Update 2: Jan 5: NYT confirms the amount Google invested is $5 million. The company previously had $20 million in venture backing from Morningside Ventures and IDG VC Partners.
Update 1: Jan 4, 207: Google has confirmed it as well, and China Daily reported Thursday that Google is joining up with Shanghai-based VC firm Ceyuan Ventures to buy a stake in Xunlei. The deal will formally be announced tomorrow at a local press conference.
Original Post: Dec 29, 2006:  After some rumors about Google interested in buying a Chinese video sharing site, comes the news that it will invest in Shenzhen Xunlei Network Technology, which operated a local video sharing site Xunlei. Not much else was disclosed, though the company confirmed it..it will be announced officially next month.
Existing investors in Xunlei include IDG Venture Capital and Morningside Asia Advisory, and the site also has partnership agreements with Motorola, Sina and Shanda.