The Youchange China Social Entrepreneur Foundation held the ninth meeting of its second council on July 8 in Beijing, during which a deliberation on the operating scheme and fiscal budget of the Social Value Investment Association (SVIA) was passed. The foundation has announced that it will invest over ten million yuan to support the operation and development of the SVIA during the next three years.
The Chairman of Youchange Wang Ping first proposed the concept of “Social Value Investment” in 2013, explaining it as an attempt to bring together profit and the public good in order to build a more just, effective and sustainable society. Since September 2014, Youchange has been working together with dozens of institutions, including the China Development Research Foundation and the Philanthropy and NGO Support Center, to build the SVIA. In May this year the association received its certification through the Civil Affairs Bureau of Shenzhen city.
During the meeting Ms. Bai Hong, the Secretary General of SVIA, reported on its operating scheme to Youchange. The vice chairman of Youchange, State Department Counselor Tang Min, who took the lead in writing a blue book on the China Social Value Investment Report, advocated that the originating institutions should co-finance the SVIA in order to promote its development. Chairman Wang Ping extended his appreciation to Youchange’s council for their big support it has given to the SVIA, and expressed his desire that the member institutions positively engage in the SVIA’s activities.