Country now comes before profit for tech giants in Xi’s China


A file photo of Chinese online group discounter Pinduoduo’s logo next to its mobile phone app.The company said it will donate all of its first net profit since going public to support the country’s farmers and agricultural areas. — Reuters

China’s biggest companies are starting to make a habit out of giving away their earnings.

In the latest example, Pinduoduo Inc, an e-commerce company known for giving big discounts to customers when they buy produce together, said it will donate all of its first net profit since going public to support the country’s farmers and agricultural areas. The company will keep giving away earnings at least until the donations reach 10bil yuan (RM6.50bil).

Get 30% off with our ads free Premium Plan!

Monthly Plan

RM13.90/month
RM9.73 only

Billed as RM9.73 for the 1st month then RM13.90 thereafters.

Annual Plan

RM12.33/month
RM8.63/month

Billed as RM103.60 for the 1st year then RM148 thereafters.

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Tech News

Polish e-commerce Allegro's unit sues Alphabet for $568 million
Elon Musk's X lifts price for premium-plus tier to pay creators
US crypto industry eyes possible day-one Trump executive orders
Britannica didn’t just survive. It’s an AI company now
'Who's next?': Misinformation and online threats after US CEO slaying
What is (or was) 'perks culture’?
South Korean team develops ‘Iron Man’ robot that helps paraplegics walk
TikTok's rise from fun app to US security concern
Musk, president? Trump says 'not happening'
Jeff Bezos says most people should take more risks. Here’s the science that proves he’s right

Others Also Read