Google CEO Schmidt says China's business remains stable

Sina Science and technology news Beijing time, May 14 morning, according to foreign media reports, Google CEO Eric Schmidt, in Thursday at Google's annual shareholder meeting, said Google's business in China to maintain stability, and Google's acquisition of admob transactions are expected to pass regulatory approval.

Previously, media reports said that, under the agreement, if Google can not complete the acquisition of AdMob, then need to pay admob 700 million dollars for the break-up fee. Mr Schmidt said: "We do not think we will pay any breakup fees because we expect the deal to be approved." ”

Google's deal to buy AdMob for $750 million is still pending approval from the Federal Trade Commission (hereinafter "the FTC"). The FTC is investigating whether the deal will undermine the competitiveness of the mobile ad market and decide whether to approve the deal. The FTC has said it will seek sworn statements from Google's rivals and advertisers, which means the FTC could block the deal.

"After a tumultuous year, everything is going well," Mr Schmidt said. He also said that Google's Chinese business remained stable after shutting down the Chinese search engine tutorial. However, due to regulatory uncertainties, Google's situation in China is still likely to change. Schmidt reiterated that Google is willing to keep China business.

Schmidt also said that Google persuaded advertisers to increase spending on search advertising, thus coping well with the recent recession. "We did better in the crisis than most of the companies," he says. ”

Google reported last month that profits rose 37% in the first quarter, with revenues rising 23% per cent year-on-year, suggesting a sustained recovery in the online advertising market. However, Google's share price has fallen 17% since this year, and investors are worried about whether Google can find new revenue sources to keep up with growth since its 2004 IPO