China to seek more domestic online games
Filed Under: Business | Posted: 07/25/2009 at 2:05AM
Comments | Region: China
Liu Wei, president of Nasdaq-listed Giant, which is specialized in modern war games, said at a conference during CJ that the company has invested in five game teams and will continue to look for new teams.
Shanda, China’s number one game firm which is also listed at Nasdaq, is promoting its "18 Funds" project during CJ, and the budget will be increased to 3 billion yuan (US$439 million) from the previous 1 billion (US$146 million).
Famous for ancient Chinese martial games, Shanda has invested 500 million yuan (US$73.1 million) in the project so far.
Foreign games are facing higher barriers to enter China as this month the central government issued stricter regulations for the approval process.