Unleashing the Potential of Philanthropy in China

Dec 01, 2015
  • Description

Countries like China, but also Brazil, India, Indonesia and South Africa, are becoming more involved in development assistance not only through government aid but also through private investment, remittances and homegrown philanthropy. As the world looks for additional sources of funding to finance its fight against poverty, inequality and climate change, a lot of hope is resting on the rise of philanthropy. A strong and healthy philanthropic sector in China, confident in looking outside its borders and with the right capacities to respond to the great demands, will benefit China, as well as the rest of the world. This report believes that China today has the unprecedented opportunity to tap into its expanding non-profit and philanthropic sector. Home to record numbers of billionaires who have started to give back, with more and more corporations investing in corporate social responsibility (CSR) and with an expanding middle class increasingly aware of environmental and social challenges, China has vast resources to mobilize in support of philanthropy. In the last few years, technology and new media have created innovative ways to donate, which are making it even easier for the general public to participate in philanthropy. Finally, as Chinese businesses and state-owned companies continue to go global, China's philanthropists are also starting to look beyond their borders.