On May 8th, the Hurun Research Institute released Hurun Philanthropy List 2018, a ranking of top 100 most generous Chinese philanthropists. He Xiangjian, the 76-year-old founder of Midea Group becomes the most generous philanthropist in mainland China with a donation of 7.5 billion yuan. He is also the fourth philanthropist with a single donation of more than 1 billion dollars.

He Xiangjian, founder of Midea Group

In July last year, He Xiangjian donated 100 million shares of Midea Group and 2 billion yuan to HE Foundation where he serves as the honorary chairman in order to facilitate the development of charities in diverse fields such as targeted measures in poverty alleviation, education, medical care, innovation and entrepreneurship and cultural heritage. He Xiangjian has been on the Hurun Philanthropy List for 10 times with a total donation of nearly 10 billion yuan.

The Hurun Research Institute stated that the model of the “charitable trust plus foundation”used by He Xiangjian serves as an exemplification in the promotion of carrying out large donations in China and the sustainable development of private foundations.

It is reported that it was the 15th year for Hurun Research Institute to release Hurun Philanthropy List . According to the Hurun Philanthropy List 2018 , total donations of 100 most generous philanthropists in mainland China have risen by 28% compared with last year and have reached 21 billion yuan.

Hu Run said, "the amount of total donations has risen dramatically this year. The average donations this year is ten times of that of the first Hurun Philanthropy List released 15 years ago."

In addition, the number of Guangdong businessmen on the list this year has increased by 4 compared with last year, ranking first with 21 people.

(Gary)