OREANDA-NEWS. January 9, 2012. A scholarship award ceremony was held at the University of International Business and Economics in recognition of excellence among international students studying in China.

The CDB Foreign Students Scholarship is sponsored by China Development Bank and administered by the China Scholarship Council under the Ministry of Education.

Twenty students, majoring in economics or finance in Peking University, Tsinghua University, the University of International Business and Economics and Shandong University, were announced scholarship recipients at today’s ceremony.

CDB was China’s first financial institution to launch a scholarship for international students. Started in 2006, this merit-based scholarship is part of the country’s diplomacy strategy, which aims to encourage economic and financial interaction between China and the rest of the world, promote influences of the Chinese culture, and prepare the next generation for mutually-beneficial cooperation.

So far, the CDB scholarship has sponsored more than 80 students from some 20 countries, including Russia, Laos, Nigeria and Zimbabwe, pursuing education in China.