China Regulates Donations From Central Enterprises

December 22, 2009 | Print | Email Email | Comments | Category: Giving, Law & Order

The State-owned Assets Supervision and Administration Commission of the State Council has issued a circular which requires that the donation behavior of central enterprises be regulated and donation amounts and rights be defined.

In the circular, which is called "Notice on Matters Regarding the Strengthening of Donation Management of Central Enterprises", the commission requires central enterprises implement and improve their donation management systems and to adopt unified management procedures for donations from their affiliates.

The circular states that central enterprises shall clarify the scope of their donations, the donation amount and the rights involved in the donation, based on their operational status and economic situation. The circular also requires central enterprises to include these donation expenditures into their budget and classify the donation items and the scale.

According to a representative from the commission, it will supervise central enterprises' donation behavior by combining the management of the annual budget amount and the management of daily donation items.

It is understood that with the rapid development of charities and the increase of awareness of central enterprises in fulfilling their social responsibilities in recent years, the expenditure and scale of donations from central enterprises has been expanding.

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