Zhao Baige, executive vice president of the RCSC, said on Friday at a press conference that the RCSC will release the investigative report to the public by the end of this year.

The Red Cross Society of China (RCSC) announced reforms on Friday, saying it will establish a top-down system to monitor donations and introduce monitors outside the system to be more transparent and open with its information.

The RCSC has been trapped in a credibility crisis after the Guo Meimei scandal, in which a Chinese woman who claimed to be related to the RCSC flaunted her riches, broke out in June, which led to questions being raised about possible embezzlement.

Responding to the Guo scandal, Zhao Baige, executive vice president of the RCSC, said on Friday at a press conference that the RCSC will release the investigative report to the public by the end of this year.

Zhao said that the organization will strengthen the management of staff, finances and donations and also introduce supervision committees to observe the system by the end of 2012.

The supervision is only limited to the RCSC and its branches nationwide, not companies loosely related to the organization.

The RCSC plans to reform its decision-making mechanism by organizing specialized committees and a think tank.

"What the RCSC is trying to do is admirable, but it needs to do more to reestablish public trust after so many scandals this year," Wang Zhenyao, President of the One Foundation Research Institute at Beijing Normal University, told the Global Times on Friday, adding that the RCSC is setting a good example for other charitable organizations.

"We are not saying all the money or government support should be taken away from the RCSC. There's plenty that can be done to improve the system as a whole," Wang said.

"RCSC or any other charitable organizations can improve to better the interests of the public and to increase its service quality by cooperating with non-governmental organizations and specialized service teams," Wang added.

Though the Guo Meimei scandal was not the first one exposed this year, the RCSC's nightmare did not end quickly. In the same month when the scandal drew heated debates online, the National Audit Office published audit reports showing that the RCSC had a 4.2 million yuan ($665,000) deficit in purchases.

The organization opened its own microblog account in July to answer questions.

Since scandals began, the RCSC has collected fewer donations from individuals, according to a report delivered at its council meeting on December 7.

Huang Shaojie contributed to this story