NEW YORK - Chinese Internet search company Baidu Inc. and eBay's EachNet, an e-commerce company in China, said on Wednesday they had reached a collaboration deal.

A man walks past an advertisement for Baidu.com in Shanghai in a 2005 photo. The Chinese Internet search company and eBay's EachNet, an e-commerce company in China, said on Wednesday they had reached a collaboration deal. [Reuters]

Under the agreement, Baidu will promote PayPal Beibao, PayPal's service in China, and will become the exclusive provider of text-based search advertising on EachNet.

EachNet and Baidu will also develop a co-branded toolbar.

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