China´s rich donate relatively little to good causes, but when they do, they prefer to use their own platforms, not third parties, to do so. They try to avoid charities like the Red Cross, says Rupert Hoogewerf, chairman of the Hurun institute to VOA, and look for more creative ways to donate.
A recent report by the wealth researcher, Hurun Center, shows that 34 percent of the wealthy donors in the Chinese mainland made their contributions through their own foundations.
“In the past, the wealthy gave to the Red Cross or government-approved charities. Now, they are looking for creative ways to make a real social impact. Like encouraging the use of new technology for conservation and environmental protection,” Rupert Hoogewerf, Hurun Report chairman, said.
“Heads of companies like Alibaba and Tencent are trying to leverage their online platforms to expand philanthropic work.” For example, there are 700 million people, mostly shoppers, connected to Alibaba’s online platform, he said.
The Shanghai-based Hurun Report found that 51 Chinese donated more than $80 million each in 2015. Four super rich, Li Ka-shing from Hong Kong, Jack Ma of Alibaba, Pony Ma of Tencent and Facebook’s Priscilla Chan from the U.S. contributed $1.5 billion each. Some like Jack Ma contributed shares to their foundations, and others like Pony Ma established fund-raising platforms.
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