In a major initiative, UCD and UCC are to establish an Irish Institute for Chinese Studies, with centres at both colleges.
The initiative follows the recent Government trade mission to China, which helped secure contracts worth over €30 million in the education sector.
The new institute will promote education and research links between Irish and Chinese universities.
It will include student and staff exchanges, as well as cultural and language support for the business and diplomatic community.
The UCD president, Dr Hugh Brady, said last night the trade mission to China had underlined "the huge potential to develop education and trade between Ireland and China further".
The institute will build on the established links between UCD, UCC and Chinese universities.
For Irish undergraduate and postgraduate students, the institute will provide new opportunities to study Chinese language and culture - either as their primary focus of study or when combined with degree courses in business, law and other disciplines.
It will facilitate the recruitment of high-quality Ph.D. students from China to Irish research programmes in the areas of microelectronics, ICT and biotechnology.
The institute will also co-ordinate student and staff exchanges between Chinese and Irish universities. Through the provision of short courses, summer schools and outreach programmes, the institute will also promote greater understanding of Chinese and Irish/European culture in both countries.
The UCC president, Prof Gerry Wrixon, said: "By recruiting top-quality Chinese research students to Ireland, we will not only promote the development of Ireland's knowledge economy, but also provide Chinese students with the ideal platform from which to explore modern Europe.
"This should be a win-win situation for Ireland and China."