Domestic News

Jack Ma, partners donate 560m yuan

ALIBABA founder Jack Ma and his business partners have donated 560 million yuan (US$82 million) to a hospital in East China’s Zhejiang Province.
Of the money, 300 million yuan is from the Jack Ma Foundation, 100 million from Alibaba Group, 110 million from the group’s 17 founders and partners, and 50 million yuan from Yunfeng Capital, a private equity firm co-founded by Jack Ma and Target Media founder David Yu.
The money was donated to The First Affiliated Hospital of Zhejiang University on Friday, and will be used for training, research and development (R&D).
Wang Weilin, president of the hospital, said the money will help improve the hospital’s services.
Zhejiang University and Alibaba Group previously signed a strategic cooperation agreement on frontier technology, such as artificial intelligence, medical health, big data and social sciences.?(Xinhua)