Alibaba earmarks 100 billion yuan towards China’s common prosperity goal, responding to call to narrow nation’s wealth gap

//Alibaba earmarks 100 billion yuan towards China’s common prosperity goal, responding to call to narrow nation’s wealth gap

Alibaba earmarks 100 billion yuan towards China’s common prosperity goal, responding to call to narrow nation’s wealth gap

Alibaba Group Holding, the world’s largest e-commerce platform, said it will set aside 100 billion yuan (US$15.5 billion) towards promoting “common prosperity” in China, making the biggest single corporate pledge in response to a government call to narrow the nation’s wealth gap. The allocation will be disbursed before 2025 to promote investments in technology, support small businesses, foster development in rural areas, help small business expand overseas and improve the welfare among gig…

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By | 2021-09-02T10:08:57+00:00 September 2nd, 2021|Business|Comments Off on Alibaba earmarks 100 billion yuan towards China’s common prosperity goal, responding to call to narrow nation’s wealth gap