Peking University opens UK campus, buys 8.8 million oxford estate

A few days ago, Peking University invested 8.8 million pounds to buy Foxcombe Hall, a large estate near Oxford, in the United Kingdom, and plans to use it as the new campus of its HSBC Business School (Peking University HSBC Business School Oxford Campus). , Referred to as PHBS Oxford).

Foxcombe Hall was built in the 1900's and was the home of the Earl of Berkeley VIII. The manor covers an area of 6.15 hectares and includes the main building, 2 outbuildings, an elegant Italian garden, a terrace, a view of the park and woodland and 39,000 square feet of office space and classrooms. 

Peking University said the Oxford campus's courses have nothing to do with Oxford University and will focus on "expertise in Chinese economy, financial markets and corporate management." Oxford's new campus will mainly recruit students from the United Kingdom and other European countries, with a two-year academic structure, with the first year in Oxford and the second year in Shenzhen.

Whether Wulun is the size or location of Foxcombe Hall has attracted the interest of many buyers and received numerous bids. The Brexit referendum in June last year reduced the exchange rate of the pound against the renminbi by about 10%, and to some extent attracted overseas investors.

Peking University HSBC Business School Dean Hai Wen said that Peking University has offered a "highly tempting price" that allows sellers "without the opportunity to say" no "," thereby defeating three competitors, including a certain college in Oxford.

Peking University said the new Oxford campus is a "bold step" and "will be an important milestone in the development of higher education in China." In the World University Rankings 2017, Oxford University ranked first and Peking University ranked 29th. The government has allocated billions of yuan to improve its research facilities and attract faculty and staff from top overseas universities to raise its international profile. 

In a statement, Beijing University President Lin Jianhua said: "We hope that the new measures in Oxford will further strengthen the school's international reputation and teaching and research capabilities."

Over the past 15 years, leading British schools have targeted mainland China. Public schools including Harrow School, Dulwich College and Wellington School have opened branches in China. British universities have also entered the mainland, and there are campuses of the University of Nottingham and the University of Liverpool. Last month, the University of Leicester said it would establish a campus in Liaoning, China.