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ICBC Mall Approved as an Internet Fundraising Information Platform

On May 24, the Ministry of Civil Affairs announced the second batch of Internet fundraising information platforms for charitable organizations. ICBC Mall Public Welfare under the ICBC Mall was selected as one of the 21 online public fundraising platforms in China, becoming the first officially-approved charitable fundraising platform under a bank.

According to a bank official, ICBC Mall, as an e-commerce platform under ICBC featuring “famous brands, well-known products, reputed stores”, establishes a matching platform for top-notch enterprises and consumers to provide integrated services covering sales, payment, settlement and financing. So far, it is among the leading e-commerce platforms in China. In the future, ICBC Mall Public Welfare will rely on over 100 million ICBC Mall users to develop innovative public welfare service. With the integrated e-commerce platform as carrier, the bank-level security system as guarantee and the professional customer service as support, it will strive to fulfill its social responsibilities and public welfare mission as a leading state-owned bank.

With the rapid development of the Internet public fundraising, the Ministry of Civil Affairs started to select the second group of Internet pubic fundraising information platforms for charitable organizations in January by following the principles of “coordinated planning, gradual progress, openness and transparency, voluntary application, compliance with laws and regulations, selection of the best”. As required,  the platforms and their operators, in addition to the basic conditions such as qualification for Internet information service and independent legal entity, must be the bellwether with great influence and prestige in the Internet industry as well as in the public welfare & charity sector, and are highly capable in network response and risk prevention. During the process, ICBC Mall Public Welfare won unanimous approval of the reviewing committee consisting of philanthropic experts, Internet experts, representatives from charitable organizations, media and donators.

Data show that the first batch of 12 Internet public fundraising information platforms fulfilled more than 6.2 billion donations throughout 2017, raising over RMB2.5 billion. As insiders point out, the release of the second batch of platforms will explore more legitimate channels for online fundraising, and offer more effective and convenient bridges for the public to share love and deliver hope.