File photo of Jack Ma, the founder and executive chairman of e-commerce giant Alibaba Group. Ma has been named China's No. 1 philanthropist in the latest ranking by China Philanthropic Times.
(ECNS) - Jack Ma, the founder and executive chairman of e-commerce giant Alibaba Group, has been named China's No. 1 philanthropist in the latest ranking by China Philanthropic Times.
Internet entrepreneur Ma has donated 12.4 billion yuan ($2 billion). The ranking listed 199 entrepreneurs, whose donations totaled around 21.9 billion yuan.
The list also included 360 companies with total combined donations of 5.43 billion yuan.
Other awards were also given out, such as the Annual Philanthropists of the Year, Annual Philanthropic Companies of the Year, and Special Contribution Awards.
China Philanthropic Times initiated the China Charity Ranking in 2004. Previous annual donation totals were around 10 billion yuan, so this year's figures showed a significant improvement.
Chinese entrepreneurs are increasingly leaning toward philanthropy, a trend that can help improve social mobility and justice, according to Liu Jing, the president of China Philanthropic Times.
