It now seems all but official that Google (NSDQ: GOOG) will pull its search operations in China; Chinese media says Google will make an announcement Monday and the search engine could shut down as soon as April 10.

The likely big winner in all of this: Baidu, which already controlled more than 50 percent of the Chinese search market to Google’s roughly 30 percent. So, how much value is Google handing over to Baidu? (NSDQ: BIDU) One measure: In the two months since Google first issued its China manifesto, Baidu has gained nearly $13 billion in market value (Its stock is up a whopping 42 percent, completely reversing a 10 percent drop during the prior two months). By contrast, Google has lost about $7 billion in market value (its stock down nearly 7 percent), while the S&P 500 has been flat.

(via Google Finance)

• Google In China: More Fallout
• Google May Shut Down Operations In China
• ... And Google Was Just Gaining Some Ground In China
• Is Google Finally Ready To Make Its China Move?