Perfect World lands $250m deal to finance movies by Universal

Major investment will also help US company expand into growing Chinese film market

Chinese movie and TV drama producer Perfect World Pictures Co Ltd has announced it will invest $250 million in US film conglomerate Universal Pictures, becoming one of the largest investments a Chinese company has made in a Hollywood studio.

Perfect World has reached an investment and strategic cooperation agreement with Universal Pictures to finance at least 50 Universal films over the next five years through its overseas subsidiary Perfect Universe Investment Inc, a statement issued by Perfect World Pictures said on Wednesday.