ecns [expanded by feedex.net]: Regulating philanthropy for public benefit

ecns [expanded by feedex.net]

ecns

Regulating philanthropy for public benefit
http://www.ecns.cn/2016/03-17/203348.shtml
Mar 17th 2016, 15:17



China's new charity law is the first of its kind. It comes into being as China targets lifting all its rural residents above the poverty line by 2020. Experts say the law will help achieve this goal.
Ten years in the making. China finally has a law for charity. In 12 chapters and 112 articles, it defines activities and organizations.The new law regulates the criteria for founding and registering charity organizations. It also addresses the management of such activities.
"The adoption of the Charity Law is a milestone in the development of China's philanthropy industry. And it will have a long-term impact," Wang Zhenyao, dean of China Philanthropy Research Inst., Beijng Normal University, said.
Currently only a very small number of organizations are allowed to solicit donations from the general public.
The new law eases the restriction and expands the pool. It also expands the concept of charity.
Besides traditional causes such as poverty alleviation and disaster relief, new ones include promoting cultural, scientific and sports development.
"Including all those who are working for the public good will help to stimulate the initiative of the general public, and create a philanthropic atmosphere," Zheng Gongcheng with Renmin University of China, said.
The law is designed to close loopholes and tackle other problems. Unauthorized groups or individuals are banned from fundraising. The charity must make public how donations are collected and used. There are also regulations on Internet fundraising.
"It's like the Corporate Law first adopted some 20 years ago, which has boosted the economic take-off. The Charity Law will push forward the comprehensive upgrade of philanthropy industry, social and moral development in the coming decades," Wang said.
Protecting the rights of donors and the needy, as well as punishing fraud.It's hoped the legal framework will help build a better society.
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