The Chairman of The Blackstone Group, Stephen Allen Schwarzman, along with other donors including Boeing, JPMorgan Chase, Credit Suisse, and even Bloomberg Philanthropies, will be creating a $300 million scholarship programme. A third of this amount will come from Mr Schwarzman himself, who said that the aim of this scholarship is both to deal with political tensions between the US and China in a "generational manner", and to raise his and Blackstone's political profile in China. The scholarship's advisory board will include notable figures, such as well as the former President of France, Nicolas Sarkozy.

Every year, 200 students will receive this scholarship for a Master's programme in Tsinghua University in Beijing, with all expenses paid for. Students will be housed in a facility at Tsinghua, Schwarzman College, and live in pods similar to that of Harvard Business School's. The programme will offer public policy, international relations, economics, business and, later, engineering. It will begin each June with an immersion programme in Chinese culture and issues and an introduction to Mandarin.

For more information, please visit https://cn.nytimes.com/business/20130422/c22scholarship/en-us/
Photo: Jens Schott Knudsen, Flickr