CHINA Chinese charities required to disclose information


Chinese charities required to disclose information


14:56, August 09, 2018

China's Ministry of Civil Affairs has unveiled a regulation requiring charities to disclose information in accordance with the law.
According to the regulation, which will go into effect September 1, charities should provide factual information to the public on the provided website in a complete and timely manner.
Information required to be disclosed includes charity groups' yearly work and financial accounting reports, major asset changes, transactions and investments, public funding, and other charity projects, said the rule.
"Any false records, misleading statements, or major omissions in the information disclosure are not allowed," it said, adding that charitable organizations are responsible to disclose the information.
Charities eligible for public fund-raising should also release the budget of their expenditures for overseas trips, vehicles, and accommodations, among other items.
Charities that fail to disclose information in a timely manner or disclose false information can be reported to civil affairs authorities by any organization or individual, the regulation said.

The Charity Law, on which the new regulation is based, took effect on Sept. 1, 2016, and stipulates that charity groups in China must disclose information to the public.

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