Text Version
RSS Feeds
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  -Text Version
  -RSS Feeds
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
Corporate donations to charities could fall in China amid financial crisis
+ -
09:21, December 07, 2008

 Related News
 China helps capital-thirsty small businesses tide over difficulties (5)
 Comment  Tell A Friend
 Print Format  Save Article
Corporate donations which hit 100 billion yuan (14.5 billion U.S. dollars) this year, may fall down as companies tighten their budgets amid the financial turmoil, charity organizations said.

"The slowdown has begun to affect our operations," Saturday's China Daily quoted Zhang Ying, director of the Fuyang AIDS Orphan Salvation Association, as saying.

Almost half of the funding the association was expecting to get next year is uncertain, as donors, mostly big companies, slash their corporate social responsibility budgets amid economic turmoil, according to Zhang.

Even some of the donations promised to the grassroots organization for the final quarter of this year have yet to materialize, she said.

Zhang's organization is not alone in feeling the impact of the financial crunch.

One of the largest NGOs in the Country, China Foundation of Poverty Alleviation (CFPA), is also not optimistic about the outlook next year.

"We definitely expect donations to fall next year," Wang Xingzui, its executive director was quoted as saying.

Despite the sad expectation, some major corporations promised to continue to fund the good causes.

Swiss Pharmaceutical company Novartis China, which donated cash and goods worth 1.3 billion yuan, will maintain its support next year, according to Hong Chaoyang, from the firm's human resources department.

Chen Ranfeng with Microsoft Greater China Region said the firm's citizenship programs will remain central to its commitment to growing together with China.

Chinese President Hu Jintao met with domestic and foreign charity workers and groups on Friday ahead of a ceremony to honor their contributions. He urged people and organizations from home and abroad to continue to make contributions to China's charity work development.

Source: Xinhua

  Your Message:   Most Commented:
China postpones summit with EU due to French leader's planned meeting with Dalai Lama 
Two Chinese sue Apple for patent infringement 
Is Obama going to reshape the American image? 
Russia, Venezuela to hold joint naval maneuvers
Tensions high in Gaza city

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved