Alibaba Pledges $640M to Boost Hong Kong's Entertainment Sector

The investment aims to revitalize the city's creative industries, with Alibaba Pictures establishing a second headquarters in Hong Kong.

Alibaba is investing $640M into Hong Kong's creative industries, aiming to revitalize the local content industry.
The investment will support film production, TV series, talent development, and more, in collaboration with major Hong Kong production companies.
Alibaba Pictures will make Hong Kong its second headquarters, emphasizing the city's unique blend of eastern aesthetics and international perspective.
The initiative includes funding scholarships for filmmakers and backing for a range of TV and film projects.
The move is seen as a significant boost to Hong Kong's entertainment industry, still recovering from the pandemic's impact.