80% of China’s large donations going abroad|Society|News|WantChinaTimes.com

80% of China’s large donations going abroad|Society|News|WantChinaTimes.com.

Overseas charitable organizations became the major recipients of donations from China’s top 100 philanthropists in 2014, accounting for 80% of the total amount of donations due mainly to tax incentives offered abroad, according to a report by Caixin, a Chinese news website.

In 2014, total donations from China’s top 100 philanthropists stood at 30.4 billion yuan (US$4.83 billion), more than double the 14.7 billion yuan (US$2.35 billion) the year before, according to the Top 100 Chinese Philanthropists list for the year, released Feb. 6 by the China Philanthropy Research Institute.

This was the first time the total amount exceeded 30 billion yuan (US$4.8 billion) since the list was first published four years ago. The number of donors giving over 100 million yuan (US$16 million) was 24, also a record high according to the list.

The highest single donation on record last year was 16.9 billion yuan (US$2.7 billion) and the lowest on the top 100 list was 11 billion yuan (US$1.7 billion).

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