Baidu to fund Chinese SMEs

Baidu (BIDU.NASDAQ), China’s biggest search engine, said Monday that it plans to invest RMB3 billion (US$470.6 million) in two million small and medium enterprises by the end of 2015, in an effort to build their companies, Reuters reported. Baidu will train 100,000 search marketing professionals in order to help SMEs build out their service platforms. It will also help government departments in their research on businesses, and provide free marketing on under-developed regions. Baidu maintains a 77.7% share in China’s search market, far above its rival Google’s (GOOG.NASDAQ; GCQ1.FWB) 18.3%. However, its near-monopoly position means the firm must balance government demands and censorship with market-oriented activity.