Billionaire denies allegations made in Caixin report

Controversial philanthropist Chen Guangbiao denied on Friday allegations questioning of his charitable giving and that he had undergone a gastrectomy to trim down to promote his weight-loss products.

The 48-year-old billionaire claimed he had made donations of more than 2 billion yuan ($300 million) and helped more than 700,000 poor families by 2012.

A Caixin magazine report earlier this week said that Chen has given away 20 to 30 million yuan of his own money at most.