On October 18, 2020, the CUSPEA Foundation for the Advancement of Science and Technology announced the CUSPEA Prize at the 2020 World Young Scientist Summit in Wenzhou, Zhejiang. 

It is an international award to honour young distinguished scientists who have made outstanding contributions to promote scientific exchanges and collaborations in any scientific fields. The prize will be awarded to selected individuals regardless of nationality after an impartial review by the CUSPEA Prize Award Committee formed by distinguished scientists and chaired by Sir Anthony J. Leggett, Nobel Prize Laureate in Physics (2003). The first CUSPEA PRIZE will be awarded in 2021.