facebook
twitter
rss
account
search
search
 

Financier begins China scholarship program

April 21, 2013 at 11:36 AM   |   Comments

BEIJING, April 21 (UPI) -- Blackstone founder Stephen Schwarzman announced Sunday that he has endowed $100 million to build an elite scholarship program in China.

Schwarzman will also begin a $200 million fundraising campaign to make the program the largest charitable effort in China's history, a news release said.

The Schwarzman Scholars program will be housed at Tsinghua University in Beijing, and 200 students will attend every year to complete a one-year masters program.

The first class of students is slated for 2016.

Students will be able to choose between four academic disciplines: public policy, international relations, economics and business and engineering.

Schwarzman said he was inspired by the Rhodes Scholarship program and that China's growth and importance in today's economy make it the perfect place for the program.

Former British Prime Minister Tony Blair and U.S. Ambassador to China Gary Locke are supporting the program.

"The Schwarzman Scholars program will help the United States and China strengthen ties in all aspects of our bilateral relationship by deepening mutual understanding between both countries," Locke said.

Schwarzman is the chairman, CEO and co-founder of Blackstone, a financial services firm, and has donated millions to the New York Public Library and other scholarships.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Celebrity Couples of 2014 [PHOTOS]

Celebrity Couples of 2014 [PHOTOS]

Most Popular
1
Northrop Grumman developing reusable space plane for lifting spacecraft into orbit
2
Corona Extra recalled due to glass particles in beer
3
Embraer refining KC-390 transport
4
Navy to test Lockheed Martin's FORTIS exoskeleton
5
Final builder sea trials for Australian landing helicopter dock ship
Trending News
Video
x
Feedback