American Financier Stephen A. Schwarzman Endows International Scholarship Program in China

Blackstone founder Stephen A. Schwarzman announced a $100 million (¥600 million) personal gift to build and endow an elite scholarship program in China. A simultaneous fundraising campaign with a goal of raising $200 million (¥1.2 billion) will make the program the largest charitable effort in China's history, with funds coming largely from outside the country. The "Schwarzman Scholars" program will be housed at Tsinghua University in Beijing, one of China's most prestigious universities, dedicated to academic excellence and integrity and the interaction between Chinese and Western cultures. Susanne Weigelin-Schwiedrzik, vice-rector of the University of Vienna, is the only European sinologist on this program’s academic advisory board.

"China's economy is growing at three times the rate of the West, and if this growth continues, China will become the largest economy in the world in the next couple of decades. Disproportionate levels of growth often create global imbalances and tensions, which will need to be addressed in the decades ahead. Looking to the future it is crucial that both countries, [both the US and China], and others around the world work hard to build on a foundation of interdependence, to foster stronger and deeper relationships, and to develop a real and full understanding of each other’s cultures among the next generations of business and political leaders. In the 21st century, China is no longer an elective course, it’s become core curriculum", so Stephen Schwarzman explains his involvement in the initiative.

Schwarzman Scholars will support 200 students annually for a one-year Master's program at Tsinghua University under the direction of Dean David Daokui Li, a prominent Chinese economist and former member of China’s currency board. Students will hail predominantly from the US, coming also from Europe, South Korea, Japan, India, and other areas around the globe. Students will study in Beijing for a year. This will also involve cultural immersion, attending lectures by heads of state, traveling throughout the country, and developing a true understanding of China.

Students will be able to choose from four academic disciplines: Public Policy, International Relations, Economics & Business and Engineering. Additional fields will be added in future years.

Schwarzman Scholars has a world-class advisory board, whose members have unparalleled insight and experience in international policy and diplomatic challenges. Members of the advisory board include Tony Blair, former Prime Minister of the United Kingdom (honorary), Henry Kissinger, 56th Secretary of State (honorary) and Condoleezza Rice, 66th Secretary of State for the United States (honorary), and also Henry Paulson, 74th Secretary of the Treasury for the United States (honorary).

Renowned sinologist and vice-rector at the University of Vienna, Susanne Weigelin-Schwiedrzik is the only European expert on sinology on the program’s academic advisory board. "The world has to understand China, and China has to understand the world. The Schwarzman Scholars at Tsinghua University in Beijing will have the opportunity to gain an in-depth understanding of China and the world. They will develop a leadership style, which will contribute to making it possible for the world to integrate China and China to integrate into the world. With China’s rise to a global power, not only through its size, but also more importantly through its growing economic and military force, the Schwarzman Scholars initiative is of major importance for the future global political, economic, and cultural development. For this reason, I feel proud and honored to be asked to contribute my experience in academic exchange with the PRC to this initiative", says leading sinologist Susanne Weigelin-Schwiedrzik.

About Tsinghua University
Tsinghua University, founded in 1911, is widely regarded as one of China’s most prestigious institutions of higher learning. Honoring its motto of “Self-discipline and Social Commitment” and the spirit of “Actions Speak Louder than Words,” Tsinghua has been committed to academic innovation, national development and the progress of all civilization.

Tsinghua University is now a truly comprehensive research university. Its 19 schools and 55 departments cover 11 disciplines in sciences, engineering, literature, art, history, philosophy, economics, management, law, education, and medicine.

About Stephen A. Schwarzman
Stephen A. Schwarzman is chairman, CEO and co-founder of Blackstone. He has been involved in all phases of the company's development since its founding in 1985. The company is now one of the world's largest alternative asset managers with around $210 billion in assets under management, as of 31 December 2012.

Mr. Schwarzman holds a BA from Yale University and an MBA from Harvard Business School. He has served as an adjunct professor at the Yale School of Management. He is an active philanthropist with a history of supporting education, schools, and motivated students. Through his philanthropy, he attempts to find transformative solutions to major challenges.

About Susanne Weigelin-Schwiedrzik
Susanne Weigelin-Schwiedrzik is Professor of Sinology at the University of Vienna. She is a noted expert on Chinese history and politics and has been going to the People's Republic of China since the 1970s. Since the 1980s she has had a close relationship with Tsinghua University. Weigelin-Schwiedrzik is a research fellow and guest professor at international institutions such as Peking University, Tsinghua University, Kyoto University, Hong Kong University of Science and Technology, University of California, Berkeley, and Brandeis University.

More information on the program, fundraising and admissions: www.schwarzmanscholars.org

Scientific Contact
Susanne Weigelin-Schwiedrzik
Vice-Rector
University of Vienna
1010 Vienna, Universitätsring 1
T +43-1-4277-100 20
susanne.weigelin-schwiedrzik(at)univie.ac.at

Further Inquiries
Elisabeth Mattes
Head of Corporate Communications
University of Vienna
1010 Vienna, Universitätsring 1
T +43-1-4277-175 00
M +43-664-602 77-175 00
elisabeth.mattes(at)univie.ac.at