Leading Chinese gaming group to target overseas markets

Perfect World, a leading Chinese movie and gaming conglomerate, will make moves to expand in foreign countries, as it scrambles to target overseas gaming enthusiasts.

CEO Robert Xiao said, "The Belt and Road Initiative is bringing opportunities not only for infrastructure companies but for internet content firms like us. With the rising presence of China in the global stage, it is easier for Chinese players to accelerate overseas expansion."

According to Xiao, while some countries and regions related to the Belt and Road are not yet well-developed, Perfect World still sees an opportunity.

"If Huawei or Lenovo has a good presence there, for instance, it shows that the countries already have robust telecom infrastructure, a big smartphone or PC population, which is a good hardware foundation for our entry," Xiao said.

Perfect World already has a sprawling presence in overseas markets thanks to popular self-developed online games, and by acquiring a slate of innovative foreign game developers.

The group now has more than 20 branches in foreign countries, having bought majority stakes of three US game developers.

North America is the company's second largest market, which contributed to about 20 percent of the group's revenue in 2016.

According to Xiao, the company has shifted from relying on foreign agent companies for overseas marketing and sales channels to integrating global resources to develop games.

"We are seeking potential candidates, either established firms or startups, for investment or acquisition," he added.