Chinese tech giant Baidu Inc. has formally proposed listing its popular online-video unit iQiyi in the U.S. in an initial public offering likely to value the company at up to US$10 billion. In its annual earnings report issued today, Nasdaq-listed Baidu said it has submitted a draft registration statement on Form F-1 to the U.S. Securities and Exchange Commission for a proposed IPO of iQiyi. Sometimes referred to as the Netfix of China, iQiyi competes with Alibaba Group Holding Ltd.’s Youku Tudou …

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