Alibaba pledges $20.8 billion to China’s ‘common prosperity’ drive

September 03, 2021 8:03 AM

SHANGHAI (REUTERS) – China’s Alibaba Group Holding will invest 100 billion yuan (S$20.8 billion) by 2025 in support of “common prosperity”, it said, becoming the latest corporate giant to pledge support for the initiative driven by President Xi Jinping.

Source : http://www.straitstimes.com/business/companies-markets/alibaba-pledges-208-billion-to-chinas-common-prosperity-drive