04.29 / 2022
The rapid development of China’s economy has generated a huge number of high-net-worth individuals. Today, most of these “money makers” have known the decrees of Heaven. The risk of inheritance of family wealth is exposed, and how their wealth can be inherited has become a common concern for them. Meanwhile, the massive accumulation of wealth renders them profound thinking on social responsibility and life value.
As the “third distribution” is incorporated into China’s basic institutional arrangements, China will usher in the “third distribution” era, which will inevitably bring about innovations in the concept of wealth inheritance and wealth solutions. In this context, family philanthropy, which can not only effectuate wealth inheritance, but also enhance the social value of wealth, has gradually become a new trend among high-net-worth groups. However, family philanthropy in China is in the early stage of development, and confronted with opportunities and challenges of the new era, it urgently requires more systematic thinking and researches.
“A Guide to Chinese Family Philanthropy” is the first practical book to systematically expound family philanthropy at home, involving laws related to family philanthropy, the establishment and operation of family philanthropy, the planning, implementation and evaluation of charitable projects, the preservation and appreciation of charitable assets, and three tools that currently matter: charitable trusts, impact investing and donor advised fund.
On the basis of absorbing foreign advanced experience, this book is in line with China’s economic, social and cultural environment, and is closely integrated with Chinese family philanthropy practices, which has strong practical guidance for high-net-worth individuals and related practitioners. As an essential way to realize the third distribution and a necessary mode to promote wealth, career and spiritual inheritance, family philanthropy will play a growing role in the era of the “third distribution”.
About the author: The CGPI Family Inheritance Research Group focuses on the charitable spirit and family traditions of high-net-worth individuals to foster charitable actions. Through research reports, translation of foreign materials and model cases, the Group provides high-net-worth individuals with a path for charitable capital allocation and enhance their professional capabilities for effective philanthropy. It is committed to increasing the social value of wealthy people, leading them to actively participate in philanthropy undertaking, and promoting common development and social equity.