Hong Kong's independent charity group HK Community Chest announced Monday it has raised a record high donation of 278 million HK dollars in the past year despite the slow economic recovery in the city.

Speaking at the 41st annual meeting of the group, Margaret Leung, in charge of its campaign committee, said the Chest not only surpassed its annual target by more than 37 percent but also set a new fund-raising record totaling 278 million HK dollars in the 2009-2010 year.

Given the urgent need for high-quality social welfare services in HK, the Chest will make allocation recommendations to other non- Chest members in addition to allocating funds to its 148 member agencies, the body's budget committee said.

Meanwhile, the Chest has set aside 15 million HK dollars for 12 projects benefiting elders, providing support for cross border family and so on.

The Chest elected on the day seven new members of the board for the coming year and also presented gifts to six retiring members.

HK Community Chest, founded in 1968, gives out all the donations it receives to over 140 member agencies and relies on the HK Jockey Club for operation fees.