China Kinwa recently announced its controlling subsidiary Shanghai CoRun Venture Capital Co., Ltd will invest CNY75 million to join the establishment of Hangzhou Internet Venture Capital Co., Ltd with Hangzhou Hi-tech Venture Capital Co., Ltd and Hangzhou Hi-tech Venture Capital Management Co., Ltd. They will jointly set up an internet industry incubation base specialized in funding the Hangzhou-based Internet enterprises, so as to create a Chinese Internet industry base through the support to start-ups in the Internet industry.