The University of International Business and Economics (UIBE), founded in 1951, is a multi-disciplinary and national key university with economics, management, law, literature and science as its core academic areas of expertise. Since its foundation, UIBE has been steadfast in living up to its motto of "Erudition, Honesty, Endeavor and Perfection" through constant diligence and innovation. At present, UIBE consists of 15 academic schools, a Graduate School, a campus in Israel for undergraduate studies in business administration, a Department of Physical Education and a Department of Culture and Art, offering over 1405 undergraduate courses, 875 postgraduate courses, and 109 doctoral courses. In 1989, UIBE became the first university in China to have a Board of Trustees, with its members from the Ministry of Foreign Trade and Economic Cooperation (predecessor of the Ministry of Commerce), state-owned international trading companies, Chinese Customs, the Bank of China, the People's Insurance Company of China, and the Hong Kong Chamber of Commerce. Mr. Li Lanqing, the former Vice–Premier of the State Council, took the chair for its first session, and Ms. WU Yi, the former Vice-Premier of the State Council, chaired the Board for its second session. UIBE plays a leading role in the development of international alliance with universities around the world. Currently, UIBE has established partnerships with over 160 overseas universities and international organizations.