Wang Jing, chairman and founder of food delivery giant Meituan, donated nearly $2.70 billion (Rs 201 billion) in shares to promote scientific research and education. In addition, Colin Huang, the founder of e-commerce giant Pinduoduo, donated about $1.85 billion (Rs 138 billion) to an educational fund after resigning as the company’s chairman. Earlier this year, media home appliances giants Kehe Jiangjian and Evergrande Real Estate’s Xu Jian donated more than $97 million and $37 million, respectively, to poverty alleviation, medical care and cultural events. Billionaires like Zhang Yiming, founder of TikTok (ByteDance), donated about $770 million (Rs 5.74 billion) for education to his hometown of Longyan in Fujian province.
Analysts believe that the Chinese Communist Party (CCP) and those with a firm grip on the political economy are seeing economic inequality as a warning bell. Tom Cliffe, a senior lecturer at the Australian National University, said that I think income inequality is a big concern for the elite. He said that the biggest concern of politicians is about inequality in income. Perhaps because of this the government has to take such steps. Cliff has studied the business elite in China.
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China tops the Global Rich List-2021
According to the Hurun Global Rich List-2021 data released earlier this year, there are more than 1,058 billionaires in China. Accordingly, China now has more wealthy people than any other country on earth. In this matter, he even overtook the capitalist country America. According to Min Zhou, director of the Asia Pacific Center at the University of California, Western-style philanthropy first took root in China a decade ago. He follows global philanthropic activities. He told that in September 2010, when American billionaires Warren Buffett and Bill Gates visited China for charitable activities. At that time, he had encouraged a lot to donate to the billionaires of China.
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