<p>China's Alibaba Group will invest 100 billion yuan ($15.5 billion) by 2025 in support of "common prosperity", it said, becoming the latest corporate giant to pledge support for the initiative driven by President Xi Jinping.</p>.<p>Beijing has been encouraging companies to share wealth as part of the effort to ease inequality in the world's second-largest economy. Other companies that have made similar announcements include Tencent Holdings, which also pledged 100 billion yuan, and Geely Automobile.</p>.<p>The government-backed Zhejiang News website said Alibaba's funds will go towards areas such as subsidies for small and medium-sized enterprises and improving insurance protection for gig economy workers such as couriers and ride-hailing drivers.</p>.<p>It will also set up a 20 billion yuan "common prosperity development fund", the newspaper said, with Alibaba confirming the report.</p>.<p>The e-commerce giant and its tech rivals have been the target of a wide-ranging regulatory crackdown on issues ranging from monopolistic behaviour to consumer rights. Alibaba was fined a record $2.75 billion in April over monopoly violations.</p>.<p>The sector has also attracted criticism for the treatment of delivery workers and ride-hailing drivers, most of whom are not covered by basic social and medical insurance.</p>.<p>Food delivery platform Ele.me and supermarket operator Freshippo, both of which are owned by Alibaba, were among operators called to a meeting last month with government regulators on improving safety and labour rights for delivery workers.</p>
<p>China's Alibaba Group will invest 100 billion yuan ($15.5 billion) by 2025 in support of "common prosperity", it said, becoming the latest corporate giant to pledge support for the initiative driven by President Xi Jinping.</p>.<p>Beijing has been encouraging companies to share wealth as part of the effort to ease inequality in the world's second-largest economy. Other companies that have made similar announcements include Tencent Holdings, which also pledged 100 billion yuan, and Geely Automobile.</p>.<p>The government-backed Zhejiang News website said Alibaba's funds will go towards areas such as subsidies for small and medium-sized enterprises and improving insurance protection for gig economy workers such as couriers and ride-hailing drivers.</p>.<p>It will also set up a 20 billion yuan "common prosperity development fund", the newspaper said, with Alibaba confirming the report.</p>.<p>The e-commerce giant and its tech rivals have been the target of a wide-ranging regulatory crackdown on issues ranging from monopolistic behaviour to consumer rights. Alibaba was fined a record $2.75 billion in April over monopoly violations.</p>.<p>The sector has also attracted criticism for the treatment of delivery workers and ride-hailing drivers, most of whom are not covered by basic social and medical insurance.</p>.<p>Food delivery platform Ele.me and supermarket operator Freshippo, both of which are owned by Alibaba, were among operators called to a meeting last month with government regulators on improving safety and labour rights for delivery workers.</p>