The Chinese property firm gave HK$1.8 billion to good causes last year, while overall philanthropic activity by listed companies increased from the previous year
Property firm China Evergrande was the most charitable of Hong Kong’s listed companies in 2016, beating out last year’s top donor HSBC, according to a report on Thursday, which also showed an overall rise in philanthropic activity by listed firms.
Evergrande, whose chairman Xu Jiayin was named China’s richest man on Thursday by the Hurun report, donated HK$1.8 billion (US$230 million) to charitable causes in 2016, according to the Sodata Analytics Foundation Association, a body which tracks donations by all listed main board companies in Hong Kong. HSBC, which donated the most last year, gave HK$1.06 billion this year.
In all, Hong Kong companies listed on the exchange’s main board donated HK$12.8 billion in 2016, an increase of 24 per cent from the previous year.
“The increase in giving took place even though economic activity and the profitability of Hong Kong listed companies slowed last year,” said Michael Yip, one of the founders of Sodata Analytics, at a press conference.
