Alibaba agrees deal for 'Mission Impossible 5'

Chinese actress Zhang Jingchu has a key role in "Mission: Impossible - Rogue Nation."

Chinese online retailer Alibaba has reached an agreement to back the production of Tom Cruise action film "Mission: Impossible - Rogue Nation," a first for the company's movie arm.

In exchange for the investment, Alibaba Pictures becomes an official partner for the action movie's Chinese release, working with Paramount Pictures on promotion, merchandise, and ticketing.

The deal represents the first of Alibaba's Hollywood ventures, having discussed the possibilities with Paramount in Fall 2014.

Chinese star Zhang Jingchu ("Aftershock") was announced as a leading actress in October 2014 for the late July and early August 2015 release.