Read this article from Today online published on 12 Sep 2021 where it wrote about how because of income gap, Xi Jinping tells tycoons to share wealth.

Mr Xi says the Communist Party will pursue “common prosperity,” pressing businesses and entrepreneurs to help narrow the stubborn wealth gap that could hold back the country’s rise and erode public confidence in the leadership. Read more at https://www.nytimes.com/2021/09/06/world/asia/china-xi-common-prosperity.html

We have also seen recently on Tencent and Pinduoduo donating tens of billion of dollars for social initiatives. Even CEOs themselves like Pinduoduo founder Colin Huang, smartphone maker Xiaomi’s cofounder Lei Jun and food-delivery giant Meituan’s founder Wang Xing have transferred blocks of their companies shares worth billions of dollars to philanthropic foundations to use the proceeds for education, poverty alleviation and scientific research. This "common prosperity" campaign has started a crackdown on the tech giants to prevent monopoly and...