The COVID-19 outbreak sparked a huge rise in private philanthropic giving by billionaires and private company charitable foundations in China, with a substantial amount going towards research and development of vaccines, antiviral drugs and treatments being developed by scientists throughout China but particularly at elite universities and research centers.
A research report, Pandemic Philanthropy by Bridge Consulting (Beijing) Co. Ltd., calculated that some CNY1.8 billion (US$279 million) was contributed to research and development in China in the first half of 2020 after a strict lockdown was declared on 23 January 2020 in Wuhan, where the virus is thought to have originated.
"For the first time China's billionaires, companies, and foundations have turned their charitable attention to scientific endeavors, recognizing the potential for such investments to have a transformative effect on public health and society," the report says.
Funds were directed to top research groups at the Chinese Academy of Sciences, the Chinese Academy of Engineering, as well as universities and research groups of renowned scientists.
From University World News
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