The Stanford University is set to build a new university in China, with the Chinese government agreeing to help fund it.
The Stanford Chinese Campus will be built in Shanghai’s Shijiazhuang district and is expected to attract up to 10,000 students.
“We are extremely pleased that the Chinese authorities have agreed to support this university.
This will further the US and UK’s relationship with China and will help to shape the future of China-US relations,” said Professor Stephen D. Levitt, dean of the Stanford Graduate School of Business.
A US-China partnership for research and development will allow the university to produce innovative new products and technologies that could have a huge impact on the world economy, he added.
Last year, Stanford announced it would move its headquarters from California to Shanghai, where it will begin building the campus in 2019.
Its move follows the decision to move its main headquarters from Palo Alto, California, to the same city in 2018.
There have been reports in China that the university’s new campus would be built as a showcase for its innovation.
In November, the US Department of State announced a new $25m funding package to support the construction of the new Stanford campus.