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China's entrepreneurs giving more to
charity
They are digging deep into their pockets, with the 15 most generous donating
$155 million (Sng) to non-profit groups last year
BEIJING - China's Sars epidemic
last year paid off in at least one way: it jolted many Chinese entrepreneurs to
the value of charity.
The 15 most generous donors gave away more than US$91
million (S$154.7 million), amounting to about 40 per cent of the sum of S$382
million that Singaporeans donated to non-profit organisations in 2002.
Most of the Chinese collections went into health care
and the building of Sars hospitals in rural provinces, but there was also non-Sars
funding, including for education and the arts.
Following the publication of an array of rich lists in
the past five years, a new ranking, this one on philanthropy, will be released
today that chronicles the generosity of 52 Chinese entrepreneurs.
At the top is Mr Huang Rulun, 53, board chairman at
Jinyuan real estate, who gave more than US$25 million to higher education and
health care last year.
During Sars, he donated 14 million yuan (S$2.9
million) to the authorities in Beijing, where his company is based.
'After 20 years of opening up and developing the
economy, Chinese people are thinking of building businesses that can last
another 100 years,' said Mr Rupert Hoogewerf, a chartered accountant in Shanghai
who created the philanthropy list for Euromoney publishing group.
'If they want to stay for the long term, giving back
to society and charity is one way.'
The entrepreneurs dug deep into their wallets although
the donations gained them no tax benefit. This year, the law will allow
donations to be tax-deductible and this may help to boost charity money.
Not surprisingly, south-eastern Zhejiang province, the
cradle of private enterprise, boasted the most number of donors with 11.
Next were Guangdong province, Shanghai and Beijing -
China's three most developed and prosperous places.
Real-estate developers also feature prominently. The
industry has produced some of China's richest tycoons, including Shimao Group's
chairman Xu Rongmao, 54, who is ranked 15th on this list.
But there are surprises. Missing is Mr Ding Lei,
founder of Internet portal Netease, who was last year billed by Asiamoney, a
unit of Euromoney, as China's richest man, with assets of US$900 million.
Either Mr Ding, 33, is donating anonymously or has not
given a cent, Mr Hoogewerf said, comparing him to Microsoft chairman Bill Gates,
whose high-profile donations began only at age 45.
Before that, the public had criticised Mr Gates for
being tight-fisted. 'Perhaps, we'll see that when Ding Lei does it, he'll do it
in a very big way,' Mr Hoogewerf said.
Also unexpected: Just 17 of the 100 Chinese business
leaders surveyed last year for a rich list appear on the philanthropy ranking.
They may be donating quietly or they have not caught
on to the value of social responsibility, Mr Hoogewerf said.
But there is a saving grace: The list boasts more
young donors than expected.
Ranked 27th is Mr Chen Tianqiao. Just 31 years old, he
made his fortune on online gaming in Shanghai. There is also Ms Yang Lan, 36,
president of SunTV, ranked 6th and considered one of China's movers and shakers.
The donors' average age is 48.
'You would not have expected them to start thinking
about giving anything to charity, but they are doing it at a young age,' Mr
Hoogewerf said.
RICH AND GENEROUS: Top donors
1) Huang Rulun, 53; real estate Donated: US$25.5
million
2) Zhang Zhiting, 60; Chinese medicine, hotels,
finance Donated: US$15.4 million
3) Li Jinyuan, 46; pharmaceuticals Donated: US$8
million
4) Yu Pengnian, 82; hotel and investments Donated:
US$7.5 million 5) Chen Yiding, 37; software Donated: US$5.4 million Source:
Euromoney China
- 2004 May Singapore
Business Times May 2004
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