Charitable giving a two-way street for corporations
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I was talking with Yu Liang, CEO of the Vanke Group, in a seminar not long ago, and I felt a deep respect for him.
He said, "You call on billionaires to donate 1 percent of their incomes, but I set a goal for myself to donate 10 percent of my income every year and I will stick to it." He said frankly that given his position and income, he was able to and should make some contributions.
This leads to my question: How should companies build credibility and how should entrepreneurs build dignity?
The wealth of the Rockefellers has been passed down in the US for six generations. What is the most important reason? Many people know of the family and their business, but may not know the mechanism that has maintained the development of their family cause.
The family prospered for generations due to their participation in public welfare and charity. John D. Rockefeller set up the Rockefeller Foundation in 1903 and his grandson set up the Rockefeller Brothers Fund and the Rockefeller Commission. Their public service and charity has benefited the world.
The Rockefeller family has produced two governors, one of whom also became vice president of the US. Therefore, participation in charity and public welfare helped the business and family thrive.
That is why the US currently has over 30,000 corporate and family foundations. Enterprises can establish credibility through public service and charity and entrepreneurs can thus have their own dignity.
At the current stage of China's development, do policies and social environment support the development of corporate citizenship?
There are 670,000 families who hold at least $1 million in assets in China, ranking third in the world after the US and Japan. It shows that China already has the economic base for philanthropy.
In addition, in taxation, State tax laws had major adjustments in 2007.
Enterprises can make tax-free donations and the rate of pre-tax deduction has been increased to 12 percent, which is almost in line with international standards.
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