China Construction Bank signs 60 bln RMB deal with Oxford
2015-10-23 09:13:00

The China Construction Bank has signed a 60 billion RMB deal with scientists at the University of Oxford to accelerate research into diseases and treatments. China Regenerative Medicine International also signed the memorandum of understanding that will see all three organisations working together to provide a commercial route for promising medical breakthroughs.


Carrying out the very latest stem-cell research.


Young scientists are busy in the lab here at the University of Oxford, knowing that they now have major financial backing to support their findings.


The China Central Bank is injecting more than 14 million yuan into the centre and has also pledged 60 billion yuan to support the industrialisation of any breakthrough outcomes.


"This is why it's so exciting - because with this money and with this platform, we now can dream big and can target real big issues like cancer, like diabetes, like neuroregeneration for example," said professor Cui Zhanfeng, director of center.


Some 350 research students from around the world come to study - and say they are excited by the new deal.


"It's very encouraging I would say - just knowing that there's a market already available for the work that we're doing and there's already a vested interest in it," said Sharlayne Waller, student from Jamaica.


"My mother has diabetes, this is my motivation for the whole project and thinking about it, the work I do at the moment could help to cure her and cure diabetes," said a Shen Di, student from China.


CRMI established its research and development center with Oxford University in 2014.


Many see it as a model of collaboration between the UK and China.


"We think the stem-cell research in the UK is the most advanced in the world, that's why we are very delighted to work with Oxford," said Mr. Shao Zhengkang, CEO of CRMI.


CCB says it hopes its funding will lead to many important scientific advances.


The researchers here know that this deal means any breakthroughs they are working on today could directly help millions of people around the world. It provides an easier route to commercialising the cures of the future. Editor:Rose