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China's 49 richest tycoons give away $14 billion to heed 'common prosperity' call

The founders of three of China’s technology giants each pledged over US$2 billion to charitable causes over the past year, in a collective response to the nation’s call for common prosperity that drove donations to a record, according to the Hurun China Philanthropy List 2022. The list recorded 49 benefactors who each gave away more than 100 million yuan (S$19...
Hong Kong Wang Xing Richard Liu Qiangdong Lei Jun Chan Tseng Hsi Rupert Hoogewerf

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Why Huawei founder Ren Zhengfei's new memo has gone viral on China's internet

A leaked internal memo by Ren Zhengfei, founder of Huawei Technologies Co., has gone viral on China’s social media, as his bleak outlook of the global economy strikes a chord in the country’s business and technology sectors. The memo, which was first reported by Chinese media outlet Yicai on Tuesday (Aug 23) painted a gloomy picture of a world heading...
Wang Xing Eric Xu Zhijun Lei Jun Ren Zhengfei Ma Huateng Tencent Holdings

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