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HONG KONG - Philanthropic donations in China are surging, as the country's nouveau riche expands with economic development, and should be boosted in the next few years by much-needed tax incentives, analysts say.



Donations from the top 50 publicly disclosed philanthropists in China have risen eightfold in the past three years, totaling U.S. $10.9 billion so far this year, according to investment bank UBS AG.



Donors are led by 85-year-old Yu Pengnian of Shenzhen-based trade and property group Pengnian Industries, who has donated $260 million to health and higher education since 2003, according to the Beijing-based Hurun Report's league table.