On November 30, 2021, Dr. Charles Huang, a 1982 graduate of the Economics and Management School at Wuhan University, and also the founder and chairman of Pasaca Capital Inc. and founder of Innova Medical Group, donated US$40 million to his alma mater through his private foundation, the Charles Huang Foundation (CHF), as a gift for the celebration of wuhan University 128th anniversary. This philanthropic gift is the single-largest foreign currency donation ever received by WHU.

The US$40 million funding is used to support six programs, including the Pasaca/Innova Endowed Chair Fund, the Innova Excellence Scholarship Program, the Innova Award for Undergraduate Innovation Achievement, the Innova International Exchange Scholarship Program, the Innova Center for Innovation and Entrepreneurship and the Pasaca Education Fund for the Economics and Management School of Wuhan University. These programs aim to provide significant and long-lasting support for Wuhan University to attract and recruit top scholars, develop and create innovative and entrepreneurial talents with exceptional leadership skills, promote international exchange, improve campus infrastructure and advance research and teaching capabilities, especially in the field of management science in the Economics and Management School.

The funding contributes Wuhan University's development into a world-class university with Chinese characteristics by recruiting top talents, fostering top-notch innovative students, enhancing the level of academic science and research innovation capability and improving campus infrastructure.