Alibaba's investment to help promote common prosperity–China Economic Net

Chinese tech heavyweight Alibaba Group Holding Ltd announced on Thursday it will invest 100 billion yuan ($15.5 billion) by 2025 in a bid to help promote common prosperity in China. Alibaba’s investment will go toward supporting technological innovation, economic development and high-quality employment, as well as assisting vulnerable groups and setting up a 20 billion yuan common prosperity development fund. The company said it will increase investment in science and technology, support less-developed areas, micro, small and medium-sized enterprises, and agriculture, as well as provide diversified vocational training, improve insurance protection for flexible workers such as couriers and ride-hailing drivers,…