"The pending purchase rankles some Westminster faculty and alumni, who question what a longtime maker of steel spans knows about running an elite school whose choirs sang with maestros Leonard Bernstein, Arturo Toscanini and Seiji Ozawa."

I think that sentence provides some insight into the deal. As China becomes wealthier, their aspirations will be elevated as well. There's a lucrative opportunity here where the prestige of an American institution can be used to attract family who have the means and aspirations for their children to be acquainted with cultures and arts other than the ones they are born into.

It's kind of funny to hear people complain about a former steel company taking an interest in music education given the prestige that Carnegie Hall holds in American culture.