Baidu CEO Robin Li says he sees lots of investment opportunities in the Chinese economy.
"The overall Chinese economy is so friendly to [the] Internet that you can find opportunities in almost every vertical sector," he said Friday at the DCM Ventures CEO Summit in San Francisco.
"That's why we think we have a chance to get a piece of that, but we just cannot afford to do it by ourselves because nobody can do everything perfectly."
The Chinese Web services company saw its stock plunge about 6 percent in extended-hours trade on Monday after forecasting revenue fell below average analyst estimates. The Chinese search engine giant said it expects revenue of 18.17 billion yuan ($2.93 billion) to 18.58 billion yuan ($2.99 billion), below the 18.79 billion yuan ($3.03 billion) expectations of analysts polled by Reuters. The firm reported second-quarter earnings that beat on both the top and bottom lines.
Li said that the perception that his company does not invest in start-ups is wrong. "We actually invested in a lot of companies and we only take a minority stake. We are trying to form a friendly ecosystem for Baidu so that going forward we get into new areas," he said.
—CNBC's Evelyn Cheng contributed to this report.