Published: September 6th, 2021,
Last updated: September 6th, 2021
In China, big companies are outdoing each other with big donations right now. Alibaba set the bar with the equivalent of 13 billion euros – two-thirds of its last annual profit. Our team in Beijing has been investigating whether the money is really benefiting „general prosperity,“ as state and party head Xi Jinping has recently pressed for. Perhaps the philanthropic generosity also serves as an effective strategy to dampen the party leadership’s ire toward billionaires and large corporations?