Tencent co-founder gifts HK$4b to education

Chen Yidan, one of the co-founders of Tencent, has donated more than HK$4 billion (US$510 million) of the company’s shares to establish a charitable trust for educational causes, according to the Chen Yidan Foundation.

The donation procedure was completed last year. It was said that the total volume of donations contributed by Chen had reached nearly HK$10 billion, according to the Shenzhen Daily.

The money will be used to connect with quality educational projects from overseas and support new projects that are significant to the development of Chinese education.

“In today’s highly developed world, if education looks to achieve any breakthrough, it needs to have a global vision and this is more important than ever,” said Chen. “If education is for the future, then it’s a future for all mankind.” Chen added that he hopes he can further facilitate exchanges between the Chinese education system and its international counterparts.