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China's Higher Education Market to be Open Limited to Private Capital domestic & Foreign
The Chinese Government has made a decision to open its inland higher education market in a limited way to privately owned capital both inside and outside China, but no detailed rules have so far been disclosed yet.
Some officials identify within three to five years after its WTO entry, China will try to promote the development of education by issuing government bonds, asking for loans from International financial organizations, foreign government and individuals and welcoming sponsors, Hong Kong Wenhui reports.
According to related information, to cooperate with Chinese partner is an effective way for foreign education institutions and investment organizations to access towards China's market after its WTO entry, said Bi Jingkung, China's Chief Executive of Asia Capital Association. This will create a good opportunity for the development of domestic higher education.
Today very few privately owned institutions could compete with those of the state-owned in both compulsory and higher education due to the shortage of funds' support, he added. Under such circumstances, domestic education institutions are in dire need of market globalization.
By PD Online Staff Yang Ruoqian
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