BEIJING, Nov. 10 (Xinhua) -- Chinese Premier Li Qiang has signed a State Council decree promulgating revised regulations on the management of foundations.
The revised regulations, which consist of 79 articles in eight chapters, will take effect on Jan. 1, 2027.
The regulations aim to strengthen the credibility of foundations and promote their sound and orderly development.
They stipulate that foundations engaged in public welfare activities must follow the principles of legality, voluntariness, good faith, openness, transparency and non-profit operation.
To improve the registration management system, the regulations clarify the registration authority level and registered capital, steadily advance direct registration, specify procedural requirements for registration changes, and refine liquidation procedures prior to deregistration.
Highlighting the need to regulate the activities of foundations, these regulations improve requirements for fundraising, donation and grant-making activities, and regulate internet public fundraising and cooperative public fundraising, among others.
The regulations also stress the need to improve internal governance, strengthen information disclosure and industry self-regulation, and enhance supervision. ■
