E-commerce behemoth Alibaba Group Holding Limited is investing nearly USD194 million into a Chinese financial news media
6 June 2015, 06:11
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Alibaba Group signed a strategic agreement with Shanghai Media Group to
leverage both companies' Internet technology and media resources to
penetrate China's financial information services industry. Alibaba Group
intends to invest CNY1.2 billion into China Business News, a Chinese
financial media subsidiary of SMG, to create a financial data and
information services company.
By utilizing Alibaba Group's big data and cloud computing capabilities, both companies will jointly develop a comprehensive financial data and information platform that will provide users with timely financial news and information in order to enhance their investment and financial decision-making capabilities.
The aim of this combined CBN and Alibaba platform is to raise the bar on enterprise efficiency in China by leveling the information playing field. By giving a greater number of Chinese enterprises access to precious financial data that can be easily mined and analyzed for actionable investment and business decisions, this platform is expected to help these enterprises scale and expand their businesses.
By utilizing Alibaba Group's big data and cloud computing capabilities, both companies will jointly develop a comprehensive financial data and information platform that will provide users with timely financial news and information in order to enhance their investment and financial decision-making capabilities.
The aim of this combined CBN and Alibaba platform is to raise the bar on enterprise efficiency in China by leveling the information playing field. By giving a greater number of Chinese enterprises access to precious financial data that can be easily mined and analyzed for actionable investment and business decisions, this platform is expected to help these enterprises scale and expand their businesses.
