Sumitomo Corporation plans to launch a scholarship program for students living in poor areas in China's Yunnan Province from 2008.

On November 28, a signing ceremony was held at the Chinese Embassy in Japan, during which the Chinese ambassador to Japan, Cui Tiankai, and the president of Sumitomo Corporation, Susumu Kato, signed a Provision of Scholarship Memorandum. Under the memorandum, a fund known as the Low-Income Student Support Fund will be established, with Sumitomo contributing 50 million yen over the five years from 2008 through 2012. The fund will be used to provide monetary support to high school students who would otherwise have difficulties continuing their studies due to lack of finances.

The Chinese central government has already established Anti-Poverty Projects, to be run by different ministries, in each region of the country as part of national program. The project in the poor mountainous areas in Yunnan Province, located near the border with Vietnam, is administered by the Ministry of Foreign Affairs.

The scholarship program forms part of Sumitomo's corporate social responsibility activities in China and reflects the company's aim to make further contributions to the development of local communities by assisting poor but talented students to continue with their education.

Ambassador Cui confirmed that our support will help to develop China's future workforce and contribute to the future development of the country, as well as further strengthen ties between Japan and China.

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