The scholarship was proposed by the offspring of noted Chinese historian Fang Guoyu（1903—1983）to cultivate talents and encourage students in Yunnan University to improve their study.
The scholarship was proposed in 1989 to commemorate Xiong Qinglai, carry forward his devotion to scientific research, and inspire the students to develop their abilities in an all-round way.
The foundation plays an active role in Japan and is influential across the globe. It started from maritime and shipping business and extended to fields such as education, social welfare and public health.
The scholarship was established to encourage impoverished students with good grades to continue working hard.
The scholarships are provided by Yunnan University to encourage the students to work hard and develop themselves in an all-round way.