A Chinese piano-maker has won over the hearts of musicians. Chen Hailun has received the 2016 Schumpeter Award, a prize that in the past has only been awarded to innovation in business management, economics and economic policy.

This is the first time the Schumpeter Award is given to a Chinese, and to recognize excellence in the realm of music, since it was first created 26 years ago.

A solo performance on a piano made by the Prize winner Chen Hailun and his Austrian partners was a highlight of the award ceremony at the Vienna City Hall.

"The bonus I got this time would all be donated to youth piano competitions in the coming three years. I want to thank my partners and the award organization," Chen said.

Chen started his piano-making business in 1995, then producing only various parts of the piano. Ten years later, his company was finally able to produce a whole piano, though an ordinary one.

Chen and his wife then traveled extensively to such countries as Germany, Austria, U.S. and Japan to learn and refine their craft. Twenty years later, Hailun Piano now ranks as the fourth biggest piano-maker in the world.

"I know many pianists who have their own tastes of picking a piano. Some like Bosendorfer, some like Steinway, while some like the Japanese brand Yamaha. But I think all the pianists I know would love this one," said Franz Vranitzky, former chancellor, Austria.

Chen says that Chinese manufacturers should be more confident about their products, which would also mean more opportunities for international cooperation.