China Business Weekly is reporting that the Chinese-language website myrice.com, is aiming to become China's top entertainment portal after a new injection of money and resources from US and Japanese Internet-related service providers.

"We are striving to build it into a Chinese-language entertainment portal, and we are targeting people between 18 and 35," Kin Yong, the company's managing director, said during a news conference. The website will not limit its business to traditional Internet-related services, as it did previously, Yong said. Instead, the site will offer cross-platform services – both Internet-based and wireless telecoms services, such as MMS (multimedia messaging service), IVR (interactive voice response) and JAVA/BREW games.

The website was founded in Shanghai in 1999, after it had acquired 16 of China's top 20 personal websites. Its business expanded rapidly, especially after it was acquired by Lycos, a world-leading Internet business group, with a huge investment. It was operated under the name Lycos China. However, the website gradually faded from sight, as it failed to cater to the latest trends in Internet services; in particular, the convergence of wireless and Internet services.