It was suggested by Tung Chee-hwa, former Chief Executive of Hong Kong, in his first policy address in October 1997.

[1] After the fund was set up, it obtained five billion HKD from the Government of Hong Kong to support its long-term operation.

[4] On 15 October 2001, Audit Commission published a report named "Management of the Quality Education Fund".

During an interview, Fanny Law, former permanent secretary of Education and Manpower Bureau, said, "Some schools seem to stipulate that every teacher needs to write some suggestion, creating intangible pressure in the process.

Successful applications are uploaded to the fund's website (Cyber Resource Centre) for others to reference.