1st Sino-foreign university to be set up

The Ministry of Education approved on Tuesday the establishment of Ningbo-Nottingham University, the first Sino-foreign university.
The new university will be founded cooperatively by the University of Nottingham of Britain and the Zhejiang Wanli University in Ningbo city of eastern Zhejiang province with an investment of 600 million yuan (72.3 US dollars).
According to Xu Yafen, board chairman of Zhejiang Wanli Educational Corporation, after it is set up, Ningbo-Nottingham University will be a branch school of the University of Nottingham,adopting its teaching material and educational system and issuing a diploma from the University of Nottingham to its graduates in China.
Three schools are instituted under the university including the business school, the school of international languages and the school of international exchanges and communication. Four majors will be offered, including international management and trade, finance, accounting and management, international affairs studies and international culture and communication.
According to Xu, key teachers of the new university will be sent from Britain and Prof. Yang Fujia, current dean of the University of Nottingham and academician of the Chinese Academy of Sciences, will be the university president.
Doctor Ian Gow, current deputy president of the University of Nottingham and dean of its business school, will be the managing deputy president of Ningbo-Nottingham University.
This move of approving a foreign university to set up its branch in China through working in cooperation with domestic higher educational institution is regarded by experts as a breakthrough in China's endeavors to attract international educational resources.
Founded in 1881, the University of Nottingham is ranked sixth among British universities and is generally prestigious in the world.