$300 million scholarship opportunity for studying in China

From the New York Times:

“HONG KONG — The private-equity tycoon Stephen A. Schwarzman, backed by an array of mostly Western blue-chip companies with interests in China, is creating a $300 million scholarship for study in China that he hopes will rival the Rhodes scholarship in prestige and influence….

The Schwarzman Scholars program will pay all expenses for 200 students each year from around the world for a one-year master’s program at Tsinghua University in Beijing.

The program’s creation underlines the tremendous importance of China and its market to Wall Street financiers and corporate leaders, who have become increasingly anxious as security and economic frictions grow between China and the West,” reports the New York Times.