CCTV Script 17/03/14

— This is the script of CNBC's news report for China's CCTV on March 17, Monday.

Welcome to the CNBC Business Daily.

Sorry Hong Kong, but we're going to the US instead!

Alibaba is headed to America.

The Chinese e-commerce giant has confirmed it's abandoning HK and looking to bring its much-anticipated IPO to the US instead.

While the company has not said how big its initial offering would be, analysts have forecast that the debut could raise $15 billion for the company, valuing it at $140 billion.

So why did Alibaba choose to list in the US instead of in Hong Kong? Here's what one guest we spoke to had to say:

[Soundbyte on tape by Deb Clarke, Global Head of Investment Research, Mercer] That's about governance, or the ability to feel that their share price is probably going to be more generously valued. I think Alibaba is understood in local markets, but yet to be fully understood in the global market.

Li Sixuan, reporting from CNBC's headquarters in Singapore.

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