Alibaba pledges $15.5 billion to help China achieve 'common prosperity'

Hong Kong (CNN Business) Alibaba is pouring 100 billion yuan ($15.5 billion) into China’s drive to achieve “common prosperity,” marking the latest big pledge from a Chinese company to support President Xi Jinping’s campaign. The tech giant announced Friday that it would invest the staggering sum by 2025 with an eye on five priorities: innovation in technology, economic development, the creation of “high-quality employment,” supporting vulnerable communities, and setting up a special development fund. The company also laid out 10 specific goals it plans to tackle, from increasing technological investment in the country’s less developed regions to improving the welfare…