Alibaba pledges $15.5 billion to help China achieve 'common prosperity'
CNN
Alibaba is pouring 100 billion yuan ($15.5 billion) into China's drive to achieve "common prosperity," marking the latest big pledge from a Chinese company to support President Xi Jinping's campaign.
The tech giant announced Friday that it would invest the staggering sum by 2025 with an eye on five priorities: innovation in technology, economic development, the creation of "high-quality employment," supporting vulnerable communities, and setting up a special development fund. The company also laid out 10 specific goals it plans to tackle, from increasing technological investment in the country's less developed regions to improving the welfare of gig economy workers to working to speed up the growth of small businesses and agriculture.
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