(Yicai Global) July 28 -- Chinese internet giant Baidu Inc. [NASDAQ:BIDU] reached an agreement with international online payment provider PayPal Holdings Inc. [NASDAQ:PYPL] to provide a new approach to cross-border online shopping for Chinese consumers.

Under the cooperative framework, nearly 17 million of PayPal's international merchants will be able to sell to Chinese consumers through Baidu Wallet, the Chinese search provider's online payment application and service platform.

PayPal will work with Baidu Financial Service Group to expand shopping options for Chinese consumers and open up a new payment gateway through Baidu Wallet.

Baidu is not as competitive in the domestic online payment sector, with Alipay, run by Alibaba Group Holding Ltd. [NYSE:BABA], and WeChat Wallet, run by Tencent Holdings Ltd. [HKG:0700], holding the lion's share of the market.