Chinese search engine firm Baidu has revealed it is to invest over 10 billion yuan (£1bn) in a new cloud computing centre.
The company's CIO, Jennifer Li, made the announcement at the company's annual conference in Beijing, at the same time as Baidu unveiled a mobile version of its Baidu browser.
According to a report by the Chinese government in July, more people – 388 million – in China now access the internet from mobile phones than from desktop PCs.
Baidu said its Mobile Browser performed 20 per cent faster than its closest competitors in internal tests.
Li said that Baidu hopes to have the Mobile Browser installed on 80 per cent of China's 388 million internet smartphones by the end of 2012.
Baidu's new browser will complement its mobile operating system and low-cost smartphones, as the company looks to open up new revenue streams to supplement its main web search business in the face of growing competition. Last month, Chinese web technology firm Qihoo 360 entered the search market, causing Baidu's share valuation to dip 17 per cent.
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