The "Chinese example" of internet philanthropy is undergoing constant innovations, a report issued by a recent internet good summit in Wuhan, Hubei province, points out.

Driven by the digital boom, technological progress and enterprise innovation, and under the guarantee of policies and laws, China's internet-based charity undertaking is advancing in an innovative and higher-quality manner. This year marks the 8th anniversary of the enactment of the Charity Law in China, and the past eight years have witnessed the growth, formation and development of the internet-based charity cause in the country.

According to statistics from the Ministry of Civil Affairs, donations raised through internet platforms in China increased from 2.5 billion yuan ($355.87 million) in 2017 to nearly 10 billion yuan in 2021, with more than 10 billion people participating in internet charity in the past three years.

China's internet philanthropy has achieved high-quality development thanks to its rapid economic growth, technological innovation and high-quality economic and social development. A report issued by Credit Suisse on global wealth shows that by the end of 2021, global household wealth reached $463.6 trillion, and China's wealth reached $85.1 trillion, ranking second in the world. Between 2000 and 2021, the median wealth of Chinese people rose from $3,133 to $26,800. In 2021, the scale of China's digital economy reached 45.5 trillion yuan, more than double that in the early part of the 13th Five-Year Plan (2016-20), accounting for 39.8 percent of the GDP.

China's rapid economic growth, huge wealth accumulation and strong support from the digital economy have laid an important foundation for the development of internet philanthropy. Even the government has improved the charity policy and regulation system, established a support and encouragement policy system that consists of government service purchase, tax and other incentives, and designated 30 organizations for online charity fundraising.

The top authorities have stressed that China will establish a coordinated income distribution system featuring primary distribution, redistribution and third distribution, and guide and support capable enterprises, social organizations and individuals to take an active part in public welfare and charity undertakings. The healthy, sustainable and high-quality development of China's internet charity will surely play a greater role in building a Chinese path to modernization featuring common prosperity, harmony between material and spiritual civilization, and harmonious coexistence between man and nature.