Tencent to donate 2% of profit as Chinese online charity grows

Noble intentions: Ma has vowed to use technology to transform China's public welfare efforts.

HONG KONG:  Chinese billionaire Pony Ma Huateng, the founder of Internet group Tencent, on Friday said his company would donate 2% of its annual profit to charity and flagged growth in the use of mobile Internet in China's philanthropy sector.

Ma's pledge follows China's introduction of new laws earlier this month that provided a legal framework for approved Internet companies to raise and manage funds for charity.