Pikachu is surrounded by children during a Pokemon festival in Tokyo, on July 18, 2016. (KOJI SASAHARA / ASSOCIATED PRESS)

SHANGHAI - The Pokémon Company has registered a wholly-owned subsidiary in Shanghai as the Japanese company seeks to explore the Chinese market.

The subsidiary has a registered capital of 120 million Japanese yen

The subsidiary has a registered capital of 120 million Japanese yen (about US$1.13 million), according to the market regulation department in Changning District. Its business scope includes toys, anime, and entertainment products.

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Many Chinese Pokémon fans were excited about the possibility of the company launching its first Pokémon Center, a site for Pokémon shopping, on the Chinese mainland.

Just like the Pokémon Company, many foreign enterprises now seek opportunities in the Chinese market. Shanghai received US$10.28 billion in foreign investment in the first half of 2020, up by 5.4 percent year on year, according to the Shanghai Municipal Commission of Commerce.

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Last week, 54 foreign investment projects with a total investment of over US$8 billion were signed in the city, the commission said.