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China's Perfect World sees $100 mln overseas revenue

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China's Perfect World sees $100 mln overseas revenue

SHANGHAI | Wed Jul 28, 2010 1:24am EDT

SHANGHAI July 28 (Reuters) - Chinese online games company Perfect World (PWRD.O) expects $100 million in overseas revenue this year, its chief executive said on Wednesday.

The online game company, which counts the United States as one of its main export markets, develops and operates popular role playing games such as "Legend of Martial Arts."

"This year we see overseas revenue reaching $100 million," Perfect World chief executive Michael Chi, told a conference, citing increased overseas investments.

In March this year, Perfect World said it would cquire Japanese game operator C&C Media for about $21 million.

China's online games market shrank in the second quarter for the first time in more than a year, shedding 1.8 percent on the prior quarter to 7.34 billion yuan ($1.08 billion) said data from iResearch.

China is the world's largest Internet market with over 420 million web surfers. However, its red-hot online games segment has faced strong headwinds this year on a lack of new titles and an increasingly competitive environment. ($1=6.778 YUAN) (Reporting by Melanie Lee; Editing by Jonathan Hopfner)

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