Singapore: The founding chairman of Yangzijiang Shipbuilding, Ren Yuanlin, has donated US$750m worth of his stocks in the group to Yuanlin Charity Foundation, which helps senior citizens in China.
Ren’s donation to the Yuanlin Charity Foundation is believed to be one of the largest made to date by China’s new generation of business magnates. He donated his 27.83 percent shareholding in Yangzijiang Shipbuilding Group Ltd, which is quoted on the Singapore Stock Exchange. The group was the first privately-owned Chinese enterprise to list on the Singapore exchange and was the first mainland Chinese stock to be offered internationally on the exchange.
