Bilibili, an online entertainment platform for young generations in China, agreed to invest $66m in Huanxi Media, a company principally engaged in media- and entertainment-related businesses, including development of and investment in films and TV drama series, as well as operation of a streaming platform. "This strategic partnership will bring significant benefits to both companies. We will integrate our resources to provide our audiences with an increasing number of high-quality content," Steven Xiang, Huanxi Media CEO.