include the current General Secretary of the Chinese Communist Party and paramount leader of China, Xi Jinping '79, who graduated with a degree in chemical engineering, along with the CCP General Secretary and former Paramount Leader of China Hu Jintao '64, who graduated with a degree in hydraulic engineering. In addition to its powerful alumni, Tsinghua has a reputation for hosting globally prominent guest speakers, with international leaders Bill Clinton, Tony Blair, Henry Kissinger, Carlos Ghosn, and Henry Paulson having lectured to the university community. As of 2018, Tsinghua University consists of 20 schools and 58 university departments, 41 research institutes, 35 research centers, and 167 laboratories, including 15 national key laboratories. In September 2006, the Peking Union Medical College, a renowned medical school, was renamed "Peking Union Medical College, Tsinghua University" although it and Tsinghua University are technically separate institutions. The university operates the Tsinghua University Press, which publishes academic journals, textbooks, and other scholarly works. Through its constituent colleges, graduate and professional schools, and other institutes, Tsinghua University offers more than 82 bachelor's degree programs, 80 master's degree programs and 90 PhD programs. In 2014, Tsinghua established Xinya College, a residential liberal arts college, as a pilot project to reform undergraduate education at the university. Modeled after universities in the United States and Europe, Xinya combines general and professional education in a liberal arts tradition, featuring a core curriculum of Chinese and Western literature and civilization studies and required courses in physical education and foreign languages. Furthermore, while most Tsinghua undergraduates must choose a specific major upon entrance, Xinya students declare their majors at the end of freshman year, enabling them to explore several different fields of study. In 2016, Schwarzman Scholars was established with almost US$400 million endowment by Steven Schwarzman, the chairman and CEO of the Blackstone Group and other multinational corporations and global leaders. Schwarzman Scholars annually selects 100-200 scholars across the world to enroll in a one-year fully-funded master's degree leadership program designed to cultivate the next generation of global leaders. 40% students are selected from the United States, 20% students are selected from China, 40% are selected from rest of the world. These scholars reside on the university campus at Schwarzman College, a residential college built specifically for the program. In 2016, Tsinghua's expenditures were RMB 13.7 billion (US$3.57 billion at purchasing power parity), the largest budget of any university in China. According