The China Education and Culture Foundation was established in the 192s with the "boxer compensation" returned by the United States. Most of the Chinese members of the board of directors of the Foundation are outstanding figures in China's science and education circles. They have used stable sources of funds to invest in the development of science and education in China, which has accelerated the process of modernization of science and education in China. On September 18th, 1924, the China Education and Culture Foundation held its inaugural meeting in the Beijing Diplomatic Building, with Fan Yuanlian as its president and Meng Lu as its vice president. The main task of this association is to be responsible for the custody, distribution and use of boxer indemnity returned by the United States.