(MENAFN - Investor Brand Network) Chinese e-commerce giant
Alibaba Group Holding Ltd. (NYSE: BABA)
is set to
sponsor the upcoming Lunar Year Spring Festival Gala
as it steps up efforts to woo budget-conscious consumers. With Alibaba looking to boost its growth rate in a struggling economy filled with competing firms, sponsoring one of the world's most-watched broadcasts is sure to do some good. Hundreds of millions of viewers watch the Spring Festival Gala every Lunar New Year's Eve, making it the
most-watched event in China .

According to the deal the Hangzhou-based firm signed with...

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