The Cheung On Tak Charity Foundation has recently made a generous donation of HK$10 million to Hong Kong Baptist University, of which HK$6 million is used to support the establishment of the "Cheung On Tak International Award for Outstanding Contribution to Chinese Medicine".  The Award will be conferred on scholars with outstanding achievements in areas such as Chinese medicine research and services, nurturing of Chinese medicine talents, and promotion of international exchange on Chinese medicine.  The remaining HK$4 million is designated for the establishment of the "Cheung On Tak Endowment Fund" for the University's institutional advancement.

In recognition of the Foundation's generosity, the Cheque Presentation Ceremony for the Donation by the Cheung On Tak Charity Foundation cum Inauguration Ceremony for the Cheung On Tak International Award for Outstanding Contribution to Chinese Medicine was held on 27 January 2011 on campus.

Officiating guests of the Ceremony were Mr. Cheung On Tak, Founder of Cheung On Tak Charity Foundation; Mr. Cheng Yan Kee, JP, Deputy Chairman of the University Council and the Court; Professor Albert S.C. Chan, President and Vice-Chancellor; and Professor Liu Liang, Dean of Chinese Medicine.

In his speech, Professor Albert S.C. Chan expressed his warm gratitude to the Cheung On Tak Charity Foundation for its substantial donation to the University, which will be designated for the establishment of the Cheung On Tak International Award for Outstanding Contribution to Chinese Medicine, and is undoubtedly a great encouragement to the University.

The Ceremony was well attended by family members and guests of Mr. Cheung On Tak, including Mr. Gavin Cheung and Miss Caris Cheung, Committee Members of the Selection Committee of the first Award such as Dr. Ko Wing Man, BBS, JP, Chairman of Advisory Committee of School of Chinese Medicine; Professor Leung Ping Chung, SBS, OBE, JP, Director of Institute of Chinese Medicine of the Chinese University of Hong Kong; and Professor So Kwok Fai, Chair Professor and Head of Department of Anatomy of the University of Hong Kong; and also supporters and friends of HKBU such as Mr. Choi Hin To, Managing Director of Hong Kong Garment Manufacturing Co., Ltd.; and Mr. So Chung Ping, Chairman of the Executive Committee of Tsim Sha Tsui District Kai Fong Welfare Association, as well as staff and students.