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Tuesday, January 29, 2013
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‘Nobel prize' of Asia launched

Samuel Yin

One of Taiwan's richest men yesterday launched what has been widely touted as the Asian equivalent of the Nobel Prize, and it is even more lucrative than the famed Swedish award.

Samuel Yin, head of the Ruentex business empire which has invested heavily in China, said that by donating Tw$3 billion ($101 million) for the Tang Prize he had fulfilled one of his biggest dreams.

"I hope that the prize will encourage more research that is beneficial to the world and humankind, promote Chinese culture and make the world a better place," he said in a statement.

The prize is named after China's Tang Dynasty (618-907), which is much admired by Yin, said the statement released by the prize foundation.

Beginning in 2014 prizes will be awarded every two years in four different categories -- sustainable development, biopharmaceutical science, sinology and the "rule of law" -- to individuals, regardless of nationality.

The winner in each category will receive Tw$50 million ($1.7 million), compared to the eight million Swedish kronor ($1.2 million) that comes with a Nobel Prize.

Nobel Prizes are awarded in the fields of physics, chemistry, physiology or medicine, literature and peace.

The Tang Prize will help raise Taiwan's profile in the international scientific community, the statement added.

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Please do not give to Dr Yunus --he is in lot of trouble for getting the other one. But I heard BD PM wants one.

: rch

A very good initiative indeed to promote research in the fields not clear to me except that one or two political subjects, likely to generate controversy, have been included. We need more information about the fields covered by this innovative prize from Taiwan. We are not aware whether Nobel Peace Prize winners are exempted from paying taxes in Norway or their own country. What would be the net amount of the prize if tax is payable in Taiwan and the winner's own country. It is better to know in totality including my funny question and ignorance about taxation policy on prize money both for the Nobel Prize winners and the Tang Prize winners.

: neutral





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