Editorial | Philanthropy centre a perfect fit for city with culture of compassion
- As Hong Kong’s biggest community benefactor, the Jockey Club is ideally suited to boost charities throughout the region and consolidate the city’s position as a financial hub
Not everyone approves of legalised gambling, or is easily convinced that anything good can come of it.
But the reality is that thanks to a monopoly over it, the non-profit Hong Kong Jockey Club is not only the city’s biggest taxpayer and one of its biggest employers, but also its biggest community benefactor, through its Charities Trust.
It is therefore admirably suited to help lead the mission of making the city an international hub of philanthropy.
That is the vision behind the news that the Jockey Club will contribute HK$5 billion in seed money for a charity research institute to promote a culture of philanthropy.
With the world facing a technology revolution, including work-life changing artificial intelligence, philanthropy will have a part to play in channelling private and corporate wealth in socially beneficial directions.
Jockey Club chairman Michael Lee Tze-hau told a conference in Hong Kong the Institute of Philanthropy would become a forum where leaders, philanthropists and key stakeholders could exchange ideas and take part in city, regional and global events.