A Hong Kong foundation has teamed up to open a business school at a British university to promote innovation and cultural exchanges between China and the UK.

On Saturday, Hong Kong's Sun Wah Group and De Montfort University in Leicester announced the launch of the Jonathan Choi Business School that aims to nurture future Chinese business leaders.

Jonathan Choi, chairman of Sun Wah Group, said China's rapid development - in particular President Xi Jinping's New Silk Road initiatives to boost trade and investment between Asia, Europe and Africa - offered new opportunities to the region and beyond.

The Sun Wah Group plans to open a soccer school in the Midlands city to train Chinese players and team managers in conjunction with the England Football Association.

Soccer training has long been underdeveloped in China. Its national soccer team has played only once in the World Cup. But England's national team is one of the strongest in Europe. The group saw the opportunity to expand the cooperation between Chinese and British soccer players, Choi said.

The business school launch ceremony was held at the Beijing 3e International School, which was founded by Sun Wah Group a decade ago to host about 200 children from a dozen countries.