Less cash from philanthropists seeking 'more effective' ways
By Richard Fu |
00:36 UTC+8 April 11, 2013
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Print Edition
Print Edition
DONATIONS from the China's philanthropists have fallen for the second year in a row, with the top 100 contributing US$890 million in the past 12 months, according to a list published by the Hurun Report.
That was a drop of 44 percent compared to last year and 53 percent lower than 2011, when natural disasters dominated the national agenda.
"Donations are down for the second year running, as Chinese entrepreneurs figure out ways to make their donations more effective," said Rupert Hoogewerf, chairman of the Hurun Report.
He added: "The leadership these individuals bring to China's nonprofit sector far outweighs the value of their donations."
Huang Rulun, chairman of Century Golden Resources, is the most generous philanthropist on Chinese mainland by donating US$92 million in the past year, reclaiming the title he won in 2004 when the Hurun Philanthropy List first began.
The 62-year-old is followed by property developer Yang Xiu, with US$63 million, and Xu Jiayin, chairman of Evergrande Real Estate, with US$62 million.
Hurun said philanthropy came in second after payment of taxes in a survey of Chinese luxury consumers that asked about the most important ways to give back to society.
Donations in the education sector were most prominent, especially university's marking anniversaries, according to Hurun. For example, Nanjing University's 111th anniversary was marked by the US$63 million donation from Yang.
Religious donations also factored, with three listed individuals donating toward the construction of Buddhist temples.
Huang and Cao Dewang, chairman of Fuyao Glass Industry Group Co and last year's No 1, are the only two people to have made the philanthropy list every year in the past decade.
Of the 100 philanthropists, 58 are on the Hurun Rich List 2012. Twenty-five of them rank high politically, with 13 delegates to the most recent National People's Congress and 12 to the Chinese People's Political Consultative Conference, Hurun said.
Half the top 10 are in real estate, down from eight last year. The average age of the 100 philanthropists is 53, the same as the average age on the Hurun Rich List 2012.
Chen Guangbiao, a billionaire businessman who bills himself as China's No. 1 philanthropist and rose to national prominence with a number of eye-catching donations over the past few years, didn't make the latest list.
The Hurun list ranks the 100 most generous Chinese mainlanders, measured by the value of their cash or cash equivalent donations between April 1, 2012 and March 31, 2013.
That was a drop of 44 percent compared to last year and 53 percent lower than 2011, when natural disasters dominated the national agenda.
"Donations are down for the second year running, as Chinese entrepreneurs figure out ways to make their donations more effective," said Rupert Hoogewerf, chairman of the Hurun Report.
He added: "The leadership these individuals bring to China's nonprofit sector far outweighs the value of their donations."
Huang Rulun, chairman of Century Golden Resources, is the most generous philanthropist on Chinese mainland by donating US$92 million in the past year, reclaiming the title he won in 2004 when the Hurun Philanthropy List first began.
The 62-year-old is followed by property developer Yang Xiu, with US$63 million, and Xu Jiayin, chairman of Evergrande Real Estate, with US$62 million.
Hurun said philanthropy came in second after payment of taxes in a survey of Chinese luxury consumers that asked about the most important ways to give back to society.
Donations in the education sector were most prominent, especially university's marking anniversaries, according to Hurun. For example, Nanjing University's 111th anniversary was marked by the US$63 million donation from Yang.
Religious donations also factored, with three listed individuals donating toward the construction of Buddhist temples.
Huang and Cao Dewang, chairman of Fuyao Glass Industry Group Co and last year's No 1, are the only two people to have made the philanthropy list every year in the past decade.
Of the 100 philanthropists, 58 are on the Hurun Rich List 2012. Twenty-five of them rank high politically, with 13 delegates to the most recent National People's Congress and 12 to the Chinese People's Political Consultative Conference, Hurun said.
Half the top 10 are in real estate, down from eight last year. The average age of the 100 philanthropists is 53, the same as the average age on the Hurun Rich List 2012.
Chen Guangbiao, a billionaire businessman who bills himself as China's No. 1 philanthropist and rose to national prominence with a number of eye-catching donations over the past few years, didn't make the latest list.
The Hurun list ranks the 100 most generous Chinese mainlanders, measured by the value of their cash or cash equivalent donations between April 1, 2012 and March 31, 2013.
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