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China’s Alibaba To Invest $640M In Hong Kong Content Industry; Signs Strategic Partnership With Media Asia
The "Hong Kong Revitalisation Program" is a joint initiative of the Chinese tech giant and several major Hong Kong production companies.
The plan, called the “Hong Kong Cultural and Art Industry Revitalisation Program,” is a joint initiative of Alibaba and leading Hong Kong production companies including Edko Films, Mandarin Motion Pictures, Media Asia, Universe Entertainment, One Cool Group, Shaw Brothers and Emperor Motion Pictures. Later in the day, Alibaba announced a strategic partnership with Media Asia to “promote the development of young artists, endorse the economic and cultural prosperity of the Guangdong-Hong Kong-Macau Greater Bay Area, nurture a new generation of stars, promote talent development, and inject new vitality and creativity into the cultural and entertainment sectors.” The partnership involves a joint venture for new directors, which is co-financing projects including mystery thriller Behind The Scene, directed by David Lee Kwong Yiu and produced by Andrew Lau; Born Evil Seed, directed by Nick Cheuk ( Time Still Turns The Pages); and The Other One from Fung Chih Chiang ( The Other One).
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