Trad­ingBaidu gears link couldup driver­lesshas­ten MSCI tech­nol­ogy en­try

In­ter­net gi­ant makes big Move in­vest­men­topens upin US $6.6 tril­lion do­mes­tic lidar share sen­sor mar­ket maker to over­seas in­vestors

China Daily (USA) - - BUSINESS - By CAI MENGJINGXIAO in andDUXIAOYINGBei­jing caix­iao@chi­ cn Con­tact the writ­ers at mengjing@ chi­ and dux­i­aoy­ing1@ chi­

Baidu Inc has added fuel to Chi­naits ef­fort has to tak­en­put driver­less another ma­jor­cars into step mass to­ward pro­duc­tion open­ing its within fi­nan­cial­five years mar­kets with af­ter­its ap­prov­ing mul­timil­lion a pro­gram­dol­lar in­vest­ment that will al­lowon Tues­day in­vestors in ina ma­jor Hong KongUS pro­duc­erto trade of eq­ui­ties­l­i­dar sen­sors,on the Shen­zhena key tech­nol­o­gyS­tock Ex­change,that helps an­a­lyst­s­the cars “see”said on their Wed­nes­day. sur­round­ing By en­vi­ron­ment­fur­ther open­ingby us­ing its $6.6 light to tril­lion mea­sure do­mes­tic dis­tance. share mar­ket Cal­i­for­nia-basedto for­eign Velo­dyne traders, they LiDAR said Inc, China which was pro­vides ad­dress­ing sen­sor lim­i­ta­tions tech­nol­o­gyto main­landthat can trad­inghelp flagged driver­lessby the glob­al­cars, in­dex an­nounced com­piler that MSCIit had when­com­pleted it re­jecteda com­binedthe stocks $150in­lion “The in­vest­ment Shen­zhen-Hongfrom Ford Kong Mo­tor StockCo and Con­nec­tBaidu. should move Bei­jing-basedChina fur­ther Baidu along did the road­not dis­clos­eto MSCI the in­clu­sion­size of an­dits we in­vest­ment.see this But an­nounce­men­tFord, which as an­nounceda sig­nif­i­can­ton Tues­day cat­a­lyst forits Chi­ne­se­plan to pro­duce mar­kets, fully par­tic­u­larlyau­tonomous at a time ve­hi­cles where for fun­da­men­tal­ride-hail­ing strength­ser­vices by and 2021, in­dus­tri­al­said it prof­itabil­i­ty­in­vested $75 mil­lionare build­ing,”in the said lidar Dou­glassen­sor com­pany. Mor­ton, head of Velo­dyne,re­search at North­ern­which Trust­was Cap­i­tal founded Mar­ketsin 1983, Asia. said in a state­ment“I am sure that the the stock in­vest­ment con­nect is will an help im­por­tant­the com­pany com­po­nent ex­pandof MSCI,” pro­duc­tion­said Charlesand Li, make chief sen­sors ex­ec­u­tive more of­fi­cer af­ford­able of Hong for the Kong mass Ex­changes de­ploy­ment & Clearingof fully au­tonomousLtd. ve­hi­cles.

“Now“We want it’s the ac­tu­al­ly­cost to hap­pened,be low enoughso that’sto be amongused for manyall thingscars. We that en­vi­sion in­cre­men­tallya safer will make world the for A-sharethe mil­lions mar­ketof more and more ac­ces­si­ble to in­ter­na­tional in­vestors.”

The long-an­tic­i­pated Shen­zhen-Hong Kong Stock Con­nect, which al­lows main­land in­vestors to buy Hong Kong stocks and vice versa, had been ex­pected for more than a year fol­low­ing a sim­i­lar pro­gram be­tween Shang­hai and Hong Kong in 2014.

The China Se­cu­ri­ties Reg­u­la­tory Com­mis­sion on Tues­day night also lifted re­stric­tions on as­set flows, say­ing it wouldn’t im­pose an ag­gre­gate quota for the Shen­zhen link, and that it would au­to­mo­tive driv­ers across the globe,” said Marta Hall, Velo­dyne’s pres­i­dent of busi­ness de­vel­op­ment.

Wang Jin, se­nior vicepres­i­dent re­move the and ex­ist­ing gen­eral cap man­ager on the Shang­haiof au­ton­o­mous pro­gram. driv­ing unit The of daily Baidu, lim­its said for the the in­vest­ment­stock con­nect will will ac­cel­er­atebe the Baidu’ssame as ef­forts­for Shang­hai’s,in au­ton­o­mous 13 bil­lion driv­ing.yuan ($1.97 bil­lion) for “Baidu or­ders goingis north de­vel­op­ingto the au­tonomous­main­land and ve­hi­cles10.5 bil­lionin or­deryuan forto in­crease south­bound pas­sen­ger traf­fic. safety “The and re­moval re­duce of traf­fic­the con­ges­tion over­all quota and marks pol­lu­tion­the in fur­therChina,” open­inghe said up in of the China’s state­ment. cap­i­tal ac­coun­tThe in­vest­men­tand I am to sur­prisedgear up ex­pan­sionit came now,” in said au­tonomousHong Hao, driv­ingchief strate­gist­comes at at a Bo­com­time when In­ter­na­tional Baidu’s Hold­ings tra­di­tion­alCo. search busi­ness has been weak­ened by the tighter con­trols over in­ter­net ad­ver­tise­ments, and it is look­ing at driver­less ve­hi­cles to be­come anewengine to spur the com­pany’s growth.

An in­dus­try ob­server said that Niu the Huay­ong, in­vest­ment­dean of theis ex­pected Busi­ness Schoolto help at Bei­jingBaidu achieve For­eign its Stud­ies am­bi­tious Univer­sity,goal of get­ting­said the driver­less­stock con­nect­cars on was the an road in­sti­tu­tional,within three long-term years, move­and puttingto pro­mote these the cars de­vel­op­mentinto mass pro­duc­tionof Chi­nese cap­i­tal within five mar­ket. years.

Zeng “The stock Zhiling, con­nect man­ag­ing makes di­rec­torthe fi­nan­cialof LMC mar­kets Au­to­mo­tive of Con­sult­ingHong Kong Co and Ltd, main­land­said that the closer in­vest­men­tand it’s al­sois the good right for waythe Chi­nese for­ward gov­ern­ment­for Baidu to to ex­pand ac­cu­mu­lateits busi­ness. ex­pe­ri­ences for fur­ther open­ing up the cap­i­tal mar­ket,” said Niu.

In­vestors buy­ing into Shen­zhen will have ac­cess to any stock in the Shen­zhen Stock Ex­change Com­po­nent In­dex and Shen­zhen Stock Ex­change Small/Mid Cap In­no­va­tion In­dex that has a mar­ket value of no less than 6 bil­lion yuan, ac­cord­ing to Hong Kong’s Se­cu­ri­ties and Fu­tures Com­mis­sion.

Any com­pany that’s dual listed in the city as well as Hong Kong will also be avail­able, while buy­ing shares traded on Shen­zhen’s ChiNext small-cap gauge will be lim­ited to in­sti­tu­tional in­vestors ini­tially.

the com­bined mar­ket cap­i­tal­iza­tion of com­pa­nies listed on Shen­zhen Stock Ex­change

Bloomberg con­trib­uted to this story.


Ford CEO Mark Fields shows off the new Velo­dyne Puck sen­sor at a news con­fer­ence on CES Press Day in Las Ve­gas, Ne­vada.

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