Chinese fund to inject billions in internet development
Online entertainment, especially streaming and gaming, has gained significant popularity among hundreds of millions of Chinese in the past few years [Xinhua]
Addressing the growing web population in China, a number of investor groups announced on Sunday a fund to invest $14.6 billion in internet companies.
A third of the amount has already been raised, main investor Industrial and Commercial Bank of China (ICBC) announced on Sunday.
The ICBC has itself contributed $1.46.