Baidu (Nasdaq: BIDU) has quietly launched its new group buying site. The site currently offers just 10 deal and the service is currently only available in Beijing.

According to Marbridge Consulting:

Payment for group buy deals is currently handled through online banking systems. Baidu has not yet developed partnerships with third-party payment platforms, and has not connected its own third-party payment tool, Baifubao, to the service.

The company's LBS division will oversee the new daily deal site, according to a source inside Baidu.

China’s group buying market is highly saturated as the top 10 sites accounted for 90 percent of the market’s revenue in 2012.

Baidu, as a late-comer, may find it difficult to establish its own stance in this environment.