Although philanthropy in China remains relatively low compared to the West, the country has seen significant growth since 2005. According to Robin Carey, a specialist in China’s economy at the University of Central Lancashire, U.K., China’s charitable giving is just 0.1 percent of gross domestic product (GDP), compared to around 2 percent of GDP in the U.S.
“By Chinese standards, the nation is certainly experiencing a ‘Golden Age’ of philanthropy, though the driving force behind this hasn’t just been the growing middle class — it is also down to the rise of China’s super rich,” said Carey.
Chen believes that while China is catching up with the “mature” history of charity and foundations in the U.S. and Europe, the country can draw from its own heritage to help it advance philanthropy.
“Chinese traditional culture encourages people to benefit the world. Many ideas from Chinese culture encourage people to give more, have more and also encourage people in that if you do a good thing, you will have a good result. So it’s in every Chinese person’s mind. But how to do it?”
For Tencent, the answer was obvious — use payment services already provided using the WeChat messaging app to allow people to donate without any hassle. In merging technology with philanthropy, Chen and his co-founders had moulded tradition with modernity. Since its launch 11 years ago, Tencent’s charitable platform has raked in 1.5 billion yuan from 140 million individual donations. Three years ago, the tech giant decided it would encourage users to browse 6,500 other charitable projects and organizations using the Tencent platform.
When a 2008 earthquake killed tens of thousands in the province of Sichuan, Tencent raised more than 20 million yuan through individuals using its online platforms.
For Chen, the key to maintaining public trust and continuing China’s golden age of philanthropy is corporate “transparency.”
