Quartz: Bloomberg has such a lockdown on the lucrative financial data market that some clients are desperate to wean themselves off of its terminals. While few American companies have brought a formidable competitor to market, China’s largest e-commerce company might. Alibaba has announced a $193.6 million investment in China Business Network, a subsidiary of the media conglomerate Shanghai Media Group, which owns TV, radio, print, and online properties. The deal is the first step toward Alibaba creating a serious challenger to Bloomberg in financial and economic data, according to one person briefed on the deal — a challenger the Chinese government has been seeking for years.