China creates Internet foundation for public welfare

China set up a foundation on Monday to help the Internet better serve the public and improve global Internet governance cooperation.

The semi-official foundation, called China Internet Development Foundation, has been approved by the State Council and will be under the management of Cyberspace Administration of China.

Ma Li, president of the foundation, said their purpose is to "let Internet development benefit all the 1.3 billion Chinese people.

"We will hold more public welfare activities, involve more of the public and try to spread more positive energy."

Ma did not disclose how much money the foundation has raised. Beijing E-Hualu Information Technology Co., a public company, said in a filing in April its board contributed 30 million yuan (4.83 million U.S. dollars) to the establishment of the foundation.

The foundation will also support the healthy development of China's Internet, safeguard Internet security, cultivate Internet talent and enhance international cooperation in Internet governance.