A US financial tycoon sets up a US$300 million scholarship in China

A US financial tycoon sets up a US$300 million scholarship in China Stephen Schwarzman (Chinese name Schwarzman), the founder of the private equity giant Blackstone Group, announced in Beijing on the 21st that...

“As security and economic frictions between China and the West increase, Wall Street financiers and business leaders are becoming increasingly anxious,” the New York Times article on the 21st stated that the establishment of the “Schwarzman Scholars Program” reflects China’s “huge importance.” Schwarzman said that as long as China's economic growth rate continues to be two or three times faster than the U.S. economy, China will become the world's largest economy in the next 20 years, and the relationship between the West and China will continue to be tense. The purpose of establishing this scholarship is to "deepen mutual understanding between China and the world by educating future global leaders, ease various tensions, and help the West gain a deeper understanding of China's social, political and economic environment." According to reports, the project will be officially launched in 2016 and will fully fund 200 students from all over the world to study at Tsinghua University for one year each year. Students who complete their studies will receive a master's degree in majors including public politics, international relations, economics, business and engineering. Among the student sources, the United States accounts for 45%, China accounts for 20%, and Australia, Canada, Europe, Latin America, and other Asian countries and regions account for 35%. African students may also be added in the future.

Schwarzman said on the 21st that he himself has donated US$100 million to the project, sponsors have donated US$100 million, and the remaining US$100 million will be raised by the end of this year. Forbes magazine estimated last month that Schwarzman has a fortune of $6.5 billion. The New York Times stated that donors to the Schwarzman Scholars Program include Boeing, which is striving to enter China, the world's second largest aircraft market, Caterpillar, which sells excavators in China, the world's largest construction market, JPMorgan Chase Bank, Bank of America, Credit Suisse, New York Mayor Bloomberg's personal charity foundation and many other "anonymous" people. The commentary said, "The establishment of the scholarship can improve Schwarzman's political image in China and increase his and Blackstone's opportunities for contact with senior Chinese officials."