Fund launched to support international exchanges

A fund to support international exchanges was launched in Beijing on Monday.

The Guangfa 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 ($2.77 million) to the China University of Political Science and Law.

By cooperating with the China International Talent Exchange Foundation and the Information Research Center of International Talent, an organization under the State Administration of Foreign Experts Affairs, the Fazheng Group plans to raise 50 million yuan over the next 10 years to support exchanges in the fields of education, health and culture.

The fund will also accept donations from enterprises at home and abroad, international organizations, external institutions and foreigners.

In addition, a foreign teacher base will be set up so those teaching in China can communicate with each other and improve their teaching skills.