Hanban provides a grant for the establishment of the Business Confucius Institute at Victoria University

Project narrative

In 2015, the Confucius Institute Headquarters (Hanban) and Victoria University signed an agreement to establish the Confucius Institute at Victoria University. As part of the agreement, Hanban is obligated to provide teaching materials, an annual fund, and numbers of Chinese instructors. The funds are dispersed through a local Bank of China account or other approved bank account created by the institute. The agreement has a 5-year validity and automatically renews at the end of every 5-year term. In 2015, Victoria University and University of International Business and Economics (对外经济贸易大学), the cooperating partner, signed a supplementary implementation agreement. University of International Business and Economics agreed to provide one or two visiting scholars annually, donate teaching materials, and receive student study groups. The Confucius Institute was officially established on November 26, 2015. There are four Confucius Institutes in the Melbourne area, with the other three Confucius Institutes being the Confucius Institute at the University of Melbourne, the Confucius Institute at Royal Melbourne Institute of Technology, and the Confucius Institute at La Trobe University.