News Snapshot:
Shenzhen, China– Chinese billionaires have recently become very generous. In recent months, Wang Xing, chairman and founder of food delivery giant Meituan, has donated approximately US$2.7 billion in stocks to his personal charity, as well as several other large gifts. After e-commerce giant Pinduoduo’s founder Huang Kelin resigned as chairman of the company in March, he donated approximately US$1.85 billion to the education fund. Earlier this year, He Xiangjian of Midea’s home appliance empire and Xu Jiayin of Evergrande’s real estate empire allocated approximately US$975 million and US$370 million for poverty alleviation, medical and cultural projects, respectively. The generous list...
