Report: eBay Back in China By Summer

eBay said Friday that it planned to re-enter the Chinese market this summer, just seven months after it announced its plans to close its own site and hand the reigns over to Beijing-based Tom Online. The site, which is co-operated by the two companies, will be called "TOM eBay." This time, tighter restrictions will be placed on sellers, something that caused serious trouble with the first site.

In addition, payments will be held in escrow until buyers indicate they are satisfied with their purchases in an attempt to curry favor with consumers. eBay has not had much success in Asia: it also closed its Japanese site after it failed to gain any traction against Yahoo, which already had a successful auction offering in the country.