China can deal with criticism better - Shirley Ze Yu

Shirley Ze Yu

China has been sending corona aid to many European countries, but got under fire because of the quality of the medical gear. Political analyst Shirley Ze Yu says China could have dealt with its critics in a better way, she says at Al Jazeera. 

Al Jazeera:

According to Shirley Ze Yu, a political economist and Asia fellow at the Ash Center in Harvard Kennedy School, China should be more receptive, and less defensive, to criticism.
She said instead of "refuting" allegations of European nations, China should "investigate domestic medical device manufacturers, and eradicate substandard or un-licenced production capacity within the country".
China has built itself into the "world's factory" over the past three decades, she added, saying it would be challenging for any other country to match its manufacturing efficiency.
"China should use the occasion to clean out any speculative business activity that not only puts human lives, but China's global manufacturing reputation at stake.
"At the end of the global pandemic, not only world leaders, but all people all around the world will form a very personal opinion about China.
"China needs to understand that leadership is ... not about just helping 'friends' and allies, but all under suffering."

More at Al Jazeera.

Shirley Ze Yu is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers' request.

Are you looking for more political analysts at the China Speakers Bureau? Do check out this list.  

Help from religious groups in coronacrisis not always appreciated - Ian Johnson

Ian Johnson

The national fight against the coronavirus has also triggered off help in temples, churches and mosques, writes author Ian Johnson of The Souls of China: The Return of Religion After Mao in the New York Times, but not all help has been appreciated. Religious groups have been donating large amounts of money, a feature hard to imagine even ten years ago, he writes. 

Ian Johnson:

“In China the government likes to control all channels for donating money,” Pastor Huang said in a telephone interview. “They don’t like civil society to participate, and especially not faith-based organizations.” 

Still, many religious groups — particularly those that have registered with the government — have been doing just that. 

According to recent figures from their websites, the China Buddhist Association has contributed $14 million to the fight against the coronavirus, the Protestant association $10 million, the Islamic association $4.5 million, the Catholic association $1.5 million and the Taoist association $1.9 million. 

Some donations have been prompted by dissatisfaction with China’s large government-run charities. The Red Cross, the China Charity Federation, the Hubei Charity Federation and the Hubei Youth Development Foundation have donated the equivalent of $1.9 billion. But their work has been plagued by accusations of corruption, leading the national Red Cross to send a review team to Hubei Province, where Wuhan is. 

These charities also often channel money from big businesses, while the donations from China’s religious organizations are led by grass-roots efforts supported by ordinary people, said Professor Wu. 

The two Taoist temples that helped the town of Caohe received hundreds of small donations from believers, according to lists published on the temples’ social media accounts. 

In the Chinese city of Wenzhou, the Rev. Wu Shengli of the Chengxi Protestant Church said the city’s Protestant churches were asked by local officials if they could donate roughly 1 million yuan, or about $143,000. He said that worshipers were glad to do it.

“People aren’t reluctant,” he said. “People are very willing to help out and the final amount will be higher.” 

Susan McCarthy, a political scientist at Providence College who studies faith-based charities in China, said these kinds of donations can also help religious organizations prove their loyalty to the state. 

“The government is happy if religious groups make contributions but is wary that they will use charity to expand their base and infiltrate society,” Ms. McCarthy said. “My sense is a lot of this is defensive, or to prove their patriotism.” 

But for many believers, the nonmaterial aid is the most meaningful. 

Even though all places of worship in China are closed as part of the effort to prevent the virus from spreading, temples and churches have been organizing prayer vigils, while halal restaurants in Wuhan have provided free meals and boxed lunches to medical staff at local hospitals.

More in the New York Times.

Ian Johnson is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.
Are you looking for more political analysts at the China Speakers Bureau? Do check out this list.

Is the coronavirus disrupting your China meeting? Do check out if the China Speakers Bureau can help you.
At the China Speakers Bureau we have started to explore WeChat Work as a social platform, next to Twitter, Facebook and LinkedIn. Are you interesting in following us on this journey? Check out our instructions here.

How China charity got another hit - Rupert Hoogewerf

Rupert Hoogewerf

One of China´s most prominent philantrophists, Chen Guangbiao, contributed much to the development of charity in China, but, says Rupert Hoogewerf or Hurun and publisher of a respected charity index, after recebt publications by Caixin he caused equally much embarrassment in the industry, he told the LA Times.

LA Times:

Last week, Caixin, a Chinese investigative news outlet, published an expose saying that Chen falsified and exaggerated donations, damaging his public image and underscoring rapid shifts in China’s culture of philanthropy. Charitable giving in China is beginning to mature, analysts say — and Chen, with his attention-seeking stunts, has been left out of the emerging order. 

Chen has “driven the subject [of philanthropy in China] forward,” said Rupert Hoogewerf, publisher of the Hurun Report, a respected index that tracks China’s high-net-worth individuals. “But that’s up until that point in New York, when he became a bit of a disaster. People felt his way of making donations was too spectacular to be true, that he was too much of a showoff, kind of cringe-worthy in some ways.” 

Now, “there’s a lot of creativity going on in philanthropy” in China, he continued. “Building a wall of money and showing it off, that just embarrasses people now, because there are people doing some really serious stuff.”

More in LA Times.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers´request form.

Are you looking for more experts to mange your China risk at the China Speakers Bureau? Do check out this list.  

Related articles

• Where Do China's Wealthy Live? Guangdong

China`s rich make their own platforms to donate - Rupert Hoogewerf

Rupert Hoogewerf

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.

VOA:

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.

More at the VOA.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers´request form.

Are you interested in more stories by Rupert Hoogewerf? Check out this list.  

Charity: slow in China - Rupert Hoogewerf

Rupert Hoogewerf

China´s rich make more money than ever, but charity is not keeping pace with that growth, shows the latest Hurun Philanthropy Report. Some "are leaders of the new pack, and it’s still early days,” says Rupert Hoogewerf, founder and chairman of the Hurun Institute to Barron´s.

Barron´s:

Out of 630 billionaires of Chinese origin globally, only 51 have given at least CNY500 million ($80 million) to charity over their lifetime, Hurun Report found in compiling its “big philanthropy” report of global Chinese giving. Simply put: “That’s not a huge amount,” says Rupert Hoogewerf, Hurun’s chairman. 

Topping the list are four familiar names who gave at least CNY10 billion: Li Ka-shing, the billionaire head of CK Hutchison Holdings; Pony Ma Huateng, Tencent CEO and co-founder; Priscilla Chan who is listed with her husband Mark Zuckerberg of Facebook; and Jack Ma, Alibaba co-founder and executive chair. 

Of the 51, only 25 are from mainland China, another surprise to Hoogewerf who thought mainland Chinese would comprise at least 80% of the list. 

But there are several reasons for the meager showing. 

First, Chinese wealth may be large and globally apparent, but it’s relatively new. Although those on Hurun’s list of global Chinese philanthropists are age 66 on average, China’s ultra-rich - with $30 million or more in liquid assets - have an average age of 53 versus age 58 throughout Asia, Wealth-X stats show. Chinese are also still in the process of amassing wealth and may not have thought yet about how and where to give it away. 

Consider two of China’s most high-profile billionaires Jack Ma and Pony Ma Huateng, who set up charitable foundations from their personal fortunes within the last two years. In 2014 Ma, 52, announced he would donate $2.4 billion in Alibaba shares to a foundation he runs with Alibaba executive vice chair, Joe Tsai, 52. The group works on environmental, health care, education and culture issues in China. Pony Ma Huateng, 45, followed this year by committing to donate $2.1 billion in Tencent stock to a charitable foundation focused on similar issues in China.

“They are leaders of the new pack, and it’s still early days,” Hoogewerf says.

More in Barron´s.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers´request form.

Are you interested in more stories by Rupert Hoogewerf? Do check out this list.

Why a charity law makes sense - Rupert Hoogewerf

Rupert Hoogewerf

After seven years of deliberations, China is ready to adopt its first charity law. The sector has been marred by scandals, and the new law can introduce some oversight, says Rupert Hoogewerf, founder of the Hurun Rich List to Reuters.

Reuters:

In a 2015 survey of countries ranked by generosity of the public, the London-based Charitable Aid Foundation placed China second from bottom. A lack of trust is seen as the main factor for that. 

In one prominent case that dented confidence, a celebrity linked to a charity was jailed for running a casino after pictures of her driving a Maserati sports car and flaunting designer handbags appeared on social media. 

In another case, a provincial branch of a foundation used donor funds to invest in real estate, according to media. 

"There was very little public accountability," said Rupert Hoogewerf, founder of the Hurun China Rich List. "When there's fund-raising from the public, you have the right to know how that money is being used." 

The law comes against a backdrop of a broad crackdown on civil society groups since 2012, with authorities citing the need to buttress national security and stability, and groups seen as posing a challenge are unlikely to see any relief.

More at Reuters.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers´request form.

Are you looking for more stories by Rupert Hoogewerf? Do check out this list.

What are the Chinese looking for? Journalist Ian Johnson discusses the search for spiritual values.

How do China´s rich spend on charity? - Rupert Hoogewerf

Rupert Hoogewerf

China´s rich are perceived to be stingy when it comes to charity, but they do spend. Rich List Hurun founder Rupert Hoogewerf published his annual top-100 Philanthropists and explains to Barrons how they spend their givings. Jack Ma again keeps the top position.

Barrons:

At least half of the top 100 philanthropists gave their riches to education, in fact, and often to their alma mater. “If you are a graduate of this university and you can go back and name a building, that’s an incredibly powerful sign of your success,” says Rupert Hoogewerf, Hurun’s chairman. 

Philanthropists also gave a lot to their home towns and provinces. About 20% or 30% of the top 100 give to build hospitals, roads and schools, and to alleviate poverty in the regions where they grew up. “There’s a powerful sense of the clan, I come from here, I want to donate back to here,” Hoogewerf says. 

Hurun started the list 12 years ago to show China’s rich do give back and to keep tabs on the emergence of the billionaire likely to emerge as China’s Andrew Carnegie, the wealthy American industrialist and philanthropist who gave away nearly his entire fortune. “We’ve been searching ever since,” Hoogewerf quips. 

Ma – who may still step into those shoes – told the Wall Street Journal last April that his charitable trust would target health care and the environment amid his growing worries about health issues plaguing family and friends that he believes likely are triggered by China’s degrading environment. 

China’s rich remain relatively stingy compared to global standards. But Hoogewerf says you can argue they are actually more generous than you might expect considering China’s tax system doesn’t provide incentives to give money away, in either the form of tax breaks or estate taxes, and because China’s entrepreneurs are relatively young and still building their wealth. 

The average age of philanthropists on the list is about 55. That spans Pang Shengdong of social network 51.com, at age 38, to Tao Xinbo, developer of the five-star Jinling Hotel in Nanjing, at age 99. 

Hoogewerf argues the country may actually be better off if China’s rich put their philanthropic efforts into creating more socially responsible businesses. It would be better, for instance, for a real estate developer to build green buildings than to donate US$2 million at the end of the year to some cause. 

“What’s important is making a product that’s a better product,” Hoogewerf says. “That’s where the energy needs to be focused.”

More at Barrons.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers´ request form.
Are you looking for more stories by Rupert Hoogewerf? Do check out this list. 

Related articles

• More Chinese billionaires than ever - Rupert Hoogewerf
• The number of super wealthy Chinese is growing
• Meet China's richest man who toppled Jack Ma!
• Asia's richest man buys World Triathlon for $650 million

Charity not high on China Richs`agenda - Rupert Hoogewerf

Rupert Hoogewerf

Billionaire Bill Gates has tried in vain to engage his Chinese counterparts to spend more on charity. China Rich List founder Rupert Hoogewerf explains in Knowledge CKGSB why China´s wealthy give no priority to philanthropy.

Knowledge CKGSB:

Beyond the numbers, the reputation of China’s elite as being tightfisted when it comes to philanthropy was solidified in 2010 after media reports that many had turned down invitations to a dinner in Beijing hosted by Gates and Warren Buffet that was intended to raise awareness about philanthropy. Gates later said that two­thirds of invitees attended the event. 

Rupert Hoogewerf, founder of the Hurun Report, says that for the wealthy, charity is “low down on the priorities”. “They feel that… the best way they can give back to society is to grow a strong, healthy business.” ... 

The system also doesn’t help incentivize philanthropy, says Hoogewerf. He points to the absence of US­ style inheritance taxes, from which gifts to charity are usually exempt, as a further reason why the wealthy don’t donate as much as they could. 

The desire of many of China’s wealthy to keep a low profile, so as not to draw attention to their riches and the scrutiny it would inevitably bring, also works against significant philanthropic gestures. And when big gestures are made, they are often dismissed as publicity stunts rather than true philanthropy, as has been the case with Chen Guangbiao, an entrepreneur who made his money in the recycling business.

More in Knowledge CKGSB.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers´request form.

Are you interested in more stories by Rupert Hoogewerf? Do check out this list.

Related articles

• What are Bill Gates and Warren Buffet talking about?
• It was Bill Gates' mother who pushed him into philanthropy after he became a billionaire
• Gates Foundation pours millions more into Common Core
• Jack Ma spends most on philanthropy - Rupert Hoogewerf
• Taking 6,500 employees to Paris, not that stunning - Rupert Hoogewerf

What are the philanthropists giving back? - Rupert Hoogewerf

Rupert Hoogewerf

The Hurun 2015 Philanthropist List does not only look at who is giving, but also has a good look at what they are giving too. Founder Rupert Hoogewerf gives for Barrons an overview. China would be better off if they would invest more in socially responsible businesses, he says.

Barrons:

At least half of the top 100 philanthropists gave their riches to education, in fact, and often to their alma mater. “If you are a graduate of this university and you can go back and name a building, that’s an incredibly powerful sign of your success,” says Rupert Hoogewerf, Hurun’s chairman. 

Philanthropists also gave a lot to their home towns and provinces. About 20% or 30% of the top 100 give to build hospitals, roads and schools, and to alleviate poverty in the regions where they grew up. “There’s a powerful sense of the clan, I come from here, I want to donate back to here,” Hoogewerf says. 

Hurun started the list 12 years ago to show China’s rich do give back and to keep tabs on the emergence of the billionaire likely to emerge as China’s Andrew Carnegie, the wealthy American industrialist and philanthropist who gave away nearly his entire fortune. “We’ve been searching ever since,” Hoogewerf quips... 

China’s rich remain relatively stingy compared to global standards. But Hoogewerf says you can argue they are actually more generous than you might expect considering China’s tax system doesn’t provide incentives to give money away, in either the form of tax breaks or estate taxes, and because China’s entrepreneurs are relatively young and still building their wealth. 

The average age of philanthropists on the list is about 55. That spans Pang Shengdong of social network 51.com, at age 38, to Tao Xinbo, developer of the five-star Jinling Hotel in Nanjing, at age 99. 

Hoogewerf argues the country may actually be better off if China’s rich put their philanthropic efforts into creating more socially responsible businesses. It would be better, for instance, for a real estate developer to build green buildings than to donate US$2 million at the end of the year to some cause. 

“What’s important is making a product that’s a better product,” Hoogewerf says. “That’s where the energy needs to be focused.”

More in Barrons.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers´ request form.

Are you interested in more experts in cultural change at the China Speakers Bureau. Check out our list here.

Related articles

• 10 Rules Of Success Andrew Carnegie Used To Become Incredibly Rich
• Qi Baishi overtakes Zhang Daqian to become best-selling Chinese artist
• How China´s rich diversify their wealth globally - Rupert Hoogewerf
• Alibaba's Jack Ma is China's biggest philanthropist
• Factory worker turned Apple supplier now China's richest woman

Charity, developing fast and maturing - Rupert Hoogewerf

Rupert Hoogewerf

Former prime minister Zhu Rongji is the first senior politician on the latest annual list of philanthropists, made by the Hurun Rich List. Many new names suggest the industry is developing fast and maturing, says Hurun founder Rupert Hoogerwerf to Radio Australia. Zhu contributed US$4 million in book royalties.

Radio Australia:

Chairman and chief researcher of the Hurun report, Rupert Hoogewerf, said Mr Zhu's contribution marks the first time a book royalty donation has made the list. 

The former premier is among 71 new philanthropists this year - the highest since records began in 2004. 

Mr Hoogewerf said the new names suggested charitable giving by the wealthy was still in its "early stages" in China. 

"It shows that charitable donations are still in the early stages, but the fact we are seeing so many new faces shows me that the industry is developing and maturing," he told the ABC. 

"Also, it is worth bearing in mind that many donations are made on a one-off basis and thereafter, it is the foundation that makes the annual donations." 

China's richest man and founder of e-commerce giant Alibaba, Jack Ma, ranked as China's most generous person, after he donated a 1.4 percent stake in his firm - worth about $2.4 billion - to set up an environment, healthcare and education charity.

More in Radio Australia.

Zhu Rongji

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers´ request form.

Are you interested in more stories from Rupert Hoogewerf? Do check this regularly updated list.  

Related articles

• Alibaba´s Jack Ma now tops rich list - Rupert Hoogewerf
• IT new 'it' sector for rich
• How women billionaires differ from men - Rupert Hoogewerf

Shenzhen Attitude - Mark Obama Ndesandjo

Mark Obama Ndesandjo

by Mark Obama Ndesandjo

During a recent discussion with some children, I suggested a game. I proposed giving each of the 26 letters in the English alphabet a number: A is 1, B is 2, C is 3 and so forth. “Find me a word whose letters add up to 100,” I asked. “It has to do with dreams and success.”

While the children were thinking, I reflected on the power of dreams. Dreams are about the future and our individual potential to carve our own path. It was a dream that brought me to China eight years ago, a dream that I would start a new life, based on learning the language and making a difference.

The city I chose to live in was Shenzhen. To many it is a boom town, sprawling, uncultured and ugly. To me, it is young, dynamic, conveniently situated next to Hong Kong, and full of people from all over China — all seeking their dreams.

Although “Shenzhen speed,” like “time is money,” are catchphrases that help characterize this 30-year old city, I prefer to think of another Shenzhen, a place that is part of the future of China but also has its feet rooted in tradition.

The traditional Shenzhen is still here: All you have to do is look behind the glimmering new skyscrapers and fancy shopping malls. At the gas station on Lian Hua Road, next to the near-bankrupt massage parlor whose gray, neon-lit walls always seem on the verge of collapsing, and where the new subway station has turned the area topsy turvy, one discovers Jing-tian Road almost by accident.

At once there is a hush in the air, as though the street is singing a silent benediction. Tall, leafy mangroves line both sides of the road.

Walking up the gentle incline, I see families playing badminton in a small park to the right. On the left, I spot a woman sitting in her idling, brand new, white Honda, leaning out her window as she chats with a friend, but her mind really focused on showing off her beautiful car. On the right, I see the liu da , or slow walk, of grandparents as they meander behind their grandchildren. As I cross the intersection, branches from the trees dip down precariously so that the leaves feel like they may touch my head.

About five years ago, after a busy workday I returned to a street that just that morning had been lined with 30-year old cypress trees. Now, barely 8 hours later, it was a naked patch of concrete, punctured in regular intervals by large gaping holes where the trees had been torn out. I complained to a Chinese friend, who replied, “Don’t worry, it’s just development. It’s good for Shenzhen.”

I wonder: Does Jing-tian Road face that future? I hope not.

I believe that in the future China, the current Shenzhen disposition will become more relaxed, more traditional. “Time is money” will become “time is precious but can be shared with strangers.” Or, in the words of Confucius,

Don’t just treasure the water, treasure the mountain; don’t just move, but be still, don’t just enjoy, but preserve.

So perhaps by the time the kids of today’s Shenzhen grow up there will be a change in the current attitude toward headlong growth. Perhaps they will begin to ponder questions like: Do they have a wholesome life based on values such as establishing a quality-based economy and social responsibility, and not living just to pursue a quick yuan? Will they begin to stop to check out the blue skies, safely drink water direct from the tap, have more time to be with loved ones, volunteer, and walk where tree leaves gently touch?

The scene on Jing-tian Road mingles the ancient Chinese respect for the environment with a dancing, almost ebullient, sense of repose. It is rooted in the past, experienced today, and, I believe, will be part of that future, wholesome, life.

A pursuit of a dream brought me and millions of others here to Shenzhen. As we Shenzhenites continue to barrel into the future, we will remember our dreams, but also keep an eye on tradition.

As for the word that adds up to 100, take a guess.

Mark Obama Ndesandjo is the author of the novel “Nairobi to Shenzhen.” This article was adapted from his upcoming memoir. Earlier published in the New York Times; here republished with the kind permission of the author.)

Related articles

• Mark Obama Ndesandjo joins CSB (chinaspeakersbureau.info)
• Obama's Half Brother Makes a Name for Himself in China (time.com)

China's rich: no time to spend money on charity - Rupert Hoogewerf

Image via Wikipedia

China's wealthy are just in the middle of making money, spending it has hardly crossed their minds, says Rupert Hoogewerf, who is going to release his official Hurun or China's rich list later this month. "They are too young."he tells CNN.
Last week, US billionaires Bill Gates and Warren Buffett visited Beijing to check out the climate for charity in China. In CNN:

The average age of someone on China's super rich lists is 51, about 15 years younger than their Western counterparts, says Rupert Hoogewerf, chief researcher at Hurun Report.

"Chinese entrepreneurs have made their money very quickly and they haven't really had time to think about how to spend it -- they are still in wealth-creation modes," he said.

Gates and Buffett acknowledge the challenge, but remain optimistic....

"Gates and Buffett are the two biggest authorities on the subject. By coming to China to talk about it, they have sown the seeds in very fertile ground," Hoogewerf said.

Update: In addition, Rupert Hoogewerf told Reuters:

“The main reason is because there is an inherent mistrust in giving your money to any third party to pass it on. They’re convinced that for every 100 that they give, the end party won’t receive anything near that 100,” he said.

Commercial
Rupert Hoogewerf or Hurun is a speaker at the China Speakers Bureau. When you need him at your meeting or conference, do get in touch.

Hurun by Fantake via Flickr

Related articles by Zemanta

• Zong Qinghou, richest man in China - Rupert Hoogewerf (chinaherald.net)
• China's rich give differently - Rupert Hoogewerf (chinaherald.net)
• CSR program adds to competitiveness - Rupert Hoogewerf (chinaherald.net)
• Buffett Says China Charity Meet Exceeded Expectations (businessweek.com)
• Drinks-Making Billionaire Leads China Rich List (abcnews.go.com)

China's rich give differently - Rupert Hoogewerf

Rupert Hoogewerf via Flickr

China's rich give also part of their wealth away, says Rupert Hoogewerf of the China's rich list at the eve before Bill Gates and Warren Buffet hit the stage in Beijing in the New York Times. But they do it in a different way.
While the rich in the US have been increasingly vocal on how they give their increasing fortunes to charity. China's rich have been fairly silent on the initiative to get more millionaires behind the Gates-Buffet initiative. But that does not mean China's wealthy are sitting on their capital, says Rupert Hoogewerf or Hurun of the China Rich List.

“The Chinese have been very generous for a long period of time,” Rupert Hoogewerf, who publishes Hurun Report, said by telephone. “The difference has been that they do it between families, and don’t publicize it. What we’re seeing now is a new era of transparency.”

Commercial
Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch.

Related articles by Zemanta

• CSR program adds to competitiveness - Rupert Hoogewerf (chinaherald.net)
• You: Chinese Attitudes on Generosity Are Tested (nytimes.com)