Government wants charities to disclose finances | Shanghai Daily

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Government wants charities to disclose finances

CHINA'S Ministry of Civil Affairs is drafting a rule to regulate financial disclosure of charities, today's The Beijing News quoted a ministry official as saying.

Liu Youping, vice dean of the ministry's China Charity Donation Information Center, told the newspaper the center is researching the issue to help draft the rule.

Liu declined to disclose more details.

Yesterday the center published a report on the financial disclosure of charities.

The report said only 12 of the 28 organizations licensed to receive donations for the May 12 earthquake had published their financial status on their Websites, including donations and payments.

Only 29 of the 82 national charity organizations, including China Charity Federation and Chinese Red Cross Foundation, published their yearly financial reports on their Websites. Six organizations have no Websites at all.

Charity organizations have come under fire recently for their concealed financial status after research indicated nearly 80 percent of the donations for the May 12 earthquake had gone into the governments' accounts, becoming a new government revenue source after taxes.

The half-year research, by scholars from Tsinghua University's economic management school, concluded 7.6 billion yuan (US$1.11 billion) had been donated nationwide for the earthquake.

Nearly 60 percent was directly sent to governments, and about 30 percent was donated to public charity organizations including the Red Cross, but finally handed over to governments.



 

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