BANGKOK -- When the head of a Chinese charity spoke at a conference on Asian philanthropy in June, he struck a positive chord in the ballroom of a Bangkok hotel because of his charity's record of doling out millions of dollars for worthy causes such as supporting poor students. Chinese delegates applauded as Lei Yong Sheng, general secretary of the Lao Niu Foundation, finished his speech. Other Asian delegates lined up at the side of the stage to shake his hand.
The occasion highlighted the groundbreaking role of Niu Genshing, considered the pioneer of charitable giving among China's rising millionaire class. He set up the Lao Niu Foundation in 2004 by donating all his stockholdings and a major slice of his dividends from China Mengniu Dairy, a Hong Kong-listed company he founded in 1999.
