From June 28th to 30th, the first session of the "Charitable Trust and Donor Advised Fund (DAF) Empowering Family Inheritance" Innovation Class (referred to as the "DAF Innovation Class") was successfully held in Beijing. The "DAF Innovation Class" was hosted by Asia Academy of Philanthropy, with academic guidance provided by the China Philanthropy Research Institute of Beijing Normal University, professional support provided by the Zhonglun Boryong Strategic Charity and Wealth Inheritance Team, and public welfare support from the DAF Charity. The event aimed to empower professionals with knowledge and skills in terms of philanthropy.
26 participants and 8 observers from various fields, including private wealth departments of commercial banks and securities firms, leading trust companies, family offices in China and abroad, law firms, and multiple public welfare organizations, gathered from Beijing, Shenzhen, Xi'an, Hangzhou, Rizhao, Taiyuan, Dalian, Hong Kong, Singapore, and the United States. Over the course of three intensive and enriching project-based learning days, the participants divided into four groups and presented innovative business solutions that integrated philanthropy and business concepts. Their presentations, which focused on customer relationship management and inheritance planning for high-net-worth individuals or wealthy families, created a stimulating learning environment.
The DAF Innovation Class invited distinguished experts to provide insights into the challenges and solutions of family inheritance. Dr. Wang Zhenyao, Dean of China Philanthropy Research Institute of Beijing Normal University and Chairman of Asia Academy of Philanthropy, and Huang Haoming, Executive Dean of Asia Academy of Philanthropy and Distinguished Professor of China Philanthropy Research Institute of Beijing Normal University, shared their perspectives from different angles.
Dr. Wang Zhenyao emphasized that the era of Good Economy has arrived. Philanthropy, as an important carrier of social value, has begun to take on economic functions. Social value is now guiding the direction of economic development. Only by embracing benevolence can one truly manage wealth. Dr.Wang also stated that seeking truth brings wisdom, and embracing benevolence enables inheritance. He encouraged professionals to become producers and disseminators of social value.
Figrue 1: Lecture given by Dr.Wang Zhenyao
Dean Huang Haoming analyzed the intrinsic relationship between charitable paradigms and family cultural inheritance. He argued that inheritance is self-serving, while inheritance is altruistic. In Chinese family inheritance cases, there are examples of thousands of years of cultural inheritance, such as the Confucius family and the Mencius family; hundreds of years of business inheritance, such as the Bei family and the Rong family; and dozens of years of charitable inheritance, such as the Niu family and the He family. With a comprehensive perspective, Dean Huang analyzed the advantages and disadvantages of various family philanthropy models, including family foundations, family special funds, family charitable trusts, direct family donations, donor-advised funds, and social enterprises. He also expressed the view that family philanthropy should go from being a niche activity for a few families to a common practice for every family, and from a family philanthropy culture to a culture of philanthropy for all.
Figure 2: Lecture given by Dean Huang Haoming
Zhang Haoling, co-founder of Heroad Investments. and Chairwoman of Heroad Foundations, explained the concept of make investments good and good for investment from the perspective of Good Economy. She also shared case studies of "investing for good" in the areas of business and capital.
In terms of make investments good, Ms. Zhang analyzed the macro-demand from four perspectives: economic development, sustainable development, health+, and better life. She believes that China can build a new "smile curve" by leveraging its fivefold advantages in supply chain, technology, data, brands, and policies. She further positioned the goal of "investing for good" on Chinese original global service-oriented technology brands.
In terms of good for investment, Ms. Zhang analyzed the development path from ethical investment to socially responsible investment and then to ESG investment. She also defined the impact investment (or active ESG investment). The active ESG investment combines the positive and negative screening , ESG integration, sustainable investment, impact investment, and stewardship techniques. Through the dual mechanisms of the Investment Committee and the Social Value Committee, it aims to screen and manage the commercial value and social value of projects, thereby bringing higher safety margins and creating greater and more sustainable social and commercial value.
Figure 3: Lecture given by Ms. Zhang Haoling
During the graduation ceremony, Dr. Wang delivered an inspiring speech, encouraging everyone to "apply what they have learned, become innovators, leaders, and doers in the era of the Good Economy." He and Dean Huang Haoming presented graduation certificates to each of the attending participants and posed for a group photo.