SOHO China responds to Harvard endowment

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Recently, Pan Shiyi, the board director of Chinese real estate company SOHO China, has been working a 15-million-U.S.-dollar gift agreement with Harvard University.

Pan Shiyi, chairman of SOHO China, delivers a speech at the opening of 2013 Autodesk University China in Beijing, capital of China, Nov. 5, 2013. The annual conference, which opened here on Tuesday, is a distinguished gathering of software industry. [Photo: Xinhua/Zhang Cheng]

This is part of the company's project of setting up a 100-million-U.S.-dollar endowment to send underprivileged Chinese children to elite universities around the world.

This move has sparked controversy among Chinese netizens, with many questioning why the China-based real estate giant would work with oversea colleges instead of domestic institutions.

Soho's chief executive, Zhang Xin, who is also Pan's wife, indicated during an interview that the endowment aims to assist Chinese students from impoverished families to receive education from top-leveled universities across the world.

Zhang also said in a separate interview that there are no additional conditions students receiving the aid must meet; these students are not required to return China after graduating or to work with SOHO if they return home.

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