兹金矿业

UNCHARITABLE QUESTIONS GREET TYCOON'S GIVEAWAY

The Chinese public and state-controlled media could be expected to welcome the founding of the country's largest-ever private charity by one of its wealthiest business tycoons.

But when Chen Fashu, the 15th richest man in China this year, with a personal fortune of about $3.7bn, announced last week he would donate roughly Rmb8.3bn ($1.2bn, €821m, £744m) to his new charitable foundation, state media responded by questioning his motives.

Even the People's Daily, the designated mouthpiece of the Chinese Communist party, suggested the charity might be used to evade a possible tax investigation and questioned whether the funds would all be used for charitable causes.

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