Baidu CEO Robin Li has called Baidu a “pioneer in China’s economic reform and opening” amid slow fourth-quarter growth and record-high sales revenue in 2018.

Li made the comments in a new year letter to Baidu’s employees, saying the company had reached a milestone of RMB 100 billion ($15 billion) revenue driven by mobile search and the information feed in its Baidu App, according to Chinese media.

Li said that as a company “most driven by technology in China,” it had been refocusing on product development. A Baidu spokesperson confirmed the authenticity of the letter to TechNode without providing further details. The company generally releases its year-end financial results in February.

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Jill Shen

Jill Shen is Shanghai-based technology reporter. She covers Chinese mobility, autonomous vehicles, and electric cars. Connect with her via e-mail: jill.shen@technode.com or Twitter: @yushan_shen