Recognition for 1 Trillion Yuan Agricultural Product Sales at China's 'Poverty Alleviation Achievement Commendation Conference'
Support for Advanced Companies like Didi Chuxing, China Mobile, and Shanghai Fuxing Analyzed
[Asia Economy Beijing=Special Correspondent Jo Young-shin] Alibaba Group, known to have fallen out of favor with the Chinese leadership following the indefinite postponement of Ant Group's IPO, received an award recognizing its contributions to poverty alleviation. Alibaba is the company founded by Ma Yun and has Ant Group, where Ma Yun is the largest shareholder, under its umbrella.
According to the state-run Global Times on the 26th, more than 500 Chinese technology and innovation giants, including Alibaba, were awarded at the "Poverty Alleviation Summary Commendation Conference" held the previous day with President Xi Jinping in attendance.
The Global Times explained that Alibaba, a leading Chinese online company, was recognized for increasing sales of agricultural products from impoverished areas. The media reported that through Alibaba’s internet and mobile platforms, agricultural product sales totaling 1 trillion yuan (approximately 172.61 trillion KRW) have been generated over the past eight years.
Regarding this award, Alibaba stated, "As a result of applying smart farms using the Internet of Things and big data in impoverished rural areas, sales in these regions have significantly increased," adding, "Farmers also understand advanced technology."
Real estate company Dalian Wanda Group, which revitalized tourism in poverty-stricken areas, also received an award. The Global Times reported that Wanda Group transformed Danzhai County in Guizhou Province, one of China’s poorest regions, into a tourist village, attracting a total of 19 million tourists over the past three years. This enabled more than 58,800 local residents to escape poverty.
The Global Times noted that companies related to the internet, education, agriculture, energy (electricity), and aviation received awards this time, stating that the Chinese government regards these companies as innovative and advanced enterprises and is paying close attention to them.
In fact, CEOs of companies with advanced technologies such as Didi Chuxing, known as the Chinese Uber, China Eastern Airlines, China Mobile, and Shanghai Fosun Group received awards, which is interpreted as a sign that the Chinese government intends to continue supporting technology companies.
Meanwhile, the Poverty Alleviation Summary Commendation Conference is interpreted as a preparatory step by the Chinese government ahead of the official declaration of a Xiaokang society (a moderately prosperous society where all people enjoy a comfortable life).
In his speech, President Xi said, "98.99 million rural residents have escaped poverty, and 832 impoverished counties and 1.28 million villages have been lifted out of poverty," adding, "The poverty alleviation campaign has contributed to the comprehensive achievement of a Xiaokang society."
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