China is planning to invest up to $20.5 billion in higher education institutions in the United States, Britain and Europe in the next five years, a new study said.
The China Institute of International Studies said in a report released Monday that the $20bn will help bolster US and UK research capacity and help the countries to improve their economies, while boosting the competitiveness of Chinese companies.
The study, by the China Institute for International Studies, was conducted in cooperation with the University of California, Los Angeles, and other academic institutions.
The institute said the investment will also help boost the global competitiveness of the US and Britain, which have struggled to compete with China in terms of both technology and science.
China will invest about $5 billion each year in the three countries, according to the report, which was prepared in partnership with the US government.
It also said the investments will support global innovation in science, technology, engineering and math (STEM).
Read moreChina has the world’s largest economy, the world was a top destination for international students in the last decade, and more than two-thirds of international students at universities are from China, according the China Institutes of Technology, the country’s flagship institute.
The United States is the second-largest economy in the world behind China, and has more than 11 million international students, according TOEFL.
The US has been grappling with how to balance China’s growing clout in the global economy and its growing influence in the international community.