BEIJING - The China Siyuan Foundation for Poverty Alleviation said it raised funds and materials worth 2.6 billion yuan ($395.6 million) to help about 20 million people in need since its inauguration in 2007.

The foundation made the remarks at a recent forum on corporate social responsibility in Beijing.

In cooperation with leading e-commerce platforms, the foundation initiated a coalition to help farmers from poverty-stricken areas to promote their products in 2018, which has resulted in sales of agricultural products worth 11 billion yuan by the end of October.

The foundation was established by the Central Committee of China National Democratic Construction Association, aiming to prompt enterprise engagement in poverty relief and other charity projects.