Baidu chief executive Robin Li Yanhong warned that “winter is coming” as China’s economy shifts to a lower gear, while challenging employees at the company he co-founded to step up their game. That is giving companies like Baidu a chance to help customers bring down costs, improve efficiency and find new development opportunities, he said. “It’s high time that Baidu stepped forward as a platform company.”Li said the Beijing-based search engine operator had surpassed 100bil yuan (RM60.39bil) in revenue last year. Analysts following the company had estimated annual sales of 101.45bil yuan (RM61.26bil), or an increase of about 20% from 2017. Talk of “winter” has been increasing in Chinese business circles of late as the world’s second economy experiences its slowest growth in decades.

Source: The Star January 02, 2019 10:41 UTC