Consumer Staples, Financials Author: EqualOcean News, Yiru Qian Jan 11, 2022 07:25 PM (GMT+8)

The move is another attempt to help the state achieve the desired goal of 'common prosperity.'

Alipay

On January 11, Ant Group's Alipay announced that it will host a special marketing campaign to help China's farmers during the entire Spring Festival period. It is expected to bring about 200 million impressions to their agricultural products. 

Relying on BABA Farm (芭芭农场) and online events, Ant Group cooperated with several provincial governments in 2021, including the Rural Revitalization Bureau of Henan Province, the Department of Agriculture and Rural Affairs of Hebei Province and Rural Revitalization Bureau of Sichuan Province. These interactions helped sell a total of 3,835 tonnes of agricultural products, generating CNY 45.71 million. All the proceeds from the sales directly went to the farmers, with no fees charged by the platform.

With the help of the traffic from Alipay and other Alibaba-affiliated brands, along with the company's digital tools, more agricultural products could receive higher brand exposure, pulling up the relevant income. 

As early as September 2, 2021, Alibaba Group (09988:HK) voiced that it will invest CNY 100 billion by 2025 in support of 'common prosperity,' making it the latest Internet giant to pledge support for the state-driven initiative.