appConfigEntityId

bodyType

customContents

entityId

entityUuid

isVideo

articlePageQuery

article

articleSchemaContent

content

hooksArticlePageAdvertisementConfigArticle

hooksArticlePageFloatingButtonConfigArticle

appConfig

filter

json

liveArticle

Connor Mycroft

Philanthropic giving in nine Asian jurisdictions is projected to hit US$1.5 trillion over the next decade, while corporate contributions play a larger role in Hong Kong than in many regional peers, according to a new report released at a Jockey Club forum.
The Commission on Asian Philanthropy released its interim report on Monday. In a separate report, the Hong Kong Jockey Club Charities Trust said the club had generated economic value equivalent to about 1.8 per cent of the city’s gross domestic product (GDP) in the 2024-25 financial year.
Both reports were released on the opening day of the Jockey Club’s PBC (Philanthropy for Better Cities) Forum 2026, which marked the event’s 10th anniversary and brought together about 2,000 delegates from across philanthropy, sport, government, business and academia.
Organisations taking part in the two-day forum included the Gates Foundation, founded by American tech pioneer Bill Gates and his ex-wife Melinda French Gates, and the Yao Foundation, the non-profit charity founded by former NBA star Yao Ming.
At the opening ceremony, Jockey Club chairman Martin Liao Cheung-kong said the forum had given Hong Kong an opportunity to “showcase its credentials” as a global hub, while reinforcing its role as a bridge between East and West.
“We are gathering at a critical time,” he said. “Philanthropy is growing in importance because governments are no longer alone in confronting the world’s most profound challenges.
“Today, communities, businesses and civic society are all grappling with ever more complex social needs, demographic shifts, technological disruption and the pressing realities of climate change.”


Chief Secretary Eric Chan Kwok-ki, Hong Kong’s No 2 official, said the government was fully committed to turning the city into a global centre for philanthropy.
“Under the ‘one country, two systems’ principle, and as a bridge between East and West, we are uniquely positioned to deploy global capital for the greater good,” he said.
Helen Clark, New Zealand’s prime minister from 1999 to 2008, delivered the event’s keynote address, highlighting philanthropy’s role in addressing challenges during a time of geopolitical turbulence.
“My overall message is that we should not be without hope and agency that we can bring about better times, and that philanthropy has a vital role to play in that as others falter,” she said.
The Commission on Asian Philanthropy, which launched at the previous forum in 2024, comprises 13 charitable organisations from 10 jurisdictions across the region, including the Jockey Club Charities Trust.
Taken together, the 10 jurisdictions – which include Hong Kong, mainland China, Singapore, Japan, and Saudi Arabia – account for 70 per cent of Asia’s population and 80 per cent of its GDP.
Excluding the United Arab Emirates, whose data is not readily available, the commission’s interim report noted philanthropic giving across the other nine jurisdictions amounted to US$109 billion in 2024.
When accounting for “organic growth” based on GDP projections, the commission estimated that such giving could reach as high as US$1.5 trillion over the next decade.
The report identified an additional US$189 billion in monetary resources over the next decade if each of the surveyed jurisdictions were able to achieve “upside opportunity”.
The metric reflects philanthropic models in each jurisdiction that are considered to have more room to grow and innovate.
The commission also found that across the surveyed jurisdictions, individuals overall accounted for about 50 per cent of charitable giving, followed by companies at 25 per cent and state-led contributions at 21 per cent.
Ultra-high-net-worth individuals contributed 4 per cent, it noted.


In Hong Kong, however, corporate giving made up the largest share of domestic philanthropic spending, at 43 per cent, while individual giving was the second lowest, at 39 per cent.
Giving by high-net-worth individuals was also the second highest among the jurisdictions surveyed, at 10 per cent. It was behind only Saudi Arabia, where such giving made up 12 per cent of the total.
Separately, the Jockey Club Charities Trust released an inaugural report quantifying the impact of the philanthropic body’s work in Hong Kong for the first time.
Citing an independent study by KPMG Advisory, the Jockey Club said it had contributed about HK$55.4 billion (US$7.07 billion) in economic value to Hong Kong during 2024-25, equivalent to about 1.8 per cent of the city’s GDP.
It also supported 52,000 full-time equivalent positions – a standardised metric based on working hours – representing 1.4 per cent of total employment in the city during the period.
In a foreword to the report, Chief Executive John Lee Ka-chiu said the Jockey Club’s “value creation model” had helped the city to become a philanthropic hub, calling it “distinctive, truly made-in-Hong Kong innovation that has stood the test of time”.
“Most importantly, this is an excellent adjunct to Hong Kong’s growing role as a wealth management hub for family offices, adding momentum to the initiatives the government has strongly promoted and where excellent progress has been achieved,” he said.
Among a slew of announcements on Monday, the Jockey Club said it had approved a HK$134 million donation through its charities trust for the five-year Jockey Club Hoops Connect Community Basketball Programme.
It said the programme would help enable more young people to learn how to play basketball while aligning with the nation’s 15th five-year plan, which called for the acceleration of China into a leading sports nation.
Meanwhile, the Jockey Club remained Asia’s top corporate giver and the eighth-largest globally in the latest rankings by non-profit consultancy Bridgespan Group, with its annual average spending between 2020 and 2024 reaching US$774 million.
When measured by institutional philanthropic giving – including private foundations, corporate foundations and state-linked entities focused on philanthropic work – the Jockey Club ranked 11th globally.


Hong Kong’s 5-year plan, policy continuity offer investors more stability, experts say

Hong Kong sets 5-year plan to double innovation spending, boost new industries

Hong Kong to offer ‘attractive’ merger deals for schools beyond those struggling

Hong Kong leader pledges building maintenance reforms after fatal Tai Po fire

Hong Kong society

Philanthropic giving in Asia forecast to hit US$1.5 trillion over next decade

Monday marks the first day of the Jockey Club’s PBC Forum 2026. Photo: Connor Mycroft

Jockey Club chairman Martin Liao says the forum provides Hong Kong with an opportunity to “showcase its credentials” as a global hub and reinforce its role as a bridge between East and West. Photo: Edmond So

Eric Chan, Hong Kong’s No 2 official, says the government is fully committed to turning the city into a global centre for philanthropy. Photo: Handout

Assembled officials, Jockey Club leadership and other guests at this year’s forum. Photo: Handout

Jockey Club delays mainland China races as turnover hits record HK$331.7b

Horse racing enthusiasts at the Sha Tin Finale Race Day at Sha Tin Racecourse. Photo: Sam Tsang

The club will not be allowed to offer betting on the races at the facility, due to the mainland’s laws on gambling. Photo: Hong Kong Jockey Club 

Hong Kong urged to position Greater Bay Area as equine hub, grow racing tourism

Horse racing enthusiasts pack the stands for the season finale at Happy Valley on July 15. Photo: Karma Lo

Hong Kong Jockey Club CEO Winfried Engelbrecht-Bresges presents the proposals to Secretary for Constitutional and Mainland Affairs Janice Tse. Photo: Handout

Jockey Club to pivot bulk of HK$1 billion basketball betting plan to curb illicit football wagering

Hong Kong has put the launch of legalised basketball betting on hold. Photo: Sam Tsang

A Jockey Club betting branch in Central. The club was expected to run basketball betting. Photo: Jonathan Wong

News

Hong Kong

Society

Corporate giving makes up the largest share of philanthropic spending in Hong Kong, report says


Corporate giving makes up the largest share of philanthropic spending in Hong Kong, report says.


Philanthropic giving in Asia forecast to hit US$1.5 trillion over next decade

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Corporate giving makes up the largest share of philanthropic spending in Hong Kong, report says

Corporate giving makes up the largest share of philanthropic spending in Hong Kong, report says