Google is planning to buy up to two Chinese companies and invest in as many as five more over the next year, IDG News Service reports.The move is seen as part of the search engine's efforts to gain ground on its Chinese rival Baidu, a fellow search engine and media platform for online marketing customers.
President of Google China Kai-Fu Lee is quoted as saying: "Over the next year, Google will acquire one or two companies in China and invest in four to five companies," although specific companies and technologies were not mentioned.
During a conference call last month Eric Schmidt, Google's chairman and chief executive officer, told analysts that the company's Chinese offerings are competitive.
He said: "It's a very good start and although we don't think that this will result in an immediate huge success, we think that the tenacity of Google ... will bring significant victories in China over the next few years."
Baidu was formed in 1999 by Mr Robin Li and, hugely successful in its home country, today has a market value in excess of $3 billion, according to the New York Times.
The search engine sealed its success within the world's fastest growing economy, the publication adds, by allowing censors from the Chinese government to oversee its website.
Investments and partnerships with China's major companies will play a key role if Google is to make significant gains in the country's market, IDG News Service states.
