On 10th September, 2016, the opening ceremony of Schwarzman College at Tsinghua University was hosted in Beijing. Chinese President Xi Jinping and American former President Barack Obama sent letters to express their congratulations and expectations to the students. LiuYandong, Vice Premier of Chinese State Council attended the ceremony and delivered a speech. As one of the founders of Schwarzman College, Dr. Chanchai, Chairman of Reignwood Group, had given full support to the project and attended the ceremony under invitation. To mark his contribution, the Yan Bin Fellow of the Schwarzman Scholars Program designation will be given to four scholars per year.