As of today, there are ten charitable foundations to provide stipends for poverty-stricken students in Shanghai.

Shanghai Huiyin investment company Ltd. provided 500,000 yuan for the establishment of a charitable foundation in its own name on November 30, bringing the combined fund volume of the ten foundations to more than 30 million yuan.

The staff at Huiyin understand the importance of education in social development, said company president Ao Weidong.

The company deals in securities, futures, real estate and development of high technology. It contributed three million yuan to various charities this year alone. (Xinhua)