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中国

China's Baidu sets up $3 bln internet investment fund

BEIJING Oct 12 China's Baidu Inc said on Wednesday it has established a 20 billion yuan ($3 billion) investment fund, Baidu Capital, focusing on mid- and late-stage deals in the internet sector.

Investments can be in both Chinese yuan and U.S. dollars, with investment projects ranging from $50 million to $100 million, China's dominant internet search company said on its official WeChat mobile messaging account. ($1 = 6.6685 Chinese yuan renminbi) (Reporting by Paul Carsten; Editing by Stephen Coates)

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