Central SOEs Set up an RMB350m Relief Fund with China Red Cross

According to incomplete statistics, by 17:00 May 26, 150 central SOEs donated a total of RMB3.207 billion worth of money and relief materials through Sichuan provincial government, China’s civil service authorities and charity organizations such as the Red Cross, and set up a Relief Fund with China Red Cross Foundation.

.On May 27, on behalf of some central SOEs, SASAC donated RMB 353.36 million through China Red Cross to set up a special Relief Fund for the purpose of helping the reconstruction of central SOEs affected by the massive earthquake.

86 central SOEs contributed to the Fund, including 16 contributing over RMB10 million. As planned, half of the funds will be allocated to relevant departments in Sichuan for use in rebuilding the facilities and helping the employees and their families of the affected central SOEs, and the other half will be used for rebuilding 150 schools and 120 township or village medical centers in the quake-stricken areas.