Forbes has announced plans to cancel its China philanthropy list from this year.

Forbes entered China in 1999 and launched its first "China's 100 Richest" list. In 2004 it began to publish a list of the top philanthropic Chinese citizens.

Zhang Xiaohua, marketing director of Forbes China, has explained to local media that the cancellation of the philanthropy list was mainly due to the immaturity of the charity sector in China and many rich people's unwillingness to have their wealth disclosed and their name published. Zhang has not said when the list will be resumed.

Hurun, a competitor of Forbes, says that it won't follow suit. Currently there are 100 entrepreneurs on Hurun's charity list.

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