China, and especially its youngsters, are paving the way into the metaverse, says innovation expert Arnold Ma, founder of Qumin, in Techround. For example, when it comes to funding of charities, he adds. “China’s younger generations are highly receptive to emerging technologies, so a metaverse version of an initiative like 99 Giving Day, powered by WeChat or a future platform, would be a powerful way to attract more funding.”
China’s philanthropists spend most of their money on education, followed by poverty alleviation, says the 2019 Hurun Philanthropist List, according to the Hurun chief researcher Rupert Hoogewerf in a press release. Automotive executive of China’s largest auto components company Wanxiang Group tops the list with US$720 million.
One of China´s most prominent philantrophists, Chen Guangbiao, contributed much to the development of charity in China, but, says Rupert Hoogewerf or Hurun and publisher of a respected charity index, after investigations by Caixin he caused equally much embarrassment in the industry, he told the LA Times.
China´s rich donate relatively little to good causes, but when they do, they prefer to use their own platforms, not third parties, to do so. They try to avoid charities like the Red Cross, says Rupert Hoogewerf, chairman of the Hurun institute to VOA, and look for more creative ways to donate.
The Hurun China rich list published its annual list of people giving to charities. Not only grew the amount of gifts year-on-year in 2016 50%, the givers organize their charity more professional and are better aware of its effects, tells Hurun Chairman Rupert Hoogewerf in the Luxury Daily.