Internet Philanthropy And A New Generation Of Giving In China

credit: Brian Corn/ The Wichita Eagle

The giving season is upon us, which means it's time for you to start thinking about what you'd like to do with your money.

If you're in China, you can do so on Tencent's 99 Giving Day, which takes place on the first Saturday in February.

The social media and e-commerce company's founder, Pony Ma, has pledged to donate 99% of his company's profits to charity, the BBC reports.

It's the first time a Chinese company has raised that much on a single day, and it's part of Ma's larger philanthropic push in the country.

He's also pledged to donate 10% of his company's profits to charity every year for the next three years.

China's giving scene has changed in recent years thanks to the country's Internet and e-commerce giants, as well as the government's support of traditional Chinese cultural values, Quartz reports.

According to a 2016 UN report, most online donors in China are young, and younger people in China are more likely to give to charity than people in the West, who are typically wealthy individuals, followed by foundations, and then corporate giving.

"The innovative approach to giving developed has made it easier than ever for people Read the Entire Article

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