TECH - Alibaba's Film Sector Boost: Experts Debate Hong Kong's Global Competitiveness | Benzinga
Alibaba Group Holding Ltd (NYSE:BABA) has embarked on an ambitious multibillion-dollar initiative to revitalize Hong Kong’s culture and film sectors, aiming to catapult local productions into the global arena once again.
Industry experts, however, express concerns about the city’s ability to compete on the world stage.
The Chinese e-commerce behemoth’s entertainment and media division has committed to investing at least HK$5 billion ($639.3 million) over the next five years, significantly boosting investor confidence in these industries, SCMP reports.
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