China may enact philanthropy law in 2 years

China is expected to promulgate its national philanthropy law within two years after the Ministry of Civil Affairs reported the draft law to the State Council last month, an official close to the matter said.

At a seminar when the Chinese Academy of Social Sciences (CASS) released the annual report on China's philanthropy development, which is also the country's first blue book of philanthropy, Ministry of Civil Affairs officials said on Tuesday the philanthropy law hopefully will be passed and promulgated by the State Council and top legislature National People's Congress in no more than one or two years.

Experts and practitioners suggested at the seminar that the future philanthropy law should clearly define the nature of philanthropic organizations, as well as standardize the preferential tax policy, founding, supervision and internal governance of philanthropic organizations.