BEIJING, April 18 -- A complete set of laws and regulations must be put into place to encourage more rich people to join China's philanthropic sector, says an article in Nanfang Metropolis Daily. An excerpt follows:

    The much-expected 2005 China Philanthropy List, compiled by Rupert Hoogenwerf, the foreigner who founded the China Rich List in 1999, was released on April 11 with much fanfare.

    Yet ironically, many included in the Forbes Rich List do not appear to be philanthropists.

    Being charitable is part of Chinese history and it is embodied in all leading ideologies, such as Confucianism, Taoism and Buddhism.

    And one can find ample examples of givers in China's history books.

    Problems concerning credibility and transparency also exist in some Chinese charities.

    Therefore, people do not want to give away money for fear that their donations will not reach the poor but be squandered by "charities in disguise."

    In many countries legislation encourages those who do charitable work by granting them tax breaks or exemptions, while China's legislation offers no such incentives.

    This being the case, many Chinese millionaires are discouraged from wanting to join the philanthropy list.

    (Source: China Daily)