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Alibaba will invest 100 billion yuan ($15.5 billion) by 2025 in support of the country's goal of common prosperity, becoming the latest corporate giant to pledge support for the initiative.
After investing 50 billion yuan ($7.7 billion) in sustainable social value innovation strategy, Chinese technology giant Tencent announced plans on Wednesday to invest another 50 billion yuan in further supporting people's livelihood.
On September 5th, Tencent launched Charity Day with the theme of common prosperity. The day marks one of the first of a batch of activities for its charity plan of 50 billion yuan launched in the month of August.
Alibaba Group recently announced "Ten Actions to Help Common Prosperity", in which the company will invest a total of 100 billion yuan before 2025 to help China reach Common Prosperity.
Chinese technology firm Tencent announced the launch of the first batch of its 50 billion yuan ($7.74 billion) 'Common Prosperity' plan in a letter sent today to company employees.