Shanda, one of the leading Internet companies in China, announced today that it had obtained a license for establishing businesses in China (Shanghai) Pilot Free Trade Zone. The company will bring almost all the existing businesses there and is planning to establish a joint bank.

Shanda International Trade (not official translation) will be the body to operate businesses including online games, literature, video and animation. The film and animation production business will be added later.

According to Robert Chiu, president of Shanda, the company in the free trade zone will establish Internet financial services, saying there are three areas Shanda can tap into that include a joint bank, real estate investment trust fund and investment institution.

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com