Tencent (0700.HK) and Tsinghua University held the signing ceremony for Tencent's first university scholarship fund on May 9, reports qq.com. Under the agreement, Tencent will award Tsinghua students with a total of RMB 90,000 in scholarships each year. The scholarships will be divided into five RMB 6,000 awards for two doctoral and graduate students and 15 RMB 4,000 awards for 10 doctoral or graduate and five undergraduate candidates, said the report. Tencent established its charity foundation with RMB 20 million in July, 2007.