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US magazine Forbes announced last Tuesday that it will cancel the China Philanthropy List this year and gave no timetable for resumption.

Forbes compiled its first China Rich List in 1999, the first of its kind in China, and has released the China Philanthropy List annually since 2004.

Ms. Zhang Xiaohua, marketing director for Forbes China, attributed the cancellation to the immaturity of charity in China, Chongqing Business News reported.

"Chinese entrepreneurs haven't reached a consensus on charity and therefore it is immature to make such a list," she said.

Traditionally, Chinese people don't want to show off their wealth, so entrepreneurs seldom publicize their donations.

Rupert Hoogewerf, a former Forbes employee and the first creator of the China Rich List, said such a cancellation is reasonable but his company will not follow suit.

Hoogewerf's company released China's 100 most generous persons last month (see Table 1), but many Chinese billionaires are not on the list.

Table 1

2007 rank	name	'03-07 Donations US$'000	causes	company
1	Yu Pengnian	260,000	Health, higher education	Pengnian Industries
2	Zhu Mengyi	140,000	Education, health	Hopson Development
3	Niu Gensheng	85,000	Social welfare	Mengniu Group
4	Huang Rulun	83,000	Education, poverty, health	Jinyuan Group
5	Yang Lan & Bruno Wu Zheng	72,000	Education, and cultural undertakings	Sun Television Cybernetworks
6	Chen Dexun	46,000	Sports	Mog-Log Indusrty Group
7	Li Shufu	36,000	Education, social welfare	Geely Group
8	Duan Yongping	33,000	Education, disaster relief	Bubugao Group
9	Huang Nubo	24,000	Sports, social welfare	Zhongkun Group
10	Yang Xiu	17,000	Education, social welfare	Tiandi Group

(Source: Hurun.net)

Hoogewerf admits that the donations of Chinese rich people are quite different from their foreign counterparts. "At least half of them make donations to certain social projects or through their own foundations, so it is difficult to get accurate figures, and furthermore, many commodities are usually calculated," he said.

Some Chinese billionaires, on the other hand, disagree with what Forbes says, claiming they are actually trying to contribute more to charity. Xue Fangquan, board director of Chongqing-based Min Sheng Energy Group, also pointed out that they will help those in need regardless if such a list is available or not.

Liang Xiaomin, a well-known economist in China, believes Forbes made the correct decision. The majority of Chinese entrepreneurs should give priority to their technological innovations and company expansions before considering charity, he said.

(China.org.cn by Tang Fuchun May 14, 2007)