Chapter 233 On November 20, use American money to do Chinese charity

I use American money to run education in China, and the same goes for charity.My words also have a deeper meaning. If China's education and philanthropy are to go international, they must learn to use international capital.I feel that I have the ability to bring international celebrities and educational institutions to China to engage in charity work. During the Spring Festival in 2007, Yu Minhong reduced his shareholding in New Oriental in New York—more than 1 million ADSADS. Fundraising in the United States, and do not want to be bound by the rules of the US stock listing, so this workaround is adopted, a part of the stocks in other places are collected and sold in the US market, and traded on the exchange. , Cashing out more than 50 million US dollars (equivalent to about 400 million yuan in RMB), this is the first large-scale wealth Yu Minhong has obtained from New Oriental since he started his business.He used the money to set up an educational charitable foundation in Hong Kong, which was operated by specialized personnel, banks and trust institutions.

The purpose of the Hong Kong New Oriental Charity Foundation is to provide funding for the education of poor students in mainland China, including tuition and living expenses. During the "two sessions" in 2007, Yu Minhong, a member of the National Committee of the Chinese People's Political Consultative Conference, suggested to Premier Wen Jiabao that China should legislate as soon as possible to allow private individuals to set up charitable foundations. On June 12, 2007, the "Chinese College Students New Oriental Self-improvement Fund" project invested by New Oriental with 50 million yuan was established in Beijing.New Oriental will invest 5 million yuan every year for 10 consecutive years to provide awards, bursaries and condolences to outstanding economically disadvantaged students in colleges and universities across the country, and to carry out inspirational activities for college students with financial difficulties, and to fund other projects to help college students with financial difficulties. "New Oriental Self-improvement Fund" is the first project of the "May 4th Award Fund for Chinese College Students". The fund is sponsored by the Central Committee of the Communist Youth League and the All-China Student Federation. It encourages students from families with financial difficulties to be self-reliant and self-reliant, promotes the development of young students, guides and encourages young students to strengthen their ideals and beliefs, demonstrate social responsibility, improve their overall quality, and grow into outstanding talents for the construction of the motherland.

After the "New Oriental Self-improvement Fund" was established, the Fund Management Committee was formed by the Central Committee of the Communist Youth League, the All-China Student Federation and New Oriental to be responsible for fund management, project execution and event promotion; Form a fund supervision committee to be responsible for the supervision of the use of funds.The projects funded by the fund will be determined by the Central Committee of the Communist Youth League, the All-China Student Federation and New Oriental through consultation. In the future, the diversification of value demands of Chinese enterprises and the heterogeneity of social structure will continue to be highlighted, and the awareness of social responsibility will accompany enterprises more and affect their overall business behavior.