Perfect World emphasizes IP

Perfect World, a leading Chinese movie and gaming company, will step up efforts to promote the integration of games, films, television dramas and comics, as intellectual property becomes a valuable safeguard for all cultural products.

Xiao Hong, CEO of the Beijing-based company, said "We will build a pan-entertainment ecosystem to bring together global cultural resources, in a move to meet consumers' fast-growing needs for entertainment and communication."

His comments came as intellectual property becomes the latest buzzword in the culture industry. Literature, animation, music and video games have emerged as powerful sources of inspiration for films in China and around the world.

"The capital is flooding in to buy intellectual properties, which push up the price of popular online novels or games. But as consumers increasingly desire good content, it is still of great value to nurture good intellectual properties," Xiao said.

According to him, the company has a France-based team working on a PC game based on China’s classic novel Journey to the West. The game is expected to be unveiled next year.

"International cooperation is entering into a new stage where it is not just exports or imports. Instead, it is an integration of global resources. We hope to combine global talents and take each country's good parts to build a world-class product,"Xiao said.

The company is also setting foot in the vocational education sector, in the hope of nurturing more talents for the movie and gaming industries.

When it comes to new technologies such as virtual reality, Xiao said it will take five years for VR to be efficiently applied in cultural products, so that they can deliver quality experiences at affordable prices.

The Beijing-based online game operator completed its initial public offering on Nasdaq in 2007. However, it delisted from the US stock market after finishing privatization in 2015.

Perfect World Pictures Co Ltd, a movie and TV drama producer listed at Shenzhen Stock Exchange, successfully incorporated Perfect World in April 2016.