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A Nationwide Wave of Corporate Donations

Chinese companies and business leaders have pledged an unprecedented surge of financial support following a catastrophic residential fire in Hong Kong that has claimed at least 94 lives and left hundreds injured or missing. The tragedy, one of the city’s most devastating incidents since the mid-20th century, sparked immediate action from China’s largest private firms, many of which committed multimillion-dollar contributions within hours.

Alibaba Group and Ant Group jointly pledged 30 million Hong Kong dollars to assist with immediate rescue and relief operations. Jack Ma, through the Jack Ma Foundation, separately committed another HK$30 million. Joining them was sportswear giant Anta, which announced an additional HK$30 million in combined cash and material donations. Technology leaders Xiaomi and ByteDance each contributed HK$10 million, while Tencent expanded its initial HK$10 million pledge to HK$30 million as rescue needs escalated.

According to estimates published by The Paper, over 40 private companies across China had collectively committed more than HK$600 million by Wednesday, demonstrating a sweeping nationwide response far larger than seen in previous disaster relief efforts.

Support From Business Leaders, Private Equity, and Global Firms

The relief effort has also drawn contributions from prominent investors. HongShan Capital Group, the private equity firm previously known as Sequoia China, donated HK$10 million to support rescue operations. Jean Eric Salata, Chairperson of EQT Asia, pledged another HK$10 million through his family office to fund emotional counseling, family assistance, and educational support for displaced children.

A broad spectrum of companies across technology, retail, finance, hospitality, and manufacturing have joined the effort. Major firms listed among the contributors include Baidu, BYD, Geely, XPeng, NetEase, Trip.com, Lenovo, Midea Group, Wens Foodstuff, CATL, AIA Hong Kong, China Merchants Group, and the HKEX Foundation. Many of these firms made contributions ranging from HK$5 million to HK$40 million.

This robust corporate response reflects a broader shift in China’s business landscape, where firms have increasingly aligned themselves with Beijing’s call for heightened social responsibility. In recent years, leaders such as Xiaomi co-founder Lei Jun and Meituan founder Wang Xing have donated billions of yuan toward education, science, and technological development. ByteDance founder Zhang Yiming has also expanded his philanthropic footprint, signaling a deeper cultural shift in corporate giving.

President Xi Urges Full Mobilization as Investigations Deepen

Chinese President Xi Jinping called for all-out efforts to reduce casualties and provide comprehensive support to residents affected by the blaze. His remarks, delivered early Thursday, set the tone for the rapid wave of donations and reinforced the expectation of coordinated national assistance.

The incident occurred at Wang Fuk Court, an eight-tower public housing complex in northern Hong Kong with more than 4,600 residents living in roughly 2,000 apartments. Authorities reported that the fire burned through multiple blocks and took nearly a full day to bring largely under control. Firefighters continued containment efforts into Thursday as smoke, heat pockets, and structural risks remained.

Initial investigations suggest the blaze may have ignited on bamboo scaffolding surrounding parts of the building. The fire is believed to have spread quickly through wooden supports, foam insulation, and protective netting — materials now under intense scrutiny for failing to meet safety or fire resistance standards.

Public Scrutiny Intensifies Amid Arrests and Safety Concerns

Hong Kong police stated that a construction company involved in the renovation of the building used “highly inflammable” materials that may not have met regulatory requirements. Officials have pointed to “gross negligence” in the company’s handling of structural components, including plastic sheets and foam materials known to ignite rapidly under heat.

Three men linked to the construction firm were arrested on suspicion of manslaughter, marking the beginning of what is expected to become a far-reaching investigation into construction practices, safety oversight, and the regulation of public housing projects.

The fire, now the deadliest since 1948 when a warehouse blaze claimed 176 lives, has raised urgent questions about the region’s building standards and emergency preparedness. Residents and local leaders are calling for stricter construction oversight, clearer safety protocols, and a comprehensive review of renovation practices across public housing estates.

A Turning Point for Corporate Engagement and Social Responsibility

The scale of the response from China’s corporate sector highlights a growing recognition that large companies play a critical role during national crises. Donations have come not only in the form of financial aid but also through equipment, logistics support, and long-term commitments to community rebuilding.

As Hong Kong recovers, the collaboration between public agencies, private enterprises, and philanthropic groups is expected to expand, setting a new benchmark for corporate involvement in disaster relief across the region.

China’s private sector appears poised to remain deeply engaged as the city confronts the immense human and structural losses left behind by the tragedy.