Shanghai Normal University will apply to start a vocational college and run it as a joint-stock system. If this proposal is approved, it would be China's first publicly owned vocational college.

Yang Deguang, dean of Shanghai Normal University, says that the school will invest approximately 400 million yuan to build a vocational college capable of enrolling more than 10,000 students. Due to financial restraints, the school will need to rely on the community for support.

Shanghai Normal University would raise funds from different sources, including inviting companies, banks and wealthy benefactors to invest in its stocks. Yang estimated that after two or three years, the investors would be able to recoup their initial investment.