Tencent Launches 50 Billion Yuan ‘Common Prosperity’ Plan

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. According to an official article, the letter has been sent to all Tencent employees in an email headlined ’99 Giving Day,’ signed as ‘Pony, Martin and the President’s Assistant Office’.

Tencent said in the letter:

A company will lose the motivation of continuous development if there is no reasonable proportion between its development and contribution to society.

After investing 50 billion yuan to launch the strategy of ‘Sustainable Social Value Innovation’ in April, Tencent added another 50 billion yuan to launch the ‘Common Prosperity’ plan on August 18. The first batch of this fund will land from the ’99 Giving Day’ this year.

Therefore, the ’99 Giving Day’ will also see overall upgrades this year. In addition to the extension from three days to 10 days, it has also been optimized and upgraded in many aspects such as donation mechanism, product system, enterprise relationship and public welfare infrastructure, with the total incentive amount increased to 1 billion yuan.

With this year’s ’99 Giving Day’, the company deeply participated in the whole business, and launched theme day activities related to public welfare issues such as common prosperity, minor protection, education assistance, life assistance, Silver Tech and carbon neutrality;

During the newly upgraded internal-oriented ‘Little Red Flower Public Welfare Week’, about 100,000 employees gather by themselves to volunteer and pass their kindness to others.

As a part of the company’s ‘Common Prosperity’ plan, the company and its employees sent out 10,000 ‘Hometown Packages’ to bring warmth and hope to the needy families in their hometown.

Many employees born in the countryside volunteer to form a ‘cloud resident team’ to contribute to the revitalization of their hometown, which made us see their common love for home and country and their enthusiastic response to the mission of the times.

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Tencent wrote in the letter, ‘At present, China has historically solved the problem of absolute poverty, and common prosperity is becoming a mission in the new era. This year, we have experienced a lot together. We witnessed the achievement of poverty alleviation, the unity in fighting the epidemic, and great work done by our astronauts. We will spare no effort to do every small and meaningful good thing.’

’99 Giving Day’ is an annual public welfare activity jointly launched by Tencent Public Welfare and charitable organizations, users, enterprises and media in 2015, under the guidance of the Cyberspace Administration of China and the Ministry of Civil Affairs, and in response to the call of ‘China Charity Day’ on September 5.