Society

Website to promote charities' transparency

By Uking (chinadaily.com.cn)
Updated: 2010-07-09 14:43

China Foundation Center (www.foundationcenter.org.cn), a database offering comprehensive information about China's charity foundations, had its launching ceremony in Beijing on Thursday as financial transparency becomes a major concern of contributors in China.

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Thirty-nine leading foundations in China, including China Youth Development Foundation, Chinese Red Cross Foundation and Wu Zuoren International Foundation of Fine Arts, initiated the program to promote transparency and accountability in China's fast-growing foundations sector.

Those who register on the website can search the database and access information, such as annual work reports, financial statements, charity projects and events, and organization structure of the foundations.

Wang Zhenyao, head of the public welfare academy at Beijing Normal University, said the website means the transparency level of China's welfare societies has entered a new stage.

Xu Yongguang, secretary general of Narada Foundation, which mainly focuses on the problem of education for migrants, also thought the website can help the public supervise the foundations' operation and help the government strengthen management.

China had its first public fundraising organization -China Children and Teenagers' Fund in 1981, and by the end of 2009, there were 991 public and 846 private foundations. Each year there is an increase of 200 new private foundations, making it a major player in society. However, it was reported that only 30.4 percent of public foundations release their annual reports and those disclosing financial statements account for only 28 percent.