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January 25, 2010

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Philanthropist prepares annual tour of the west

THE most generous philanthropist on China's mainland sets off today for western China to distribute more than 40 million yuan (US$5.86 million) in red envelopes to needy families.

Chen Guangbiao, chairman of the Jiangsu Huangpu Renewable Resources Utilization Co Ltd, is well known for donating 1 billion yuan over the past 10 years

He started his annual tour handing out cash to the poor prior to the Chinese New Year in 2008.

This year another 126 entrepreneurs will join him on his trip to Xinjiang Uygur Autonomous Region, Tibet Autonomous Region and Yunnan, Guizhou and Sichuan provinces to celebrate the Year of the Tiger with local families, China National Radio reported yesterday.

A total of 43.16 million yuan, including 33 million yuan in cash, was jointly donated by 513 entrepreneurs and others nationwide, according to the report.

Chen told the radio station that giving cash to needy people was common among entrepreneurs nowadays because China doesn't have a sound framework for effective giving or a transparent and accountable service yet.

"Transparency is the most dominant challenge for philanthropy on the mainland at the moment," said Zheng Yuanchang, an official in the social security and philanthropy department of the Ministry of Civil Affairs.

Meanwhile, legislators in Jiangsu Province have passed the first act on the mainland to promote philanthropy.

It states that charitable organizations should be transparent and accountable with regards to donations and expenditures.




 

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