This week, my colleague Tara McMullen shares her interest in philanthropy in China, and her delight in the impact that a small but growing cohort of women change-makers are having on the philanthropic landscape in Asia. These women are diverse in their backgrounds, corporate specialties, and philanthropic priorities; their outlook is currently mainly within China but their philanthropic scope is increasingly global. How is your organization planning to involve this new generation of influential donors? ~Helen
Over the past decade, there has been a surge in charitable giving in China – a surge which appears to be a consequence of the rapid wealth creation observed in the country. Several decades of rapid economic expansion have led to explosive wealth accumulation, resulting in a record number of billionaires. As of 2018, mainland China was home to 338 billionaires (with an additional 93 in Hong Kong). The only country in the world that has more billionaires is the United States – with 680 – but the Chinese mainland had the highest number of new additions to Forbes’ 2018 billionaire list with 89 – almost twice as many as the U.S. (at 45). [Read more…]
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