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Chinese Philanthropist Says Wealthy Respond to His Giving Appeal

September 15, 2010

China’s best-known philanthropist says that more than 100 of his wealthy peers have responded to his appeal to donate their fortunes, the Chinese news agency Xinhua reports.

Chen Guangbiao said Wednesday that the charity commitments followed his announcement last week that he would follow the Giving Pledge advocated by Warren Buffett and Bill and Melinda Gates, becoming the first Chinese tycoon to do so.

Mr. Gates and Mr. Buffett said Tuesday that they will not press wealthy Chinese to commit to the Giving Pledge during a visit to the country this month, saying their intent in coming to China is to share their philanthropic experience with the country’s “newly minted” crop of successful entrepreneurs, The Seattle Times writes.

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China’s best-known philanthropist says that more than 100 of his wealthy peers have responded to his appeal to donate their fortunes, the Chinese news agency Xinhua reports.

Chen Guangbiao said Wednesday that the charity commitments followed his announcement last week that he would follow the Giving Pledge advocated by Warren Buffett and Bill and Melinda Gates, becoming the first Chinese tycoon to do so.

Mr. Gates and Mr. Buffett said Tuesday that they will not press wealthy Chinese to commit to the Giving Pledge during a visit to the country this month, saying their intent in coming to China is to share their philanthropic experience with the country’s “newly minted” crop of successful entrepreneurs, The Seattle Times writes.

The Giving Pledge “is just one approach to philanthropy, and we do not know if it’s the right path forward for China,” they wrote in a letter published by Xinhua.

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