Venture Philanthropy gains new ground in China

20141024_194251Chinese Premier Li Keqiang mentioned in his parliamentary address that venture philanthropy should be adopted by local governments in China to provide support for early stage social organisations. In his speech on the innovation of the social sector, he spoke about the need for transparency, revamp of the tax system, and also for the sector to monitor and discipline itself.It appears that AVPN will have our work cut out for us in the months ahead for China. On our most recent trip to Beijing and Shanghai, our chairman and vice-chair addressed a community of government representatives, foundation leaders and finance professionals on the role of venture philanthropy and the importance of tri-sector collaboration.AVPN member CreditEase launched the China Initiative for Social Finance with Beijing Normal University at the event. A full report in Mandarin is available here.Other members are also actively involved in the China Social Enterprise and Investment Forum (CSEIF), which count the Social Enterprise Research Center, Narada Foundation, Beijing United Charity Foundation, Leping Foundation, Non Profit Incubator, as their founding members. The forum, formed by a loose alliance of progressive foundations, was launched in September 2014 and will seek to form a bridge between social organisations and investors, whilst providing training, resources, and advocacy for the social investing sector in China.AVPN regularly travels to China, amongst other member countries, to link up with our membership base. Check our events page for updates.