The chairman of China Oceanwide has donated 700 million yuan (HK$837 million) to Fudan University, mainland media reported on Monday.
The contribution by Lu Zhiqiang is the biggest single donation to the institution, Shanghai-based news portal Thepaper.cn reported.
The report said 500 million yuan would go to support research and development in financial studies centre, innovation and social science.
Another 50 million yuan would be used to set up a development fund to, among other things, recruit talent, while another 50 million yuan would be set aside for to establish an international finance institution.
READ MORE: Chinese real estate tycoon couple reject criticism of Harvard University donation
The remainder would be split between a department for entrepreneurialism and financial aid for needy students, a statement issued by the university said.