Alibaba founder Jack Ma sets up Australian scholarship programme in honour of late friend

Jack Ma, left, and David Morley at West Lake, Beijing, during the Morley family

BEIJING: Chinese billionaire Jack Ma plans to donate US$20 million to fund a scholarship at an Australian university to honour a late friend from Newcastle, New South Wales.

The University of Newcastle announced the establishment of the scholarship on Friday, funded by Alibaba founder and executive chairman, Jack Ma, through the Jack Ma Foundation. Alibaba owns the South China Morning Post.