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Chinese Magnates Pledge $100M for Scholarships

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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 Journalreported. Zhang Xin and Pan Shiyi are looking to set up similar endowments at other universities in the U.S. and elsewhere.

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