{"id":530759,"date":"2021-08-24T07:27:25","date_gmt":"2021-08-24T11:27:25","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\/"},"modified":"2021-08-24T07:27:25","modified_gmt":"2021-08-24T11:27:25","slug":"pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\/","title":{"rendered":"Pinduoduo launches new 10-billion-yuan initiative with profits to support agricultural modernization and rural vitalization"},"content":{"rendered":"<div class=\"mw_release\">\n<p>SHANGHAI, China, Aug.  24, 2021  (GLOBE NEWSWIRE) &#8212; Pinduoduo Inc. (PDD: NASDAQ), China\u2019s largest agricultural platform, today announced that it would launch a dedicated \u201c10 Billion Agriculture Initiative\u201d (henceforth \u201cInitiative\u201d) to face and address critical needs in the agricultural sector and rural areas.<\/p>\n<p>Profits from the second quarter and any potential profits in future quarters would be allocated to the Initiative. The Initiative would not be driven by profit or commercial goals, but strive to facilitate the advancement of agritech, promote digital inclusion, and provide agritech talents and workers with greater motivation and a sense of achievement.<\/p>\n<p>Although the \u201c10 Billion Agriculture Initiative\u201d will clearly impact the short-term earnings per share for shareholders, the Initiative has already received the support and approval of the Board of Directors, and will be personally overseen by Chairman and CEO Chen Lei. The company will subsequently convene a shareholders\u2019 meeting to seek the support of majority shareholders.<\/p>\n<p>\u201cThis is an important and challenging task, which we will invest in patiently,\u201d said Chen. \u201cAll profits from the second quarter and any potential profits in future quarters will first be allocated towards this initiative until the total 10 billion yuan commitment is fulfilled.\u201d<\/p>\n<p>Earlier this year, Pinduoduo was among three technology companies commended for their contributions to China\u2019s poverty alleviation efforts.<\/p>\n<p>Pinduoduo\u2019s agriculture-related initiatives include improving downstream market access for farmers and helping them to build brands, training younger talent to set up agri-businesses, and revamping midstream logistics infrastructure to reduce waste, lower costs and speed up the delivery of agricultural food products.<\/p>\n<p>The company also works with industry partners and universities to develop and implement upstream technology to increase agricultural productivity.<\/p>\n<p>To help farmers sell better, Pinduoduo is promoting high-quality produce from more than 400 growing regions as part of its annual harvest festival, including specialties from 100 of China\u2019s geographical indications.<\/p>\n<p>Pinduoduo kicked off its yearly Smart Agriculture Competition this month, inviting participants from around the world to take part in a precision farming contest. The aim is to attract more young talent to apply their skills in agriculture and develop technology that can help farmers boost productivity and income, as well as grow more nutritious food with less environmental impact.<\/p>\n<p><strong>About Pinduoduo Inc.<\/strong><\/p>\n<p>Pinduoduo is a mobile-only marketplace that connects millions of agricultural producers with consumers across China. Pinduoduo aims to bring more businesses and people into the digital economy so that local communities can benefit from the increased productivity and convenience through new market opportunities.<\/p>\n<p>For more information on Pinduoduo news and industry trends, please visit the content hub at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=6jbOmgraVBde6L6wsa9zHYx-eank0oVBbU6286j_IUTmOeK0dS8v8eLyT1QLvkF9YXPxX7ImtZtcDEViwF69FFI3b23FGvDnrKKnisreSRGoTmF89o1tlUyJM6nLQ2DQcuQAEH2CKuz9ZlgGiXOL1qZoucWsR5RckJ7PmaHqi01eHlY_CvwuSkTLqODD2Feha-h5_POFaWJJdIKJu0L1ozXH5-FIK4pewnND-f31tQXKpRiiYGAwrkv6r_lFwGJXLNUjxTzl0Aj1ofAn-G0yrxoewGdraD4PoM-xpgb4Z1cOGTvFbqovAtXvV95L58-l\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/stories.pinduoduo-global.com<\/a>.<\/p>\n<p \/>\n      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODMxNDE4OCM0MzcyNDA3IzIxMjI4MTA=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/ZGQ4NmY4NzktNGMzOC00ZWI0LTg5OTQtY2MxNTEzNTNhY2RiLTExMzQzODE=\/tiny\/Pinduoduo-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\">\n<pre>For media inquiries, please contact\u00a0internationalmedia@pinduoduo.com.<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>SHANGHAI, China, Aug. 24, 2021 (GLOBE NEWSWIRE) &#8212; Pinduoduo Inc. (PDD: NASDAQ), China\u2019s largest agricultural platform, today announced that it would launch a dedicated \u201c10 Billion Agriculture Initiative\u201d (henceforth \u201cInitiative\u201d) to face and address critical needs in the agricultural sector and rural areas. Profits from the second quarter and any potential profits in future quarters would be allocated to the Initiative. The Initiative would not be driven by profit or commercial goals, but strive to facilitate the advancement of agritech, promote digital inclusion, and provide agritech talents and workers with greater motivation and a sense of achievement. Although the \u201c10 Billion Agriculture Initiative\u201d will clearly impact the short-term earnings per share for shareholders, the Initiative has already received the support &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Pinduoduo launches new 10-billion-yuan initiative with profits to support agricultural modernization and rural vitalization&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-530759","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Pinduoduo launches new 10-billion-yuan initiative with profits to support agricultural modernization and rural vitalization - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pinduoduo launches new 10-billion-yuan initiative with profits to support agricultural modernization and rural vitalization - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SHANGHAI, China, Aug. 24, 2021 (GLOBE NEWSWIRE) &#8212; Pinduoduo Inc. (PDD: NASDAQ), China\u2019s largest agricultural platform, today announced that it would launch a dedicated \u201c10 Billion Agriculture Initiative\u201d (henceforth \u201cInitiative\u201d) to face and address critical needs in the agricultural sector and rural areas. Profits from the second quarter and any potential profits in future quarters would be allocated to the Initiative. The Initiative would not be driven by profit or commercial goals, but strive to facilitate the advancement of agritech, promote digital inclusion, and provide agritech talents and workers with greater motivation and a sense of achievement. Although the \u201c10 Billion Agriculture Initiative\u201d will clearly impact the short-term earnings per share for shareholders, the Initiative has already received the support &hellip; Continue reading &quot;Pinduoduo launches new 10-billion-yuan initiative with profits to support agricultural modernization and rural vitalization&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-24T11:27:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODMxNDE4OCM0MzcyNDA3IzIxMjI4MTA=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Pinduoduo launches new 10-billion-yuan initiative with profits to support agricultural modernization and rural vitalization\",\"datePublished\":\"2021-08-24T11:27:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\\\/\"},\"wordCount\":443,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODMxNDE4OCM0MzcyNDA3IzIxMjI4MTA=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\\\/\",\"name\":\"Pinduoduo launches new 10-billion-yuan initiative with profits to support agricultural modernization and rural vitalization - 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(PDD: NASDAQ), China\u2019s largest agricultural platform, today announced that it would launch a dedicated \u201c10 Billion Agriculture Initiative\u201d (henceforth \u201cInitiative\u201d) to face and address critical needs in the agricultural sector and rural areas. Profits from the second quarter and any potential profits in future quarters would be allocated to the Initiative. The Initiative would not be driven by profit or commercial goals, but strive to facilitate the advancement of agritech, promote digital inclusion, and provide agritech talents and workers with greater motivation and a sense of achievement. Although the \u201c10 Billion Agriculture Initiative\u201d will clearly impact the short-term earnings per share for shareholders, the Initiative has already received the support &hellip; Continue reading \"Pinduoduo launches new 10-billion-yuan initiative with profits to support agricultural modernization and rural vitalization\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\/","og_site_name":"Market Newsdesk","article_published_time":"2021-08-24T11:27:25+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODMxNDE4OCM0MzcyNDA3IzIxMjI4MTA=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Pinduoduo launches new 10-billion-yuan initiative with profits to support agricultural modernization and rural vitalization","datePublished":"2021-08-24T11:27:25+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\/"},"wordCount":443,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODMxNDE4OCM0MzcyNDA3IzIxMjI4MTA=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/pinduoduo-launches-new-10-billion-yuan-initiative-with-profits-to-support-agricultural-modernization-and-rural-vitalization\/","name":"Pinduoduo launches new 10-billion-yuan initiative with profits to support agricultural modernization and rural vitalization - 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