On May 4, 2008,BASF-YPC Company Limited (BYC) has signed an agreement with Jiangsu Polytechnic University (JPU) on the establishment of "BYC Scholarship", aiming to encourage students to study hard and contribute to the development of society. According to the agreement, BYC will donate RMB 200,000 to JPU as scholarship for two years, approximately 100 students will be awarded. JPU, founded in 1978, is a comprehensive university embracing technology, science and arts and specializing in technology. Up to now, it has furnished the society with a great number of talents, especially chemical professionals, strongly propelling the development of petrochemical industry in China. In BYC, there are 73 graduates of JPU, 20 of whom take positions of managers or senior employees. Sustainable development is one of the main concepts of BYC, it means that the Company should not only focus on the economic benefits, but also pay attention to the development of the society, where education plays a crucial role. The Company hopes that "BYC Scholarship" will inspire the students' passion to study, cultivate their innovation, sense of social responsibility, competitive and cooperative spirits, finally make them competent and mighty workforce for the development and prosperity of the society.