Beijing Jiaotong University (BJTU) held a press conference to mark the issue of the Jiaotong University's 120th anniversary commemorative stamps and launched a joint development fund with four other universities of the same type -- Shanghai Jiaotong University, Xi'an Jiaotong University, Southwest Jiaotong University and National Chiao Tung University in Taiwan, at the BJTU campus, on March 30.

The five Jiaotong universities have common historical links and all stem from the evolvement of Jiaotong University, a historical university established in 1896.

Gu Jun, vice-general manager of China Philatelic, unveiled the commemorative stamp design, saying that it was the tenth such stamp ever made by China Post for university anniversaries in China.

In presenting the design concept, he explained that the main part of the stamp is a monument image with Jiaotong University's school badge on it, signifying the irreplaceable role Jiaotong universities have played in promoting the nation's development in modern times. The number "120" appears as a high-speed train in stylized characters, signaling the important role of these universities in China's rail transit development.

The press conference also saw the launching of the development fund among these five Jiaotong universities, which is expected to support cultural exchanges among them and with its capital mainly from companies, social groups and alumni donations.