Caixin OnlinePolitics & LawTop Stories Politics For China's Wealthy, Charitable Giving Hurts
09.30.2010 19:34

For China's Wealthy, Charitable Giving Hurts

A philanthropic pitch from Warren Buffett and Bill Gates stirred soul-searching in a country hobbled by charity restrictions
By staff reporters Lan Fang, Long Xueqing, Zhang Yanling, Wang Shanshan, Wang Duan and intern reporter Dai Lian

Investment magnate Warren Buffett and the world's richest man Bill Gates promised to donate most of their wealth to charitable causes. They also want the rest of the planet's gilded class to follow, including China's nouveau riche.

The two men pitched their case at invitation-only dinners across the United States over the past year, urging Americans with deep pockets to give away assets. Their so-called Giving Pledge so far has won dozens of American individuals and families.

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