Taobao is China's answer to eBay.

Now, Taobao is planning on getting physical. Taobao plans to build a 12,000 square meter, three story mall on Shanghai's main drag - Nanjing West Road.

The state-owned company that will operate the story pays Taobao $1.25 million each year to use the Taobao name.

The plan is to recruit sellers who use Taobao and charge them for space.

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