Chinese B2B e-commerce group Alibaba has announced plans to launch a CNY3 billion housing loan scheme for its employees and a CNY500 million education fund to solve the preschool and primary education problems of children of its employees.
Meanwhile, considering the pressure brought by Chinese commodity price increases and fast inflation rise, the group will give over CNY40 million in one-time subsidiaries to its junior staff.
Peng Lei, chief human resources officer of Alibaba Group, told local media that over the past 12 years, Alibaba's most valuable resources have been its clients and employees. While creating value for customers, many employees have started bearing more family and social pressure with the fast rise in prices in China. Alibaba Group therefore aims to provide a better life to its employee and their families.
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