Alibaba elaborates on how it will use its 100 billion yuan ‘common prosperity’ fund – pointing to ‘high quality growth’ for all

Chinese e-commerce giant Alibaba Group Holding’s pledge of 100 billion yuan (US$15.5 billion) to help narrow the country’s wealth gap is not just about giving away money – it is aimed at building programmes that can help to “make the cake bigger”, the head of Alibaba’s charity said.Aside from 20 billion yuan earmarked for Alibaba’s home province of Zhejiang, most of the remaining 80 billion yuan will be open for programmes that can leverage Alibaba’s advantages as a big platform, Simon Hu…

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