China: Baidu’s movie arm invests $303m in new film fund

Image of Baidu campus from Wikimedia.

Baidu Nuomi Pictures, the film arm of Chinese Internet search giant Baidu, will invest RMB 2 billion ($303 million) in a film fund, the company said on Thursday at the Shanghai International Film Festival.

“The fund will use scientific and professional investment method to back high quality film projects, and also help them become commercial successes,” said Baidu Nuomi Pictures general manager Xu Yongming.

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