China's search engine company Baidu Inc. (BIDU.NASDAQ) signed a strategic cooperation agreement with Changzhou government, Jiangsu Province, on Tuesday to set up a big data industry park in Changzhou Zhonglou Economic Development Area with an overall investment of five billion yuan.
The big data industry park of Baidu will be constructed into a center for big data operation and a cluster that gathers venture capital across China and help the capital connect with startups and innovation programs. According to the agreement, Baidu will support the R&D and industrialization of unmanned vehicles on the basis of the Internet giant's R&D of unmanned vehicle technology and Changzhou's local automobile industry chain.
In the meantime, Changzhou aims to improve smart-city-related technology and product system and construct new big data industrial system with the help of Baidu's basic technology.
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