China's Internet giant Alibaba Group Holding Ltd. has purchased The South China Morning Post (SCMP). SCMP is Hong Kong's biggest and most influential English language newspaper. The purpose of the decision is to uphold broad perceptions of China's global economic power growth.

The media in China is largely controlled by the government. Many see Alibaba's move as a step towards reforming the media in the country. The company intends to change the "negative" portrayal of China in the Western media.

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South China Morning Post is an award-winning daily newspaper that for a long time has assertively covered stories such as human-right cases and political scandals that are banned to be reported in China. Alibaba said that the deal was not influenced by the Chinese government, and its main aim is to alter the country's image.

During an interview, Alibaba's executive vice chairman Joseph C. Tsai said that the company's business is rooted in China, and it touches numerous aspects of the Chinese economy. He explained that when people don't really understand and have wrong views of China, they also have much misconception of Alibaba. Tsai added that what's good for China is good for the company too.

The Internet company earns more than $12 billion in annual profit. The deal with SCMP is worth $100 million; and Alibaba is not concerned with the financial stakes involved. The risk is more emphasized on its reputation. When Alibaba takes control of The South China Morning Post, it will run a news organization that separates two systems. One is in Hong Kong that practices free press and the other is in mainland China that has restrictions.

Tsai said in a letter to the newspaper's readers that the SCMP would continue to be "objective, accurate and fair", and would have "the courage to go against conventional wisdom".

TagsMEDIA, newspaper, Hong Kong, The South China Morning Post