Tencent earmarks US$7.7 billion for ‘common prosperity’ to answer Xi Jinping’s call for equality

//Tencent earmarks US$7.7 billion for ‘common prosperity’ to answer Xi Jinping’s call for equality

Tencent earmarks US$7.7 billion for ‘common prosperity’ to answer Xi Jinping’s call for equality

Shenzhen-based tech giant Tencent Holdings said on Wednesday that it has created a 50 billion yuan (US$7.7 billion) fund dedicated to “common prosperity”, one day after Chinese President Xi Jinping made it a key economic and social goal for the country.The fund will be used to boost the income of low-income groups, improve health care coverage, help rural economic development, and support grass roots education, Tencent said in a midnight statement hours after its second-quarter earnings call…

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By | 2021-08-19T03:04:38+00:00 August 19th, 2021|Technology|Comments Off on Tencent earmarks US$7.7 billion for ‘common prosperity’ to answer Xi Jinping’s call for equality