New generation of philanthropists hit a new high for donations to charity

Tencent chairman and chief executive Ma Huateng topped the list of China's 100 most generous philanthropists last year, as he promised to donate 100 million shares of Tencent stock, equal to 16.985 billion yuan ($24.75 billion), according to a new report.

The report, released by the China Philanthropy Research Institute of Beijing Normal University and Shenzhen Global Philanthropy Institute in January, listed a hundred Chinese donors who together donated a total of 37.9 billion yuan, hitting anew high.

The list highlighted 100 philanthropists who have each donated more than 15 million yuan, and 66 of them appeared on the list for the first time. The selection benchmark of 15 million yuan was also a new high, the report said.