The Ministry of Finance will invest 10 million yuan into the third phase of the "211 Project," according to a statement by Zhao Lu, director of the Education, Science and Culture Deparment under the Ministry of Finance on March 25 at the news conference held by the Ministry of Education.
The "211 Project," China's key construction project, officially started construction in 1995. It is also the State's only key construction project in the area of education during the "Ninth Five-Year Plan" and "Tenth Five-Year Plan" period. Zhao Lu said that as the State's financial resources grew, the State continued to increase investment into the "211 Project." In the first phase of the project, China earmarked 2.755 billion yuan in special funds; and in the second phase, allocated 6 billion yuan. For the project's third phase (2007-2011) of construction, the Ministry will set aside 10 billion yuan.
China now has more than 1,700 standard institutions of higher education, and only 6 percent of them are "211 Project" schools. However, "211 Project" schools take on the responsibility of training 4/5 of doctoral students, 2/3 of graduate students, 1/2 of students abroad and 1/3 of undergraduates. They offer 85 percent of the State's key subjects; hold 96 percent of the State's key laboratories; and utilize 70 percent of scientific research funding.
Zhao Lu said that the funding for education shows a daily rising trend, whether it is seen from the growth in China's education funds or from China's investment into the "211 Project." The financial budget for education will be 908 billion yuan this year.
By People's Daily Online