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Chinese Leaders Open Their Wallets For Charity
December 15, 2005 |
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| Category: News
Chinese President Hu Jintao and former leader Jiang Zemin have put their money where their mouths are with chairitable donations to agencies in China.
Xinhua reports that sources with the Communist Party of China (CPC) Central Committee say the two leaders earmarked the donations for natural disaster victims.
Recent news reports show that up to 99% of China's business enterprises do not donate to charity. The leaders' moves might be a symbol for corporations to start opening their wallets and to develop a sense of corporate social responsibility.
Currently in China companies and individuals are not offered tax incentives when donating to charities.
There is no indication exactly how much money was donated by either leader.
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