The present invention discloses an information processing method and apparatus, including: obtaining a local to-be-transmitted signal by using a local transmitter, and inserting first pilots and second pilots, where the first pilots are inserted from a first position of the local to-be-transmitted signal, the second pilots are inserted from a second position of the local to-be-transmitted signal; obtaining a local transmit signal; obtaining a peer transmit signal, where the peer transmit signal is sent after third pilots and fourth pilots are inserted, the third pilots are inserted from a third position of the peer transmit signal, the fourth pilots are inserted from a fourth position of the peer transmit signal, the first pilot is orthogonal to the fourth pilot, and the second pilot is orthogonal to the third pilot; and parsing the local transmit signal and the peer transmit signal by using the local receiver.