Chinese fund established to support international exchanges
The Guangfa Fund, a new fund to support international exchanges, was launched in Beijing this week, with plans to raise RMB50 million (US$8 million) over the next 10 years to support exchanges in the fields of education, health and culture. The fund was named after Wang Guangfa, president of the Fazheng Group, a business group involved in the real estate, education, law and health sectors, among others. The group previously donated 17 million yuan (US$3 million) to the China University of Political Science and Law. Source: China Daily (see link for more information).