Hong Kong's super-rich are jumping onto the philanthropy bandwagon, but are they backing worthy causes?
Philanthropy becomes a growth industry as the current generation of billionaires feel the pressure of age and need to preserve their legacy.
"World civilisation" - those were the buzzwords that caused a stir on the philanthropic scene recently when Hong Kong property tycoon and casino owner Lui Che-woo dangled an eye-popping award to honour contributors to such a cause.
With the launch of his HK$60 million annual award, the tycoon joined the ranks of mega-philanthropists in the city. It follows last year's high-profile gift of more than US$350 million by property tycoon Ronnie Chan Chi-chung's family foundation to Harvard University.
READ MORE: Ronnie Chan takes charity through the roof of Harvard
The fast-expanding benefactor bandwagon in the city is reflected in a recent UBS/PwC 2015 Billionaire Report that forecast an unprecedented wave of philanthropy, with the current generation of billionaires reconciling themselves with ageing and the need to preserve their legacies.
In Hong Kong, with its long history of wealthy families setting up philanthropic foundations, a pertinent question is whether the city's super-rich have put their money to good use rather than for "conscience laundering", in the words of Peter Buffett, son of US magnate Warren Buffett.
According to Coutts Million Dollar Donors Report 2014, which compiles donations in excess of US$1 million, almost half of the annual charitable giving from Hong Kong, totalling more than HK$7.3 billion in 2013, was from foundations. Higher education and religion enjoyed the biggest slices of the donation pie.