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Chinese Tech Giant Tencent to Pour an Additional 50 Billion Yuan into the “Get-Rich-Together Plan”

Following the launch of the “Sustainable Social Value Innovation” strategy with an investment of 50 billion yuan (US$7.5 billion) (in April), Chinese tech giant Tencent announced on August 18 that it would increase its capital by another 50 billion yuan to launch the “Common Prosperity Special Plan” (or “Get-Rich-Together Plan”). The funds will be used to provide continuous assistance in areas such as rural revitalization, increases in income  for low-income groups, improvements in the primary health care system, and balanced development of education.

The 10th Conference of the Central Finance Committee, held on August 17, made it clear that common prosperity should be promoted in stages, allowing some people to get rich first. Then the riches should help the poor to get rich.

Source: Techweb, August 19, 2021