Donations from billionaires in China have already exceeded last year’s national total, coinciding with the state’s ongoing push for «common prosperity».
$5 billion of charitable donations have come from seven Chinese billionaires alone thus far this year, according to a «Bloomberg» report, exceeding last year’s national total by 20 percent.
A foundation owned by Wang Xing, founder of food delivery giant Meituan, was the top donor at $2.3 billion in June.
The soaring donations occur in the midst of Beijing’s push for «common prosperity» – a term that has been mentioned by President Xi Jinping at last 65 times in speeches and meetings this year, more than doubling the 30 in all of last year.
