Alibaba invests $8m in Hainan tourism zone

Alibaba Group Holding Ltd, China's e-commerce giant, signed an agreement with the Hainan provincial government on Thursday to invest 5 billion yuan ($816 million) in the Hainan International Tourism Island Pilot Zone.

The programs will cover the information and creative industries and create the first smart city in China that will integrate cloud computing, the administrative committee of the pilot zone said.

Alibaba will locate its headquarters for its digital entertainment and game divisions in the pilot zone. A college will be established in the zone to train e-commerce talents.

liuxiaoli@chinadaily.com.cn