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Caring Company: Alibaba to Help Employees Deal with Rising Inflation.

BritCham / CBBC
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E-commerce giant Alibaba is helping its employees deal with rising social and economic pressure by offering various funds and loans.

From 1st September 2011, Alibaba will launch iHome, a 3 billion Yuan scheme offering interest- free housing loans to its employees. Those working at the company for two years can apply for a loan of up to CNY 200, 000, and those serving the company for at least three years can apply for up to CNY 300,000. The loans will help employees buy their first apartment in a location near their working area. The group is also setting up an education fund and investing 500 million Yuan, which will be used to help tackle preschool and primary education problems of the children of its employees via the construction of education facilities and in ventures with educational organizations.

An Alibaba spokesperson told media that the scheme aims to assist its employees have a better life; helping them to deal with increasing family and economic pressure caused by China’s fast rising commodity prices.

Source:Chinatechnews.com

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