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Alibaba Group Holding Ltd will launch an online video streaming service in China in about two months, hoping to emulate the U.S.'s Netflix Inc and HBO, the firm's head of digital entertainment said on Sunday. The service will be called 'TBO', or Tmall Box Office, with content bought from China and other countries, as well as in-house productions, Alibaba's Patrick Liu told reporters in Shanghai.

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SHANGHAI (Reuters) – Fast-growing Chinese tech firm Xiaomi Technology Ltd Co booked 74.3 billion yuan ($11.97 billion) in pre-tax sales last year, up 135 percent from 2013, the firm's chief executive Lei Jun said on his official microblog account on Sunday.