Mercedes-Benz Star Fund Established in China

Nurturing the World of Tomorrow

Jun 30, 2010, 08:00 ET from Mercedes-Benz (China) Ltd

BEIJING, June 30 /PRNewswire-Asia/ -- Mercedes-Benz (China) Ltd today announced the establishment of the Mercedes-Benz Star Fund with a start-up fund of RMB 30 million in partnership with the China Youth Development Foundation (CYDF). The Mercedes-Benz Star Fund, the automaker's first-ever charity fund in collaboration with nationwide dealers and one of the largest start-up charity funds in Chinese auto industry, came into effect in a ceremony held at the Great Hall of the People.

(Photo: http://www.newscom.com/cgi-bin/prnh/20100630/CNW004 )

(Photo: http://photos.prnewswire.com/prnh/20100630/CNW004 )

Giving a lively start to the partnership, Mercedes-Benz also kicked-off the "Mercedes-Benz Happy Music Classroom Program" with CYDF to furnish 125 music classrooms across Hope Schools in China and helping about 40,000 children in rural areas gain access to proper music education.

Under the slogan of "Nurturing the World of Tomorrow," the new Mercedes-Benz Star Fund provides an integrated CSR platform that supports its five core CSR pillars of nature protection, music and arts, sports, culture of driving and other cause-worthy or disaster relief programs. The new initiative not only clearly signifies Mercedes-Benz's long-term commitment to social causes in China but also sets a sustainable cause model.

"Proactively shouldering social obligations is an important part of our global strategy. With the Star Fund, we are launching several programs engaged in the fields of education and development of young students, nature protection and disaster relief and many others," said Mr. Ulrich Walker, Chairman and CEO of Daimler Northeast Asia. "The Star Fund is the largest amount of start-up fund among Mercedes-Benz globally, and today's establishment of the all-encompassing platform, demonstrates not only our CSR culture but also our commitment to the Chinese market."

The Mercedes-Benz Star Fund marks a new milestone for Mercedes-Benz, adding on to the automaker's invaluable CSR contributions in China, which have been highly recognized by strategic partners including UNESCO, NCPA and CTA.

Mr Klaus Maier, President and CEO of Mercedes-Benz (China) Ltd, said, "Along with the support from CYDF and over 140 dealer partners across China, the launch of Mercedes-Benz Star Fund today reinforces our deep-rooted commitment to social causes in China in shaping a better world of tomorrow with our actions today. With such an integrated platform, we have an even greater access to reach more people in China."

The China Youth Development Foundation -- the automaker's partner of the newly-launched Mercedes-Benz Star Fund -- stands as one of the most influential NGOs in China. The organization has initiated Project Hope, which has been successful in offering education opportunities to millions of rural children in China.

Commenting on the organization's new partnership with Mercedes-Benz, Mr Tu Meng, Secretary-General of CYDF said: "We are a strong advocate of the values of social responsibility, human progress and development, and the pursuit of excellence in everything that we do -- which are in perfect match with Mercedes-Benz's CSR values. We believe that we will have a harmonious cooperation and make good use of our resources to maximize social benefits. Furthermore, with the launch of the Mercedes-Benz Happy Music Classroom program as our first-joint initiative, we are hopeful that we will enrich the lives of underprivileged children in Hope Schools with the joy of music."

As the three-pointed star ushers in its 125th anniversary next year, the company celebrates not only 125 years of bringing high-quality products to customers, but also celebrating 125 years of contributing to the well-being of society. Mercedes-Benz will continue with its commitment towards social causes in China through its integrated Mercedes-Benz Star Fund platform, making a difference to the lives and conditions of beneficiaries.

The essence of Mercedes-Benz's core values lies in philanthropy and generous love for the welfare of the society. With Mercedes-Benz's relentless pursuit in CSR, today's establishment of Star Fund is set to have an even greater impact on society, setting an even greater imprint of the three-pointed star.

SOURCE Mercedes-Benz (China) Ltd