Thursday, September 2, 2021

Following Tencent, Alibaba pledges ~$15.5B over five years towards China's "common prosperity" vision, spreading the money across 10 initiatives (Coco Liu/Bloomberg)

Coco Liu / Bloomberg:
Following Tencent, Alibaba pledges ~$15.5B over five years towards China's “common prosperity” vision, spreading the money across 10 initiatives  —  - E-commerce giant to devote 100 billion yuan to societal good  — Alibaba joins tech giants in backing Xi Jinping's key priority



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Chinese video game giant NetEase reports Q4 revenue up 3% YoY to ~$4B and net profit down 29% to ~$903M, below ~$1.2B est., as it pushes self-developed games (Sherry Qin/Wall Street Journal)

Sherry Qin / Wall Street Journal : Chinese video game giant NetEase reports Q4 revenue up 3% YoY to ~$4B and net profit down 29% to ~$903...