The Tao Fong Literary Prize was first established by the Institute of Sino-Christian Studies (ISCS) in 1999 for the purpose of encouraging academic studies of Christianity in the Chinese academia, furthering the development of Sino-Christian theology in the Chinese context, and promoting academic and cultural exchange between East and West.

A total of two awards are given to scholars respectively for the purpose of recognizing their outstanding original contributions in deepening and broadening academic studies and understanding of Christianity. 

The ISCS is responsible for the routine management and organizing work of the Prize.

I. The Paul Hsu (Xu Guangqi) Prize: It is awarded every 5-8 years to the person for their most outstanding original work in Sino-Christian studies in the time period concerned. 

II. The Karl L. Reichelt Prize: It is awarded every 5-8 years to the person for their most outstanding Chinese translation of an important work in Sino-Christian studies in the time period concerned. 

The prize winners will receive a cash prize of HKD $5000 and an award plaque respectively.