China’s national women’s football team will receive a generous 1 billion yuan (HK$1.3 billion) donation thanks to Alipay, Alibaba’s co-founder Jack Ma and executive vice chairman Joseph Tsai.
On Friday, Alipay, the online payments company owned by Alibaba, announced that it would make a financial commitment to support China’s women’s football over the next 10 years. Jack and Joseph’s foundations would also be contributing to the cause.
“We want to work with China women’s soccer and be their strongest advocate,” Eric Jing, CEO of Alipay, said in a press release. “Through new ideas, our technology, funds and resources, we hope to better support the development of China’s women’s soccer.” According to the company, this is the biggest donation made to women’s soccer in China in history.