Shanda invests 500 mln yuan in game development

Posted on: Wed, 22 Jul 2009 05:21:00 EDT


Symbols: IELSF
SHANGHAI, Jul 22, 2009 (Xinhua via COMTEX) --
IELSF | Quote | Chart | News | PowerRating -- Shanda Interactive Entertainment Ltd.
(SNDA.NASDAQ), a leading entertainment media company in China, has
invested a total of 500 million yuan in 40 selected game development
companies through its industrial investment fund "18Fund."

Diana Li, CEO of Shanda Games, a business unit of Shanda, made the
remark at a forum held Wednesday in Shanghai.

The CEO added that the fund firm of 18Fund is independent in its
development, financing and effort in getting listed. Li noted that
China's online gaming industry will become more dedicated to the
development of quality products, and the self-development ability is
to be further strengthened.

China raked in 11.1 billion yuan of income with its self-developed
online games during 2008, said Li.

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