Toutiao, which means "headline" in Chinese, one of the country's most popular smartphone news applications, announced in Beijing on Sept 20 that it will allocate 1 billion yuan ($150 million) within the next 12 months to subsidy creators of online short videos with high quality.

The app, a major information sharing platform, marched toward online video industry in 2015. Its videos, among which most are provided by individual users, now has 1 billion clicks every day, making it the country's largest broadcast platform of short videos.

Nevertheless, Zhang Yiming, CEO of Toutiao, said that quality of these videos needs to be improved, and the new project is to encourage good products online.

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