Netflix has partnered with the popular Chinese video website iQiyi in order to enter the Chinese market. Netflix had previously tried and failed to enter China on its own, saying that the regulatory environment made it difficult for foreign businesses to operate in the country. To get around this regulatory hurdle, it has decided to partner up with iQiyi. The deal means that Netflix will license content to iQiyi, who will then make the content available to its customers. iQiyi has 481 million monthly active users, a healthy proportion of China's estimated 569 million online video viewers.