An application like Kiva for China?: Comments

Posted by Daniel Foa (Contact, Page)
Date: January 23rd, 2008, 14:58

There are banking regulations to consider when performing the role of a financial intermediary. Also Cash deposits in RMB can make up to 6% (4% on a 1 year cash deposit).

You are right that Chinese like to invest in the stock market, even my driver invests! (FYI he withdrew (90% of his investments 3 weeks ago)

There is a potential model which we are working on at www.51give.com

Currently in Beta, but to launch first with donations in 1 month.

Also, I don't believe China and Chinese are inclined to not helping reduce poverty, however, they are very unhappy with the transparency and accountability of the organisations that are currently doing it. Therefore with these aspects solved, it can flourish.

~~~

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