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Big Loans Borrowed for Campus Upgrading
Huazhong University of Science and Technology has lately borrowed a loan of 3 billion yuan for discipline construction and personnel training in the way a world-renowned university is to be built on the campus at the earliest possible date.
The university signed cooperation agreements with Industrial and Commercial Bank of China Hubei Branch and China Construction Bank Hubei Branch, respectively. Under the agreement, the university is to be helped with its upgrading construction with 2.4 billion yuan of loan along with a loan of 600 million yuan from the Agriculture Bank of China in the coming five years.
The loans will be used for the development and promotion of information and life science, laser, advanced manufacturing technology, biomedicine, photonics and other new disciplines, in addition to comprehensive research on city planning, building vibration isolation and digitized city construction.
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