Three Real Estate Developers Donating to Chinese Universities
In Oct, three Chinese real estate developers Hengda (Hubei), Taihe (Fujian), Biguiyuan (Guandong) had decided to donate to China’s tertiary sector. They each donate to Wuhan S&T University (RMB100m), Fuzhou University (RMB300m) and a RMB2.2 billion scheduled donation to Tsinghua University in the next 10 years.
Hengda Group Founder XU Jiayin entered Wuhan S&T University in 1978. His donation will be used to establish “XU Jiayin” Scholarship and a building named after his company Hengda.
Taihe Founder HUANG QIsen entered Fujian University in 1980, his large amount of donation will be used to build a music hall in Fuzhou University.
Biguiyuan’s Guoqing Foundation (named after its President YANG Guoqiang) is managed by YANG Huiyan, the 2nd daughter of the President, a spouse of a Tsinghua chemical graduate. This is the single largest donation in Tsinghua’s history, the fund will be used for R&D in particular AI, Bio Sciences , attracting high-end talents and offer scholarship for students from lower income families. The other two closely matched donations were made by Shanghai Zhuozhen Investment Company to Zhejiang University and by Xiong Xinxiang to China Electronic and Sciences University, were RMB1.1billion and RMB1.03 billion respectively.