‘It’s harder to donate money to Chinese charities than earn it,’ says Alibaba billionaire Jack Ma
Mainland philanthropist - criticised for not giving money to help victims of August's blasts in Tianjin - says entrepreneurs should make good investments and 'blind donations' do no good
Chinese billionaire Jack Ma Yun, chairman of e-commerce company Alibaba, believes donating money on the mainland is harder than earning it.
Charitable organisations have often been criticised for being inefficient and a lack of transparency in the way they are run.
The primary responsibility of entrepreneurs is making good investments to create jobs and wealth – blind donations will do no good
“The primary responsibility of entrepreneurs is making good investments to create jobs and wealth – blind donations will do no good,” he told students at Peking University in Beijing on Tuesday.
Chinese business leaders and celebrities rallied to donate money in August to support the rescue efforts.
However, when it was pointed out online that Ma had not announced any intention to donate money, his Weibo account was flooded by tens of thousands of critical comments.