Chinese Magnates Pledge $100M for Scholarships

A couple who made their fortunes in founding the Chinese real estate company SOHO China are setting up a $100 million fund to send low-income Chinese students to elite universities abroad, an initiative they launched on Tuesday by signing a $15 million gift agreement with Harvard University, The Wall Street Journal reported. Zhang Xin and Pan Shiyi are looking to set up similar endowments at other universities in the U.S. and elsewhere.