The Chinese Foundation is short for the “China Foundation for the Promotion of Education and Culture.” It came into being in 1924, and was responsible for the looking after and allocating balance of the Boxer Indemnity returned by the United States. The Foundation concentrated on scientific education, scientific research and application, as well as cultural undertakings falling under the category of having a permanent nature (such as libraries). Its work direction and focus has had an important influence on the development of modern Chinese science.