       accompanied by the concurrent grant of a replacement award is
       accounted for as a modification of the terms of the cancelled
       award (&amp;#8220;modification awards&amp;#8221;). The compensation costs
       associated with the modification awards are recognized if either
       the original vesting condition or the new vesting condition has
       been achieved. Such compensation costs cannot be less than the
       grant-date fair value of the original award. The incremental
       compensation cost is measured as the excess of the fair value of
       the replacement award over the fair value of the cancelled award
       at the cancellation date. Therefore, in relation to the
       modification awards, the Company recognizes share-based
       compensation over the vesting periods of the new options, which
       comprises, (1)&amp;#160;the amortization of the incremental portion
       of share-based compensation over the remaining vesting term and
       (2)&amp;#160;any unrecognized compensation cost of original award,
       using either the original term or the new term, whichever is
       higher for each reporting period.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company accounts for share awards issued to non-employees in
       accordance with the provisions of ASC subtopic
       &lt;font style="white-space: nowrap"&gt;505-50&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;505-50&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Equity: Equity-based Payments to Non-Employees&lt;/i&gt;. Under ASC
       &lt;font style="white-space: nowrap"&gt;505-50,&lt;/font&gt; the
       Company uses the Black-Scholes option pricing model method to
       measure the value of options granted to non-employees at each
       vesting date to determine the appropriate charge to share-based
       compensation.
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;718-10&lt;/font&gt;
       also requires share-based compensation to be presented in the
       same manner as cash compensation rather than as a separate line
       item.
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak Begin --&gt;
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   &lt;!-- BEGIN PAGE WIDTH --&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 0pt; font-size: 1pt"&gt;
   &lt;/div&gt;
   &lt;div align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
   &lt;b&gt;
   &lt;font style="font-family: 'Times New Roman', Times"&gt;
   &lt;/font&gt;
   &lt;/b&gt;
   &lt;/div&gt;
   &lt;!-- XBRL Pagebreak End --&gt;
   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Describes the entity's accounting policies for salaries, bonuses, incentive awards, postretirement and postemployment benefits granted to its employees, including share-based arrangements; describes its methodologies for measurement, and the bases for recognizing related assets and liabilities and recognizing and reporting compensation expense.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 123R
 -Paragraph 4, 9-15, A240

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 132R
 -Paragraph 5, 6, 7, 9, 11, 12, 13

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Share-based Compensation</Label></Row><Row><Id>21</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_EarningsPerSharePolicyTextBlock</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table17 - us-gaap:EarningsPerSharePolicyTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company computes earnings per Class&amp;#160;A and Class&amp;#160;B
       ordinary shares in accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;260-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;260-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Earnings Per Share: Overall&lt;/i&gt;, using the two class method.
       Under the provisions of
       &lt;font style="white-space: nowrap"&gt;ASC&amp;#160;260-10,&lt;/font&gt;
       basic net income per share is computed using the weighted
       average number of ordinary shares outstanding during the period
       except that it does not include unvested ordinary shares subject
       to repurchase or cancellation. Diluted net income per share is
       computed using the weighted average number of ordinary shares
       and, if dilutive, potential ordinary shares outstanding during
       the period. Potentially dilutive securities have been excluded
       from the computation of diluted net income per share if their
       inclusion is anti-dilutive. Potential ordinary shares consist of
       the incremental ordinary shares issuable upon the exercise of
       stock options, restricted shares subject to forfeiture, and
       contracts that may be settled in the Company&amp;#8217;s stock or
       cash. The dilutive effect of outstanding stock options and
       restricted shares is reflected in diluted earnings per share by
       application of the treasury stock method. The computation of the
       diluted net income per share of Class&amp;#160;A ordinary shares
       assumes the conversion of Class&amp;#160;B ordinary shares, while
       the diluted net income per share of Class&amp;#160;B ordinary shares
       does not assume the conversion of those shares.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The liquidation and dividend rights of the holders of the
       Company&amp;#8217;s Class&amp;#160;A and Class&amp;#160;B ordinary shares are
       identical, except with respect to voting. As a result, and in
       accordance with ASC subtopic
       &lt;font style="white-space: nowrap"&gt;260-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;260-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Earnings Per Share: Overall&lt;/i&gt;, the undistributed earnings
       for each year are allocated based on the contractual
       participation rights of the Class A and Class&amp;#160;B ordinary
       shares as if the earnings for the year had been distributed. As
       the liquidation and dividend rights are identical, the
       undistributed earnings are allocated on a proportionate basis.
       Further, as the conversion of Class&amp;#160;B ordinary shares is
       assumed in the computation of the diluted net income per share
       of Class&amp;#160;A ordinary shares, the undistributed earnings are
       equal to net income for that computation.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For the purposes of calculating the Company&amp;#8217;s basic and
       diluted earnings per Class&amp;#160;A and Class B ordinary shares,
       the ordinary shares relating to the options that were exercised
       are assumed to have been outstanding from the date of exercise
       of such options.
   &lt;/div&gt;
   &lt;/div&gt;
</NonNumbericText><NonNumericTextHeader>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;
   &lt;!-- Begin Block Tagged</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Discloses the methodology and assumptions used to compute basic and diluted earnings (loss) per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
 -Paragraph 40
 -Subparagraph a

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
 -Paragraph 6, 8-16, 60

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   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table18 - us-gaap:ConcentrationRiskDisclosureTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Concentration
       of credit risk&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Financial instruments that potentially subject the Company to
       significant concentration of credit risk primarily consist of
       cash and cash equivalents, restricted cash, short-term
       investments and accounts receivable. The Company has
       RMB8.20&amp;#160;billion (US$1.24&amp;#160;billion) in cash and cash
       equivalents, restricted cash and short-term investments. The
       Company has approximately RMB8.06&amp;#160;billion
       (US$1.22&amp;#160;billion) in cash, bank deposits and money market
       funds in the PRC, which constitute about 98.29% of total cash
       and cash equivalents and short-term investments. In the event of
       bankruptcy of one of the financial institutions in which the
       Company has deposits or investments, it may be unlikely to claim
       its deposits or investments back in full.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Accounts receivable are typically unsecured and derived from
       revenue earned from customers and agents in China, which are
       exposed to credit risk. The risk is mitigated by credit
       evaluations the Company performs on its customers and its
       ongoing monitoring process of outstanding balances. The Company
       maintains reserves for estimated credit losses and these losses
       have generally been within its expectations.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Business
       and economic risks&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company participates in a dynamic high technology industry
       and believes that changes in any of the following areas could
       have a material adverse effect on the Company&amp;#8217;s future
       financial position, results of operations or cash flows: changes
       in the overall demand for services and products; changes in
       business offerings; competitive pressures due to new entrants;
       advances and new trends in new technologies and industry
       standards; changes in bandwidth suppliers; changes in certain
       strategic relationships or customer relationships; regulatory
   considerations; copyright regulations; and risks associated with
       the Company&amp;#8217;s ability to attract and retain employees
       necessary to support its growth.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       No customer or any Baidu Union member generated greater than 10%
       of total revenues in any of the periods presented.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s operations could be adversely affected by
       significant political, economic and social uncertainties in the
       PRC.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Currency
       convertibility risk&lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Substantially all of the Company&amp;#8217;s businesses are
       transacted in RMB, which is not freely convertible into foreign
       currencies. All foreign exchange transactions take place either
       through the People&amp;#8217;s Bank of China or other banks
       authorized to buy and sell foreign currencies at the exchange
       rates quoted by the People&amp;#8217;s Bank of China. Approval of
       foreign currency payments by the People&amp;#8217;s Bank of China or
       other regulatory institutions requires submitting a payment
       application form together with suppliers&amp;#8217; invoices,
       shipping documents and signed contracts.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;i&gt;&lt;u&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Foreign
       currency exchange rate risk &lt;/font&gt;&lt;/u&gt;&lt;/i&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company&amp;#8217;s exposure to foreign currency exchange rate
       risk primarily relates to cash and cash equivalents and
       short-term investments denominated in the U.S.&amp;#160;dollar. The
       functional currency of the Company is US$, and the reporting
       currency is RMB. Since July&amp;#160;21, 2005, the RMB has been
       permitted to fluctuate within a narrow and managed band against
       a basket of certain foreign currencies. On June&amp;#160;19, 2010,
       the People&amp;#8217;s Bank of China announced the end of the
       RMB&amp;#8217;s de facto peg to US$, a policy which was instituted in
       late 2008 in the face of the global financial crisis, to further
       reform the RMB exchange rate regime and to enhance the
       RMB&amp;#8217;s exchange rate flexibility. The exchange rate floating
       bands will remain the same as previously announced in the
       inter-bank foreign exchange market. The depreciation of the US$
       against RMB was approximately 3.31% in 2010. Any significant
       revaluation of RMB may materially and adversely affect the
       Company&amp;#8217;s cash flows, revenues, earnings and financial
       position, and the value of, and any dividends payable on, the
       ADS in U.S.&amp;#160;dollars. As a result, an appreciation of RMB
       against the U.S.&amp;#160;dollar would result in foreign currency
       translation losses when translating the net assets of the
       Company from the U.S.&amp;#160;dollar into RMB.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The functional currency of the subsidiaries in Japan is Japanese
       Yen (&amp;#8220;JPY&amp;#8221;), and the reporting currency is RMB. During
       2010, JPY appreciated by approximately 10.23% against RMB. The
       appreciation of JPY against RMB results in foreign currency
       translation gains when translating the net assets into RMB.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       For the years ended December&amp;#160;31, 2008, 2009 and 2010, the
       net foreign currency translation loss resulting from the
       translation from the respective functional currencies to the RMB
       reporting currency recorded in the Company&amp;#8217;s other
       comprehensive loss was RMB27.60&amp;#160;million,
       RMB3.96&amp;#160;million and RMB3.87&amp;#160;million
       (US$0.59&amp;#160;million), respectively.
   &lt;/div&gt;
   &lt;/div&gt;
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   &lt;!-- Begin Block Tagged</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:textBlockItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>Description of any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. The entity should inform financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. Disclosure of any financial instrument credit risk concentration also should indicate the maximum amount of loss that would be incurred upon complete failure of the counterparty to perform and the entity's collateral policies or other policies that limit the loss exposure. This element may be used as a single block of text to encapsulate the entire disclosure including data and tables.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 107
 -Paragraph 15A

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Statement of Position (SOP)
 -Number 94-6
 -Paragraph 21, 22, 24

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   &lt;!-- Begin Block Tagged Accounting Policy: BIDU-20101231_note2_accounting_policy_table19 - bidu:DescriptionOfNewAccountingPronouncementsNotYetAdoptedTextBlock--&gt;
   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In October 2009, the FASB issued ASU
       &lt;font style="white-space: nowrap"&gt;No.&amp;#160;2009-13&lt;/font&gt;
       (&amp;#8220;ASU
       &lt;font style="white-space: nowrap"&gt;2009-13&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Multiple-Deliverable Revenue Arrangements&lt;/i&gt;. ASU
       &lt;font style="white-space: nowrap"&gt;2009-13&lt;/font&gt;
       amends ASC
       &lt;font style="white-space: nowrap"&gt;sub-topic&lt;/font&gt;
       &lt;font style="white-space: nowrap"&gt;605-25&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;605-25&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Revenue Recognition: Multiple-Element Arrangements&lt;/i&gt;,
       regarding revenue arrangements with multiple deliverables. This
       standard addresses how to determine whether an arrangement
       involving multiple deliverables contains more than one unit of
       accounting, and how the arrangement consideration should be
       allocated among the separate units of accounting. This standard
       establishes a selling price hierarchy for determining the
       selling price of a deliverable, which is based on:
       (a)&amp;#160;vendor-specific objective evidence;
       (b)&amp;#160;third-party evidence; or (c)&amp;#160;estimated selling
       price. This standard also eliminates the residual method of
       allocation and requires that arrangement consideration be
       allocated at the inception of the arrangement to all
       deliverables using the relative selling price method. In
       addition, this standard significantly expands required
       disclosures related to a vendor&amp;#8217;s multiple-deliverable
       revenue arrangements. This standard is
   effective for fiscal years beginning after June&amp;#160;15, 2010
       and to be applied retrospectively or prospectively for new or
       materially modified arrangements. In addition, early adoption is
       permitted. The Company will adopt ASU
       &lt;font style="white-space: nowrap"&gt;2009-13&lt;/font&gt;
       beginning January&amp;#160;1, 2011 and the Company is in the process
       of assessing the impact of the adoption of the standard on its
       consolidated financial statements.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In April 2010, the FASB issued ASU
       &lt;font style="white-space: nowrap"&gt;No.&amp;#160;2010-13&lt;/font&gt;
       (&amp;#8220;ASU
       &lt;font style="white-space: nowrap"&gt;2010-13&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Compensation-Stock Compensation (&amp;#8220;&lt;/i&gt;ASC 718&amp;#8221;):
       &lt;i&gt;Effect of Denominating the Exercise Price of a Share-Based
       Payment Award in the Currency of the Market in Which the
       Underlying Equity Security Trades&lt;/i&gt;. The objective of this
       standard is to address the classification of an employee
       share-based payment award with an exercise price dominated in
       the currency of a market in which the underlying equity security
       trades. ASC&amp;#160;718 provides guidance on the classification of
       a share-based payment award as either equity or liability. A
       share-based payment award that contains a condition that is not
       a market, performance, or service condition is required to be
       classified as a liability. ASU
       &lt;font style="white-space: nowrap"&gt;2010-13&lt;/font&gt;
       provide amendments to ASC&amp;#160;718 to clarify that an employee
       share-based payment award with an exercise price denominated in
       the currency of a market in which a substantial portion of the
       entity&amp;#8217;s equity securities trades should not be considered
       to contain a condition that is not a market, performance, or
       service condition. Therefore, an entity would not classify such
       an award as a liability if it otherwise qualifies as equity.
       Then amendments in this standard are effective for fiscal years,
       and interim periods within those fiscal years, beginning on or
       after December&amp;#160;31, 2010. Early application is permitted.
       The Company does not expect the adoption of ASU
       &lt;font style="white-space: nowrap"&gt;2010-13&lt;/font&gt; will
       have a material impact on its consolidated financial statements.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In December 2010, the FASB issued ASU
       &lt;font style="white-space: nowrap"&gt;No.&amp;#160;2010-28&lt;/font&gt;
       (&amp;#8220;ASU
       &lt;font style="white-space: nowrap"&gt;2010-28&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Intangibles&amp;#160;&amp;#8212; Goodwill and Other &lt;/i&gt;(&amp;#8220;ASC
       350&amp;#8221;): &lt;i&gt;When to Perform Step 2 of the Goodwill Impairment
       Test for Reporting Units with Zero or Negative Carrying
       Amounts&lt;/i&gt;. The objective of this standard is to address
       questions about entities with reporting units with zero or
       negative carrying amounts because some entities concluded that
       Step 1 of the test is passed in those circumstances because the
       fair value of their reporting unit will generally be greater
       than zero. The amendments in this standard modify Step 1 of the
       goodwill impairment test for reporting units with zero or
       negative carrying amounts. For those reporting units, an entity
       is required to perform Step 2 of the goodwill impairment test if
       it is more likely than not that a goodwill impairment exists.
       This standard is effective for fiscal years, and interim periods
       within those years, beginning after December&amp;#160;15, 2010.
       Early adoption is not permitted. The Company does not expect the
       adoption of ASU
       &lt;font style="white-space: nowrap"&gt;2010-28&lt;/font&gt; will
       have a material impact on its consolidated financial statements.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       In December 2010, the FASB issued ASU
       &lt;font style="white-space: nowrap"&gt;No.&amp;#160;2010-29&lt;/font&gt;
       (&amp;#8220;ASU
       &lt;font style="white-space: nowrap"&gt;2010-29&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Disclosure of Supplementary Pro Forma Information for
       Business Combinations &lt;/i&gt;(&amp;#8220;ASC 805&amp;#8221;). The objective
       of this standard is to address diversity in practice about the
       interpretation of the pro forma revenue and earnings disclosure
       requirements for business combinations. This standard specifies
       that if a public entity presents comparative financial
       statements, the entity should disclose revenue and earnings of
       the combined entity as though the business combination(s) that
       occurred during the current year had occurred as of the
       beginning of the comparable prior annual reporting period only.
       This standard also expands the supplemental pro forma
       disclosures under ASC&amp;#160;805 to include a description of the
       nature and amount of material, nonrecurring pro forma
       adjustments directly attributable to the business combination
       included in the reported pro forma revenue and earnings. This
       standard is effective prospectively for business combinations
       for which the acquisition date is on or after the beginning of
       the first annual reporting period beginning on or after
       December&amp;#160;15, 2010. Early adoption is permitted. The Company
       does not expect the adoption of ASU
       &lt;font style="white-space: nowrap"&gt;2010-29&lt;/font&gt; will
       have a material impact on its consolidated financial statements.
   &lt;/div&gt;
   &lt;/div&gt;
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   &lt;div align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times"&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company accounts for guarantees in accordance with ASC
       subtopic
       &lt;font style="white-space: nowrap"&gt;460-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;460-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Guarantees: Overall&lt;/i&gt;. Accordingly, the Company evaluates
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USD ($)

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USD ($)

USD ($) / shares

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12/31/2010
CNY
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12/31/2010
USD ($)
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 -Publisher SEC
 -Name Regulation 12B
 -Number 240
 -Section 12b
 -Subsection 1

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 -Publisher SEC
 -Name Regulation 12B
 -Number 240
 -Section 12b
 -Subsection 1

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available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>Yes</NonNumbericText><NonNumericTextHeader>Yes</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol 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Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Entity Well-known Seasoned Issuer</Label></Row><Row><Id>14</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>dei_EntityCurrentReportingStatus</ElementName><ElementPrefix>dei</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>Yes</NonNumbericText><NonNumericTextHeader>Yes</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:yesNoItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Entity Current Reporting Status</Label></Row><Row><Id>15</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>dei_EntityFilerCategory</ElementName><ElementPrefix>dei</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole /><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>Large Accelerated Filer</NonNumbericText><NonNumericTextHeader>Large Accelerated Filer</NonNumericTextHeader><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>us-types:filerCategoryItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, or (4) Smaller Reporting Company. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. 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Where multiple classes exist define each class by adding class of stock items such as Common Class A [Member], Common Class B [Member] onto the Instrument [Domain] of the Entity Listings, Instrument</ElementDefenition><ElementReferences>No authoritative reference available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Entity Common Stock, Shares Outstanding</Label></Row></Rows><Footnotes /><NumberOfCols>3</NumberOfCols><NumberOfRows>12</NumberOfRows><ReportName>Document and Entity Information</ReportName><MonetaryRoundingLevel>UnKnown</MonetaryRoundingLevel><SharesRoundingLevel>NoRounding</SharesRoundingLevel><PerShareRoundingLevel>UnKnown</PerShareRoundingLevel><ExchangeRateRoundingLevel>UnKnown</ExchangeRateRoundingLevel><HasCustomUnits>false</HasCustomUnits><SharesShouldBeRounded>true</SharesShouldBeRounded></InstanceReport>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>124
<FILENAME>R2.xml
<DESCRIPTION>IDEA: Consolidated Balance Sheets
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?><InstanceReport xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xsd="http://www.w3.org/2001/XMLSchema"><Version>2.2.0.25</Version><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><ReportLongName>0110 - Statement - Consolidated Balance Sheets</ReportLongName><DisplayLabelColumn>true</DisplayLabelColumn><ShowElementNames>false</ShowElementNames><RoundingOption>In Thousands</RoundingOption><HasEmbeddedReports>false</HasEmbeddedReports><Columns><Column><Id>1</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode>USD</CurrencyCode><FootnoteIndexer /><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>1/1/2010 - 12/31/2010
USD ($)

USD ($) / shares

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CNY

CNY / shares

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CNY

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12/31/2010
CNY
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12/31/2010
USD ($)
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12/31/2009
CNY

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12/31/2010
USD ($)
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12/31/2010
CNY
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12/31/2009
CNY
</KeyName><CurrencySymbol /><contextRef><ContextID>BalanceAsOf_31Dec2009_Common_Class_B_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>instant</PeriodType><PeriodStartDate>2009-12-31T00:00:00</PeriodStartDate><PeriodEndDate>0001-01-01T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>us-gaap_CommonClassBMember</ValueName><ValueType>us-gaap_StatementClassOfStockAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>us-gaap_CommonClassBMember</Id><dimensionId>us-gaap_StatementClassOfStockAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios 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/><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>9</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>No definition available.</ElementDefenition><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Current assets:</Label></Row><Row><Id>7</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_CashAndCashEquivalentsAtCarryingValue</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>debit</BalanceType><PeriodType>instant</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>1179087000</NumericAmount><RoundedNumericAmount>1179087</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>4180376000</NumericAmount><RoundedNumericAmount>4180376</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol 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/><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>5</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>6</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>7</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>8</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>9</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits should not be reported as cash and cash equivalents.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 7, 26

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 8, 9

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 95
 -Paragraph 7
 -Footnote 1

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 1
 -Article 5

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Cash and cash equivalents</Label></Row><Row><Id>8</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>debit</BalanceType><PeriodType>instant</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>terselabel</PreferredLabelRole><FootnoteIndexer 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/><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>5</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>6</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>7</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>8</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>9</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 1
 -Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Audit and Accounting Guide (AAG)
 -Number AAG-BRD
 -Chapter 4
 -Paragraph 80
 -Subparagraph Exhibit 4-8, 3
 -IssueDate 2006-05-01

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 -Publisher SEC
 -Name Regulation S-X (SX)
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 -Publisher SEC
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 4
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 -Name Regulation S-X (SX)
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 -Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
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portion of the aggregate tax effects as of the balance sheet date of all future tax deductions arising from temporary differences between tax basis and generally accepted accounting principles basis recognition of assets, liabilities, revenues and expenses, which can only be deducted for tax purposes when permitted under enacted tax laws; after deducting the allocated valuation allowance, if any, to reduce such amount to net realizable value. Deferred tax liabilities and assets shall be classified as current or noncurrent based on the classification of the related asset or liability for financial reporting. A deferred tax liability or asset that is not related to an asset or liability for financial reporting, including deferred tax assets related to carryforwards, shall be classified according to the expected reversal date of the temporary difference. An unrecognized tax benefit that is directly related to a position taken in a tax year that results in a net operating loss carryforward should be presented as a reduction of the related deferred tax asset.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 109
 -Paragraph 41, 42, 43

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Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 9
 -Article 5

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assets that are held by an entity for use in the production or supply of goods and services, for rental to others, or for administrative purposes and that are expected to provide economic benefit for more than one year; net of accumulated depreciation. Examples include land, buildings, and production equipment.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 13
 -Subparagraph a
 -Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 12
 -Paragraph 5
 -Subparagraph b, c

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 8
 -Article 7

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 -Name Statement of Financial Accounting Standard (FAS)
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 -Name Statement of Financial Accounting Standard (FAS)
 -Number 109
 -Paragraph 41, 42, 43

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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 17
 -Article 5

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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 18
 -Article 5

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Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Concepts (CON)
 -Number 6
 -Paragraph 25

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 18
 -Article 5

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 12
 -Article 7

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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 19, 20
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 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 43
 -Chapter 3
 -Section A
 -Paragraph 7, 8

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Staff Accounting Bulletin (SAB)
 -Number Topic 13
 -Section A

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For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer).</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 19
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 -Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 08
 -Paragraph k
 -Subparagraph 1
 -Article 4

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 57
 -Paragraph 2
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obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 21
 -Article 5

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/><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>9</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>No definition 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sheet date of debt not otherwise defined (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 22
 -Article 5

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 -Number 210
 -Section 02
 -Paragraph 22
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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 22, 23, 24, 25, 26, 27
 -Article 5

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 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 19
 -Article 7

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 5
 -Paragraph 8, 9

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 25
 -Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 03
 -Paragraph 17
 -Article 9

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/><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>9</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Other</Unit><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><ElementDefenition>No definition available.</ElementDefenition><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Shareholders' equity</Label></Row><Row><Id>39</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_CommonStockValue</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>instant</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>12000</NumericAmount><RoundedNumericAmount>12</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>5</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>2000</NumericAmount><RoundedNumericAmount>2</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>6</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>11000</NumericAmount><RoundedNumericAmount>11</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>7</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>8</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>3000</NumericAmount><RoundedNumericAmount>3</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>9</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>4000</NumericAmount><RoundedNumericAmount>4</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Dollar value of issued common stock whether issued at par value, no par or stated value. This item includes treasury stock repurchased by the entity. Note: elements for number of common shares, par value and other disclosure concepts are in another section within stockholders' equity.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 30
 -Article 5

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Ordinary shares, value</Label></Row><Row><Id>40</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_AdditionalPaidInCapital</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>instant</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>235948000</NumericAmount><RoundedNumericAmount>235948</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>1426070000</NumericAmount><RoundedNumericAmount>1426070</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>1557258000</NumericAmount><RoundedNumericAmount>1557258</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>5</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>6</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>7</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>8</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>9</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of APIC associated with common AND preferred stock. For APIC associated with only common stock, use the element Additional Paid In Capital, Common Stock. For APIC associated with only preferred stock, use the element Additional Paid In Capital, Preferred Stock.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 31
 -Article 5

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Additional paid-in capital</Label></Row><Row><Id>41</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>instant</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>verboselabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-17784000</NumericAmount><RoundedNumericAmount>-17784</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-113513000</NumericAmount><RoundedNumericAmount>-113513</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>-117378000</NumericAmount><RoundedNumericAmount>-117378</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>5</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>6</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>7</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>8</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>9</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at fiscal year-end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, and unrealized gains and losses on certain investments in debt and equity securities as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 04
 -Article 3

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Principles Board Opinion (APB)
 -Number 12
 -Paragraph 10

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 130
 -Paragraph 14, 17, 26

Reference 4: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 31
 -Article 5

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Accumulated other comprehensive loss</Label></Row><Row><Id>42</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><Level>0</Level><ElementName>us-gaap_RetainedEarningsAccumulatedDeficit</ElementName><ElementPrefix>us-gaap</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>instant</PeriodType><ShortDefinition>No definition available.</ShortDefinition><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsSubReportEnd>false</IsSubReportEnd><IsCalendarTitle>false</IsCalendarTitle><IsTuple>false</IsTuple><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>totallabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>1055409000</NumericAmount><RoundedNumericAmount>1055409</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>2</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>3440529000</NumericAmount><RoundedNumericAmount>3440529</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>3</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>6965697000</NumericAmount><RoundedNumericAmount>6965697</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>false</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>4</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer 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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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 -Name Regulation S-X (SX)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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 -Name Staff Accounting Bulletin (SAB)
 -Number Topic 4
 -Section E

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 29, 30, 31
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 -Publisher SEC
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
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   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;2010&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom"&gt;
       &lt;b&gt;(In thousands)&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;!-- TableOutputBody --&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       PRC statutory reserve funds
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       187,675
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       238,107
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       36,077
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -10pt; margin-left: 10pt"&gt;
       Unreserved retained earnings
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,252,854
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,727,590
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,019,332
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,440,529
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,965,697
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,055,409
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
   &lt;/div&gt;
   &lt;/div&gt;
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>126
<FILENAME>R63.xml
<DESCRIPTION>IDEA: Income Taxes (Details) [Textuals]
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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1/1/2009 - 12/31/2009
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1/1/2009 - 12/31/2010
</KeyName><CurrencySymbol /><contextRef><ContextID>TwentyFourMonthsEnded_31Dec2010_Baidu_Times_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2009-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Baidu Times [Member]</ValueName><ValueType>dei_LegalEntityAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_BaiduTimesMember</Id><dimensionId>dei_LegalEntityAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="24 Months Ended" /><Label Id="2" Label="Dec. 31, 2010" /><Label Id="3" Label="Baidu Times [Member]" /></Labels></Column><Column><Id>9</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{dei_LegalEntityAxis} : Baidu Times [Member]
1/1/2006 - 12/31/2008
</KeyName><CurrencySymbol /><contextRef><ContextID>ThirtySixMonthsEnded_31Dec2008_Baidu_Times_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2006-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2008-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Baidu Times [Member]</ValueName><ValueType>dei_LegalEntityAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_BaiduTimesMember</Id><dimensionId>dei_LegalEntityAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="36 Months Ended" /><Label Id="2" Label="Dec. 31, 2008" /><Label Id="3" Label="Baidu Times [Member]" /></Labels></Column><Column><Id>10</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{dei_LegalEntityAxis} : Baidu China [Member]
1/1/2010 - 12/31/2010
</KeyName><CurrencySymbol /><contextRef><ContextID>TwelveMonthsEnded_31Dec2010_Baidu_China_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2010-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Baidu China [Member]</ValueName><ValueType>dei_LegalEntityAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_BaiduChinaMember</Id><dimensionId>dei_LegalEntityAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2010" /><Label Id="3" Label="Baidu China [Member]" /></Labels></Column><Column><Id>11</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{dei_LegalEntityAxis} : Baidu China [Member]
1/1/2009 - 12/31/2009
</KeyName><CurrencySymbol /><contextRef><ContextID>TwelveMonthsEnded_31Dec2009_Baidu_China_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2009-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2009-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Baidu China [Member]</ValueName><ValueType>dei_LegalEntityAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_BaiduChinaMember</Id><dimensionId>dei_LegalEntityAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2009" /><Label Id="3" Label="Baidu China [Member]" /></Labels></Column><Column><Id>12</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{dei_LegalEntityAxis} : Baidu China [Member]
1/1/2008 - 12/31/2008
</KeyName><CurrencySymbol /><contextRef><ContextID>TwelveMonthsEnded_31Dec2008_Baidu_China_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2008-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2008-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Baidu China [Member]</ValueName><ValueType>dei_LegalEntityAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_BaiduChinaMember</Id><dimensionId>dei_LegalEntityAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2008" /><Label Id="3" Label="Baidu China [Member]" /></Labels></Column><Column><Id>13</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{dei_LegalEntityAxis} : Baidu China [Member]
1/1/2006 - 12/31/2007
</KeyName><CurrencySymbol /><contextRef><ContextID>TwentyFourMonthsEnded_31Dec2007_Baidu_China_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2006-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2007-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Baidu China [Member]</ValueName><ValueType>dei_LegalEntityAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_BaiduChinaMember</Id><dimensionId>dei_LegalEntityAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="24 Months Ended" /><Label Id="2" Label="Dec. 31, 2007" /><Label Id="3" Label="Baidu China [Member]" /></Labels></Column><Column><Id>14</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{dei_LegalEntityAxis} : Baidu China [Member]
1/1/2008 - 12/31/2010
</KeyName><CurrencySymbol /><contextRef><ContextID>ThirtySixMonthsEnded_31Dec2010_Baidu_China_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2008-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Baidu China [Member]</ValueName><ValueType>dei_LegalEntityAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_BaiduChinaMember</Id><dimensionId>dei_LegalEntityAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="36 Months Ended" /><Label Id="2" Label="Dec. 31, 2010" /><Label Id="3" Label="Baidu China [Member]" /></Labels></Column><Column><Id>15</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{dei_LegalEntityAxis} : Qualified Hnte After 2008 Member
1/1/2008 - 12/31/2010
</KeyName><CurrencySymbol /><contextRef><ContextID>ThirtySixMonthsEnded_31Dec2010_Qualified_Hnte_After2008_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2008-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Qualified HNTE After 2008 [Member]</ValueName><ValueType>dei_LegalEntityAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_QualifiedHnteAfter2008Member</Id><dimensionId>dei_LegalEntityAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="36 Months Ended" /><Label Id="2" Label="Dec. 31, 2010" /><Label Id="3" Label="Qualified HNTE After 2008 [Member]" /></Labels></Column><Column><Id>16</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{dei_LegalEntityAxis} : Qualified Hnte Granted With Tax Holiday Before 2008 And Verified As Qualified Hnte After 2008 Member
1/1/2008 - 12/31/2010
</KeyName><CurrencySymbol /><contextRef><ContextID>ThirtySixMonthsEnded_31Dec2010_Qualified_Hnte_Granted_With_Tax_Holiday_Before2008_And_Verified_As_Qualified_Hnte_After2008_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2008-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Qualified HNTE Granted with Tax Holiday before 2008 and Verified as Qualified HNTE After 2008 [Member]</ValueName><ValueType>dei_LegalEntityAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_QualifiedHnteGrantedWithTaxHolidayBefore2008AndVerifiedAsQualifiedHnteAfter2008Member</Id><dimensionId>dei_LegalEntityAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="36 Months Ended" /><Label Id="2" Label="Dec. 31, 2010" /><Label Id="3" Label="Qualified HNTE Granted with Tax Holiday before 2008 and Verified as Qualified HNTE After 2008 [Member]" /></Labels></Column><Column><Id>17</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{dei_LegalEntityAxis} : Qualified Hnte In Transitional Period Of Preferential Reduction Of Tax Rates Member
1/1/2008 - 12/31/2010
</KeyName><CurrencySymbol /><contextRef><ContextID>ThirtySixMonthsEnded_31Dec2010_Qualified_Hnte_In_Transitional_Period_Of_Preferential_Reduction_Of_Tax_Rates_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2008-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Qualified HNTE in Transitional Period of Preferential Reduction of Tax Rates [Member]</ValueName><ValueType>dei_LegalEntityAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_QualifiedHnteInTransitionalPeriodOfPreferentialReductionOfTaxRatesMember</Id><dimensionId>dei_LegalEntityAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="36 Months Ended" /><Label Id="2" Label="Dec. 31, 2010" /><Label Id="3" Label="Qualified HNTE in Transitional Period of Preferential Reduction of Tax Rates [Member]" /></Labels></Column><Column><Id>18</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{dei_LegalEntityAxis} : Some Qualified Software Enterprise Before 2008 Member
1/1/2007 - 12/31/2007
</KeyName><CurrencySymbol /><contextRef><ContextID>TwelveMonthsEnded_31Dec2007_Some_Qualified_Software_Enterprise_Before2008_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2007-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2007-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Some Qualified Software Enterprise Before 2008 [Member]</ValueName><ValueType>dei_LegalEntityAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_SomeQualifiedSoftwareEnterpriseBefore2008Member</Id><dimensionId>dei_LegalEntityAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2007" /><Label Id="3" Label="Some Qualified Software Enterprise Before 2008 [Member]" /></Labels></Column><Column><Id>19</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{dei_LegalEntityAxis} : Qualified Software Enterprise Member
1/1/2006 - 12/31/2007
</KeyName><CurrencySymbol /><contextRef><ContextID>TwentyFourMonthsEnded_31Dec2007_Qualified_Software_Enterprise_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2006-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2007-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Qualified Software Enterprise [Member]</ValueName><ValueType>dei_LegalEntityAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_QualifiedSoftwareEnterpriseMember</Id><dimensionId>dei_LegalEntityAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="24 Months Ended" /><Label Id="2" Label="Dec. 31, 2007" /><Label Id="3" Label="Qualified Software Enterprise [Member]" /></Labels></Column><Column><Id>20</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{dei_LegalEntityAxis} : Qualified Software Enterprise Member
1/1/2008 - 12/31/2010
</KeyName><CurrencySymbol /><contextRef><ContextID>ThirtySixMonthsEnded_31Dec2010_Qualified_Software_Enterprise_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2008-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2010-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Qualified Software Enterprise [Member]</ValueName><ValueType>dei_LegalEntityAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_QualifiedSoftwareEnterpriseMember</Id><dimensionId>dei_LegalEntityAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="36 Months Ended" /><Label Id="2" Label="Dec. 31, 2010" /><Label Id="3" Label="Qualified Software Enterprise [Member]" /></Labels></Column><Column><Id>21</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{dei_LegalEntityAxis} : Transitional E I T Rate [Member]
1/1/2012 - 12/31/2012
</KeyName><CurrencySymbol /><contextRef><ContextID>TwelveMonthsEnded_31Dec2012_Transitional_E_I_T_Rate_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>duration</PeriodType><PeriodStartDate>2012-01-01T00:00:00</PeriodStartDate><PeriodEndDate>2012-12-31T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Transitional EIT Rate [Member]</ValueName><ValueType>dei_LegalEntityAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>bidu_TransitionalEITRateMember</Id><dimensionId>dei_LegalEntityAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>Pure</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/instance</MeasureSchema><MeasureValue>pure</MeasureValue><MeasureNamespace>xbrli</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode /><OriginalCurrencyCode /></MCU><CurrencySymbol /><Labels><Label Id="1" Label="12 Months Ended" /><Label Id="2" Label="Dec. 31, 2012" /><Label Id="3" Label="Transitional EIT Rate [Member]" /></Labels></Column><Column><Id>22</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode /><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{dei_LegalEntityAxis} : Transitional E I T Rate [Member]
1/1/2011 - 12/31/2011
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1/1/2010 - 12/31/2010
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1/1/2009 - 12/31/2009
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1/1/2008 - 12/31/2008
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</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>129
<FILENAME>Financial_Report.xls
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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12/31/2009
CNY
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12/31/2010
CNY
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12/31/2010
USD ($)
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12/31/2009
CNY
</KeyName><CurrencySymbol /><contextRef><ContextID>BalanceAsOf_31Dec2009_Internet_Domain_Names_Member</ContextID><EntitySchema>http://www.sec.gov/CIK</EntitySchema><EntityValue>0001329099</EntityValue><PeriodDisplayName /><PeriodType>instant</PeriodType><PeriodStartDate>2009-12-31T00:00:00</PeriodStartDate><PeriodEndDate>0001-01-01T00:00:00</PeriodEndDate><Segments><anyType xsi:type="Segment"><IsDefaultForEntity>false</IsDefaultForEntity><Name /><IsFromEntityGroup>false</IsFromEntityGroup><ValueName>Domain Names [Member]</ValueName><ValueType>us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis</ValueType><Namespace>xbrldi</Namespace><Schema>http://xbrl.org/2006/xbrldi</Schema><DimensionInfo><Id>us-gaap_InternetDomainNamesMember</Id><dimensionId>us-gaap_FiniteLivedIntangibleAssetsByMajorClassAxis</dimensionId><type>explicitMember</type></DimensionInfo></anyType></Segments><Scenarios /></contextRef><UPS><UnitProperty><UnitID>CNY</UnitID><UnitType>Standard</UnitType><StandardMeasure><MeasureSchema>http://www.xbrl.org/2003/iso4217</MeasureSchema><MeasureValue>CNY</MeasureValue><MeasureNamespace>iso4217</MeasureNamespace></StandardMeasure><Scale>0</Scale></UnitProperty></UPS><CurrencyCode>CNY</CurrencyCode><OriginalCurrencyCode>CNY</OriginalCurrencyCode></MCU><CurrencySymbol /><Labels><Label Id="1" Label="Dec. 31, 2009" /><Label Id="2" Label="Domain Names [Member]" /><Label Id="3" Label="CNY" /></Labels></Column><Column><Id>16</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelColumn>false</LabelColumn><CurrencyCode>USD</CurrencyCode><FootnoteIndexer /><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios><MCU><KeyName>{us-gaap_IndefiniteLivedIntangibleAssetsByMajorClassAxis} : Domain Names [Member]
12/31/2010
USD ($)
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12/31/2010
CNY
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12/31/2009
CNY
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12/31/2010
USD ($)
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12/31/2010
CNY
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12/31/2009
CNY
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12/31/2010
CNY
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12/31/2010
USD ($)
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12/31/2009
CNY
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12/31/2010
CNY
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12/31/2010
USD ($)
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12/31/2009
CNY
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12/31/2010
CNY
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12/31/2010
USD ($)
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12/31/2009
CNY
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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 142
 -Paragraph 45
 -Subparagraph a(1)

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A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 142
 -Paragraph 45
 -Subparagraph a(1)

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 142
 -Paragraph 42, 45

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A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 142
 -Paragraph 45
 -Subparagraph a(1)

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 142
 -Paragraph 45
 -Subparagraph b

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 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 115
 -Paragraph 19

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 115
 -Paragraph 137

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<FILENAME>R38.xml
<DESCRIPTION>IDEA: Earnings Per Share (Tables)
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USD ($)

USD ($) / shares

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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &amp;#160;
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       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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       &lt;b&gt;2008&lt;/b&gt;
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   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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       &lt;b&gt;2009&lt;/b&gt;
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   &amp;#160;
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   &amp;#160;
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       &lt;b&gt;2010&lt;/b&gt;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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       &lt;b&gt;Class A&lt;/b&gt;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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       Earnings per share&amp;#160;&amp;#8212; basic:
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   &amp;#160;
   &lt;/td&gt;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Numerator
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Allocation of undistributed earnings
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       772,330
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       275,778
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,107,191
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       377,913
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,690,712
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       407,683
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       834,456
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       126,433
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Weighted average ordinary shares outstanding
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,214,154
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,003,290
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,773,593
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,797,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator used for earnings per share
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,214,154
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,003,290
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,773,593
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,797,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per share&amp;#160;&amp;#8212; basic
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30.63
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30.63
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42.96
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42.96
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       101.28
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.35
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       101.28
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.35
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per share&amp;#160;&amp;#8212; diluted:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Numerator
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Allocation of undistributed earnings for diluted computation
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       765,509
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       282,599
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,107,067
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       378,037
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,693,365
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       408,085
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       831,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       126,031
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Reallocation of undistributed earnings as a result of conversion
       of Class&amp;#160;B to Class&amp;#160;A shares
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       282,599
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       378,037
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       831,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       126,031
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Allocation of undistributed earnings
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,048,108
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       282,599
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,485,104
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       378,037
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,525,168
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       534,116
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       831,803
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       126,031
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Weighted average ordinary shares outstanding
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,214,154
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,003,290
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       25,773,593
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,797,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       26,566,454
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Conversion of Class&amp;#160;B to Class&amp;#160;A ordinary shares
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,003,290
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,797,198
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,238,907
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -8pt; margin-left: 15pt"&gt;
       Share-based awards
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       500,046
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       357,512
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       205,576
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       55,210
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       112,474
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       112,474
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       350
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       350
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator used for earnings per share
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,717,490
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       9,360,802
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,776,366
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,852,408
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,917,835
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       34,917,835
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,239,257
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       8,239,257
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per share&amp;#160;&amp;#8212; diluted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30.19
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       30.19
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42.70
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       42.70
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       100.96
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.30
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       100.96
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       15.30
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per ADS:
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator used for earnings per ADS&amp;#160;&amp;#8212; basic
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       252,141,540
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       257,735,930
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       265,664,540
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       265,664,540
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Denominator used for earnings per ADS&amp;#160;&amp;#8212; diluted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       347,174,900
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       347,763,660
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       349,178,350
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       349,178,350
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per ADS&amp;#160;&amp;#8212; basic
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3.06
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4.30
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10.13
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1.53
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td align="left" valign="bottom"&gt;
   &lt;div style="text-indent: -7pt; margin-left: 7pt"&gt;
       Earnings per ADS&amp;#160;&amp;#8212; diluted
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3.02
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4.27
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       10.10
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1.53
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       &amp;#8212;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
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   &lt;div style="margin-top: 18pt; font-size: 1pt"&gt;&amp;#160;
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USD ($)

USD ($) / shares

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       On January&amp;#160;31, 2011, the Company entered into agreements
       with NTT DOCOMO, INC. (&amp;#8220;DCM&amp;#8221;), pursuant to which the
       parties agreed to establish a joint venture to operate mobile
       value-added telecommunications services and provide multiple
       categories of digital content. According to the agreements, DCM
       will subscribe for new ordinary shares in the new joint venture
       in two installments in 2011, with a total consideration of
       US$22.50&amp;#160;million. The
   Company and DCM will ultimately hold 80% and 20% of the equity
       interest in the new joint venture respectively, upon the
       completion of the ordinary shares subscription.
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       On February&amp;#160;28, 2011, the Company entered into agreements
       with ANJUKE INC. (&amp;#8220;ANJUKE&amp;#8221;), a company incorporated
       and existing under the laws of the Cayman Islands, pursuant to
       which the Company agreed to subscribe for 1,981,378
       series&amp;#160;C preferred shares of ANJUKE with a total cash
       consideration of US$23.0&amp;#160;million. The Company will hold 5%
       of equity interest in ANJUKE on an as-converted basis and
       account for the investment under the cost method upon the
       completion of the preferred shares subscription.
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 -Name Statement of Financial Accounting Standard (FAS)
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USD ($)

USD ($) / shares

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       &lt;b&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;ORGANIZATION,
       CONSOLIDATION AND PRESENTATION OF FINANCIAL STATEMENTS&lt;/font&gt;&lt;/b&gt;
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       Baidu, Inc. (&amp;#8220;Baidu&amp;#8221; or the &amp;#8220;Company&amp;#8221;) was
       incorporated under the laws of the Cayman Islands on
       January&amp;#160;18, 2000. The Company was formerly known as
       Baidu.com, Inc. and changed its name to Baidu, Inc. on
       December&amp;#160;16, 2008. The Company is the sole shareholder of
       Baidu Holdings Ltd. (&amp;#8220;Baidu Holdings&amp;#8221;) incorporated in
       the British Virgin Islands.
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       As of December&amp;#160;31, 2010, Baidu Holdings owns the following
       subsidiaries:
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       &lt;td&gt;    &amp;#8226;&amp;#160;
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       Baidu Online Network Technology (Beijing) Co., Ltd. (&amp;#8220;Baidu
       Online&amp;#8221;) incorporated under the laws of the People&amp;#8217;s
       Republic of China (&amp;#8220;PRC&amp;#8221;) on January&amp;#160;18, 2000,
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       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
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       Baidu Japan Inc. (&amp;#8220;Baidu Japan&amp;#8221;) incorporated under
       the laws of Japan on December&amp;#160;13, 2006,
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       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
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       Baidu (Hong Kong) Limited (&amp;#8220;Baidu HK&amp;#8221;) incorporated
       under the laws of Hong Kong on November&amp;#160;27, 2007,&amp;#160;and
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       &lt;td&gt;    &amp;#8226;&amp;#160;
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       Baidu International Technology (Shenzhen) Co., Ltd. (&amp;#8220;Baidu
       International&amp;#8221;) incorporated under the laws of the PRC on
       November&amp;#160;23, 2010.
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       Baidu HK owns the following subsidiaries in the PRC:
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       &lt;td&gt;    &amp;#8226;&amp;#160;
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       Baidu (China) Co., Ltd. (&amp;#8220;Baidu China&amp;#8221;) incorporated
       under the laws of the PRC on June&amp;#160;6, 2005,
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   &lt;/td&gt;
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       Baidu.com Times Technology (Beijing) Co., Ltd. (&amp;#8220;Baidu
       Times&amp;#8221;) incorporated under the laws of the PRC on
       April&amp;#160;19, 2006,&amp;#160;and
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       &lt;td&gt;    &amp;#8226;&amp;#160;
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       Baidu Interaction (Shenzhen) Network Technology Co., Ltd.
       (&amp;#8220;Baidu Interaction&amp;#8221;), which obtained its business
       license in March 2009, was incorporated under the laws of the
       PRC. Baidu Interaction is in the process of being dissolved, but
       is not presented as a discontinued operation since the entity
       has not started operating since its inception.
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       Baidu Japan has established the following wholly-owned
       subsidiaries in Japan and the USA:
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="4%"&gt;&lt;/td&gt;
       &lt;td width="2%"&gt;&lt;/td&gt;
       &lt;td width="94%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Hyakudo Inc. (&amp;#8220;Hyakudo&amp;#8221;) incorporated under the laws
       of Japan on April&amp;#160;14, 2008,
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 6pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Baido, Inc. (&amp;#8220;Baido&amp;#8221;) incorporated under the laws of
       Japan on April&amp;#160;14, 2008,&amp;#160;and
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 6pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Baidu USA LLC incorporated under the laws of the USA on
       November&amp;#160;12, 2010.
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       As of December&amp;#160;31, 2010, the Company also effectively
       controls the following variable interest entities
       (&amp;#8220;VIEs&amp;#8221;):
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;table width="100%" border="0" cellpadding="0" cellspacing="0" style="text-align: left"&gt;
   &lt;tr&gt;
       &lt;td width="4%"&gt;&lt;/td&gt;
       &lt;td width="2%"&gt;&lt;/td&gt;
       &lt;td width="94%"&gt;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Beijing Baidu Netcom Science Technology Co., Ltd. (&amp;#8220;Baidu
       Netcom&amp;#8221;) incorporated under the laws of the PRC on
       June&amp;#160;5, 2001,
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 6pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Beijing Perusal Technology Co., Ltd. (&amp;#8220;Beijing
       Perusal&amp;#8221;) incorporated under the laws of the PRC on
       June&amp;#160;6, 2006,
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 6pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Beijing BaiduPay Science and Technology Co., Ltd.
       (&amp;#8220;BaiduPay&amp;#8221;) incorporated under the laws of the PRC on
       February&amp;#160;27, 2008,&amp;#160;and
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr style="line-height: 6pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;&lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       &lt;td&gt;&amp;#160;&lt;/td&gt;
       &lt;td&gt;    &amp;#8226;&amp;#160;
   &lt;/td&gt;
       &lt;td align="left"&gt;
       Baidu HR Consulting (Shanghai) Co., Ltd. (&amp;#8220;Baidu HR&amp;#8221;)
       incorporated under the laws of the PRC on December&amp;#160;28, 2010.
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;/table&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The Company, its subsidiaries and VIEs are hereinafter
       collectively referred to as the &amp;#8220;Group.&amp;#8221; The Group
       offers Internet search solutions and online marketing solutions,
       operates an
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       platform with an online payment tool which enables
       &lt;font style="white-space: nowrap"&gt;e-commerce&lt;/font&gt;
       merchants and customers to make payments online, develops and
       markets
   scalable web application software and provides related services,
       as well as provides human resource related services including
       employment agency services. The Group&amp;#8217;s principal
       geographic market is in the PRC and Japan. The Company does not
       conduct any substantive operations of its own but conducts its
       primary business operations through its wholly-owned
       subsidiaries and VIEs in the PRC.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       PRC laws and regulations prohibit or restrict foreign ownership
       of Internet content and advertising businesses. To comply with
       these foreign ownership restrictions, the Group operates its
       websites and primarily provides online advertising services in
       the PRC through VIEs, the PRC legal entities that were
       established by the individuals authorized by the Group. The
       paid-in capital of the VIEs was funded by the Group through
       loans extended to the authorized individuals. The Group has
       entered into certain exclusive agreements with the VIEs through
       Baidu Online, which obligate Baidu Online to absorb a majority
       of the risk of loss from the VIEs&amp;#8217; activities and entitles
       Baidu Online to receive a majority of their residual returns. In
       addition, the Group has entered into certain agreements with the
       authorized individuals through Baidu Online, including loan
       agreements for the paid-in capital of the VIEs, option
       agreements to acquire the equity interests in the VIEs when
       permitted by the PRC laws, and share pledge agreements for the
       equity interests in the VIEs held by the authorized individuals.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Despite the lack of technical majority ownership, there exists a
       parent-subsidiary relationship between the Company and VIEs
       through certain agreements with the authorized individuals
       through Baidu Online, including loan agreements for the paid-in
       capital of the VIEs, option agreements to acquire the equity
       interests in the VIEs when permitted by the PRC laws, and share
       pledge agreements for the equity interests in the VIEs held by
       the authorized individuals. The equity holders of VIEs
       effectively assigned all of their voting rights underlying their
       equity interest in VIEs to Baidu Online. In addition, through
       the other aforementioned agreements, the Company demonstrates
       its ability and intention to continue to exercise the ability to
       absorb substantially all of the profits and all of the expected
       losses of VIEs. The VIEs are subject to operating risks, which
       determine the variability of the Company&amp;#8217;s interest in
       those entities. Based on these contractual arrangements, the
       Company consolidates the VIEs as required by Accounting
       Standards Codification (&amp;#8220;ASC&amp;#8221;) subtopic
       &lt;font style="white-space: nowrap"&gt;810-10&lt;/font&gt;
       (&amp;#8220;ASC
       &lt;font style="white-space: nowrap"&gt;810-10&amp;#8221;),&lt;/font&gt;
       &lt;i&gt;Consolidation: Overall&lt;/i&gt;, because the Company holds all the
       variable interests of VIEs through Baidu Online, which is the
       primary beneficiary of the VIEs.
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The carrying amount of the total assets of VIEs was
       RMB1.19&amp;#160;billion (US$180.92&amp;#160;million) as of
       December&amp;#160;31, 2010 and there was no pledge or
       collateralization of their assets. The amount of the net assets
       of VIEs, which are restricted under PRC laws and regulations
       (Note&amp;#160;13), was RMB341.10&amp;#160;million
       (US$51.68&amp;#160;million) as of December&amp;#160;31, 2010.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Basis
       of Accounting&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The consolidated financial statements have been prepared in
       accordance with United States generally accepted accounting
       principles (&amp;#8220;U.S.&amp;#160;GAAP&amp;#8221;).
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Principles
       of Consolidation&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The consolidated financial statements include the financial
       statements of the Company, its subsidiaries and VIEs in which
       the Company holds all the variable interests of VIEs through
       Baidu Online. All inter-company transactions and balances
       between the Company, its subsidiaries and VIEs are eliminated
       upon consolidation. The Company has included the results of
       operations of acquired businesses from the respective dates of
       acquisition.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Use of
       Estimates&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       The preparation of financial statements in conformity with
       accounting principles generally accepted in the United States
       requires management to make estimates and assumptions that
       affect the reported amounts of assets and liabilities and
       disclosures of contingent assets and liabilities at the date of
       the financial statements and the reported amounts of revenues
       and expenses during the period. Management evaluates estimates,
       including those
   related to the accounts receivable allowances, fair values of
       options to purchase the Company&amp;#8217;s ordinary shares, fair
       values of certain equity investments, and deferred tax valuation
       allowance, among others. Management bases the estimates on
       historical experience and on various other assumptions that are
       believed to be reasonable, the results of which form the basis
       for making judgments about the carrying values of assets and
       liabilities. Actual results could differ from these estimates.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Comparative
       Information&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Certain items in prior years&amp;#8217; consolidated financial
       statements have been reclassified to conform to the current
       year&amp;#8217;s presentation in accordance with the requirement
       under eXtensible Business Reporting Language (&amp;#8220;XBRL&amp;#8221;)
       to facilitate comparison.
   &lt;/div&gt;
   &lt;div style="margin-top: 12pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 2%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent"&gt;
       &lt;b&gt;&lt;i&gt;&lt;font style="font-family: 'Times New Roman', Times"&gt;Currency
       Translation for Financial Statements Presentation&lt;/font&gt;&lt;/i&gt;&lt;/b&gt;
   &lt;/div&gt;
   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
   &lt;/div&gt;
   &lt;div align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent"&gt;
       Translations of amounts from RMB into US$ for the convenience of
       the reader have been calculated at the exchange rate of
       RMB6.6000 per US$1.00 on December&amp;#160;30, 2010 as published on
       the website of the Federal Reserve Board. No representation is
       made that the RMB amounts could have been, or could be,
       converted into U.S.&amp;#160;dollars at such rate.
   &lt;/div&gt;
   &lt;/div&gt;
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 -Publisher AICPA
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 -Publisher FASB
 -Name FASB Interpretation (FIN)
 -Number 46R
 -Paragraph 4, 14, 15

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12/31/2010
CNY
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12/31/2010
USD ($)
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12/31/2010
CNY
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12/31/2010
USD ($)
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12/31/2010
CNY
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12/31/2010
USD ($)
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12/31/2010
CNY
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/><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>7</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>3485000</NumericAmount><RoundedNumericAmount>3485</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>8</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>23000000</NumericAmount><RoundedNumericAmount>23000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>9</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>2575000</NumericAmount><RoundedNumericAmount>2575</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell><Cell><Id>10</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>17000000</NumericAmount><RoundedNumericAmount>17000</RoundedNumericAmount><NonNumbericText /><NonNumericTextHeader /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>true</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat><hasSegments>true</hasSegments><hasScenarios>false</hasScenarios></Cell></Cells><OriginalInstanceReportColumns /><Unit>Monetary</Unit><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>Amount of outstanding principal due under the debt instrument at the end of the reporting period.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef
 -Publisher SEC
 -Name Regulation S-X (SX)
 -Number 210
 -Section 02
 -Paragraph 22
 -Article 5

Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name FASB Staff Position (FSP)
 -Number APB14-1
 -Paragraph 31
 -Subparagraph b

</ElementReferences><IsTotalLabel>false</IsTotalLabel><IsEPS>false</IsEPS><Label>Principal amounts due at maturity dates</Label></Row></Rows><Footnotes /><NumberOfCols>10</NumberOfCols><NumberOfRows>2</NumberOfRows><ReportName>Loans Payable, Noncurrent (Details)</ReportName><MonetaryRoundingLevel>Thousands</MonetaryRoundingLevel><SharesRoundingLevel>UnKnown</SharesRoundingLevel><PerShareRoundingLevel>UnKnown</PerShareRoundingLevel><ExchangeRateRoundingLevel>UnKnown</ExchangeRateRoundingLevel><HasCustomUnits>false</HasCustomUnits><SharesShouldBeRounded>true</SharesShouldBeRounded></InstanceReport>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>136
<FILENAME>R40.xml
<DESCRIPTION>IDEA: Segment Reporting (Tables)
<TEXT>
<XBRL>
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USD ($)

USD ($) / shares

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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &amp;#160;
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       &lt;b&gt;For the Years Ended December&amp;#160;31,&lt;/b&gt;
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   &amp;#160;
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   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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       &lt;b&gt;2008&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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       &lt;b&gt;2009&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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       &lt;b&gt;2010&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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       &lt;b&gt;2010&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="2" nowrap="nowrap" align="center" valign="bottom"&gt;
       &lt;b&gt;RMB&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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       &lt;b&gt;(In thousands)&lt;/b&gt;
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   &amp;#160;
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       Revenues:
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   &amp;#160;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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       PRC
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   &amp;#160;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,194,635
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,441,580
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,898,805
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,196,789
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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   &lt;tr valign="bottom" style="background: #cceeff"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
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       Non-PRC
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,617
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,196
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       16,269
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       2,465
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       3,198,252
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       4,447,776
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       7,915,074
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,199,254
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &amp;#160;
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   &lt;div style="margin-top: 6pt; font-size: 1pt"&gt;&amp;#160;
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   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td colspan="10" align="center" valign="bottom" style="border-bottom: 1px solid #000000"&gt;
       &lt;b&gt;December&amp;#160;31,&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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       &lt;b&gt;2010&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
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       &lt;b&gt;2010&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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       &lt;b&gt;RMB&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
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       &lt;b&gt;US$&lt;/b&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;tr style="font-size: 8pt" valign="bottom" align="center"&gt;
   &lt;td nowrap="nowrap" align="center" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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       &lt;b&gt;(In thousands)&lt;/b&gt;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;tr style="line-height: 3pt; font-size: 1pt"&gt;
   &lt;td&gt;&amp;#160;
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       Long-lived assets:
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   &lt;td&gt;
   &amp;#160;
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   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
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       PRC
   &lt;/div&gt;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,093,681
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,785,511
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       270,532
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
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       Non-PRC
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       49,720
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       45,872
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       6,950
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 1px solid #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;/tr&gt;
   &lt;tr valign="bottom"&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,143,401
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       1,831,383
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
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   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="right" valign="bottom"&gt;
       277,482
   &lt;/td&gt;
   &lt;td nowrap="nowrap" align="left" valign="bottom"&gt;
   &amp;#160;
   &lt;/td&gt;
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   &lt;tr valign="bottom" style="font-size: 1pt"&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td style="border-top: 3px double #000000"&gt;
   &amp;#160;
   &lt;/td&gt;
   &lt;td&gt;
   &amp;#160;
   &lt;/td&gt;
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>138
<FILENAME>R71.xml
<DESCRIPTION>IDEA: Earnings Per Share (Details)
<TEXT>
<XBRL>
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USD ($) / shares

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CNY

CNY / shares

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CNY

CNY / shares

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1/1/2010 - 12/31/2010
CNY

CNY / shares
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1/1/2010 - 12/31/2010
USD ($)

USD ($) / shares
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1/1/2009 - 12/31/2009
CNY / shares

CNY

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1/1/2008 - 12/31/2008
CNY

CNY / shares
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1/1/2010 - 12/31/2010
CNY

CNY / shares
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1/1/2010 - 12/31/2010
USD ($)

USD ($) / shares
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1/1/2009 - 12/31/2009
CNY / shares

CNY
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1/1/2008 - 12/31/2008
CNY

CNY / shares
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 -Publisher SEC
 -Name Regulation S-X (SX)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
 -Paragraph 38
 -Subparagraph d

Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher AICPA
 -Name Accounting Research Bulletin (ARB)
 -Number 51
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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 -Number 51
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Emerging Issues Task Force (EITF)
 -Number 87-21

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
 -Publisher FASB
 -Name Statement of Financial Accounting Standard (FAS)
 -Number 128
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 -Publisher SEC
 -Name Regulation S-X (SX)
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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 -Paragraph 36, 37, 38

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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 -Name Regulation S-X (SX)
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 -Paragraph 18
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<FILENAME>R17.xml
<DESCRIPTION>IDEA: Employee Defined Contribution Plan
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USD ($)

USD ($) / shares

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       Full time employees of the Group in the PRC participate in a
       government mandated multi-employer defined contribution plan
       pursuant to which certain pension benefits, medical care,
       unemployment insurance, employee housing fund and other welfare
       benefits are provided to employees. Chinese labor regulations
       require that the Group make contributions to the government for
       these benefits based on certain percentages of the
       employees&amp;#8217; salaries. The Company has no legal obligation
       for the benefits beyond the contributions. The total amounts for
       such employee benefits, which were expensed as incurred, were
       RMB98.18&amp;#160;million, RMB141.84&amp;#160;million and
       RMB218.88&amp;#160;million (US$33.16&amp;#160;million) for the years
       ended December&amp;#160;31, 2008, 2009 and 2010, respectively.
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