Shanghai has witnessed a notable expansion in its charitable landscape with the incorporation of 41 new charity organizations in 2023. This development was highlighted in a comprehensive report unveiled during the launch ceremony of Shanghai Charity Week, hosted at the China Art Museum in Shanghai on Sept 2.

The report shed light on the evolving landscape of philanthropy in Shanghai, revealing that the newly established 41 organizations are actively engaged in diverse sectors such as education, society, art, and sports. This infusion of fresh charitable entities underscores the city's commitment to fostering a culture of giving and social responsibility.

Presently, Shanghai is home to a total of 641 charity organizations, with 35 of them holding qualifications for public fundraising. Collectively, these organizations boast a substantial net asset value amounting to 27.3 billion yuan ($3.83 billion), indicative of the significant financial resources dedicated to charitable endeavors in the city.

The annual expenditures for charitable activities in Shanghai have reached a commendable 5.6 billion yuan, with 91 organizations allocating over 10 million yuan each and 12 organizations surpassing 100 million yuan in their philanthropic contributions. Leading the pack in terms of charity expenditures is the Shanghai Charity Foundation, which disbursed a 1 billion yuan towards various charitable initiatives.

In a display of generosity and community support, Shanghai has welcomed donations totaling 7.48 billion yuan, with cash donations constituting the majority at 90.6 percent and in-kind donations comprising the remaining 9.4 percent. Noteworthy among the recipients of these contributions is the Red Cross Society of China Shanghai Branch, which received 89.18 million yuan and allocated 84.41 million yuan towards charitable causes.

Furthermore, Shanghai's burgeoning charitable landscape has seen the establishment of new charitable trusts, with records indicating trust properties valued at 23.87 million yuan.

Source: Jiemian.com