Alibaba pledges $15.5 billion for “common prosperity”

technode news feed 1 1 • Alibaba pledges $15.5 billion for “common prosperity” News Feed

Alibaba pledged on Thursday to invest RMB 100 billion ($15.5 billion) by 2025 to support “common prosperity,” joining a list of Chinese tech giants to help the government fight inequality. The e-commerce titan said the fund will be used in ten initiatives, including supporting small businesses, helping with agricultural industrialization, digitizing rural areas, and improving the lives of gig workers. [Reuters]

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