Tycoons lead way on info

Big data is a relatively new phenomenon in China, but it is already making a big impression, attracting some of the biggest names in Chinese business circles.

Jack Ma, the founder and chief executive of Alibaba Group, which owns China's biggest e-commerce platform Alibaba.com, is banking on big data for further business expansion and growth. Alibaba has invested a large amount of money on big data initiatives, including recently buying a further 20.62 percent stake in Heng Sheng Electronics Technologies Co Ltd for a contract value of 3.3 billion yuan ($530 million).

As a result of that deal Jack Ma has become the largest shareholder in Heng Sheng Electronics, his cumulative stake in the company now standing at 99.1 percent.