ALTRUISTIC: One Foundation donates school equipment to needy students (center Jet Li) (LIN YIGUANG)

This past September, Bill Gates and Warren Buffett, two of the world's wealthiest billionaires, traveled to Beijing to hold a private party with over 50 Chinese tycoons.

The invite list consisted of China's most affluent, including Chen Guangbiao, Chairman of Jiangsu Huangpu Renewable Resources Utilization, Zhang Xin, CEO of the real estate company SOHO China and Zong Qinghou, Chairman of drink maker Hangzhou Wahaha Group.

Gates and Buffett have a history of persuading other billionaires to make large charitable contributions. Since June 2010, 40 American billionaires have each donated over 50 percent of their individual fortunes to the duo's "The Giving Pledge" project.

In Beijing, the pair's initiative wasn't embraced as warmly as in the United States. It was reported that many of the well-to-do refused the invitation, as they were concerned about the two hosts pressuring them to make large pledges. It turned out to be a party about communication rather than donation, but the invitees' misgivings have raised much speculation and made Chinese charity a heated issue.

Among the attendees was film star Jet Li. Originally famous for his kungfu moves, he is now more well known for his charity work. "It is not only the business of the rich," he said at the dinner. "Everybody can contribute to charity."

One Foundation  

Li founded his charity group One Foundation in 2006. With its motto "1 person + 1 dollar/yuan + 1 month = 1 big family," the organization encourages ordinary people to engage in philanthropy and believes that individuals working together can make a difference.

Rosy as it sounds, the project is facing problems. On September 12, during an interview with China Central Television (CCTV), Li revealed that One Foundation may be suspended due to legal issues. Li compared the organization's problems to "a child without an identity card." He said, "Although One Foundation is healthy now, it will be questioned by an increasing number of people who want Chinese charities to be more transparent and professional."

Charity organizations in China are either public or private. According to current legal regulations, only public foundations can raise funds by public donations. Private organizations are not allowed to do so. In order to access public funds, Li affiliated One Foundation with the Red Cross Society of China (CRCF), an officially sanctioned charitable organization. "One Foundation doesn't even have independent corporate capacity. It is just a special fund under CRCF," Jia Xijin, Deputy Director of the NGO Research Center at Tsinghua University, told ChinAfrica.

According to Jia, One Foundation's predicament is not a current problem, but a persistent one that has existed since the group's beginnings. "What Li meant [in his CCTV interview] is that he's not able to independently raise public funds with One Foundation, which had been his hope since the establishment of his charity organization," she said.