Chinese private firms pledged tens of millions of dollars to support rescue and relief efforts after a deadly residential fire in Hong Kong killed at least 94 people and left hundreds missing.
Sportswear maker AntaXiaomi Corp$30 million.
More than 40 private enterprises have committed over HK$600 million in donations to the rescue effort as of Wednesday, according to estimates by The Paper, a news outlet backed by the Shanghai government.
The fire rescue efforts have also drawn HK$10 million from China’s private equity firm HongShan Capital Group (HSG), formerly known as Sequoia Capital China.
Separately, private equity titan Jean Eric Salata, Chairperson of EQT Asia, also pledged HK$10 million through his family office, Central Cove, to fund grief and psychological support, education resources for displaced children, and financial relief for victims’ families.
The wave of donations followed comments from President Xi Jinping, who urged all-out efforts to reduce casualties and rallied relevant authorities and parties to provide “necessary support.”
- China Red Cross: 2 million yuan
- Xiaomi: HK$10 million
- Anta Group: HK$30 million
- Tencent Charity Foundation: HK$30 million
- ByteDance: HK$10 million
- Ant Group: HK$10 million
- Alibaba Group: HK$20 million
- Fuguiniao Group: HK$5 million
- Be Friends Holdings: HK$1 million
- Xpeng: HK$5 million
- BYD: HK$10 million
- Geely: HK$10 million
- NetEase: HK$10 million
- Trip.com: HK$10 million
- Wens Foodstuff: HK$40 million
- Midea Group: HK$10 million
- Du Xiaoman: HK$10 million
- Xtep Group: HK$20 million
- Lenovo: HK$10 million
- S.F. Holding: HK$20 million
- Baidu: HK$10 million
- PDD: HK$10 million
- Shangri-la Group: HK$10 million
- China Merchants Group: HK$20 million
- HKEX Foundation: HK$10 million
- Mixue: HK$20 million
- CATL: HK$15 million
- AIA Hong Kong: HK$20 million
Source: Reuters
Chinese entrepreneurs have ramped up their charitable commitments in recent years to heed Beijing’s call to put social responsibility before profits, amid tightened regulatory scrutiny of the private sector.
Xiaomi’s co-founder, Lei Jun, has donated more than 1.7 billion yuan ($240 million) since launching his philanthropic foundation in 2019 to support cutting-edge technology development and provide financial assistance to students from low-income families.
In 2021, Meituan’s founder, Wang Xing, contributedshares worth about $2.3 billion to his philanthropic foundation, which promotes education and scientific research. ByteDance’s Zhang Yiming has also given away parts of his fortune to charitable causes.
Worst fire since 1948
China’s state-run Xinhua News Agency said Friday morning that the death toll had risen to 94, citing the fire department. It is the city’s deadliest blaze since 1948, when a warehouse fire killed 176 people.
The latest blaze tore through Wang Fuk Court, an eight-tower public housing complex in northern Hong Kong, home to 4,600 people in 2,000 apartments, according to Reuters.
On Thursday morning, Reuters reported, citing authorities, that the fire in four of the seven affected blocks had been brought under control nearly a full day after the fire began. Firefighters were still working to contain the blaze in the remaining areas.
Officials said the blaze may have started on a section of bamboo scaffolding encasing the complex, then spread to other buildings through the wooden poles and protective netting — prompting public scrutiny of the city’s housing standards.
Hong Kong’s police pointed to a “grossly negligent” construction company for using “highly inflammable” foam material, protective mesh sheets and plastic that may not have met fire standards. Three men from the construction company have been arrested on suspicion of “manslaughter.”
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