Alibaba invests in Hainan sports industry

On December 12th, the signing ceremony for the Strategic Cooperation Framework Agreement involving the People’s Government of Hainan Province and Alibaba Group was held in Haikou. According to this agreement, Alibaba will move the southern headquarters of Alibaba Cultural Recreation Group to Haikou Cultural Industry Garden to build a culture and entertainment ecology. Hainan Deputy Secretary and governor (Liu Xigui) and the Chairman of the Board of Alibaba (Jack Ma) attended the signing ceremony. Alibaba Group will regard Hainan as an important base in the future and bring in a great number of world-class sport events and activities, promoting the leap forward in the development of the sports industry in Hainan.

Alibaba has now completed the relevant procedures to forgee merging film and television industrial agglomerations. Alibaba will avail itself of its resources in film and television production to secure its film-making projects with large investments and make strategic plans for its 8 cultural and recreational forums: Youku, Alibaba Pictures, Alisports, Alimusic, Uc, Alibaba Games, Alibaba Literature and its Digital Entertainment Business Division. With its influence in the industry of artist management, it will build training schools for artists by setting up college and university cooperation platforms to encourage some artist-related business agencies to base themselves in Hainan, which has the potential to strengthen the influence of its cultural industry in China, Southeast Asia and even the world.

Proofread by Sean O Diobhilin