Li Guoqing Commits RMB 50 Million to Establish a New Public Welfare Foundation

Last night, Dangdang founder Li Guoqing announced that he will personally lead the launch of a new public welfare foundation, starting with an initial RMB 50 million contribution from his own funds.

Li shared that after he previously donated RMB 1 million to the Yanran Angel Children’s Hospital, he received nearly a thousand private messages seeking help. Many of them came from families whose children were battling serious illnesses, and who could not afford the out-of-pocket portion of medical expenses.

In response, Li said the messages were both moving and motivating. He expressed his hope to eventually raise RMB 500 million to build a dedicated charitable fund focused on covering major illness treatment costs for children in low-income households.

He acknowledged that running a philanthropic foundation—and earning the trust and support of other entrepreneurs and the public—comes with significant challenges and risks. Still, he noted that this goal is not new: it is something he has postponed for five years. He added that the initiative is expected to formally begin in June, and that he intends to devote half of his time to what he described as a new mission for the second half of his life.

Li emphasized that fairness, transparency, and real impact will be core principles of the foundation. He said he plans to apply the organizational discipline and efficiency he learned in business to philanthropic work—so contributors feel confident their money is well managed, and beneficiaries receive meaningful support.

He also made a personal commitment: he will dedicate half his time to charity work without drawing a salary, and he will not be deterred by criticism. Even if he faces backlash, he said, he will not turn back.

“As the saying goes,” Li added, “I’m willing to take responsibility—if I don’t step forward, then who will?”