Perfect World Co., Ltd., a Chinese online game developer and operator, announced today that it has entered into a definitive agreement to sell Beijing Huanxiang Zongheng Chinese Literature Website Co., Ltd, or PW Literature (, the entity that operates Perfect World’s Chinese online reading business, to Baidu for a total consideration of approximately RMB191.5 million($32 mn).

PW Literature, launched in 2008, is an online literature platform where readers subscribe to works by freelance writers. It is widely recognized in China that the business model was created by, now a Shanda Cloudary company. Perfect World expected it, apart from being an online literature business, to contribute stories for game development or rights sales.

Online reading has become a must-have business for big Chinese Internet companies, as there’s a large digi-reading user base and online literature is a proven profitable business. Tencent acquired the core team of from Cloudary in early this year and launched a similar one called Chuangshi.

Prior to this acquisition, Baidu came up with an e-publishing platform and a digital content trading platform earlier this year.

Tracey Xiang is Beijing, China-based tech writer. Reach her at

Join the Conversation


Leave a comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.