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Chinese Internet Firms Sweep US IPO Market

This is a transcript of top stories presented by China's CCTV Business Channel as produced by CNBC Asia Pacific.

Good evening, I'm Saijal Patel from CNBC and you're watching “Asia Market Daily”.

Two Chinese internet companies have swept through the US IPO market.

Online TV site Youku.com was up 161 percent from its IPO price of $12.80.

That's the best first day surge for an IPO in the US since Baidu's 354 percent jump in 2005.

And online bookseller Dangdang also impressed, soaring 87 percent.

Its co-founder, Peggy Yu Yu says more and more people are making the transformation from internet users to internet shoppers, a trend Dangdang is hoping to benefit from.

(SOT) Peggy Yu Yu, Co-founder, Dangdang:

“I think between the retail push and internet population growth, Dangdang has a huge customer growth base. We're doing the business for 10-11 years. We did very well, and going forward, I have every reason to think they we are doing very very well, even better.”

The company says it's trying to diversify and sell more than just books on its site.

And the firm isn't concerned about its competitors. In fact, Dangdang is looking at other internet players for tips on how it can grow its business.

(SOT) Peggy Yu Yu, Co-founder, Dangdang:

“The way I look at competitors is, they can provide a lot of lessons that Dangdang can learn from, and we can take shortcuts from competitors' mistakes and then doing better things for our customers.”

That's the latest on the recent Chinese IPOs in the U.S.

I'm Saijal Patel from CNBC.

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