Alibaba Puts The Internet Risks in China and Benefits For Government

While Alibaba gets accused of missteps and counterfeit goods, the company benefits China with major items.

Latest Alibaba news is regarding the trio of stories that have been taking rounds. In a very nice way, the Chinese e-commerce titan has summarized the risks and also the benefits that the current Internet juggernauts in China exist for the country’s government. Furthermore, it suggested that there should be a fine line expressed between taming the newly emerged giants while also making sure that their economic powerhouses have not been cut down. It took merely a decade and the world has seen Alibaba, Baidu and Tencent evolve from start-ups that were venture based into one of the most reputable and revenue generating fortune companies in the world.

The evolution of these companies and the stature has not only brought a positive global placement of China but also the essential tax dollars for the local governments and also the tech-related jobs that Beijing wishes to utilize in order to replace the manufacturing labour associated to lower-tech. However, at the very same time, these young and on-growing companies are bound to take vulnerable missteps, those missteps can result in a bit of chaos in the huge Chinese marketplace and the capital shall become careful regarding that.

Alibaba news reports that one conspiracy has been haunting the company since the beginning of the year when Chinese e-commerce titan had been accused of allowing piracy all over the subsidiary, Taobao.com which is immensely popular in the country. Taobao.com is an e-commerce platform which is C2C based. The accusation had been made by the regulators of the country and this has not stopped here. The company’s home province, Zhejiang has fined it for 800,000 Yuan due to the claim that it had let the merchants have access to its B2C marketplace which is Tmall.com just so it can demeanour promotions that are misleading.

In the meantime, Alibaba has suffered through this publicity that was ultimately negative, the benefits that the company has aimed to provide and has been providing to the country’s economy are residing in the other items. Zhejiang’s governor has expressed that Alibaba, alone provides more than 30 million Yuan per day to the provincial tax reserves.

The other item reported is claiming that Jack Ma, Alibaba’s founder has been the country’s biggest philanthropist by donating a whopping amount of 14.5 billion Yuan last year in charity.

Let’s not forget the counterfeit goods accusation that has been rumouring as well. Alibaba has been accused of having counterfeit goods on its e-commerce websites and has been under observation for it.

However, as far as the contribution of this company is concerned, lately with ‘Cloud Hospital’ and its immense interest and acquisitions in entertainment industry are enough proves that it is making its global and native presence felt almost everywhere.

Alibaba's Strategic Partnership With Shanghai International Film Festival

Alibaba becomes partner with SIFF in order to make a significant mark in the film industry. It has plans to revolutionize the industry and broadening the horizons of opportunities for people there.

The latest Alibaba news is about the strategic partnership between Shanghai International Film Festival and the e-commerce giant. This symbols the beginning of  the company’s bid of boosting its presence in the entertainment sector.

It is said that Alibaba has spent more than $3 billion in entertainment sector in the last year. The company that is wealthy enough, was finding the content and any acquisitions there might be in Hollywood, however, it still has to make major and prominent move there.

Founder of Alibaba and also the executive chairman, Jack Ma seems ambitious about being international and also being the major player. Jack described the company as “the biggest entertainment company in the world.”

According to the Alibaba news, the deal aims of integrating the platform perks of the e-commerce giant and also assisting the newcomers in the industry. Furthermore, the deal purposes to support connections with the film fanatics and also analyzing the forthcoming plans regarding the film industry. The launch took place at China Art Museum. The Dep. GM of Shanghai International Film Festival said:

"The Festival will become a unique international event that fuses together two strong advantages, possessing the DNA of the internet, providing the ultimate experience, exploring the future of the industry and gradually cultivating the industry’s new and powerful energy."

Yulebao which is Alibaba’s crowd funding-like service shall become an officially chosen partner for interactive entertainment of the festival. Taobao Dianying will be a platform for Shanghai International Film Festival’s ticketing processes.

Vice President of Alibaba thinks that this partnership is going to make use of the platform advantages that the company has provided. The company and the partnership shall facilitate the business with more potential to explore in the upcoming times.  There were many investors who invested into the fund when Yulebao was launched last year. 

According to Liu, $53 million had been raised using Yulebao and also it capitalized in 12 films that were the blockbusters of 2014. The box office of all these films, together, was $480 million. It is nearly 10% of Chinese cinema stats of year 2014. Yulebao has a plan to invest up to $240 million in the films this year.

This deal also marks the growing festival connection in China as Shanghai International Film Festival shall take place in June and its competitor, Beijing International Film Festival will be in April.  This partnership is predicted to look into Tmall Magic Box device which will enable the users to bring the SIFF to their living rooms.