Video sharing site Tudou and Myspace China have signed partnership agreements with CCTV.com, the online derivative of Chinese Central TV station to broadcast the 2008 Beijing Olympics. In addition, Myspace and Tudou will provide an online platform for Olympics viewers to interact with athletes and with each other.

Local media reported today that China’s leading search engine provider Baidu (NASDAQ: BIDU) is planning on launching its in-house social networking platform. According to the report, Baidu has now formed a partnership with China Education and Research Network (CERNET) to reach university students accessing Internet through CERNET’s over 20 million terminals across China.

Chinese SNS site FaceRen announced yesterday that it has received 10 million RMB ($1.4 million) in venture funding from the China Education and Research Network (CERNET). In addition, the two companies will collaborate on promotion and product development.

Chinese mobile SNS company PICA announced today that it has completed its third round of financing with $10 million venture funding from Crosslink Capital, IDG Venture Capital and BlueRun Venture Capital.

Myspace China (Public, NYSE:NWS.A) launched its IM software today to enhance the myspace.cn site. According to the company executives, the IM tool was developed based on game portal IGN’s IM software. The IM client supports up to 200 friends and users will have to download and install the software. However, the company said the Myspace IM will continue expanding its functions and offer an installation-free version. Launched at the end of April, Myspace China has approximately 600,000 registered users and the company expects to add 70,000 to 80,000 in each of the coming months. Source: sina.com.cn