Jack Ma announced the donation on Thursdayon social media platform, Weibo, stating:
‘The Jack Ma Foundation will exhaust our abilities to provide more help to the development and growth of medical science.’
Ma's foundation said it had it has donated 100 million yuan to "support the development of a coronavirus vaccine."
"We know that the battle between humanity and disease is a long journey. This money will help various medical research efforts and help disease prevention," it added.
Coronaviruses are a family of diseases which include the common cold and the virus which caused Severe Acute Respiratory Syndrome (SARS), which originated in China in 2002 and killed nearly 800 people around the world.
It causes flu-like symptoms and can make it hard for people to breathe, with a lot of people worldwide now dead after contracting the illness.
The World Health Organisation (WH0) emergency committee is expected to declare Coronavirus an international public health emergency any time from now.
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