China to develop Philanthropy through charity law

Global Business

The annual meetings for The National People’s Congress and the Chinese People’s Political Consultative Conference is covering more ground in its sixth day. Philanthropy is in focus, as a draft of China’s first bill regulating charities was submitted to the national legislature.

CCTV’s Hou Na reports from Beijing.

To establish a more standard and transparent environment around charity donations in China and encourage involvement, the draft of the country’s first charity law will be discussed during the Two Sessions.

The Chinese are getting rich and becoming more willing to give. A charity law is needed to guarantee donors’ rights, help the underprivileged and punish fraud.

Only social organizations and non-profit government organizations designed for public welfare will be entitled to solicit donations from the public.

All parties concerned, whether individuals or entities, will be required to register why they are launching an online campaign.

The charity must also make public for proper supervision information on how any donations are collected and used.

Andy Ho on Chinese philanthropy

CCTV America’s Rachelle Akuffo spoke to Andy Ho, the U.S. Development Director of the Salzburg Global Seminar in Washington, D.C.