The first Charity Law ofChinahas been officially implemented today (September 1), granting a clear legal position to charitable trusts. On the opening day of the Charity Law, SDIC Taikang Trust was the first to come out with two new charitable trusts, “SDIC Taikang Trust 2016 SDIC Charitable Trust No. 1” and “SDIC Taikang Trust 2016 Hopes & Dreams Educational Charitable Trust No.1.” As the legal counsel of SDIC Taikang Trust, Ms. Jennifer Zhang, partner of East & Concord Partners, led East & Concord’s legal team to provide full legal services for the first charitable trust.

The client of “SDIC Taikang Trust 2016 SDIC Charitable Trust No.1” is a state development & investment company, with SDIC Taikang Trust being a trustee. The charitable trust fund totals at RMB 30 million (RMB 10 million annually for each of the first three years), with a limit of five years to improve the lives and educational conditions of people in impoverished regions through specific donations. The client of “SDIC Taikang Trust 2016 Hopes & Dreams Educational Charitable Trust No.1” is a natural person, the charitable trust fund totals at RMB 820 thousand, with a limit of three years. With Shanghai Adream Charitable Foundation being the project executor, the trust is committed to ensuring quality education in primary and secondary schools nationwide and providing helps and reliefs for both students and teachers throughout the nation.

As a large-scale integrated law firm, East & Concord Partners, while providing high-quality and efficient legal services with dedication, takes important social responsibilities, and is widely recognized by the industry and as a result received 2016 LEGALBAND China Employer of Choice Award (Social Responsibility).