Feeling Economic Bite, China's Top 100 Donors Gave 38% Less Last Year, Ranking Shows
Zhang Yushuo
DATE:  Jan 16 2020
/ SOURCE:  yicai
Feeling Economic Bite, China's Top 100 Donors Gave 38% Less Last Year, Ranking Shows Feeling Economic Bite, China's Top 100 Donors Gave 38% Less Last Year, Ranking Shows

(Yicai Global) Jan. 16 -- Charitable giving by China's top 100 donors fell 38 percent last year, according to a list jointly released by the China Philanthropy Research Institute of Beijing Normal University and the China Global Philanthropy Institute yesterday that concluded the record-low donation amount in recent years reflects to a degree the economic situation and operating pressures impacting Chinese companies.

Chen Bang, the founder and chairman of Aier Eye Hospital Group, topped the list by donating 100 million company shares [SHE:300015], which closed 4.02 percent up at CNY42.73 (USD6.21) at noon today. Country Garden Holdings Chairman Yang Guoqiang and China Evergrande Group Chairman Xu Jiayin ranked second and third, respectively, with CNY1.81 billion (USD263 million) and CNY1.75 billion shelled out.

The minimum amount bestowed in last year's list was CNY10.04 million (USD1.46 million), said Fu Changbo, assistant director of China Global Philanthropy Institute. Some 59 entrants made the running for the first time, while 41 have featured several times. Wang Jianlin, chairman of Dalian Wanda Group, Xu Jiayin and Yang Guoqiang have all appeared for nine years in a row.

Guangdong province ranked first, with 38 givers placing on the ranking, holding onto the top spot for number of locals on the list for the ninth straight year, per the report. It also came in first in donation amounts at about CNY6.8 billion.

Ten women made the list under their own names, while 10 others donated in the name of a family or married couple.

The real estate sector was the top source of donor wealth, followed by the health, finance, manufacturing and internet sectors. The areas of education and poverty alleviation were the main recipients of these funds.

The China's Top 100 Donors List 2019 is its ninth annual issue. Those featuring on it are residents of the Chinese mainland, mostly controllers of private domestic companies.

Editor: Ben Armour

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Keywords:   donor,real estate