Tencent Chairman and CEO Ma Huateng.
Chinese Internet technology giant Tencent has announced that it will spend 50 billion yuan to promote “sustainable social value innovation,” and this is “just the beginning of the investment. According to some critics, Tencent’s main founder Ma Huateng may want to spend money to buy peace as Alibaba founder Jack Ma is “getting into the mud step by step.
On Monday (19), Tencent Holdings announced that the company will invest an initial 50 billion yuan in its “sustainable social value innovation” strategy, and will set up a business unit to “explore” basic science, education innovation, rural revitalization, carbon neutrality, FEW (food, energy and water), public emergency response, elderly technology and digital public welfare. The company will “start exploring” in areas such as basic science, education innovation, rural revitalization, carbon neutrality, FEW (food, energy and water), public emergency, senior technology and digitalization of public welfare.
“The more a company grows, the deeper and more stable the foundation of social value creation needs to be. 50 billion yuan is just the beginning of the investment.” Ma Huateng, the current chairman of Tencent’s board of directors and chief executive officer, made an incendiary statement, declaring that Tencent would “continue to respond to the needs of the country and the times, and live and prosper with the evolving society.
According to Ma, Tencent will set up a “Goodwill Lab Group” to first “incubate” projects in the fields of technology innovation, education innovation, rural development and carbon neutrality internally, and then spin off the projects when they are mature and set up a studio to operate them.
In response to Tencent’s above move, a writer named “Zilong” published a commentary on an overseas Chinese website, saying that a week after the Chinese Communist Party issued a huge $18.2 billion fine to Alibaba, Ma Huateng, a businessman, became “enlightened” and had to spend a huge amount of money to buy a living for his own safety. For his own security, he had to spend a huge amount of money to buy a living, contributing $50 billion to “set up a moral pagoda for Tencent”.
According to the article, Tencent’s core profit business is games, and the company is “trying to squeeze every penny out of its users” and even implanting gambling mechanisms such as “open boxes” into its games in order to make money, and such a company is now claiming that it wants to take social responsibility. “It is as ridiculous as bandits advocating humane robbery.
The article questioned whether Tencent’s $50 billion “social value innovation” would be a realistic performance of a fundraising scam. So much so that “in the end, Ma Huateng and the rich and powerful laughed and shared the people’s money, Ma Huateng did not have to really spend the money, even if the money was given to the rich and powerful, he could also earn a good reputation.
The article concludes that Ma Huateng may have wanted to spend money to buy peace, but as a top prolific person, he is afraid that “he can avoid the first day of the month but not the fifteenth”.
Xi Jinping, general secretary of the Communist Party of China, hosted a forum for entrepreneurs on July 21 last year. In this forum, he mentioned the Communist China virus (COVID-19) epidemic and repeatedly emphasized the “six stability” and “six protection”, asking entrepreneurs to “enhance patriotic feelings… … to take the initiative to play for the country and share the worries of the country”. At that time, the outside world interpreted that the Chinese Communist Party was facing serious financial difficulties, so the real purpose of asking entrepreneurs to be “patriotic” was to ask enterprises to contribute money to the Communist Party.
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