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China sets spending standards for charitable organizations

Xinhua, August 25, 2016 Adjust font size:

China has moved to set standards for the philanthropic spending and administrative expenses of charitable organizations, and told them to publish the two items in detail.

Any foundations, social groups and social service providers qualified to initiate public donations should spend at least 70 percent of their revenue from the previous year, according to the set of standards released Thursday by the Ministry of Civil Affairs for soliciting public opinions until Aug. 31.

Meanwhile, the administrative expenses of a charitable foundation supported by public donations could not exceed 10 percent of its annual spending, while the maximum quota is 13 percent for other authorized social groups and social service providers, said the regulation.

"Charitable organizations should effectively use their funds, practise austerity and avoid unnecessary expenses," said the regulation.

The regulation also set public spending and costs standards for charitable organizations that are not qualified for public donations, based on their annual net assets.

Detailed spending and costs must be publicized in the annual reports of all charitable organs, it said. Endi