Li Ka-shing vows to donate more funds to aid earthquake survivors

Tycoon Li Ka-shing pledged yesterday to donate more money to help victims of the devastating Sichuan earthquake.

Speaking after the annual general meetings of Cheung Kong (Holdings) and Hutchison Whampoa, Mr Li said he was concerned by the damage and suffering caused by last week's quake.

The Li Ka Shing Foundation donated 30 million yuan (HK$33.6 million) immediately after the earthquake, and the foundation and his companies later donated a further 100 million yuan to set up an education fund. On Wednesday, he said the foundation would reimburse every cent the China Disabled Person's Federation spent on artificial limbs and wheelchairs for quake victims.

Asked whether he would donate more to victims of the quake, he replied: 'If someone tells me anything that can be of any practical use, that the impact can be seen immediately, I will do it.'

Referring to recent media reports alleging that he had only increased his donations in order to seek fame, the usually calm magnate became a little emotional.

'I think I have already transcended this kind of so-called competition,' Mr Li said, adding that he had increased the donations simply because he had learned that more was needed because of the immense scale of the damage.