Google's Schmidt: I Understand Chinese Market Well
On his the second day of China Trip, China Business News interviewed Google's ceo's Eric Schmidt on Apr. 12
CBN: What's your expectation for the Chinese Market?
Schmidt: The major part of our work in China, or our major focus is not how much money we make, but how can we provide better services to our end users. We already have several million new users in China. The fast growing number makes me feel very fortunate.
CBN: Baidu said that, since you will only spend several days in China this time, you will not be able to understand the Chinese market. What do you think?
Schmidt: I have visited China many times in the last few years. Contrary to what they said, I have quite in depth understanding of the market.
CBN: Baidu also thinks Google will gradually losing market share in the next five years, just like many other foreign internet companies who could not swim well in this unfamiliar waters?
Schmidt: It is incorrect opinion.
CBN: When do you think Google will surpass Baidu in market shares in China?
Schmidt: We should not look at this as a horse race. I'm more focused on when our engineers will develop exciting new products. These perhaps will pass even my imagination. We could see some success this year.
CBN: How do you face the fact that Baidu has far outpaced Google in market shares?
Schmidt: The reason for that have happened is we had not really entered China. We did not have a local management team. However, Baidu has established a local team who understands local culture. So, it is a small mistake we have made. We have done things to correct the situation. We are putting our focus on the engineering team and innovations. Hopefully, our engineers will change the competition landscape in the future.
CBN: What's Google's future plan in China for the next few years?
Schmidt: This summer, our China Research Institute will have over one hundred engineers. We plan to hire several thousand engineers in the next couple of years.
In China, Google's largest investment will be on employees. We will build a large data center at the end. We will work with our partners, for example, with the National Library, to digitize books.
Translated from Chinese article
CBN: What's your expectation for the Chinese Market?
Schmidt: The major part of our work in China, or our major focus is not how much money we make, but how can we provide better services to our end users. We already have several million new users in China. The fast growing number makes me feel very fortunate.
CBN: Baidu said that, since you will only spend several days in China this time, you will not be able to understand the Chinese market. What do you think?
Schmidt: I have visited China many times in the last few years. Contrary to what they said, I have quite in depth understanding of the market.
CBN: Baidu also thinks Google will gradually losing market share in the next five years, just like many other foreign internet companies who could not swim well in this unfamiliar waters?
Schmidt: It is incorrect opinion.
CBN: When do you think Google will surpass Baidu in market shares in China?
Schmidt: We should not look at this as a horse race. I'm more focused on when our engineers will develop exciting new products. These perhaps will pass even my imagination. We could see some success this year.
CBN: How do you face the fact that Baidu has far outpaced Google in market shares?
Schmidt: The reason for that have happened is we had not really entered China. We did not have a local management team. However, Baidu has established a local team who understands local culture. So, it is a small mistake we have made. We have done things to correct the situation. We are putting our focus on the engineering team and innovations. Hopefully, our engineers will change the competition landscape in the future.
CBN: What's Google's future plan in China for the next few years?
Schmidt: This summer, our China Research Institute will have over one hundred engineers. We plan to hire several thousand engineers in the next couple of years.
In China, Google's largest investment will be on employees. We will build a large data center at the end. We will work with our partners, for example, with the National Library, to digitize books.
Translated from Chinese article
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8:04 PM
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