(Bloomberg) -- China needs to put new regulations and financial subsidies in place to quicken the development of autonomous cars or risk getting left behind, the billionaire co-founder of the nation’s largest search engine said.

Baidu Inc. Chief Executive Officer Robin Li, whose company is competing with Uber Technologies Inc. and Alphabet Inc.’s Waymo to commercialize self-driving technology, wants Beijing to take the lead in getting Chinese enterprises to collaborate on research and craft a regulatory framework. His proposal was included among a raft of others he will put forth at an annual meeting of regulators this week, in a wish-list that includes a dream of seeing a Chinese private space-exploration leader -- a la Elon Musk’s SpaceX.

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