Forbes releases 2020 China Philanthropy List

FOSHAN,China,July 25,2020 -- Country Garden founder and chairman Yang Guoqiang and his family were China's second most generous providers of charitable cash donations in 2019 according to the 2020 China Philanthropy List released by Forbes China on July 23,with the founder and family having given 1.52 billion yuan (approx. US$218 million). This is the 12th time that the Yang Guoqiang family has been included in the list,reflecting his continuous contributions to worthwhile causes.

Forbes releases China Philanthropy List,the Yang Guoqiang family comes in second with total cash donations of US$218 million

This is the 14th time that the list has been released. The list is compiled based on the cash donations of individual and corporate donors in China during 2019 and combines the donations from company owners and the companies they own and operate.

The list,comprising 100 business owners and the firms they own and operate,represented 17.91 billion yuan (approx. US$2.57 billion) in cash donations this year,down slightly from 19.17 billion yuan (approx. US$2.75 billion) recorded last year. It marks the fifth time the value of cash donations exceeded 10 billion yuan (approx. US$1.4 billion) after 2011,2017,2018 and 2019. Of all donors on the list,35 donated at least 100 million yuan (approx. US$14.3 million),totaling 15.09 billion yuan (approx. US$2.16 billion).

Since the first large donation in 1997,the Yang Guoqiang family,Country Garden Group and GuangdongGuoqiang Public Welfare Foundation have donated in the aggregate some 6.7 billion yuan (approx. US$960 million) for poverty alleviation,vocational education,teaching and scientific research. In August 2019,construction of the Linxia Guoqiang Vocational - Technical School was started following a donation of 300 million yuan (approx. US$43 million) from Country Garden. The school has begun to recruit students. Students from underprivileged families will enjoy a waiver of all tuition fees and living expenses.

At present,Country Garden launched poverty alleviation projects in 57 counties across 16 provinces and helped 337,000 underprivileged individuals from 14 counties across nine provinceswith direct assistance.

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