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Back then, Chinese exports were mostly channeled through trading companies, which knew little about markets or products, Ni Pin, head of Wanxiang America, told Xinhua.

Baidu Wenku has announced plans to invest 500 million yuan ( million) in improving knowledge services and supporting premium content creators next year. The platform began to run the paid knowledge business in 2013 and has already obtained membership fees, she explained.

Baker: A lot. And IBM does, too. But one of the things that (IBM’s David) Ferrucci established early on in this project was, no papers. Because he didn’t want people looking at the incremental improvements. And the incremental improvements could make a good paper. “Hey, we’ve got this algorithm, nobody’s done it before, and look, it raised our results a full percentage. And that’s worth analysis, right?” He said, no papers. We’re working on something bigger. It’s a shifting of the focus and it’s threatening to these PhDs because they’re in this community where a lot is measured by how many papers you write. And that’s how you’re seen.

Baidu is becoming a major new player in self-driving technology. The company announced a big upgrade to its open-source platform "Apollo 2.0" at the International Consumer Electronics Show in 2018 in Las Vegas, to speed up its development of autonomous vehicles.

Bali said the government is pushing for reforms to streamline administrative processes, such as cutting multiple certificates to one. As such reform advances, mass entrepreneurship and innovation has risen and market vitality has been stimulated, he added.