September 21, 2009 | Read Time: 1 minute
As fund raising goes more global, a new study shows that China continues to increase its philanthropic potential.
According to a study by the Chinese Academy of Social Science, Chinese charities raised $15.2-billion in 2008, more than three times the amount in the previous year, says China Daily, an English language newspaper in Beijing, and China CSR, a Web site that tracks corporate giving.
The study says that for the first time individuals gave more than businesses. It credited the growth to the government’s effort to create laws that govern donations and nonprofit groups.
In a separate article, China Daily reports that the country’s Ministry of Civil Affairs expects a comprehensive charity law to be in place in one or two years.
It is unclear what a new law would mean for American charities that work in China. The government has restricted many foreign groups from operating or raising funds within the country, but that could change.
Read The Chronicle’s article about how more American charities are seeking donations from abroad. (A paid subscription or free temporary pass is required to view this story.)
What do you think? What does the growth in Chinese philanthropy mean for nonprofit groups?
