Alibaba's investment to help promote common prosperity
3 years, 3 months ago

Alibaba's investment to help promote common prosperity

China Daily  

The headquarters of e-commerce giant Alibaba Group is in Hangzhou, capital of East China's Zhejiang province. Chinese tech heavyweight Alibaba Group Holding Ltd announced on Thursday it will invest 100 billion yuan 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 continuously work on improving social well-being and promoting common prosperity, contribute more to the country's wealth redistribution. "Internet companies have taken the lead in cloud computing and should empower various industries across the nation, including healthcare, education and agriculture through its advanced digital technologies," said Wang Qiang, an associate professor from the business school at Renmin University of China, adding they should also play a vital role in developing a new type of consumption, as well as promoting high-quality development and common prosperity.

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History of this topic

China holds Central Economic Work Conference to make plans for 2025
1 week, 5 days ago

China holds Central Economic Work Conference to make plans for 2025

China Daily  

BEIJING -- The annual Central Economic Work Conference was held in Beijing from Wednesday to Thursday as Chinese leaders decided priorities for the economic work in 2025. In his speech, Xi reviewed the country's economic work in 2024, analyzed the current economic situation and arranged next year's economic work. It was noted at the meeting that the Chinese economy has …

Country vows to create more opportunities for investors
8 months, 3 weeks ago

Country vows to create more opportunities for investors

China Daily  

Vice-President Han Zheng made a speech at the Invest in China Summit 2024 in Beijing on Tuesday. Speaking on Tuesday at the Invest in China Summit 2024 in Beijing, Vice-President Han Zheng said that China will continue to explore and unleash market demand, injecting new vitality into the global economy and creating more new business opportunities for foreign companies. Ling …

Foreign firms still keen to ramp up investment
10 months, 2 weeks ago

Foreign firms still keen to ramp up investment

China Daily  

Multinational corporations will continue to ramp up investment in China this year as the country's immense consumption potential and innovation capabilities have bolstered their confidence, market observers and business leaders said on Jan 30. Zhang Wei, vice-president of the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said that foreign investors are increasingly valuing China's modern industrial infrastructure, innovative …

Foreign firms still keen to ramp up investment
10 months, 3 weeks ago

Foreign firms still keen to ramp up investment

China Daily  

Multinational corporations will continue to ramp up investment in China this year as the country's immense consumption potential and innovation capabilities have bolstered their confidence, market observers and business leaders said on Tuesday. Zhang Wei, vice-president of the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said that foreign investors are increasingly valuing China's modern industrial infrastructure, innovative ecosystem …

Foreign firms still keen to ramp up investment
10 months, 3 weeks ago

Foreign firms still keen to ramp up investment

China Daily  

Multinational corporations will continue to ramp up investment in China this year as the country's immense consumption potential and innovation capabilities have bolstered their confidence, market observers and business leaders said on Tuesday. Zhang Wei, vice-president of the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said that foreign investors are increasingly valuing China's modern industrial infrastructure, innovative ecosystem …

Foreign firms still keen to ramp up investment
10 months, 3 weeks ago

Foreign firms still keen to ramp up investment

China Daily  

A view of Shanghai's Pudong New Area. Multinational corporations will continue to ramp up investment in China this year as the country's immense consumption potential and innovation capabilities have bolstered their confidence, market observers and business leaders said on Tuesday. Zhang Wei, vice-president of the Beijing-based Chinese Academy of International Trade and Economic Cooperation, said that foreign investors are increasingly …

China’s Xi presents development plans for Central Asia
1 year, 7 months ago

China’s Xi presents development plans for Central Asia

Al Jazeera  

Xi Jinping meets leaders of five Central Asian nations at a summit in China, calls for trade and energy development. “That’s a message that he reiterated to the other Central Asian leaders, a message of the friendship of cooperation of China being a reliable partner for the region,” Washington said. “To bolster our cooperation and Central Asian development, China will …

China, Europe closely tied in economy for brighter future
1 year, 8 months ago

China, Europe closely tied in economy for brighter future

China Daily  

Photo taken on July 26, 2022 shows the booth of cosmetics giant L'Oreal in the French pavilion at the second China International Consumer Products Expo in Haikou, South China's Hainan province. "For most companies, withdrawing from the Chinese market is not an issue at the moment," said a recent study by the German Association of Materials Management, Purchasing and Logistics, …

China's economy gaining momentum, top regulator says
1 year, 8 months ago

China's economy gaining momentum, top regulator says

China Daily  

A view of Beijing's CBD area on Aug 19, 2022. China's economy is stabilizing and gaining momentum amid a steady recovery this year, and the country has the confidence and capabilities to foster high-quality development, according to the country's top economic regulator. He said the country will also make a big push to boost the spending power, actively expand effective …

Exploring Xi Jinping’s concept of common prosperity
2 years, 8 months ago

Exploring Xi Jinping’s concept of common prosperity

Hindustan Times  

Common prosperity conveys China’s role as a development partner helping narrow the gap between developed and developing countries. Xi Jinping’s economic strategies have evolved from a phase emphasising “supply side structural reforms”, first announced in 2015, followed by a “dual circulation” strategy, adopted formally in May 2020, and now the pursuit of common prosperity since August this year. The commentary …

How will China change in 10 years under Xi Jinping’s common prosperity push?
2 years, 11 months ago

How will China change in 10 years under Xi Jinping’s common prosperity push?

Live Mint  

It’s been a year of overwhelming change for China, and the fundamental shift in the relationship among the country’s government, businesses and citizens is a long way from complete. Ren said he and those around him are paying more attention to philanthropy and making donations, as common prosperity urges members of society to “embrace each other.” Reintroducing common prosperity is …

Authorities aim to narrow the nation's wealth gap
3 years, 1 month ago

Authorities aim to narrow the nation's wealth gap

China Daily  

Experts say income distribution system not about 'robbing the rich to aid poor' Central authorities endeavoring to narrow China's wealth gap and promote common prosperity are looking at the fast-expanding charitable sector as one of the routes to make a breakthrough in the "third distribution" of social wealth. In March, the term made its way into the country's 14th Five-Year …

Xi Jinping warns ‘common prosperity’ push will be ‘long term’
3 years, 2 months ago

Xi Jinping warns ‘common prosperity’ push will be ‘long term’

The Hindu  

China’s President Xi Jinping has warned that his government’s current push for “common prosperity”, which is likely to see a major overhaul of many sectors of the Chinese economy in coming months, will be “long term”. On Friday, the Party’s official journal, Qiushi or Seeking Truth, published for the first time Mr. Xi’s full speech at the August meet, which …

China is purging celebrities and tech billionaires. But the problem is bigger than ‘sissy men’
3 years, 3 months ago

China is purging celebrities and tech billionaires. But the problem is bigger than ‘sissy men’

LA Times  

Celebrity names are vanishing from the credits of TV shows. State-affiliated researcher Jiang Yu said in a recent interview with the party’s anti-corruption commission that the “irrational expansion of capital” had corrupted China through the “much-hated” realms of celebrity fan culture, tech monopolies and private tutoring, which gives wealthier and middle-class students an unfair edge. Movie stars Zhou Dongyu and …

CPC sets path to common prosperity
3 years, 3 months ago

CPC sets path to common prosperity

China Daily  

By XU WEI | China Daily | Updated: Sep 6, 2021 Agenda may usher in tax reforms, greater public spending, experts say China's top leadership has set in motion an agenda for the nation to attain common prosperity, a move analysts said could usher in broader reform in the nation's tax system, heavier fiscal spending on public well-being and further …

CPC sets path to common prosperity
3 years, 3 months ago

CPC sets path to common prosperity

China Daily  

Agenda may usher in tax reforms, greater public spending, experts say China's top leadership has set in motion an agenda for the nation to attain common prosperity, a move analysts said could usher in broader reform in the nation's tax system, heavier fiscal spending on public well-being and further expansion of middle-income groups. More tangible progress toward common prosperity is …

Alibaba invests $15.5 billion to help China achieve ‘common prosperity’
3 years, 3 months ago

Alibaba invests $15.5 billion to help China achieve ‘common prosperity’

CNN  

Hong Kong CNN Business — Alibaba is pouring 100 billion yuan into China’s drive to achieve “common prosperity,” marking the latest big pledge from a Chinese company to support President Xi Jinping’s campaign. It said last Tuesday that it would donate $372 million to the development of China’s agricultural sector and rural areas, with plans to give away 10 billion …

China wealth redistribution: Pinduoduo tech firm gives its entire profit to rural development
3 years, 3 months ago

China wealth redistribution: Pinduoduo tech firm gives its entire profit to rural development

CNN  

Hong Kong CNN Business — One of China’s biggest tech firms has pledged to hand over its entire profit for the last quarter to rural development projects in the country as Beijing steps up the pressure for wealth redistribution. E-commerce firm Pinduoduo on Tuesday pledged to donate the $372 million it made in the three months through June 30 toward …

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