FORBES China won't publish a domestic philanthropy list from this year, eight years after it kicked off listing the country's richest people.

From 2004, Forbes published the country's first philanthropy list and has issued three lists.

However, since most domestic billionaires keep a low profile and are not willing to publicize their donations, it is difficult to obtain the accurate statistics, said Zhang Xiaohua, the marketing director of Forbes China, as quoted by the Chongqing-based Economic Times.

"We think domestic entrepreneurs haven't reached consensus on charity affairs, and the current atmosphere is not mature," Zhang added.

Overseas donations are always transparent, but domestic entrepreneurs are not willing to disclose the amount, Zhang said. She also refused to give out a time schedule for the restoration of the list.

Rupert Hoogewerf, a former Forbes China employee who established his own luxury business listing company — Hurun Report — in Shanghai, won't follow suit, though he thought Forbes's decision is reasonable, according to the newspaper.

He said China's richest people made their donations in a totally different way from their overseas counterparts. At least half of the philanthropists don't donate their money via charity organizations, but invest in some social projects they are willing to support or even establish their own foundations, Hoogewerf said.

Though he had 100 domestic entrepreneurs on his list, still a lot of well-known tycoons are not there, he said. Nevertheless, calculation for overseas donations are only based on cash, but in China's mainland, properties are also included, he added.

Hurun Report released its fourth annual philanthropy list last month.

Source:佚名