The fact that a Hong Kong charitable foundation has pledged USD 350 million to the School of Public Health, Harvard University, has become big news.

The wealthy in Hong Kong are keen on medical treatment, education and disaster relief

According to statistics, as well as the two brothers Ronnie and Gerald Chan, who own the foundation, Li Ka-shing, the richest man in Asia, has donated around HKD2 billion to education, including the School of Medicine in Hong Kong, since 2000.

Lee Shau-kee, a Hong Kong based real estate tycoon, pledged HKD 45 million to The Hong Kong Polytechnic University in September 2003.

Cheng Yu-tung, another Hong Kong billionaire, contributed HKD 400 million to Hong Kong University in March 2008.

The well-known international figure Run Run Shaw has donated substantial sums to schools in mainland China and Hong Kong.

It can easily be seen that the wealthy in Hong Kong are keen to contribute to education, medical care and disaster relief. Li Ka-shing has said that he will give priority to education and health care.

Initiatives for donations

Gerald Chan, one of the recent donors, earned a master’s degree and a doctorate at the School of Public Health in the 1970s, worked as a research fellow at the Dana-Farber Cancer Institute, and published several scientific papers. Chan now devotes himself to relieving diseases, environmental crises, and poverty.

Holding the belief that knowledge can change outcomes, Li Ka-shing's donations to education are unstinting.

Schools often name the buildings after the name of contributors.

In addition, schools in Hong Kong take the initiative in raising funds for their development. The Hong Kong Legislative Council has set up a Matching Grant Scheme for the post-secondary education sector aimed at encouraging social donations and fundraising.

According to the scheme, the matching should be dollar for dollar up to HKD 45 million, beyond which a one-to-two ratio is proposed (i.e. one government dollar for every two dollars of private donations raised). The upper limit is HKD 250 million. Therefore if The Hong Kong Polytechnic University receives HKD 45 million from Lee Shau-kee, they will get another HKD 45 million from the Hong Kong government - HKD 90 million in total.

Furthermore, financial transparency also guarantees donations from private sectors.

Long-lasting donation culture in Hong Kong

Charitable groups have a long history in Hong Kong. The Tung Wah Hospital Group, dating back to 1870, is the oldest and the largest charitable organization in Hong Kong.

Charitable groups are the third driver to promote social stability in Hong Kong along with the Hong Kong government and the market.

The article is edited and translated from《香港部分富人为何偏爱捐资助学？（记者观察）》, source: People's Daily Overseas Edition, author: Ren Chengqi