WBrief: Chinese philanthropy falls 17% in 2011 - Spear's Magazine

WBrief: Chinese philanthropy falls 17% in 2011

Donations from China’s wealthiest philanthropists fell by 17 per cent last year to an average $16 million, as global economic uncertainty curbed even the most generous appetite for giving

Donations from China’s wealthiest philanthropists fell by 17 per cent last year to an average $16 million, as global economic uncertainty curbed even the most generous appetite for giving.

The list of the 100 biggest givers in China was compiled for the ninth year by the Hurun Report,  measuring individuals by the value of their cash or cash equivalent donations from 1 January 2011 to 31 March, 2012, according to the Hurun Philanthropy List 2012.

For the third year running windscreen maker Cao Dewang is China’s most generous philanthropist, donating $580 million last year, followed by Xu Jiayin with $120 million and Wang Jianlin with $44 million. 

The numbers may look high, especially in comparison to the UK’s most generous charitable gift of £76.5 million ($123.5 million) donated by artist David Hockney, according to the Sunday Times Philanthropy List. The UK’s average gift just topped 1 per cent of their personal wealth last year, for the first time, while the average donation for the top 100 in China was 1.3 per cent of their personal wealth.

To read the full story, visit wealthbriefing.com



 

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