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A man walks past the logo of Alibaba (China) technology Co., Lth on August 12, 2005 in Beijing, China.

Alibaba to Raise $1.5B Cultural, Entertainment Investment Fund

Charissa Echavez   | Nov 01, 2016 12:24 AM EDT

Alibaba Group Holding announced on Monday its plan to raise 10 billion yuan ($1.5 billion) to target China's cultural and entertainment industries and establish a separate cultural and entertainment group.

People look at the Kung Fu Panda 3 exhibition at a shopping mall on Dec. 19, 2015 in Kunming, Yunnan Province of China. Sculptures of cartoon roles and scenes of American-Chinese computer-animated film 'Kung Fu Panda 3' were on display at a shopping mall

China Invests in Animation Studios; Entertainment Industry Continues to Expand

Jenia Cane   | Mar 17, 2016 09:58 PM EDT

China's entertainment industry is now investing in animation studios , as the country's largest private firm Huayi Brothers Media Corp. prepares to launch an animation division soon.

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