Blackstone CEO launches scholars programme in China

Beijing

WHEN Blackstone Group co-founder and chief executive Stephen Schwarzman was asked by the president of China's elite Tsinghua University to design a major initiative for the school, the private equity billionaire decided to aim high.

His target, Mr Schwarzman told Reuters, was "the future relationship between China, which is rising in power very rapidly, and the rest of the world". He hit upon the idea of creating a one-year Master's degree programme, the Schwarzman Scholars, to bring together 200 "future leaders" from China and the world in a hothouse environment of academics, cultural immersion and dialogue.