BEIJING—China’s Internet search companies and a government-sponsored trade group agreed to a code of conduct on Thursday to moderate tensions in the increasingly competitive search environment in the fast-growing market.
The Internet Society of China said industry giant Baidu Inc., as well as upstart Qihoo 360 Technology Co. and a number of smaller search engines, agreed to “maintain fair competition [and a] fair and orderly market environment.” The market was valued at roughly $1 billion in ad-search …
