Tencent CEO Pony Ma has stipulated the Chinese tech giant’s new mission statement and vision statement through WeChat yesterday in four words: tech for social good.
Tencent‘s vision has always been to become a respectable enterprise, but has never officially stipulated a mission statement for the company until the latter half of 2018 when it underwent a strategic structural reform. Ma has claimed then the company’s mission was to “bring quality life with digital innovation”.
Yesterday, however, Ma has officially unified both Tencent’s mission and vision statements in one fell swoop through a WeChat status update that could be roughly translated to, “tech for social good”.
“Tech for good” is a notion rooted in Chinese philosophies and the idea of good is coming from individuals, rather than enforced by governments.
Corporate Social Responsibility (CSR) is a practice included in China’s corporate law in 2006. This set in motion a group of industry leaders, mainly state-owned enterprises to issue their first CSR reports and facilitated the integration and brand-building of Chinese companies on the global market.
Tencent has connected people and non-profit organizations through the Internet, and has been actively using technology to bring social good. The company started China’s first open large-scale online donation activity through WeChat, allowing users to directly donate money to designated public welfare organizations through mobile phone payment.
Up to now, the 9.9 Public Welfare Project (Held on Sept. 9 each year, hence the name) has raised nearly 2.1 billion yuan (~$309 million), with over 49.51 million people participating. To date, the 9.9 Public Welfare Project has supported the development of over 7,300 welfare organizations.
“The Internet has penetrated every part of our lives and brought about new opportunities and the digital transformation of traditional companies,” said Ma to Caijing. “I hope that the commercial value generated throughout this process will not only promote the growth of enterprises, but also help seniors and minority communities solve various pain points and give back to the society.”
Featured photo credit to TMTPost