The Hong Kong Jockey Club announced at an International Charity Forum held in Hong Kong on Sept. 11 that it would allocate HK$5 billion (US$640 million) as an initial fund for the establishment of an “Institute of Philanthropy (IoP).” HKSAR Chief Executive John Lee Ka-chiu made it clear on the same occasion that he would promote policies to attract family offices and trust funds to Hong Kong. He also firmly believed that the institute would help promote Hong Kong to become an “international center of philanthropy.” Comments abound questioning the government’s intention, in that while it is doing all it can to enforce stricter control over charities and dismantle civil society, it becomes highly skeptical that its real purpose is no more than just to attract mainland funds to Hong Kong....Read more https://www.theepochtimes.com/china/hong-kong-government-suspected-of-luring-mainland-billionaires-to-transfer-money-in-the-guise-of-charity-5493167