HANGZHOU, China--(BUSINESS WIRE)--Alibaba Group Holding Limited (NYSE: BABA) announced today it has signed a strategic agreement with Shanghai Media Group (“SMG”) to leverage both companies’ Internet technology and media resources in order to penetrate China’s financial information services industry. As part of the strategic agreement, Alibaba Group intends to invest RMB1.2 billion ($193.6 million) into China Business News (CBN), a leading Chinese financial media company under SMG, to create a
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