US$1 Million Prize to Award Distinguished Scientists   

Social and cultural progress has always depended on the tireless efforts of men and women of great talent. Their innovations and inventions in various spheres of human activity have been the foundation of civilization; their pioneering spirit is rightly admired throughout the world. The establishment of the Nobel Prize at the beginning of the last century is a milestone in the history of humankind. Its impact on the development of science and technology in the 20th century is of vital significance.

The development of science and technology will advance at a faster pace in the 21st century, bringing many more remarkable changes to our life. The establishment of The Shaw Prize at the dawn of this new century has a profound meaning as well as far-reaching influence. The Prize honours individuals, regardless of race, nationality, and religious belief, who have achieved significant breakthrough in academic and scientific research or application, and whose work has resulted in a positive and profound impact on humankind.

The Shaw Prize currently consists of three annual awards: the Prize in Astronomy, the Prize in Life Science and Medicine, and the Prize in Mathematical Sciences. Each prize carries a monetary award of US$1 million. The adjudication process will begin next summer, and the first prize presentation will be held in mid 2004.

The Shaw Prize is an international award managed and administered by The Shaw Prize Foundation based in Hong Kong. The Foundation is composed of four parts. The Board of Directors manages finances and makes appointments. The Board of Management formulates policies and supervises the Secretariat, which is the executive unit. The Board of Adjudicators, chaired by Professor Chen-Ning Yang , Nobel laureate in physics, is responsible for the selection of awardees. Under the Board are three committees, one for each prize, which handle the task of inviting nominations and adjudicating on the candidates.

15 November 2002, Hong Kong