Charity begins with $5b from HKJC

People from all walks of life came together to help in the aftermath of the record-breaking black storm last week, proving that the city has the potential to become an "international philanthropic center, Chief Executive John Lee Ka-chiu said.

Speaking at the opening of the two-day Philanthropy for Better Cities Forum organized by the Hong Kong Jockey Club yesterday, Lee said he was moved when he saw people in the community helping each other as many were affected by road blockage caused by flooding and landslides.

"I was moved by the fact that volunteers, community leaders, civil servants, our district care teams, as well as different NGOs have promptly risen to the challenge, by lending their helping hand to those affected, and assisting to clean up our streets and roads," Lee said.

"The compassion and generosity of our community is heartening and vital to our rise as a charitable hub."

Lee also said the public and private sectors have worked together to tackle such socio-economic issues.

"Yes, Hong Kong has the potential to become a major international philanthropic center. Benevolence aside, it is also thanks to our world-class financial services sector. We offer an abundance of professional services, tools and resources for philanthropists to channel to social initiatives," Lee said.

In the forum yesterday, the Jockey Club announced the establishment of the Institute of Philanthropy - which it will provide HK$5 billion as an initial sum.

Jockey Club chairman Michael Lee Tze-hau said: "We aim to establish the institute as a dependable source of philanthropic knowledge and to leverage its resources to strengthen the professionalism of funders in the Hong Kong SAR, nationwide, throughout Asia and beyond by providing sector-wide infrastructure and standards development. This in turn will support and complement the HKSAR government's policy priorities, as well as contribute to national development."

The institute aims to become a global "think-fund-do" tank for China and Asia, the Jockey Club said. And will be dedicated to promoting philanthropic thought leadership at local, regional and global levels together with fellow foundations, philanthropic stakeholders and other institutions. It will focus on four aspects: connecting and convening; synthesizing and sharing; building professional capacities; and commissioning and supporting research. It will also work to consolidate and disseminate knowledge as well as co-create and co-fund projects.

Its inaugural event, the Foundations Circle, will be held tomorrow at Tai Kwun, gathering over 50 global foundations to explore collaborative efforts.

"Hong Kong is determined to play an increasingly important role in advancing philanthropy and the social impact it can make. We want to create a fairer society for everyone," Lee said.

"The establishment of the Institute of Philanthropy will, I am confident, go a long way towards realizing the HKSAR government's goal of building Hong Kong into a leading international center for philanthropy," he added.