Jack Ma launches Aussie scholarship

Australia's University of Newcastle recently announced the setting up of a scholarship program supported by China's Jack Ma Foundation. The foundation will give $20 million to fund a first-of-its-kind scholarship program, marking the largest philanthropic commitment in UON's history and the Jack Ma Foundation's first philanthropic contribution in Australia.

Alibaba founder Ma was joined by New South Wales Premier Gladys Berejiklian, UON Chancellor Paul Jeans and others at the announcement in Newcastle.

As a teenager, Mamet Ken Morley and his family, who were on a tour with the Australia-China Friendship Society in Ma's hometown, Hangzhou. Ma and Morley remained close friends until Morley's death in 2004.