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Are the One Foundation in Jet Li and the Public Offering of Fund Private Equity Fund in stock concept funds?
Jet Li originally envisaged setting up a foundation under the Red Cross, but the charity law in China is not perfect. According to Chinese laws, special events can only be set up under the Red Cross.

The staff of the One Foundation will not have direct contact with the funds raised. In other words, according to the regulations, the One Foundation can only be responsible for raising money, not managing it. Taking the donation process of Wenchuan earthquake relief in 2008 as an example, the One Foundation Management Committee has the right to decide on the use of donations, but it still needs to use funds through the channels of the Red Cross.

Because there is no independent legal person status, the cooperative special fund program under the Red Cross cannot have its own institutions and employees.

The embarrassing position of One Foundation is caused by China's system. A foundation is like a child without an ID card. People who want China's philanthropy to be more professional and transparent have begun to question the identity and legal structure of One Foundation. Liu Youping, deputy director of China People's Charity Donation Information Center, pointed out that non-public offering foundations without public offering qualifications are actually exercising the reality of public offering. A foundation uses the public offering power of the Red Cross to seek rent, which shows the confusion of charitable foundations in China.