HSBC is donating CNY150 million to Peking University through its charitable arm, the Hongkong Bank Foundation. The agreement was signed by HSBC and Peking University on August 30 in Beijing.
Of the total amount, CNY120 million will be used to support the expansion of the Peking University Graduate School of Business in Shenzhen, including building extensions, staff development and training, nurturing of talent, and other related projects. The school will be renamed Peking University HSBC Graduate School of Business.
The remaining CNY30 million will be used for the construction and commissioning of the Peking University HSBC Finance Research Center in Beijing, as well as establishing a Peking University HSBC Finance Research Fund valued at CNY10 million.
Vincent Cheng, chairman of The Hongkong and Shanghai Banking Corporation, stated that HSBC recognizes that education is crucial to the development and prosperity of a country, and that the bank has been supporting a wide range of educational programs on the mainland for a long time.
