Chinese philanthropists favour local causes and educational institutions in particular, a study that tracks giving by billionaires has found.
The biggest donor in the study of China’s top 100 is Wang Miaotong, the head of Huatong Group, the manufacturing conglomerate. Mr Wang has given away 5.6 per cent of his wealth, according to the Ash Center for Democratic Governance at Harvard University’s Kennedy School.
The men and women who made their fortunes from China’s three-decade expansion are reaching an age where they begin thinking about what to do with their money. But they face a wasteland of charity options because China’s communist revolution dismantled traditional charity channels such as clan associations. Beijing remains suspicious of prominent religious groups or non-governmental organisations.