Chinese software provider Kingsoft has announced to invest CNY10 million to set up a game development joint venture with Alchemy, an online game developer in China.

With the CNY10 million investment, Kingsoft will have 40% of the shares of the JV, which will specialize in the development of computer games.

Owning 27 developers, Alchemy has developed a 3G engine called Alchemy Engine and several popular computer games including Mo Yu and Tian Long Ba Bu. Kingsoft probably made the investment in the game studio mainly because of its efficient development capacity.

Qiu Bojun, president and acting CEO of Kingsoft, believes that the new JV will help Kingsoft expand its online games.

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