(XINHUA)

Xu Rongmao, founder and Chairman of Shanghai-based Shimao Property, has been ranked as China's top philanthropist by an annual list compiled by China Philanthropy Times.

According to the list, which was released in late April, the 64-year-old Fujian-born real estate billionaire donated a total of 370 million yuan ($59.7 million) during 2013. For years, Xu's donations have funded the prevention and treatment of HIV-AIDS, construction of new hospitals and schools as well as scholarships to children living in shantytowns across China.