Chinese e-commerce website JD.com has made a monetary commitment to support higher education in China.
The company and Renmin University of China recently held a donation ceremony during which JD.com and its CEO Liu Qiangdong both donated to establish scholarships at the school in Beijing.
The scholarship funded by JD.com aims to support high academic achievers and students from poor families; while the one funded by Liu will be used to promote social practice and scientific innovation at the sociology and population institute. This is reportedly the first time for Liu to set up a scholarship in his own name.
To set up the Jingdong scholarship, the group will donate CNY3 million in the first year and CNY1 million each year in the following seven years, totaling CNY10 million. In addition, Liu himself donates CNY1 million to the sociology and population institute of Renmin University of China to set up the Qiangdong scholarship.
JD.com also announced that by the end of 2012, the company had supported over 1,000 students from poor families; helped over 5,000 people during disasters; and donated over CNY3.5 million in medical fees to sick children. During past years, the company's reportedly donation reached over CNY20 million.