Inditex and Tsinghua University have signed an agreement to set up a fund that will enable international students to attend the prestigious Chinese university. Scholarships will be awarded to students from the 52 countries that take part in the Chinese government’s “One Belt One Road” initiative, which aims to strengthen relations between China and Asia, Europe and Africa. Inditex is set to earmark 400,000 euro over a three-year period to contribute to the fund.

“This is a fresh opportunity to support this international intercultural exchange project in which Spain is also involved, while it will also help our company to benefit from Chinese academic and research excellence”, said Pablo Isla, CEO of Inditex, in a statement.

This is the second time Inditex partners up with Tsinghua University. In 2016, the Spanish fast fashion giant set up a three-year fund to support research activities at Tingshua’s School of Economics Management. The fund also helped students to travel to the municipality of A Coruña, Spain, to pursue internships at Inditex, in areas such as fashion, logistics and sustainable development.

Located in Beijing, Tsinghua University ranks among the best universities in China, having been dubbed locally as the ‘Chinese Harvard’. Founded in 1911, it includes 20 schools and 57 departments covering a broad range of subjects. Its Advanced Program in Fashion and Luxury, launched in 2006 in partnership with HEC Paris and Institut Français de La Mode (IFM), ranks as the best master’s degree in fashion in China, and the sixth best globally, according to Eduniversal Best Masters.