Philanthropy Institute established in Zhejiang
Zhejiang Gongshang (Industry and Commerce) University (ZJSU) received RMB350m (USD55m) from Zhongjing Xinhua Capital Management company (ZXCM) with the objective of establishing a philanthropy institute to offer Bachelor and Master degrees, even PhDs in philanthropy.
The donation was made by the President of ZXCM GAO Yang, an Austrian citizen and son of a 1959 ZJSU graduate.
Shandong Industry and Commerce University has started offering Philanthropy Studies under its Social Security degree. Beijing Normal University, Zhuhai Campus was the very first Chinese university to offer a degree course in philanthropy in 2012. However, the university terminated the program due to a merger in 2020.