Stocking up
Source: Xinhua |
May 6, 2011, Friday
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Print Edition
Print Edition
WITH a donation of 300 million shares from billionaire Cao Dewang's company, China's first charity foundation financed with stocks was set up yesterday.
The Heren Foundation, named after Cao's late father, is the largest charity body in China, with those shares fetching a market value of 3.55 billion yuan (US$538 million).
The foundation said the money will be used for education, health care and other projects to help the poor in impoverished regions.
The Heren Foundation, named after Cao's late father, is the largest charity body in China, with those shares fetching a market value of 3.55 billion yuan (US$538 million).
The foundation said the money will be used for education, health care and other projects to help the poor in impoverished regions.
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