NANJING, April 15 -- Duke Kunshan University (DKU), a Sino-American joint venture university in east China's Jiangsu Province, will officially open in August, local authorities said Tuesday.

DKU, in the city of Kunshan, was jointly created by U.S.-based Duke University and Wuhan University in Hubei Province. The Ministry of Education formally approved its establishment last September.

"We plan to enroll the first cohort of 100 students, including 50 Chinese, offering master's degree programs in global health, medical physics and management studies. Graduates will be granted degrees from Duke University," said Liu Jingnan, chancellor of DKU.

In addition to degree academic programs, the university will provide non-degree courses for undergraduate students. Students who successfully complete the program will receive Duke University course credit that can be transferred to other degree-granting institutions.

According to Liu, currently about 20 Chinese universities, including Peking University, Tsinghua University and Fudan University, have signed agreements with DKU to select excellent undergraduates to attend the non-degree program. Some of them have already received certificates of admission.

Liu said Chinese students will need to pay between 240,000 yuan (about 39,000 U.S. dollars) and 300,000 yuan for a graduate degree from DKU. Although the cost is comparatively cheaper than studying overseas, it is still big money for most Chinese families.

"But the university will offer scholarships and subsidies for students. Even those from poor families can enjoy the world-class educational resources here," Liu said.

The campus will cover an area of about 1,200 mu (80 hectares) and accommodate up to 7,000 students. The three-phase project is expected to be completed by 2024 with an investment of nearly five billion yuan.

China currently has about 1,500 Sino-foreign joint institutions and programs, including Shanghai New York University, Wenzhou Kean University and Duke Kunshan University.