The British Museum said on Wednesday it would receive 1,700 pieces of world-renowned Chinese ceramics worth around 1 billion pounds ($1.27 billion), in the largest donation in its nearly 300-year history.

The British Museum has received a donation of Chinese treasures worth more than $1 billion from the Sir Percival David Foundation.

The British Museum is to receive the highest-value gift in UK museum history as it acquires £1 billion worth of Chinese ceramics. Trustees of the Sir Percival David Foundation are to donate 1,700 pieces to the London museum, based in the city’s Bloomsbury area.

The British Museum is to be given Chinese ceramics worth £1bn in what is believed to be the highest-value gift received by a UK museum. The addition of the items from the Sir Percival David Foundation will also make the museum's stock of the antiques one of the most important outside of the Chinese-speaking world.

Sir Percival David’s collection, amassed in the early 1900s, includes prized vases and wine cups. “You simply couldn’t build up a collection like this today,” one expert said.

The British Museum is to receive what is believed to be the highest-value gift ever received by a UK museum with the acquisition of £1bn worth of Chinese ceramics. Trustees of the Sir Percival David Foundation,