Caixin reports Peking University has acquired a medieval campus in the city of Oxford, England, and is turning it into a business school. Peking University HSBC Business School, based in the southern city of Shenzhen, said it signed an agreement with the Open University in Britain to purchase one of its campuses for 8.8 million pounds ($11 million). Hai Wen, the head of the school, said the site will become the first overseas campus of a Chinese business school. The new school, PHSBC Oxford, will open its doors to students from the UK, Europe and China in summer 2018. Students will have the opportunity to study for a year at the Oxford campus before coming to China for another year. It is unclear how much the program will cost, or how many students plan to enroll.