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People's Daily Online>>China Society

Red Cross closes controversial subsidiary


09:46, January 01, 2012

BEIJING, Dec. 31 (Xinhua) -- The Red Cross Society of China (RCSC) has decided to shut down one of its fund-raising groups due to serious management flaws, as the group's alleged misuse of donations sparked public mistrust in charities.

The China Business System Red Cross Society has been repealed for failing to establish a sound internal management system, maintaining a benefit-based relationship with a consulting company, and committing violations in financial and legal management, an investigation report said Saturday.

The China Business System Red Cross Society, a group founded in 2001 by the China General Chamber of Commerce (CGCC) with the approval of the RCSC, engaged in charity fund raising in the commercial sector. Funds raised by the group are channeled directly to the RCSC.

The group faced accusations earlier this year of misusing charity money after a young woman calling herself "Guo Meimei" claimed online to be a general manager of "Red Cross Commerce" and posted pictures on her tweets detailing her lavish lifestyle.

Netizens related "Red Cross Commerce" to the China Business System Red Cross Society, and speculated that Guo might have funded her purchases by embezzling money from the Red Cross.

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