China has have witnessed phenomenal economic growth in the 21st century. In sharp contrast to this wealth expansion, the nation has consistently ranked as one of the world’s least generous in terms of domestic charitable giving. Seemingly, while individuals are getting wealthier they do not show a higher level of charitable giving. This study draws data from the Chinese General Social Survey to explain this “giving puzzle”. It suggests four mechanisms – perceived socio-economic status, financial security, social trust and political efficacy – are significant contributing variables to understand the relatively low levels of charitable giving in mainland China.