China's Philanthropist

In a new China largely preoccupied with getting and spending after decades and perhaps centuries of poverty, Yu Panglin, an 87-year-old real estate developer and hotelier, stands out as a welcome anomaly. Yu, according to a publication called th Hurun Report, is the most generous philanthropist in China, with 2007 donations totaling US$420 million, more than double the US$158 million given by Zhu Mengyi, a real estate developer, in second place. Yu has given HK$20-30 billion to charity, including schools, universities, hospitals, disaster relief and a program that has provided free cataract operations to 138,000 poor people.

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