The BOC will provide a credit line of 1 billion yuan for the university to improve its teaching conditions and develop high-tech industries.

"The funds will help the university initiate overseas education programs and upgrade itself to become a world first-class institute of higher education," said Wang Shenghong, president of Fudan University.

According to the agreement, BOC will open a branch to provide regular and ATM banking services on the university's campus.

The university will support the bank in professional training, academic exchanges, network technology and the development of financial products, said BOC president Liu Mingkang.

The BOC has so far raised more than 3 billion yuan for a dozen famous universities and their high-tech enterprises.

(People's Daily 11/02/2000)