In China, Alibaba now lets you invest money in TV and movie projects
Mar26
Chinese Internet firms are getting more creative at targeting customers with new products — they have rolled out various investment funds and even virtual credit cards which the government put a stop to — and now e-commerce giant Alibaba is letting users invest in TV and movie projects. Alibaba announced today the launch of Yu Le Bao, which lets people invest as little as CNY100 ($16) to earn returns from popular TV and movie projects with expected annualized returns of seven percent. The first batch of projects is accepting pre-orders starting today — users can access the Yu Le Bao page via…
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