China's largest milk producer, Mengniu Dairy Co., announced yesterday that the company's founder Niu Gensheng has put his overseas stake of ownership into the Hengxin Trust to promote charity.

The company said the trust is irrevocable, but declined to tell the amount of the stock given to the trust.

The beneficiaries of the trust include Red Cross Society of China, China Foundation for Poverty Alleviation, The Nature Conservancy and Inner Mongolia Charity Association.

China's business press carried the story above on Wednesday. China.org.cn has not checked the stories and does not vouch for their accuracy.