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Macau is striving to keep pace with the new information age, but a lack of investment and bureaucracy mean that the transition will not be easy.

Foreign life insurers will be allowed to introduce new products once China joins the WTO, but the regulatory environment is also likely to change.

Along awaited Law on Foundations will raise the minimum funding threshold for registration from Yn200,000 to Yn5m and allow up to 50 per cent of capital to be invested in businesses and securities provided that risk is spread and funds are managed professionally. So said Dr Wu Zhongze, head of the Ministry of Civil Affairs Bureau of Non-Government Organisations, which has been closely involved in drafting the law.

Corporate philanthropy is taking hold in China, especially among private enterprises. More than half the money is spent on poverty alleviation but a high percentage goes direct to the government, much of it to support basic infrastructure projects.