Tencent pledged on Wednesday to invest RMB 50 billion ($7.7 billion) for a “common prosperity fund” to “give back to the society” and help China fight social problems such as inequality, according to Tencent’s statement. The social media and gaming giant said the current fund will improve low-wage groups’ income, expand healthcare and education in less developed areas, and revitalize rural areas. The investment brings the company’s recent contribution to public welfare programs up to RMB 100 billion. In April, Tencent invested RMB 50 billion in “sustainable societal innovation” projects. [Tencent, in Chinese]

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