The founder of Midea Group do­nates nearly $1 bil­lion to pro­mote projects

China Daily (Hong Kong) - - BUSINESS - By QIU QUANLIN in Guangzhou qi­uquan­lin@chi­

A Chi­nese bil­lion­aire busi­ness­man plans to do­nate 6 bil­lion yuan ($892.7 mil­lion) to sup­port char­i­ties and help com­bat poverty by pro­mot­ing na­tion­wide projects.

He Xiang jian, founder of Midea Group, will place 100 mil­lion pri­vately owned shares, worth about 4 bil­lion yuan, into a fund, as well as 2 bil­lion yuan in cash.

“The do­na­tion plan will meet char­ity de­mands from all sec­tors of life,” said Wang Yueyun, sec­re­tary-gen­eral of the He Foun­da­tion, which was set up nearly four years ago.

At age 75, He is one of the elder states­men of the busi­ness world af­ter start­ing up a small plas­tics fac­tory in 1968 in the Shunde dis­trict of Foshan in Guang­dong prov­ince.

By 1980, he started manu-

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