China-based auto marketplace has earmarked RMB800 million ($110 million U.S.) to support “high-quality content” next year, reports DoNews.

Dongchedi is owned by ByteDance, which is best known for social network TikTok.

Ma Yijiao, head of creator operations at Dongchedi, announced the plan — RMB500 million in content incentives and RMB300 million for monetization support — at a recent awards ceremony in Beijing.

“Creators are facing multiple pressures, such as the lack of a creative environment, and users’ demand for good content is far from being met,” he was quoted by China Financial Online as saying.

“In the future, Dongchedi’s exclusive studio will connect with high-quality content creators around the world to continue co-create content around major dimensions — such as automotive safety, purchase, interest and technology — and become the world’s best automotive content collection place.”

By traffic, leads the online auto ads market in China. It saw 31.1 million visits in May, putting it ahead of (28.5 million), according to Similarweb data.

ByteDance is reportedly preparing Dongchedi for an IPO and in talks to raise between $700 million to $800 million in new investment for the marketplace prior to taking it public.

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