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China's new luxury

Chinese philanthropy: Bill Gates and Warren Buffett have star power, but even they may struggle to persuade China's billionaires that celebrity philanthropy is a must. Chinese billionaires feel insecure about their wealth, and trustworthy charities are lacking. Still, as China's wealth gap widens, the super-rich should start thinking up ways to look more generous. The Middle Kingdom is home to more dollar billionaires than anywhere except the United States, according to Forbes. But charitable giving accounted for only 0.1 per cent of China's GDP in 2009, versus two per cent in the United ...