Google has not given up on China and is looking for ways to re-enter the market, according to CFO Patrick Pichette.

The report in the Times of London says that Google is looking to capture the 1.2 billion strong Chinese market.

Google used to comply with China's censorship it stopped doing so after it discovered an attack on Gmail accounts of Chinese dissidents, which was driven by the government.

It then redirected users in China to Hong Kong to provide unfettered content. Internet in China is tightly controlled by authorities and all search engines must submit to that.

Google's refusal almost led to the cancellation of its license and it shut shop in China. Now as Google sees business slowing in Europe and the US, the temptation to go back is greater.