China's ex-PM donates $6m to foundation

( ) Updated: 2014-12-17 13:17:35

China's ex-PM donates $6m to foundation

A man reads Records of Zhu Rongji's Talks in Shanghai at a bookstore in Shanghai on August 12,2013.[Photo/CFP]

Former Chinese premier Zhu Rongji has donated nearly 40 million yuan ($6.46 million) of all of his books' royalty income over the past two years to a foundation, the Beijing News reported Wednesday.

Zhu Rui, chairman of the board of Practical Education Foundation, told the newspaper that all of the former leader's royalties have been directly transferred from the publishing house to the foundation.

Zhu, 86, created the Practical Education Foundation in January 2013 through sales revenue from his books to help students from poor families and improve teaching facilities in China's less developed regions.

Zhu Rui said the former premier demanded that all of the programs funded by the Foundation be fair and transparent and be operated according to the law.

Zhu's foundation gave out its first grant in August 2013 when it handed out one million yuan to aid education programs in Xiangxi Tujia-Miao autonomous prefecture in Central China's Hunan province.

The money was used to set up a bailout fund for the neediest students, an award fund for outstanding teachers, and to improve students' nutrition and renovate cafeterias in three local schools.

Zhu was China's premier from March 1998 to March 2003. He was noted for launching bold economic reforms of state-owned enterprises and promoting the transition from a centrally planned economy to a market economy.

He has published three books since retirement, which all proved to be popular among the readers.

Zhu said he would donate all of his royalties when his first book, Zhu Rongji Meets the Press, was published in January 2009.

He was among the country's top 100 philanthropists in 2013 for donating 23.98 million yuan ($4 million) in book royalties, according to the wealth publisher Hurun's Philanthropy List.

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