Alibaba makes big jump into financial news
By Gao Yuan | China Daily | Updated: 2015-06-05 07:39
Purchase of China Business Network seen as creation of Bloomberg equivalent
Alibaba Group appeared to be building the Chinese version of Bloomberg with a big investment in a business news outlet.
The e-commerce giant said on Thursday that it is spending 1.2 billion yuan ($193 million) on Shanghai-based financial media outlet China Business Network to provide financial news and data analysis services.
Photo
