Baidu de­fends state sup­port for firms

New Straits Times - - Business -

State sup­port for pri­vate firms is cru­cial in China’s mar­ket, said Baidu yes­ter­day, fol­low­ing com­plaints from Euro­pean busi­nesses that Bei­jing-backed firms are push­ing out for­eign com­peti­tors. “...In China, the govern­ment wields a very im­por­tant role... such as to pro­vide data to al­low com­pa­nies to do bet­ter re­search,” said chief ex­ec­u­tive Robin Li af­ter an­nual par­lia­ment meet­ings this week. “The Chi­nese mar­ket has its own char­ac­ter­is­tics; it’s not the same as the US or even France,” he said.

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