Quotable

In the future, vehicles could be self-driven and controlled by smart systems. We have set a target to commercialize our operations in the next three years."

Wang Jin, senior vice-president of Baidu Inc, who says the company has set up a new business unit focusing on research and development in self-driving technology and plans to mass-produce self-driven cars within five years.

"Reform comes at a price. The revamp of major SOEs will first involve shutting down excessive industrial capacity, laying off people, and painful debt restructure. All of these will weigh on the economy in the short term."

Hong Hao, chief strategist at investment bank Bocom International Holdings Co in Hong Kong, commenting on reform of state-owned enterprises.

(China Daily Africa Weekly 12/18/2015 page19)