NetEase Terminated Partnership with China Red Cross

Netease (Nasdaq: NTES) issued an announcement to terminate partnership with China Red Cross in the earthquake relief operation after China Red Cross refused to make the amount of donations available to the public. Effective 22:00 of May 14, 2008, donations made through Netease will be passed to other charities that accept openness. China Red Cross is the original designated beneficiary.

It is not rare to see disaster relief money fail to reach the hands of victims. In a publicized incident after a disaster in 2003, in a RBM 59,060,000 relief grant from the National government, only RMB 500,000 reached hands of victims after two years.

Where did your donation go? In this picture posted by a Netizen of Shifang, a tent printed 'RELIEF' appeared in an area not suffered from the earthquake last week.

One Qinghua University student was banned from using the campus forum for 14 days, because he post a message asking how much of the donation will be used on actual relief.