CHINA-ECONOMY: CHINA EASES HITHERTO STRINGENT REGULATIONS ON CHARITABLE DONATIONS
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Caixin (December 26)) reported that China’s NPC is expected to revise the Charity Law in an effort to loosen overly stringent regulations governing online donations that threaten to throttle the fast-growing practice. In recent years, Online donations in China in recent years have jumped by 68% from the year before exceeding 5.4 billion yuan ($826.4 million) in 2019. However, loopholes in regulating money donated via online platforms resulted in high profile scandals involving fake fundraising drives.
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