Shaw Prize in Mathematics, Shaw Prize in Astronomy and Shaw Prize in Life Science and Medicine are nominated for review every September. The results will be announced in the summer of the following year, and the award ceremony will be held in autumn. All awards are judged by the judging committee under the Shaw Prize Foundation. In 2004, the winner of Run Run Run Run Shaw Award received a prize of $1000000, a medal and a certificate. The Shaw Prize, with a huge prize of US$ 654.38+0 million, is comparable to the Nobel Prize, which is regarded as the highest prize in international natural science, so it is called the Oriental Nobel Prize in 2654.38+0 century. Mr. Shao Yifu's ancestral home is Zhenhai, Ningbo. Since the1920s, he has devoted himself to film production in Shanghai and Hong Kong, and since the1970s, he has served as the executive chairman of Wireless, the largest television station in Hong Kong. Shaw Charitable Trust Fund and Shaw Fund Co., Ltd., which he founded, are committed to supporting the development of education, scientific research, medical welfare and cultural undertakings. The funds donated to education, science, culture and health undertakings in the Mainland alone exceed HK$ 2.5 billion. As early as 1985, he had the intention of rewarding outstanding scientists. Later, at the initiative of Professor Marin, the former president of CUHK, he finally established the "Shaw Prize".

According to the articles of association, Shaw Prize Foundation (located in Hong Kong) consists of four parts: the board of directors, the jury and the secretariat. The jury will be responsible for selecting the winner; It has three award committees, each with a chief judge and four judges, who are responsible for nominating and selecting candidates. Professor Yang Zhenning, a famous physicist and Nobel Prize winner, is the chairman of the jury, and the judges are appointed by experts from all over the world in a limited time. The selection begins in June each year, the winners are announced in June the following year, and the awards are presented in August.

The first prize presentation ceremony was held in Hong Kong on September 7th, 2004. On the obverse of the medal is a relief statue of Sir Run Run Run Run by Sir Run Run Run by the Chinese and English characters. The back of the medal shows the award, the relevant award year and the name of the winner of that year. In the upper right corner is the seal of China's famous sentence "Master the destiny and use it" (quoted from Xunzi, a thinker in the Warring States Period in China history-365438 BC+03 BC-238 BC), which means "Master the laws of nature and use them".