Starting from Wednesday, Hong Kong's leading English language newspaper, South China Morning Post, will be free to read.

The newspaper has brought down its paywall to let readers have full access to their web and mobile editions. The move comes as e-commerce giant Alibaba completes acquisition of the media.

According to SCMP.com, removing the paywall will come at a cost, but reports that Jack Ma Yun, the executive chairman of Alibaba Group, believes making content available for free is an essential part of adapting to the ever-changing media landscape.

Ma is quoted as saying paywalls restrict the number of people who visit a website, limiting the opportunities for expansion, and that survival lies in bringing in a new audience.

SCMP Group's media businesses include the local editions of Harpers Bazaar, Esquire, Elle, Cosmopolitan and two Chinese-language websites.

The remainder of the SCMP Group, focuses largely on property investment, will be renamed Armada Holdings.