News this week: China’s largest e-commerce company, Alibaba Group, has signed
a strategic agreement with Shanghai
Media Group (SMG) to serve China’s financial information services industry through
their Internet technology and media resources.
Under the agreement, Alibaba will invest RMB 1.2 billion
(US$194 million) into China Business News (CBN), a Chinese financial media
company under SMG, and launch a financial data and information service company.
The two companies will also jointly develop a comprehensive financial data and
information platform to provide users, especially small- and medium-sized
enterprises, with financial news and information. CBN’s wealth management
information product will launch on Mobile Taobao in the near future.
Alibaba Group founder and executive chairman, Jack Ma, said,
“The era of Data Technology is here and it will surpass the Information
Technology era. The DT era is about transparency, sharing of information and
enabling others. Alibaba is excited about the possibilities of the DT era and
how it can bring value to society.”
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