The move was announced on the first day of FilMart, the annual rights market for the Asian industries, at an event attended by Fan Luyuan, chairman and CEO of Alibaba’s digital media and entertainment unit, and Kevin Yeung, the Hong Kong government’s secretary for culture, sports and tourism. Alibaba’s Hong Kong Cultural and Art Industry Revitalization Program “will focus on film production and distribution, rights acquisitions, TV series production, investments in concerts, collaboration with performance venues and talent development, etc.