It was initiated by Mr. Cao Qiyong, vice chairman of Hong Kong Yongxin Enterprise Co., Ltd. and director of Shanghai Jiaotong University. Hong Kong Baixian Education Foundation was established by Mr. Cao Qiyong, vice chairman of Hong Kong Yongxin Investment Holdings Co., Ltd. and director of Shanghai Jiaotong University, and his family with a donation of about12 years. Mr. Cao Qiyong graduated from the Engineering Department of Tokyo University. The Baixian Education Foundation established the "Asian Future Leaders Scholarship Program" through Baixian Asia Research Institute, and fully funded outstanding students to study in top universities in Asia, with a total prize of 50,000 US dollars.