Xinhua News reported that China’s largest internet e-commerce titan, Alibaba, has set up a fund called the Alibaba Foundation.

The initial fund of 50 million yuan is dedicated to the development and support of China’s environmental protection organizations. Additionally a portion of the funds will be directed at natural disaster relief, as well as to the poor and disabled. Most of the funds will mainly come from donations from Alibaba’s group of companies.

“The establishment of the foundation is aimed at creating a good environment for public welfareand arousing awareness among the company’s employees and the public over environmentalprotection,” said Jin Yuanying, secretary general of the foundation.

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Jason Lim

Jason is an Australian born Chinese living in Beijing, specializing in entrepreneurship, start-ups and the investment eco-system in China, especially in the tech and social area.