Gates, Buffett: China visit aims to share philanthropic experiences
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Bill Gates and Warren Buffett said on Tuesday that they would come to China later in the month to share their experiences on philanthropy, denying speculation that they would pressure people to give.
"Some people have wondered if we're coming to China to pressure people to give. Not at all," the two richest Americans told Xinhua in a response letter on the banquet for Chinese billionaires sponsored by them, which is scheduled for Sept. 29.
Amid concerns that the two big shots -- who initiated "The Giving Pledge" project in June to persuade U.S. billionaires to give most of their wealth to charity -- would pressure wealthy Chinese to donate, only a small number of Chinese businessmen had accepted as of last week the invitation to the banquet, which caused a stir about the willingness of China's rich to give.
Gates and Buffett explained in the letter "one part of that trip we are looking forward to is the opportunity to sit down with a number of successful business people and philanthropists to learn about philanthropy in China and to share some of our own experiences about the impact giving can have on society and our world."
They said they know that the Giving Pledge is just one approach to philanthropy, and do not know if it's the right path forward for China.
"Our trip is fundamentally about learning, listening, and responding to those who express an interest in our own experiences. China's circumstances are unique, and so its approach to philanthropy will be, as well."
They said the present generation of successful entrepreneurs has an opportunity to set an example for the nation's future generations, and it is very likely they will have a big impact on the growth of philanthropy in modern China.
A deep-rooted concept among wealthy individuals in China is to leave their entire fortunes to their descendants, which might be a major obstacle to charities attracting donations, according to Zhang Yinjun, spokesperson with one of China's largest charity organization, the China Charity Federation.
Zhang Jing, spokeswoman of the Bill and Melinda Gates foundation Beijing Representative Office told Xinhua one week before that the office had difficulties in confirming the attendance of others in the select group of about 50 wealthy individuals, as many still hesitated.
Zhang Jing said that the office did not intend to invite the richest 50 on the wealthy list, but selected wealthy people who had shown an interest in philanthropy.
Gates and Buffett said in the letter "Of course, there is noteworthy philanthropy going on at all levels of society in China, not just among the very fortunate."
They even used an old Chinese saying "Remember what you have received. Forget what you gave" to call on people to do what they can.
They also showed enthusiasm and optimism over China's charity cause. "As it has done in so many other ways, China will surprise the world in its embrace of philanthropy."
The Chinese billionaires who have confirmed their attendance to the banquet include Chen Guangbiao, China's most famous philanthropist and CEO of a resources recycling company in eastern Jiangsu Province, and Zhang Xin, CEO of SOHO China, China's leading real estate developing company.
According to Hurun Wealth Report 2010, China has 55,000 billionaires.
Chen posted an open letter on the company's website, pledging he would donate all his wealth to charity when he leaves this world, in a move to "welcome" Gates and Buffet's charity meeting in Beijing.
In his letter, Chen also said he had so far made charitable donations worth 1.34 billion yuan (197 million U.S. dollars) over the past decade. In 2009 alone, he donated 313 million yuan, accounting for 77.6 percent of his company's profits that year.
"If Gates and Buffett's visit and banquet could change the way Chinese billionaires handled their fortunes, that would be a good start to encourage more people to donate to society," Zhang Yinjun said.
