Alibaba Group Holding plans to launch an online video streaming service in China in about two months, the firm's head of digital entertainment said on Sunday. The service will be called 'TBO', or Tmall Box Office, with content bought from China and other countries, as well as in-house productions, Alibaba's Patrick Liu told reporters in Shanghai.

Last year, Alibaba bought a 16.5 percent stake in Youku Tudou, one of China's biggest video streaming platforms.

Netflix itself is also considering an entry into China.