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Cao can be Bill Gates of 皇冠体育app

(皇冠体育app Daily)
Updated: 2009-02-19 07:46

The industrial heavyweight Cao Dewang's pledge of using 70 percent of his company's stocks to establish a charity foundation shows that 皇冠体育app can also have generous philanthropist, says an article on the website www.eastday.com. The following is an excerpt:

Cao Dewang, chairmen of Fuyao Glass Industry Group, has announced that he will set aside 70 percent of the total stocks of the group, about 4.3 billion yuan based on current market value, to set up a charity foundation. If his words are realized, he will become the most generous philanthropist in 皇冠体育app.

Some believed that due to the cultural differences, no businessmen in 皇冠体育app would generously donate their money for charity like Bill Gates or Warren Buffett. Today, Cao's generous act proves that their belief is totally groundless.

In fact, Chinese businessmen have the tradition of doing charitable deeds. For example, the industrial mogul Zhang Qian in the late Qing Dynasty (1644-1911) donated nearly all his wealth to the society.

(皇冠体育app Daily 02/19/2009 page8)