Alibaba in pact to groom film talent

ALIBABA Pictures Group said after Tuesday trading hours it has entered into an agreement to cooperate with two other parties to build an innovative platform to groom young talent at a film academy.

The tripartite agreement was signed with Shanghai Theatre Academy (STA) and Fosun Group.

Each of the three parties will contribute resources to the innovative platform of the film academy under STA.

Alibaba said the cooperation will further its strategy to focus on young talents in support of its manpower needs for the expansion in film and television sector.