Keyword: Charitable Trust

“Measures for the Management of Charitable Trusts” released

The China Banking Regulatory Commission and the Ministry of Civil Affairs (MCA) have jointly issued the “Measures for the Management of Charitable Trusts” (MMCT), marking the basic establishment of the regulatory system for China’s charity trusts. The official news briefing by the MCA explains that the regulation was released “in order to implement the Party’s central strategy, standardise charitable trusts, protect the legitimate rights and interests of charitable trust parties, and promote the development of philanthropy”. The “Charity Law”, which was passed in the fourth meeting of the 12th National People’s Congress, dedicated one chapter to charitable trusts, demonstrating the importance of the trust system in the development of philanthropy …read more