According to the official website of the China Foundation Center, the founding of the Yibang Philanthropy Foundation in Beijing on the 8th of July 2016 marks the establishment of China’s 5000th foundation. Statistics issued by China’s Ministry of Civil Affairs show that there were 1144 foundations in China by the end of 2006, meaning that the majority of these 5000 foundations have been established within the last decade.
Looking at the foundations’ geographic distribution, Beijing now has 598 foundations, ranking second only to Guangdong Province within China. On the other hand Beijing ranks top for its foundations’ public transparency level with a score of 72.63, far higher than the national average of 51.36.
The establishment of the Yibang Philanthropy Foundation is also a good example of how an increasing number of enterprises are focusing on philanthropy. The newly established organization is a private foundation affiliated with the Yibang Holding Group. The Foundation aims to conduct philanthropic projects concerning poverty alleviation, educational development in poor areas, and the promotion of traditional culture. It is hoped that the attention paid to philanthropy will drive China to a new phase when philanthropy brings benefit to society in return.
