Steve Schwarzman, founder and chief executive of Blackstone, the alternative investment company, is donating $100m to establish an elite international education programme at Tsinghua University in Beijing.
The project, which has a total cost of $300m, is based on the Rhodes Scholarship which has been bringing foreign students to Oxford university for decades.
A total of 200 Chinese and foreign students will tackle a year of study leading to a master’s degree. Plans for the scheme were announced in Beijing yesterday.
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