Don't worry about American internet companies running to China to compete with you.

When it comes to competition with foreign internet companies, Robin Li believes that competition is a good thing, can promote both sides to grow, but foreign internet companies in China "do not pick up the Earth", he cited Google for example, "his Chinese name Google-Harvest song, think the Chinese harvest is happy." Real Chinese internet people do not care about the harvest is not good, with the method of doing business in China the probability of failure is very high.

In terms of internationalization, Li said that Baidu is currently in Thailand, Egypt, Brazil, Indonesia and many other countries have their own branches, some countries have not low market share, permeability can to 20%-30% level.

On the issue of corporate development, Li said that the main development ideas are on their own, the acquisition is only as a supplement. None of the successful companies in the world are wholly dependent on acquisitions, the vast majority of successful companies rely on their own development, it said. "We are also willing to consider the acquisition, in the development process found that some companies are very suitable for Baidu development, with our direction of development, we are willing to buy."

In terms of corporate governance, Robin Li said he was out of date, if the subordinate's opinion is inconsistent with him, he would like to listen to subordinates, "If I am wrong to tell you, I said at that time, we disagree, now since the wrong, you follow my advice again."

The following is a transcript of the dialogue:

Chan: This link we use in Chinese, we talk about it, this is undeniable in China 10, 8 years is a very important event, I give you a few examples to make a primer. The use of Chinese PCs took 8 years to surpass the U.S. total, and it took more than 2007 years to overtake the US. But with mobile devices in the past two years, more than the United States, now in China with the Internet is more than twice times the United States, and 80% in China using the Internet is mobile internet, can be said that China's technical rapid. On the other hand, Baidu is not the main dry electricity business in this respect, but can give friends here a concept, China's retail turnover in the past 5 years increased 1.8 times times, but the electricity quotient has increased 19 times times. We all know that November 11, 2013 one day, Alibaba sold 5.7 billion U.S. dollars, now Alibaba has more than ebay and Amazon combined together more than the total, so in the High-tech field of China Rapid. Today is very honored to be able to China's three major electronic commerce and the Internet, one of the giants of Li please come here, China has a word called bat,b is Baidu, Mr Li created Baidu, A is Alibaba, T is Tencent. The three giants are Big Macs in the Internet world, and are more than 610-1000 billion in market capitalisation. I have done a good job in real estate, do it is only more than 100 billion.

Robin Li: Market capitalisation does not account for all the problems, mainly on the health level. Just now you said that China's e-commerce growth is very fast, how many times in the past, I think if we compare the United States and China E-commerce to make a comparison, what is more interesting? Now China's e-commerce accounted for the proportion of Chinese retail and U.S. e-commerce accounted for the proportion of U.S. retail is already the same. But China's e-commerce is still growing at a rate of 70%-80%, while US e-commerce is 10% growth. It can be imagined that in another 3-5 years, or even 10 years, 8 years, e-commerce accounted for the proportion of retail sales will be significantly more than the United States, then look at the Chinese internet market, or the whole of China's economic shape will be very big changes, this is a retail industry. In fact, in addition to retail, almost all Chinese talk about traditional industries, or mainstream industries will be the impact of the Internet, the retail industry there will be no more controversy, the internet has a very, very big impact on retail. For example, finance, today is the Asian Financial Forum, the financial impact of the Internet is also very obvious, whether it is the fund, insurance, banks, everyone is talking about this thing, are looking for us to ask how we can better embrace the Internet, how to better cooperation, to do something. People think the impact of the Internet on finance is also very obvious.

Chan: What's more frightening is that internet companies do their own banking, travel agencies, banks do everything.

Li: In addition to the bank travel, OTA, online offline also has a very big impact. The auto industry, China's U.S.-listed car site has two, each 3 billion U.S. dollars in market value. There are not many similar companies in the United States, because the United States offline car industry is very developed, China because the offline industry has not had time to develop well, the internet has come, a lot of impact on them. The future of health care, education more fundamental to the livelihood of the industry will also be a huge impact on the Internet, this is a very unique opportunity for China, this opportunity in the United States is not. America we look at the internet has been a relatively independent industry, constantly innovating, inventing new things, and then occupy the market. For China, the Internet is not a simple invention of new things, is for the offline industries in a very big transformation and impact, we see the Chinese Internet opportunities than the United States. China's market economy in total only more than 30 years of history, from the reform and opening-up to the present, the real market-oriented Chinese companies are not long history, a long decades, short or even more than 10 years, a few years, without a real market-oriented training of Chinese companies, when faced with the Internet and mobile internet impact, is actually very uncomfortable. In this case a lot of Internet practitioners say OK, if you as a traditional industry if you do not do these things, then I do, I will take the opportunity to occupy. We see vertical websites, car sites, travel sites, they all do some work, they're very valuable and they're growing fast, and we don't see much of a company in America. This is just the beginning, the future of the internet for China's medical system, the education system has a greater impact, it is a great change, not only in the wealth redistribution and creation, more for people's lives, the whole society's shape and culture will have a huge impact. This opportunity is given to China, not only to the Chinese Internet practitioners, entrepreneurs, but also to all of China's economic activities, if they can embrace the Internet, use the Internet thinking to do that industry, there is a great opportunity.

Chan: You are subversive, and you can't turn me upside down.

Li: We do not understand the real estate, we need to learn, for you you think you do not understand the Internet, you can also learn, the opportunity for everyone is fair, if you learn to do more quickly a little more to take up some space, I learn faster I take up some more. I think this opportunity is for everyone, a lot of things to do without doing.

Chan: There are so many new technology developments in China's Internet, so many products come out, like Google, Apple, they have a lot of product in the powder magazine, do not know when to come out. BAT is the three most representative, you in the product development is not very advanced?

Robin Li: There is a process, the early days when the Chinese internet has a saying is c2c,copy to China, copied to the Chinese, as the Chinese internet market is more and more not like this, like Baidu's post, Tencent's micro-letter, Ali Taobao, Alipay has many unique Chinese innovations in it. I think there will be more unique innovations in China in the future. When the market is small you can not hire a lot of excellent technical personnel, when you become larger, with the United States Internet companies competition, China's own innovation must be more and more. Two markets are not the same, the U.S. market economy has developed 200 years, the traditional industry is also very strong, traditional Chinese enterprises only a few decades, traditional enterprises have not got up after the internet and mobile internet impact. Innovation, the United States has American innovation, China has China's innovation.

Chan: Are you worried that American internet companies are coming to China to compete with you?

Robin Li: I think it is a good thing to have a competitive edge and a higher level of competition. We are looking at the history of China's Internet over the past more than 10 years, and other foreign companies that have not had much success. The main reason is that they did not really study China as an independent market in the past, and many of them took it for granted. A popular word in China's internet sector is grounded, saying that if you don't understand the local situation, it's hard to get a foothold in the market. I remember more than 10 years ago there is a site of the domain name is myrice.com, Chinese is more to rice, do not know how many people remember this site. Why the name? China is mainly agricultural countries, more rice to make people feel, this is what we want. If you know China, you will find that the Chinese netizens at that time is probably 10 million-20 million, this 10 million will be the internet is not to eat people, you get more rice and he did not feel. The same mistake Google into China also committed, China's name is Google, the Harvest song, feel the Chinese harvest is happy. Real Chinese internet people do not care about the harvest is not good, with the method of doing business in China the probability of failure is very high. China is very different from the United States of the market, at the same time it is high growth, the potential is very large, so there needs to be a completely separate approach.

Chan: I had dinner in Beijing two years ago. You came, Google founder also came, when you explain why you succeed, why Google can not succeed. I'm not going to talk about that question today. Will Chinese internet companies be internationalized?

Robin Li: We're going to go out, and we're out, but we're not going to go out and hit the U.S. market, the United States has very strong internet companies there, but other countries do not have a very strong market. Baidu is currently in Thailand, Egypt, Brazil, Indonesia and many other countries have their own branches, some countries have not low market share, permeability can to 20%-30% level. So in the next few years we will go out of China and occupy a place in other markets.

Chan: One more question, now the hot question is cloud computing, in which way do you think China is better than the West? Advanced, backward or what? What have you been up to?

Robin Li: We've invested a lot in this area, and we really agree that cloud computing represents the future trend. Judging by the trend, I think China, or Baidu, is consistent with the American Internet company, and we think that the whole society will develop in the direction of cloud computing. But as far as technology is concerned, the United States is certainly very advanced, and it is not weak for China. From the actual market can provide products and services to do a comparison, you will find in the United States if you want to cloud storage, want dozens of GB of cloud storage, each month to pay dozens of dollars. Baidu in China provides 2TB of cloud storage, free of charge. 2TB of cloud storage space is available to everyone. We can provide it at more cost, not because people are cheap, but technologically more advanced.

Chan: The electricity bill is very expensive.

Robin Li: We're trying to save electricity, and there's a lot of technical stuff here.

Chan: Time problem, Baidu said there are a lot of innovative things, but also acquired a lot of the day before yesterday, I was talking with Wei, said you bought 91 wireless, you mainly rely on acquisitions or their own development? Or the two together, what do you think your innovative products are the greatest?

Chan: The main development idea is to rely on their own development, acquisition is as a supplement. I think that no successful company in the world is entirely by acquisition, most successful companies are independent development. We are also willing to consider the acquisition, in the development process found that some companies are very suitable for Baidu development, with our direction of development, we are willing to buy, last year, the acquisition of 91, 1.9 billion U.S. dollars, is China's largest internet acquisition. The vast majority of Baidu's things are their own development, their own development. The most important Chinese search, natural language understanding technology recently developed very fast, you ask Nicholas Tse's son Who and Nicholas Tse is whose son, give the answer is not the same. There are not many people in the Palace Museum, they can tell you that there are not many people, these technologies are now. As well as the technology of image recognition, I take a picture to find out all the Chan photos on the internet. These technologies are very interesting, high technical content, are Baidu's independent innovation.

Chan: The last question, you have recently been sealed as the richest man in the country, do not know should not congratulate you, ask your personal things, your wife I also know, home is very good, you will always do old, do die? Now more than 40, your interest in addition to business is still where? Can you make the successful entrepreneur of your generation, especially the High-tech entrepreneur, at my age want to do anything but money?

Robin Li: That's a good question, and I have to explain, the main purpose of my work is not to make money, I decided to start a business when I know that if the entrepreneurial success I can earn a lot of money, but really let me up so early every day, sleep so late because of how much money I can earn, but I really like this thing. Like this thing strictly speaking is not I like to do business, if I change to different areas I do not like, I like what I do now to let people access to information technology, because I am the University of this, I was studying in Beijing when learning is information retrieval. Until many years later, after the internet, I have not given up this business for so many years, has been doing this thing. This thing is just a lot of people need, and very money, so I am very lucky! I can do long time, I do not know how long I can do, I do this thing in the interest, not I have to do, I can not do, but I would like to do.

Chan: Some people say that Alibaba Jack Ma 50 years old, you are about 45 years old, horse 40 years old, 5 years in the internet is a generation, two generations, when you people will become obsolete?

Li: In fact, we are out of date, I am both inside the company and outside the company I say, I said that people's creativity peak 30 years old, or even 30 years ago. What do we have? Experience, we go through what road, can tell him we have done this thing, get what experience, you do when you make reference, you make decision. My company management style, my subordinates if the management disagree listen to him, if wrong I tell you, I said at that time, we were inconsistent, now since the wrong, you follow my advice again. So the Internet must be his decision, and he will do it instead of us.

Chan: Thanks again to Mr. Robin Li.