China Construction Bank said recently it would offer a loan of 3 billion yuan to Peking University in a full-scale cooperation agreement. So far, Peking University is the first university in China obtaining such a credit support.
The loan will be used to build student apartments, teachers’ residences, classrooms, offices and a scientific academy covering 800,000 square meters in the next three to five years. Moreover, most students from poor families will share the grants from the university authority ever since and teaching staffs can use it as various housing mortgage loans. At the same time, Peking University can take advantage of the investment services of the Construction Bank to make its enterprises finance on the wide capital markets at home and abroad.
With the rapid growth of education industrialization and the implementation of the strategy to revitalize China through science and education, the traditional situation of education could no longer meet people's demands. Universities and colleges should not only depend on the government appropriations. Instead, they should turn their eyes onto broader market. Sources say Peking University has been developing towards this direction in the past few years and the 3 billion loan this time actually helps it stand among the first-class universities worldwide.
In recent years, China Construction Bank has been engaged in expanding its financial services in universities and colleges and is making every effort to support the growth of education industrialization with abundant capital and various business activities. So far, it has offered great support to a great many of national key projects as Zhongguancun High-tech Park and developed a series of financial services aiming at universities.
(People’s Daily)
