China's Alibaba Pictures Group has announced that it plans to produce 17 movies and two TV shows in the coming years to establish its position in the country's film industry.
Among the movies expected to be produced by Alibaba are Storming 30 years, Zhengtu, and No Other Love, while TV programs are Ge Jin Tao Hua and The Legend of Zu 2.
According to Yahoo Movies, the plan to produce the movies and TV shows represents a massive step for the company.
The announcement comes after Alibaba Pictures revealed that Legend of the Ancient Sword, which is based on an original series, will be directed by Die Hard 2 director Renny Harlin, Deadline reported.
Alibaba Pictures has also unveiled a list of new collaborations aimed at transforming its "online dominance" into a "creative ecosystem" for the partnership's survival. Alibaba Pictures has allocated capital and has created its own Internet-based promotion and distribution system as well as an investment and financing system that will spur the company's content development and production.
"As a company committed to creating an integrated platform for the entertainment industry value chain, Alibaba Pictures hopes to become the platform which links up various resources and runs on the basis of Internet techniques and models, to increase efficiency and reduce risks in the research and production of movies," Zhang Qiang, Alibaba Pictures CEO, told Deadline.
Other movies included in Alibaba's lineup are Qi Huan Zhi Lv, Three Lives Three Worlds Ten Miles of Peach Blossom, and Asura. Meanwhile, the company will release Peach Blossom, Ferryman, and Ao Jiao Yu Pian Jian next year.