Technology

Alibaba Pledges $15.5 Billion to ‘Common Prosperity’ Drive

Alibaba Pledges $15.5 Billion to ‘Common Prosperity’ Drive

Alibaba Group Holding Ltd. pledged 100 billion yuan ($15.5 billion) over five years toward Xi Jinping’s “common prosperity” vision, becoming the latest tech giant to bankroll China’s broad aim to share the wealth. China’s second-largest company will spread the money between 10 initiatives encompassing technology investment and support for small companies.

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