Billionaire Duan Yongping and his wife Liu Xin are a philanthropist couple on a grand scale. They co-founded Xinping Foundation in 2008, a charity group focusing on education promotion.
Now they have raised $30 million for Renmin University. $15.5 million will be allotted for a Matching Gift Fund, an innovative method relatively new in China that will match donations by tertiary parties to the university.
$10 million will be assigned for student loans, $4 million for a new library and $500,000 for a journalistic research fund.
China Daily reports that in September 2006, Duan donated $37 million, a record high at that time, to east China’s Zhejiang University, where he studied wireless electronics engineering as an undergraduate from 1977 to 1982.