The Shanghai Charity Foundation, the country's first provincial/municipal-level charity foundation in China, announced its "love relay" tale of the past quarter century: 12.2 billion yuan (US$1.8 billion). Since 1994, it has helped over 12 million people with about 9.3 billion yuan. The foundation was created to address the people affected by the city’s changing social landscape with the establishment of a market-oriented economy in China.