UHV School of Business receives $600,000 from Chinese businessman
Oct. 18, 2013 at 5:18 a.m.
The University of Houston-Victoria has received its third-largest donation.
Bingxin Wu, a Chinese businessman, and his wife, Shuqin Feng, donated $600,000 to the UHV School of Business Administration - the largest yet for the school, said Farhang Niroomand, the school's dean.
The contribution will establish a center - named after the couple - for international business education. It will be home to a global leadership lecture series and an expanded executive-in-residence program, Niroomand said.
The money will also be used to provide scholarships for students to study abroad in China.
"It's very important and essential for our school to have this wonderful financial support so that our students can receive firsthand international business education and participate in the global marketplace," he said.
The school received $100,000 in September and will receive $125,000 each year over the next four years, he added.
UHV will provide up to $2,000 in travel scholarships for 15 undergraduate and graduate students qualified to study abroad in China, according to a UHV news release. UHV also will provide $500 scholarships to qualified master's of business administration students who speak Mandarin or Cantonese.
Niroomand was in China over the summer for classes and talked to Wu, who is the board chairman of Sanzhu Group, Beijing Genetic Engineering Research Institute and Beijing Nuozhou Institute of Biology, about contributing.
Jifu Wang, a UHV associate management professor, also knows Wu and has for about seven years. Wang was invited to give a seminar at the Central University of Finance and Economics School of Government Administration in Beijing, according to a UHV news release.
The two stayed in touch, and when Wang was interim dean of the UHV School of Business Administration in 2008, he invited Wu to the university, according to a news release. Wu gave several lectures at UH Sugar Land and the UH System at Cinco Ranch, where UHV offers many of the programs, and came to Victoria to meet university administrators and watch a baseball game, the release continued.
To date, the largest individual donation was from Albert Alkek in 1988 for $1 million for the Alkek Scholarship Endowment as part of UHV's first capital campaign.
Dorothy Alcorn, who was on the board of regents, went to Houston to meet Alkek with then-UHV President Glenn Goerke.
The conversation was simple, she said.
"It went a little something like 'We would like $1 million,' and he pulled out his checkbook right then," Alcorn said. "We almost fainted."
The University of Houston-Victoria contributed to this report.