China’s Baidu Inc has teamed up with China Life Insurance Co., Ltd. to jointly launch a RMB14 billion (US$2.12 billion) investment fund to back companies in the mobile Internet, artificial intelligence, fintech and other advanced technology sectors. The two companies revealed the formation of the joint fund during a signing ceremony in Beijing today, following an initial partnership agreement announced in February. A Baidu executive declined to provide more details when contacted by China Money Network.