The spate of consolidations between Chinese tech companies continues as yet another industry rivalry is settled in a multi-billion dollar partnership.

Ctrip.com International Ltd. and Baidu-backed Qunar Cayman Islands Ltd. have announced a matchup today that will have a valued worth of approximately $15.6 billion USD.

Unlike other recent match-ups in the market, Qunar and Ctrip’s partnership involves a share swap rather than a straight acquisition or a merger. Baidu will take on 25% of Ctrip, while Ctrip will take approximately 45% of Qunar.

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Cate Cadell

Cate is a tech writer. She worked as a journalist in Australia, Mongolia and Myanmar. You can reach her (in Chinese or English) at: @catecadell or catecadell@technode.com