Chinese online game company ZQgame will cooperate with Shanda to form a joint venture in the Shanghai Pilot Free Trade Zone.

The new joint venture will have registered capital of CNY1 million, with each party investing CNY500,000.

ZQgame said the aim of establishing this joint venture is to use the advantages of the Free Trade Zone to actively distribute their businesses in the Internet and gaming sectors.

The company also revealed that after the press conference, they will launch a new client-based online game developed by ZQgame.

ZQgame was founded as a subsidiary by Powerleader Science & Technology Company. In 2011, ZQGame's first U.S. branch opened in Silicon Valley. At present, the company has over 1,800 employees and 20 studios.