Shanxi University (SXU)'s economics and management school signed a financing agreement with Weidai, a leading internet finance company on April 20.

According to the agreement, Weidai will set up a fund worth 1.8 million yuan ($261,540) to support impoverished students and award those with good academic performance from 2017 to 2026.

The signing ceremony takes place at Shanxi University on April 20. [Photo/sxu.edu.cn]

"It is a part of the social responsibility of a company to work with universities in training students," said Wang Pengfei, vice-president of Weidai.

"We hope students can work hard and develop entrepreneurial skills," he added.

At the signing ceremony, Li Sidian, deputy secretary of SXU's Party committee, extended a warm welcome and his gratitude to representatives from the company and government departments for their support of SXU.

Leaders of SXU and Weidai discuss details of their partnership at the signing ceremony. [Photo/sxu.edu.cn]