USST Education Development Foundation is an independent organization legal entity officially registered in Shanghai Civil Affairs Bureau in June 2006 by the approval of Shanghai Education Committee. It is a non-public-raising foundation established for the special purpose of receiving and managing the donations to USST from all walks of life, and is one of the first units that qualify the “public welfare donations pre-tax deduction”. Approved by Shanghai National Tax Bureau and Shanghai Local Tax Bureau, the Foundation employs “the uniform note for public welfare donations” uniformly printed by Shanghai Finance Bureau. For the convenience of donations of alumni at home and abroad, USST incorporated Hongkong Foundation (USST Education Development Foundation Co., Ltd) in Hongkong in October 2005, a charity organization enjoying the same tax-exempt status. In line with the demand of the running of the university, the Foundation has set up special funds to help the development and construction of the university, reward prominent teachers, encourage and subsidize outstanding students in an attempt to boost the development of USST’s teaching and science research enterprise. Special projects that are currently run by the Foundation include: “USST Star” Scholarship, which is awarded to outstanding students with innovative spirit and practical ability in USST-affiliated schools; “Buttonwood Education Development Fund”, which sponsors the appraisal and election of USST “Best Teachers in the Eyes of Students” and the “New Competence Cup” innovation contest of School of Optical-Electrical Engineering; “Pong Yuen Scholarship and Grants”, which also sponsors the “Pong Yuen Cup” Business Simulation Contest; “Honren Student Innovation Fund”, which sponsors both the “Optical-Electrical Cup” Contest and “Honren Scholarship and Grants”; “BOTH Fund”, which sponsors “BOTH Elite Award” and “BOTH Sailing Project”; Shuicheng Fund”, which sponsors “Shuicheng C...