Alibaba is investing 200 million dollars in Shanghai Media Group, a business news network. CCTV America’s Michelle Makori spoke Mi Jiayi to take a closer look at the deal.
Chinese e-commerce giant invests in Shanghai Media GroupAlibaba is investing 200 million dollars in Shanghai Media Group, a business news network.CCTV's Mi Jiayi takes a closer look at the deal.
- Alibaba and China Business Network have held a deal signing ceremony for their new cooperation, which will combine CBN’s media resources and Alibaba’s technology to provide digital financial information services. Alibaba founder Jack Ma says he hopes the company will eventually compete with international business information providers like Bloomberg and Reuters.
- Alibaba has been investing heavily in the cultural and media industries in China recently. Its film unit, Alibaba Pictures, said that it hopes to raise $1.6 billion in Hong Kong to help finance future media-related acquisitions.
Josef Schuster on Alibaba’s present and future
For more on Jack Ma’s speech and Alibaba, CCTV America’s Michelle Makori spoke to Josef Schuster, founder of financial services firm IPOX Schuster LLC.