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Alibaba is making money hand over fist but not in entertainment

T
op business and technology news for January 24, 2017. Part of the daily SupChina news roundup "Musicians are the first victims of China-South Korea tensions."
2 months ago
Jeremy Goldkorn

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  • Alibaba revenue up 54% to $7.67 billion, but entertainment losses deepen / Variety        
    Ecommerce giant Alibaba announced financial results for the quarter that ended December 31, 2016, showing a 54 percent increase in revenue, with the group total hitting $7.67 billion. But losses in the entertainment sector grew to $463 million, up from $156 million in the same period in 2015. In its press release, Alibaba said that consolidation of its media and entertainment businesses would “realize greater synergies within the segment,” but the company still has to prove that it can make a profit outside of the ecommerce and online financial services sectors that it dominates.
  • China’s growing ambitions in space / The Atlantic                                        
    China is “moving boldly ahead with its own space-exploration efforts,” and plans to conduct about 30 launches this year, up from 21 successful orbital-launch missions in 2016. A recent report from the China National Space Administration (CNSA) said that this year, CNSA will launch its first cargo spacecraft to resupply a space laboratory; in addition, it will land a rover on the far side of the Moon next year. A Mars rover is planned for 2020. NPR reports that China is planning a mission to bring lunar samples back to Earth late this year.

By Jeremy Goldkorn
Jeremy Goldkorn is co-founder of the Sinica Podcast and currently edits SupChina and our daily newsletter.
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