Press release: New Report Shows Chinese Philanthropy Sector Has Quadrupled to USD 23.4 Billion Since 2009
Total giving in China has grown to a remarkable USD 23.4 billion in 2017, with registered foundations increasing by 17% over the last decade and corporate giving dominating philanthropic efforts by contributing more than 65% of total giving in 2016. These indicators reflect the sector’s growth into a powerhouse for development. Published by AVPN and supported by The Rockefeller Foundation, Philanthropy in China is a first-of-its-kind report that looks beyond indices and rich-lists, and details the unique evolution and characteristics of Chinese giving, highlighting key trends, opportunities and challenges that philanthropists – both Chinese and international – can leverage to maximize their impact.
“With the new regulatory environment and rapid growth of philanthropic capital in China, we see a need to marshal resources more effectively towards the delivery of scalable, high-impact solutions,” says Naina Subberwal Batra, Chairperson and CEO at AVPN, which authored the report. “The Philanthropy in China report not only seeks to carve new pathways for philanthropists to adopt more sophisticated social investing practices in China, but also enhance our collective ability to achieve the UN Sustainable Development Goals.”
Photo courtesy of faungg’s photos.