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Ctrip is the big boy of the pack. In October 2015, it swallowed up Qunar, a travel firm that was beginning to find traction. According to consultancy Frost& Sullivan China, the combine of Ctrip and Qunar commands a more than 60 percent share of the OTA market.

Cusumano: “Yes, in the sense that there’s really almost no limit to what could be built on top of an innovation platform. The other important point we make in the book is that the most valuable companies in the world, and in many ways the most powerful platforms, are really hybrid companies. In other words, they do both. Facebook started out as a transaction platform, essentially just bringing together people who wanted to communicate or share information with each other. We consider that a transaction, even though it may be priced at zero. But Facebook Platform opens up APIs and lets outside companies build specific applications and games, and connect websites that let users do all sorts of things on Facebook, some of which have not been well-controlled. So it’s really adding the innovation platform function to the transaction platform that has made Facebook and some other platforms extraordinarily powerful.”

DENVER — US Sen. Michael Bennet of Colorado says he is seeking the Democratic nomination for president in 2020.

Customs officials in Guangzhou examine soccer balls suspected of infringing 

Customers are eligible for discounts on the deposit and fee based on their score on Alibaba's credit scoring unit Sesame Credit.