Chinese internet giant Alibaba denies funding US election campaign

Chinese internet giant Alibaba Holding Group has denied reports that the company made financial contributions to the candidates in the recently-concluded US Presidential elections after rumors spread that several Chinese financial institutions and even a Chinese movie star donated tens of millions of dollars to US political causes.

In addition to Alibaba, China Minsheng Bank, the Fosun Group, One Foundation and Foxconn are all rumored to have donated money, reports the Global Times.

Alibaba said in a statement on Monday that the rumors originally spread on WeChat - a Chinese instant messaging app developed by its competitor Tencent Holdings - and added that the public should help identify the original source of these kinds of rumors, which have already affected many companies and individuals.

WeChat helps rumors circulate to some extent, which then eventually become "uncontrollable," said Alibaba.

"And we all have to help WeChat identify the origins of rumors," the company said.