Quotable

"Most of the existing charity organizations in China are run by government agencies. I don't like them. It seems like you have to beg them for an opportunity to donate. I no longer trust these government-run charities."

Huang Nubo, chairman of Beijing Zhongkun Investment Group, explaining why he decided to donate half of his wealth to Peking University, his alma mater, instead of a government-run charity, in 10 years. The 56-year-old entrepreneur made a donation of 900 million yuan ($141 million) worth of assets to Peking University in June.