Baidu hires Amex VP

It is reported that Baidu had hired a vice president of the world's largest credit card company, American Express.

Shen Haoyu, a Shanghai native, is vice president of American Express in charge of personal credit card business.

To hire such high profile executive, may indicate Baidu's increased ambition of becoming a powerful search player outside of China to compete head on with Google.

It could also indicate Baidu's intention to get into the finance sector based on Shen's background. A payment system similar to Google Checkout will not only help Baidu in it's advertising business but also help the whole e-commerce sector in China and thus further boost Baidu's business.