The annual publication of the list of China's top 100 philanthropists is a yardstick the general public uses to measure the wealthy's benevolence.

The list has been appearing since 2004. A companion publication ranks the 50 top enterprises in social responsibility.

The individual philanthropists on the list donated a total of 9.5 billion yuan ($1.2 billion) in the four years starting in 2003.

The philanthropist who tops the list remains 85-year-old Yu Panglin. He has donated 80 percent of his wealth to help cataract suffers regain their eyesight. What is noteworthy is the fact that he is not as well known as many other entrepreneurs who donate much less or not at all.

The cause of philanthropy is progressing in China. More of the rich people are aware of their responsibility to use their wealth to contribute to social progress.

Yet, the increase in donations lags far behind the increase in both personal and company wealth. Statistics indicate that 99 percent of enterprises have never made a philanthropic donation.

In striking contrast, the consumption of luxury products such as fancy limousines and villas is rapidly increasing.

Numerous exhibitions of luxury goods were held in Shanghai, Shenzhen and Guangzhou last year. Sales reached billions of yuan in just a few days. It is estimated that the country has become the third largest consumer of luxury goods.

In comparison, the total sum of money donated by the country's philanthropists is less than the sum donated by a single person in some developed countries.

The annual publication of the list of China's leading philanthropists serves as a significant reminder to the wealthy that it is a virtue to give generously. In the same way, the list of enterprises that have shown outstanding social responsibility reminds business leaders that giving back to society is as important as making money.

Just as China's individuals and businesses need to develop a greater sense of philanthropy, our laws must encourage giving for the public good. The law giving tax benefits for individual and corporate charitable donations is being drafted. Hopefully, it will go into effect this year.

(China Daily 04/12/2007 page10)