Lu Weiding, 48, of Hangzhou-based Wanxiang becomes China’s Most Generous with US$720m donation

Tencent's Chen Yidan, 48, was second with a US$500m gift

Real estate developers Xu Jiayin of Evergrande and Yang Guoqiang of Country Garden came in third and fourth

Total donations increased by 3% from last year to US$3.28bn

Over the past five years, the number of people donating to poverty alleviation has been increasing year by year, increasing to 29% of the list this year, making it the second largest donor cause

Education remained the largest donor cause, accounting for 35%, with most giving to their alma mater. Among them, Robin Li and Melissa Ma of Baidu made the largest single donation to Peking University.

4 of Tencent’s co-founders made the list, with Pony Ma, Zhang Zhidong, Chen Yidan and Xu Chenye jointly donating US$50m to their alma mater Shenzhen University

Wu Yajun, 55, the world's richest self-made woman, was the most generous female philanthropist. A total of 21 female philanthropists made the list.

Zhang Yiming, founder of Toutiao and Tik Tok, made the list for the first time

Youngest: Zhang Zetian, 26, together with husband Richard Liu of JD ranked 17^th with a donation of US$35m

80% of the list were also on the Hurun Rich List, an increase of 18 over last year

10 philanthropists from Hong Kong made the list

Wang Jianlin of Wanda ranked 11^st with US$46.9m

The number of living Chinese philanthropists who donated more than CNY 500 million yuan over the years increased by 4 to 65

Hurun Research Institute, world’s largest rich list compiler, released the Hurun Philanthropy List for the 16^th consecutive year

l  48-year-old Lu Weiding donated shares in the listed Wanxiang Sannong worth US$720 million to a charitable trust to commerate his father Lu Guanqiu.  Lu Weiding is the second person from Zhejiang to top the Hurun Philanthropy List, after Alibaba’s Jack Ma.

Chen Yidan of Tencent ranked 2^nd with a US$500m gift, mainly made up of Tencent shares.

Evergrande’s Xu Jiayin ranked 3^rd with a US$230m gift. Xu donated US$90m as an individual to his hometown Zhoukou in Henan and US$70m on the occasion of the Guangdong Poverty Alleviation Day in the name of the group. Xu owns 77% of Evergrande. During the past year, Evergrande has continued to donate in the hundreds of million of dollars.

l  Total donations increased by 3% to US$3.2bn. 46 people donated more than CNY 100 million yuan, 17 more than last year.

l  Over the past five years, the proportion of donations to poverty alleviation has increased year on year, increasing to 29% of the list this year. Education remained the most popular cause for 35%, down 6% from last year. Donations to charitable foundations and other social services dropped 1% from last year, ranking third with 17%.

l  Within Education, the Alma Mater was the preferred cause, led by the Peking University and Tsinghua University with US$140m and US$70m respectively. Other universities that raised more than CNY 100 million yuan from philanthropists on the list included Shenzhen University, University of Science and Technology of China, Wuhan University, Fuzhou University, Nankai University, Wuhan University of Science and Technology, Xi'an Jiaotong University. Robin Li and Melissa Ma of Baidu made the largest single donation, donating US$100m to Peking University in the name of Baidu.

l  73 new faces made the list, 2 more than last year. Among the newcomers, the largest donation was Lu Weiding, who donated US$720m to top the list. 85-year-old Xu Yingqiu from Kaiyuan donated US$88m, followed by Wu Yuanxi and Wu Yuangang from Shenzhen real estate developers Hanjing, with a donation of US$51m.

l  Guangdong philanthropists increased by 8 last year to 29. Fujian philanthropist increased by 5 to 16 people, shooting them back to second place. Zhejiang philanthropists decreased 8 people, ranked third with 6. But Zhejiang philanthropists total donations accounted for the highest proportion of the total list. Sichuan philanthropists have made great progress, 5 more than last year, to 6 people for the first time in the top 3. The number of Jiangsu philanthropists decreased by 3 compared with last year, holding the 4^th place with 5.

l  Guangdong, with 4 more than last year, remains the region with the most corporate headquarters for philanthropists, with 32 people on the list. Beijing has two fewer people than last year, with 17 remaining in second place. Hong Kong has 9 more people than last year with 14, ranking third. In terms of cities, Beijing comes first, Shenzhen second and Hong Kong third.

l  Real estate, with 21 more than last year, remains the industry with the most philanthropists on the list, with 60. In second place was the investment with 25, 6 fewer than last year. IT grew 7 philanthropists from last year with 13, overtaking manufacturing to return to third place. Manufacturing 3 fewer than last year ranked 4^th with 9.

l  The average donation accounted for 0.4 percent of their average wealth, 0.1% lower than last year.

l  70 are from public companies, 20 more than last year.

l  The number of female philanthropists on the list increased by 8 to 21 from last year, which is lower than the 28.7% of female entrepreneurs on the Hurun Rich List. Wu Yajun, 55, the world's richest self-made woman, was China’s top female philanthropist.

l  23% are deputies to the 13^th National People's Congress or members of the Chinese People's Political Consultative Conference. It increased 9% from last year and the percentage is higher than the Hurun Rich List (7.5%).

l  The number of China philanthropists alive today who have donated more than CNY 500 million over the years increased by 4 from last year to 65. Mainland China led the way, with 38, 3 more than last year. Hong Kong is next, with 14, the same as last year. Taiwan has 5, 1 more than last year. The United States has 3, 1 fewer than last year. Singapore has 2, 1 more than last year. Macau, Indonesia and Malaysia each 1, the same as last year. Li Ka-shing, Jack Ma, Pony Ma and Cai Chongxin all donated more than CNY 10 billion yuan over the years.

 (21 May 2019, Shanghai) The Hurun Research Institute today released the Hurun China Philanthropy List 2019, a ranking of the most generous philanthropists from Greater China. This is the 16^th year of the Hurun Philanthropy List and the first time that philanthropists from Hong Kong, Macao and Taiwan philanthropists were included.

Hurun Research based donations on cash and cash-equivalents, together with legally binding commitments, made in the year to 31 March 2019. Donations made by a corporate were assigned to individual shareholders according to the percentage of their shareholding. In the case of Xu Jiayin, for example, donations ascribed to his name for the purpose of the Hurun Philanthropy List took into account donations made by Evergrande multiplied by his 77% shareholding in the group, as well as donations made in his individual name.

This is a brief English language summary of the full Chinese press release which can be found at www.hurun.net. For media enquiries please contact our public relations team whose contact details can be found at the end of this report.

Hurun Research found 114 China philanthropists, who had donated CNY 20 million yuan or more over the past year.

In 2017, China received a new record high of US$21.7bn in donations of goods and money from both home and abroad, an increase of 7.7% over the previous year and up four-fold over the previous decade. Total donations accounted for 0.18% of China's GDP in the same year, with per capita donations of CNY 108 yuan, an increase of 7% over the previous year (according to Giving China 2017 Report released by the China Charity Alliance last year).

Lu Weiding became the 14^th philanthropist to give more than CNY 1 billion yuan in a single donation. Lu donated his shares in the listed entity Wanxiang Sannong in memory of his father Lu Guanqiu, the founder of Wanxiang. These shares had a market value of US$720m, based on the closing price on 9 October last year. This charitable trust indirectly held the equity of three listed companies, Wanxiang Denong, Hebei Chengde Lulu and Zhejiang Civil Aviation.

Charles Chen Yidan of Tencent ranked 2^nd with a donation of US$500m, mainly made up of Tencent shares to a charitable trust.

Evergrande’s Xu Jiayin ranked 3^rd with a donation of US$230m. He donated US$90m as an individual to his hometown Zhoukou and US$70m to Guangdong Poverty Alleviation Day in the name of the group.

Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report said: “The preferred cause of China’s top philanthropists has been education, although poverty alleviation has grown dramatically to become the second most popular cause this year.  I hope the Hurun Philanthropy List can help people understand the mindset of some of China’s most successful entrepreneurs and philanthropists, as well as inspire future generations to give back.”

Top 10 Philanthropists

Source: Hurun Research

↑ Rank increase yoy  ↓ Rank decrease yoy  - No Rank change yoy  * New

l  90% of the Top 10 chose to donate to education and poverty alleviation.

l  8 of the Top 10 are in property.

Female philanthropist

The number of female philanthropists on the list increased by 8 to 21 from last year, which is lower than the 28.7% of female entrepreneurs on the Hurun Rich List. 21 women philanthropists are: Yang Huiyan, Zhang Zetian, Melissa Ma, Bao Junping, Wu Yajun, Qian Ying, Zhang Yue’e, Zhao Ning, Bian Haiyan, Wang Ping, Liao Qingqing, Song Xiao, Tao Hongxia, Zhang Yin, Huang Xi, Xu Xin, Yang Shuxian, Zhong Huijuan, Kuang Xiaoqing, Liang Shaozhen and Yu Xuefeng.

The average age

The average age is 59, four years older than entrepreneurs on the Hurun Rich List and four years older than philanthropists on last year's Hurun Philanthropy List.

Regional distribution

Breakdown by place of birth

Source: Hurun Research

*also most generous philanthropist in the last year

Breakdown by Headquarters

Source: Hurun Research

*also most generous philanthropist in the last year

Donation Cause

Source: Hurun Research

* Social welfare includes charitable foundation & etc.

In terms of casues, education is still the most popular this year, accounting for 35%, but it is 6 percentage points lower than last year. Poverty alleviation has been on the rise year by year in the past five years. Donations to charitable foundations and other public services accounted for 17%, down 1% from last year, ranking third. On medical care, seven percentage points less than last year, it was fourth at 6%

Education. The main donations include campus construction, endowment or establishment of various kinds of student aid funds, teachers and students' bonuses, and helping students in need, etc. The biggest donors still go to their Alma mater.

The number of alma mater donors increased by three from last year, with 30 on the list. In the past year, Peking University received US$140m, Tsinghua University US$70m 470 million yuan, Shenzhen University US$50m, University of Science and Technology of China US$30m, Wuhan University US$30m, Fuzhou University US$20m, Nankai University, Wuhan University of Science and Technology and Xi 'an Jiaotong University received US$10m respectively.

Source: Hurun Research

Set up a foundation or fund. The biggest donor is Lu Weiding, who donated all the equity he held in Wanxiang Sannong. Chen Yidan of Tencent donated US$500m worth of Tencent shares to set up a new charitable trust. Baidu's Robin Li and Melissa Ma donated US$100m to Peking University via a foundation. Chen Fashu donated US$100m to set up medical development fund, etc.

Medical Care. Among them, Chen Fashu of Yunnan Baiyao donated US$100m to set up a medical development foundation. Ji Changrong donated US$20m to the Nanjing Charity Foundation for the Liuhe medical education project.

Some big philanthropists for next year?

In March, Alibaba announced that Jack Ma would sell 21.4 million shares and Joseph Cai 9.2 million shares over a 12-month period starting in April, with a total value of US$5.4bn, for charitable commitments and general wealth planning. The actual amount of the donation will not be known until April 2020, so it is not included in the Hurun Philanthropy List 2019. Jack Ma Foundation is a non-public foundation initiated and donated by Jack Ma in China. According to the official website of Jack Ma Foundation, by the end of 2017, its accumulative donation income is US$90m, accumulative donation expenditure is US$30m, there are 54 cooperative enterprises and 121 public welfare institutions. Since its establishment, Cai Chongxin Foundation has donated a large amount of projects including:

(1) in August 2018, the Cai Chongxin financial aid program will focus on supporting 92 freshmen from poor families in senior high school and university.

(2) in February 2019, made a donation to the new stadium with a total area of 5,904 square meters to Shuanglin town, Nanxun district, Huzhou.

Wang Jian, former chairman of Hainan Airlines, owned 14.98% stake in the group, which announced it would be donated to the Hainan Cihang Charitable Foundation after his death last year, according to an open letter released to Hainan Airlines employees in 2017. According to the Hurun Institute's statistical methods, his donation could amount to US$1.9bn. But there is no document or message that shows exactly whether the donation has been completed. In addition, the Hurun Philanthropy List only ranks Chinese philanthropists alive today, and therefore Wang Jian is not included in the Hurun Philanthropy List 2019.

Before Xiaomi went public last April, Lei Jun received an equity incentive of about 64 million class B common shares, or about 2% of the company's total equity, worth US$1450m. In January, it was announced that he would give all of his equity incentive to charity. Because this donation pledge has not been clear about the specific purpose and the implementation of the amount, so not included in the Hurun Philanthropy List 2019.

Colin Huang Zheng of Pindduoduo announced he would donate some of his own shares in the company to set up a private charitable foundation after the IPO, according to the company's prospectus before its listing last July. Last year, Huang Zheng set aside about 2.1% of his personal shares, worth about US$580m, for the private charity, according to its annual report. But the private charitable foundation is still in the process of being set up, and one of the important uses of the foundation is to provide help for its own employees, which is not included in the calculation of the Hurun Philanthropy List, and thus not included in the Hurun Philanthropy List 2019.

In December 2018, Netease's Ding Lei said in a post on his Wechat that he would donate US$10m to the public welfare of online education to support more schools in poverty-stricken areas to launch live online classes and promote the inclusive development of education resources in China. Because this part of the donation did not find public implementation of information, and therefore not included in the Hurun Philanthropy List.

Largest donations by Global Chinese alive today

There are now 65 Chinese who have donated more than CNY 500 million in their lifetime, up by 4.

Philanthropists who have donated CNY 10bn or more

Source: Hurun Research

In alphabetically order

Philanthropists who have donated between CNY 5bn and CNY 10bn

Source: Hurun Research

In alphabetically order

* New in this level ** New to the report

Philanthropists who have donated between CNY 3bn and CNY 5bn

Source: Hurun Research

In alphabetically order

* New in this level

Philanthropists who have donated between CNY 1bn and CNY 3bn

Source: Hurun Research

In alphabetically order

** New to the report

Philanthropists who have donated between CNY 500m and CNY 1bn

Source: Hurun Research

In alphabetically order

** New to the report

Stats from the Hurun Philanthropy List

Source: Hurun Research

* the amount donated is the cumulative amount donated since 2003

** includes Hong Kong, Macao and Taiwan philanthropists

Methodology

To put together a comprehensive list of the largest philanthropists of China is an almost impossible task. However, we believe that the Hurun Philanthropy List, published since 2004, is the most serious and authoritative effort to date, identifying the individuals and highlighting the causes they donate to.

To make this list, the Hurun Research Institute surveyed 3000 of China’s most successful entrepreneurs, including more than 2000 from the recently released Hurun China Rich List 2018 and the Hurun Global Rich List 2019, meticulously cross referencing the results with media reports and charitable foundations. In the course of the research, Hurun Research Institute attended non-profit-related seminars, as well as meeting with scholars, experts, philanthropists and senior members of charitable foundations.

Hurun Research includes cash and cash equivalents pledged with legally binding commitments for the twelve month period from 1 April 2018 to 31 March 2019. When comparing previous lists, please note that for corporate donations Hurun Research for the second year running multiplied the donation by an individual’s shareholding in the company.

The list includes only individuals born and bred in mainland China regardless of the passport they currently hold. Values are rounded, and past figures are subject to exchange rate fluctuations.

Thank you to all the organizations and individuals who have supported and helped us in compiling the list.

Hurun Philanthropy List 2019

About Hurun Report Inc.

Nobody Knows China’s Rich Better!

Established in 1999 by British accountant Rupert Hoogewerf, Hurun Report Inc. has grown into a leading research platform based in Shanghai and Mumbai, best-known for its China and India rich lists, and with 150 employees today. Hurun Report Inc. has four main divisions.

Hurun Research Institute ‘World’s Largest Rich List Provider’

2019 marks the 20^th anniversary of Hurun Report, highlighting the fastest wealth creating period in the history of the world.

The Hurun Richest Self-Made Women in the World has been highlighting for over ten years the fact that over 70% of the world’s most successful women in business herald from China, ie Chinese are completely dominant in the world of women in business. This has changed the way the world looks at Chinese women in business.

The Hurun China Philanthropy List ranks the most generous individuals in China and is now in its 15th anniversary. With no inheritance tax, Chinese give much more generously than many have previously understood.

Two recent lists with an impact include the Hurun China Unicorn Index, ranking the most dynamic businesses with a valuation of US$1bn or more in China; and the Hurun Most Successful University Alumni.

In India, Hurun Research has launched the Hurun India Rich List for the seventh time last year, and has an active events business there.

‘World Authority on the Chinese High Net Worth Individual’

Recent research partners include financial institutions (PingAn, Bank of China, Taikang Life, Minsheng, Citic), local government (Shanghai, Changbaishan) and Global 500 multinationals (Marriott, Country Garden, Agile, Audi, Volvo).

Three breakthrough lists this past year: Hurun Good Doctors’ List, a ranking of the 9500 most respected doctors in China, broken down by region and speciality; Hurun Best International Schools List; and Hurun Creative Works Intellectual Property List, in Search of the Harry Potter of China, ranking those online novels with the most valuable IPs.

The Hurun Art List ranks the top artists alive today in China for the 12th year and has become a household name amongst artists.

Media and Events ‘The Hurun brand gets 200 million views a month in China’

The Hurun brand has become one of the few non-Chinese media brands to become a household name across China.

Hurun Media monetizes 1 million views a month in China, through its wechat, weibo, website and legacy magazine.

Recent themed events include blockchain, fintech and 30 under 30, with industry-respected awards. We deliver 100+ events a year in China, with 200 entrepreneurs from the Hurun China Rich List attending.

Hurun Report kicked off the world's largest Chinese New Year dinner series in Shanghai on January 16, and is going to 8 cities across 4 continents. Toronto on Jan 20, New York Jan 23, LA Jan 25, London Jan 28, Istanbul Jan 29, Luxembourg Jan 31 and ending up in Sydney on Feb 18. Hurun Report’s mission is to create the world's largest platform of China gatekeepers.

Investments

Hurun Investments has a portfolio of 20 companies with a market value of US$50 million, with investments into tech, media, design, education as well as a vintage car race and a tailor.

The number "20" is integrated into the Chinese character ‘谊’ pronounced 'yi', meaning 'friendship', symbolizing how building friendships is at the core of how Hurun Report does business with its partners.

For further information, see www.hurun.net

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