Chinese firms rush to pledge millions in fire rescue as Hong Kong fire death toll climbs to 55

Chinese firms rush to pledge millions in fire rescue as Hong Kong fire death toll climbs to 55


Firefighters walk near residential buildings that continue to burn at Wang Fuk Court in the Tai Po district on Nov. 27, 2025 in Hong Kong, China.

Isaac Lawrence | Getty Images News | Getty Images

Chinese private firms pledged tens of millions of dollars to support rescue and relief efforts after a deadly residential fire in Hong Kong killed at least 55 people and left hundreds missing.

Alibaba Group and its affiliate Ant Group together committed 30 million Hong Kong dollars to support fire relief efforts. Alibaba founder Jack Ma, one of the most recognizable Chinese entrepreneurs, also pledged $30 million through his charity foundation to provide emergency aid to those affected.

Sportswear maker Anta, which owns brands such as Jack Wolfskin and Fila, said it would donate HK$30 million in cash and equipment. Tencent Holdings, Xiaomi Corp and ByteDance each pledged HK$10 million to aid the rescue efforts and support victims of the blaze.

The wave of donations followed comments from President Xi Jinping, who urged all-out efforts to reduce casualties and rallied relevant authorities and parties to provide “necessary support.”

Companies pledge millions to aid Hong Kong fire rescue efforts

  • China Red Cross: 2 million yuan
  • Xiaomi: HK$10 million
  • Anta Group: HK$30 million
  • Tencent: HK$10 million
  • ByteDance: HK$10 million
  • Ant Group: HK$10 million
  • Alibaba Group: HK$20 million
  • Fuguiniao Group: HK$5 million
  • Be Friends Holdings: HK$1 million
  • Xpeng: HK$5 million
  • BYD: HK$10 million
  • NetEase: HK$10 million
  • Trip.com: HK$10 million
  • Wens Foodstuff: HK$40 million
  • Midea Group: HK$10 million
  • Du Xiaoman: HK$10 million
  • Xtep Group: HK$20 million
  • Lenovo: HK$10 million

Source: Reuters

Chinese entrepreneurs have ramped up their charitable commitments in recent years to heed Beijing’s call to put social responsibility before profits, amid tightened regulatory scrutiny of the private sector.

Xiaomi’s co-founder, Lei Jun, has donated more than 1.7 billion yuan ($240 million) since launching his philanthropic foundation in 2019 to support cutting-edge technology development and provide financial assistance to students from low-income families.

In 2021, Meituan’s founder, Wang Xing, contributed shares worth about $2.3 billion to his philanthropic foundation, which promotes education and scientific research. ByteDance’s Zhang Yiming has also given away parts of his fortune to charitable causes.

A woman is seen crying near residential buildings that continue to burn at Wang Fuk Court in the Tai Po district on Nov. 27, 2025 in Hong Kong, China

Isaac Lawrence | Getty Images News | Getty Images

Worst fire since 1948

The fire on Thursday is Hong Kong’s deadliest since 1948, when a warehouse blaze killed 176 people.

The latest blaze tore through Wang Fuk Court, an eight-tower housing block in northern Hong Kong housing 4,600 people in 2,000 apartments, according to Reuters.

On Thursday morning, Reuters reported, citing authorities, that the fire in four of the seven affected blocks had been brought under control nearly a full day after the fire began. Firefighters were still working to contain the blaze in the remaining areas.

Officials said the blaze may have started on a section of bamboo scaffolding encasing the complex, then spread to other buildings through the wooden poles and protective netting — prompting public scrutiny of the city’s housing standards.

Hong Kong’s police pointed to a “grossly negligent” construction company that used protective mesh sheets and plastic that may not meet fire standards and foam material that is “highly inflammable.” Three men from the construction company have been arrested on suspicion of “manslaughter.”

Volunteers give out food to residents after a major fire swept through several apartment blocks at the Wang Fuk Court residential estate in Hong Kong’s Tai Po district on Nov. 27, 2025.

Peter Parks | Afp | Getty Images



Source

Dow jumps 300 points as oil falls after U.S. reportedly sends Iran peace plan: Live updates
World

Dow jumps 300 points as oil falls after U.S. reportedly sends Iran peace plan: Live updates

Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York on March 24, 2026. Angela Weiss | AFP | Getty Images Stocks jumped on Wednesday following reports that the U.S. has given Iran a plan to bring the conflict to an end, sending crude prices tumbling. […]

Read More
SpaceX reportedly could file for an IPO this week. These funds allow you to invest right now
World

SpaceX reportedly could file for an IPO this week. These funds allow you to invest right now

As SpaceX potentially readies to begin the progress of going public in the coming days, investors already have funds to play it. The Information reported Tuesday that the Elon Musk-run startup is looking to file its initial public offering prospectus with regulators as early as this week. Advisers involved said the company could raise more […]

Read More
U.S. brought back 0 million of gold from Venezuela, Interior Secretary Burgum says
World

U.S. brought back $100 million of gold from Venezuela, Interior Secretary Burgum says

Doug Burgum, US secretary of the interior, at the CERAWeek by S&P Global conference in Houston, Texas, US, on Wednesday, March 25, 2026. F. Carter Smith | Bloomberg | Getty Images HOUSTON — Interior Secretary Doug Burgum said Wednesday that the U.S. recently brought back $100 million of gold from Venezuela. Burgum visited Venezuela with […]

Read More