Jack Ma Foundation donates 14.4 mln USD for coronavirus vaccine development

Jack Ma waves to bid farewell at a function to mark the 20th anniversary of Alibaba Group in Hangzhou, capital of east China's Zhejiang Province, Sept. 10, 2019. (Photo: Xinhua/Jin Liangkuai)

The Jack Ma Foundation has announced it will donate 100 million yuan (14.4 million U.S. dollars) to support the research and development of a novel coronavirus vaccine.

"We firmly know that while scientists are racing against the clock, it won't be an easy task from the vaccine research to the final large-scale production and use," said Jack Ma, founder of Alibaba Group and the Jack Ma Foundation.

Ma said the foundation will strive to provide more help for the development and accumulation of medical science in the fight against viruses.

Alibaba Group said it would provide public research institutions free access to all AI capabilities needed for the development of vaccines and new drugs for the novel coronavirus.

The group has set up a 1-billion-yuan special fund for medical supplies as well as a health guarantee of up to 500,000 yuan for medical workers who are on the frontline fighting the epidemic nationwide.