They claim to "attach great importance to, and actively conduct, academic and cultural exchanges with overseas institutions." Such exchanges and collaborations are on the increase and cover more and more fields. They have so far established links with over 20 universities, academic institutions and cultural organizations in the U.S., UK, Russia, Korea, Canada, Japan, Switzerland, Belgium, Singapore and Malaysia and more. Hebei University of Economics and Business, a merger of the Trade and Finance Institute, the College of Trade and Economics and Hebei Commerce College, was founded in 1995. It is a key university with an emphasis in Hebei Province. It has a history of 50 years with 30 years of undergraduate education. In 2004, the result of the evaluation by the Ministry of Education was excellent.