US tech giant Microsoft has sold MSN China – the Chinese edition of its global web portal – to its local partner Xichuang Technology (Beijing) Co. Ltd., founded by the portal’s top executive. Microsoft in its official blog has said that it has signed an agreement to sell MSN China, effective from September, reports Chinese website caixin.com. The financial terms were not disclosed. Xichuang Technology was co-founded in late 2015 by Liu Zhenyu, MSN China’s former General Manager. According to the report, Microsoft’s MSN China portal never took off owing to government regulations and stiff competition from local rivals like Sina and Tencent, but Microsoft maintains that China is still one of its strategic markets. “After selling off the unpopular unit, Microsoft will continue to invest in China in other businesses, including computing and cloud services,” the report added.
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