Supported by the Institute of Philanthropy (IoP), Economist Impact has today released The Business of Doing Good, a multi-part research series examining the range of ways that companies across Asia are embedding public benefit into business strategy. The series draws on extensive research across 13 Asian markets and insights from more than 40 executives, foundation officials, academics, and other authorities.
The initiative responds to a growing need for regionally grounded insights into corporate philanthropy—an area that is expanding rapidly across Asia but evolving on its own terms. As part of IoP’s mission to strengthen philanthropic ecosystems, the series offers practical tools to help companies align purpose with governance, operations, and stakeholder relationships. It reflects a broader shift toward strategic, locally responsive models of doing good that are distinctly shaped by Asia’s cultural, institutional, and economic dynamics.
The cover of The Business of Doing Good report.
“This research reflects our commitment to equipping leaders with regionally grounded tools for action,” said Lester Huang, Chairman of the Institute of Philanthropy. “By capturing the diverse ways companies pursue public good, the series helps to advance a more strategic and context-aware approach to corporate purpose.”
The first report, The Business of Doing Good in Asia, examines what drives companies in Asia to contribute to public good. It identifies six distinct profiles of corporate engagement—each offering a lens through which companies can assess their purpose, refine their strategy, and explore new pathways for impact:
● Values Anchor – Companies guided by enduring beliefs, often shaped by founders or family legacy.
● Government Enabler – Businesses that align with national priorities to scale impact and build legitimacy.
● Internal Advocate – Organisations that empower employees to shape and implement purpose-driven policies.
● Trust Builder – Firms that cultivate credibility in low-trust environments to unlock strategic advantage.
● Industry Accelerator – Actors that influence sector-wide standards and regulatory frameworks.
● Social Innovator – Enterprises that develop pioneering commercial models to address unmet social or environmental needs.
The second report, The Business of Doing Good in Asia: exploring profiles in action, uncovers how companies are putting these profiles into practice—through long-term investment, employee engagement, partnerships, trust-building, and data-driven decision-making. Each profile is illustrated with case studies and accompanied by reflection questions to support internal dialogue and planning.
To support practical application, an accompanying infographic distils the six profiles into a strategic tool for leadership teams, sustainability officers, and philanthropic advisors. It enables organisations to quickly assess their positioning, identify blind spots, and initiate targeted conversations around purpose alignment and impact strategy.
“In Asia, doing good has long been woven into the fabric of business,” says Charles Ross, head of policy and insights, Asia-Pacific at Economist Impact. “Shaped by cultural values, government priorities, and collective responsibility, companies across the region recognise that prosperity and purpose go hand-in-hand. Our research shows that these unique-to-Asia influences are driving more strategic and purposeful approaches to corporate doing good.”
The Business of Doing Good forms part of IoP’s wider effort to strengthen philanthropy across Asia by generating insights, building strategic tools, and fostering collaboration across sectors. By examining how companies define and operationalise purpose, the series contributes to the development of resilient, locally grounded ecosystems that can scale impact sustainably and respond to regional needs.
The full series—including case studies, strategic frameworks, and planning tools—is available for download now: The Business of Doing Good.
As one of the highlights of The Hong Kong Jockey Club’s Year of the Horse campaign, the Hong Kong Palace Museum and the Palace Museum, with exclusive sponsorship from the Institute of Philanthropy (IoP), today launched “Heavenly Horses: Masterpieces from the Palace Museum”. Presenting nearly 100 horse‑themed paintings from more than 60 renowned artists, spanning the Yuan dynasty to the 20th century, the exhibition celebrates the horses as an enduring symbol of perseverance, vitality and national spirit in Chinese culture.
Guests tour the “Heavenly Horses: Masterpieces from the Palace Museum” exhibition.
The exhibition is part of a five-year collaboration between the Palace Museum and IoP to promote Chinese culture and nurture arts-technology talent in Hong Kong and the Chinese Mainland. The aim is to help the younger generation deepen its understanding and appreciation of Chinese culture, while showcasing it in fresh, digital ways. Through interactive experiences with artificial intelligence, lectures and workshops, the exhibition highlights how technology can bring tradition to life. Beyond artistic appreciation, it underscores the strategic role of culture in fostering identity and pride, and in strengthening social cohesion across Hong Kong and the Chinese Mainland.
Officiating guests at the launch ceremony were HKSAR Deputy Financial Secretary, Michael Wong Wai-lun (5th left); Deputy Director General of the Department of Publicity, Cultural and Sports Affairs of the Liaison Office of the Central People’s Government in the HKSAR, Lin Nan (4th right); Executive Deputy Director of the Palace Museum, Lou Wei (5th right); Chairman of The Hong Kong Jockey Club, The Hon Martin Liao (4th left); Deputy Chairman of The Hong Kong Jockey Club and IoP Chairman, Lester Huang (3rd right); Trustee of The Hong Kong Jockey Club Charities Trust and Deputy Chairman of IoP, Ann Kung (2nd right); Chief Executive Officer of The Hong Kong Jockey Club and IoP Director, Winfried Engelbrecht-Bresges (2nd left); Chairman of the Board of Hong Kong Palace Museum, Leo Kung (3rd left); Chief Executive Officer of the West Kowloon Cultural District Authority, Betty Fung (1st left); and Museum Director of the Hong Kong Palace Museum, Dr Louis Ng (1st right).
Officiating guests at the launch ceremony were HKSAR Deputy Financial Secretary Michael Wong Wai-lun; Deputy Director General of the Department of Publicity, Cultural and Sports Affairs of the Liaison Office of the Central People’s Government in the HKSAR, Lin Nan; Executive Deputy Director of the Palace Museum, Lou Wei; Chairman of The Hong Kong Jockey Club, The Hon Martin Liao; Deputy Chairman of The Hong Kong Jockey Club and IoP Chairman, Lester Huang; Trustee of The Hong Kong Jockey Club Charities Trust and Deputy Chairman of IoP, Ann Kung; Chief Executive Officer of The Hong Kong Jockey Club and IoP Director, Winfried Engelbrecht-Bresges; Chairman of the Board of Hong Kong Palace Museum, Leo Kung; Chief Executive Officer of the West Kowloon Cultural District Authority, Betty Fung; and Museum Director of the Hong Kong Palace Museum, Dr Louis Ng.
Guests tour the “Heavenly Horses: Masterpieces from the Palace Museum” exhibition.
Speaking at the ceremony, Michael Wong, Deputy Financial Secretary of the Government of the HKSAR, expressed his gratitude to the Hong Kong Palace Museum and the Palace Museum for jointly organising this exhibition, bringing nearly 100 precious equine paintings to Hong Kong. “Since its opening in 2022, the Hong Kong Palace Museum has greatly contributed to promoting cultural tourism in Hong Kong, staging more than thirty exhibitions and welcoming over four million visitors to date,” he said. “The museum has become a must-visit destination for many tourists to Hong Kong. It has exerted tremendous international influence in telling the good stories of Hong Kong and the Chinese Mainland, further promoting Chinese culture.”
The exhibition is one of the highlights of The Hong Kong Jockey Club’s Year of the Horse campaign, presenting nearly 100 horse‑themed paintings spanning the Yuan dynasty to the 20th century.
The Hon Martin Liao, Chairman of The Hong Kong Jockey Club, a founding funder of IoP together with its Charities Trust, said, “The Hong Kong Jockey Club and its Charities Trust established the Institute of Philanthropy as an independent ‘think-fund do’ tank for China, Asia and beyond. In 2024, IoP announced a donation of RMB 371 million to launch a five-year collaboration programme with the Palace Museum to promote the excellence of traditional Chinese culture, and to deepen understanding and recognition of Chinese history and culture among younger generations in Hong Kong and the Chinese Mainland. This exhibition is a key component of the programme and one of the highlights of The Hong Kong Jockey Club’s Year of the Horse campaign. Featuring a variety of cultural, arts and community initiatives throughout the year, we aim to spread joyful celebration across the city, promote tourism and advance the development of sports, including horse sports.”
The Hon Martin Liao, Chairman of The Hong Kong Jockey Club, delivers a speech at the launch ceremony of the “Heavenly Horses: Masterpieces from the Palace Museum” exhibition.
Lou Wei, Executive Deputy Director of the Palace Museum, added, “The Palace Museum has long maintained a close partnership with the Hong Kong Palace Museum, collaborating to showcase the finest of Chinese art and culture to both local and international audiences, and to promote cultural exchange and mutual understanding. This exhibition forms an integral part of a five-year collaboration between the Palace Museum and the Institute of Philanthropy, which aims to promote Chinese culture and nurture arts-technology talent. Horses were not only a vital means of travel in ancient times and representations of ceremonial standards, they also served as the foundation of national defence. They stand as a vivid symbol of the Chinese nation’s resilience and unwavering spirit. With a focus on equine motifs, ‘Heavenly Horses’ guides visitors to explore the artistic vision of renowned masters and uncovers the social landscapes, spiritual aspiration, and cultural exchanges of different eras, offering a deeper understanding of the profound richness and refined subtleties of Chinese civilisation.”
Guests tour the “Heavenly Horses: Masterpieces from the Palace Museum” exhibition.
As part of this collaboration, IoP is advancing a strategy of cultural dissemination that combines digital innovation with traditional heritage. The goal is to nurture a generation that carries a strong sense of national identity while engaging confidently with the world, deepening recognition of Chinese history and culture both locally and globally. Building on this vision, IoP is seeking synergy to inspire innovative ideas to address the needs of Hong Kong and the Chinese Mainland – contributing to wisdom and solutions that promote the development of national and global philanthropy.
The exhibition is one of the highlights of The Hong Kong Jockey Club’s Year of the Horse campaign, presenting nearly 100 horse‑themed paintings spanning the Yuan dynasty to the 20th century.
The exhibition is part of the Club’s Year of the Horse campaign, which aims to honour the profound partnership between human and horse and to unite the community through thrilling races, international equestrian spectacles and a special series of cultural, sporting and family events. The year-long campaign is a community celebration, a tourist attraction and an opportunity to promote equine and community sports development. Complimentary tickets and free guided tours of the exhibition will be provided to underprivileged groups and students.
