May 23, 2008 | Read Time: 1 minute
Seventy-three of China’s wealthiest people and the companies they run have given at least $120-million to earthquake relief efforts, says The Hurun Report, a business publication in Shanghai.
“The earthquake is a watershed for corporate social responsibility in China,” says Rupert Hoogewerf, the researcher who compiled the figures.
Some experts speculate that the disaster giving will help strengthen China’s fledgling charities and philanthropic efforts.
But as The Hurun Report points out, the $120-million has gone to the Ministry of Civil Affairs, a government agency, and not private groups. So far the ministry has received $1.2-billion to help earthquake victims.
By comparison, at least $24-million have been raised by American nonprofit groups for the disaster, reports The Chronicle.
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