Xi's Boao speech receives warm applause

Baidu exec confident about IPR protections

President Xi Jinping's emphasis on the protection of intellectual property highlighted China's determination to nurture innovation and will inspire both domestic and foreign companies to expand businesses in the country, said Zhang Yaqin, president of Baidu Inc.

"President Xi's speech at the Boao Forum for Asia Annual Conference 2018 struck me as a very concrete package of measures to further open China to the world," Zhang said.

"The intensified efforts to further uphold intellectual property rights protections is not only of strong appeal to foreign companies but gives us a big boost in confidence when exploring domestic and foreign markets," Zhang added.

The seasoned executive, who has work experience at both Chinese and American tech giants, said IPR protection is a key driver for companies to invest heavily in cutting-edge technologies, which will bolster the country's long-term growth.