On July 30, the government of Shanghai Pudong New District said it planned to invest over RMB 10 billion ($1.4 billion) in content and technological innovation in the gaming industry within the next five years. The government said it will also allocate at least RMB 100 million ($14 million) annually to support major industrial activities and provide a subsidy of up to RMB 2 million ($280,000) for creative events held in Pudong. Home to renowned video game companies such as Lilith, HoYoverse, and HyperGryph, Shanghai has seen its potential grow recently in animation and AI-powered online games. In 2022, its online game industry reached a total revenue of RMB 128 billion ($18 billion), according to statistics from the Shanghai government and research firm CGN. [CLS, in Chinese]
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