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China tech

Baidu fundraising puts $3bn value on smart device business

Chinese search leader enlists IDG and CITIC arm as investors

Baidu's Xiaodu robot has facial and voice recognition features.    © Reuters
MICHELLE CHAN, Nikkei staff writer | China

HONG KONG -- Chinese web search leader Baidu has brought in outside investors for its voice assistant and smart device business, setting the stage for a potential spinoff while valuing the operations at 20 billion yuan ($2.9 billion).

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