Alibaba denies rumors it contributed cash to U.S. election campaign

Chinese Internet giant the Alibaba Holding Group denied on Monday that the company made financial contributions to candidates in the recently-concluded U.S. presidential election, after rumors spread that several Chinese financial institutions and even a Chinese movie star donated tens of millions of dollars to U.S. political causes.

In addition to Alibaba, China Minsheng Bank, the Fosun Group, One Foundation and Foxconn are all rumored to have donated money. Zhao Wei, a movie star, was the individual Chinese donor which contributed the most to the presidential race, according to online rumors which did not explain to which candidate the actress or the firms allegedly gave money.

Alibaba said in a statement sent to the Global Times 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," Alibaba statement argued.

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