SHANGHAI/BEIJING -- China's tech billionaires have suddenly been going out of their way to spread around their wealth. Giant sums have been lavished on altruistic endeavors in recent weeks. There's little coincidence that this surge follows President Xi Jinping's "common prosperity" campaign.
But behind most of the humanitarian activity is a fear of meddling state and public backlash, while there are growing concerns that this effort will sap the vitality out of the country's vibrant private sector.
