Some 75 Chinese universities have unveiled their 2017 annual budget, which topped 350 billion RMB. Tsinghua University received the largest budget of 23.3-billion-RMB, making it the only university with a budget over 20 billion RMB.

A total of eight universities received a budget of more than 10 billion RMB. Peking University and Zhejiang University ranked second and third on the budget list, with 19.3 billion RMB and 15 billion RMB, respectively, Beijing News reported.

Of the 75 universities, about 51 of them had a budget of less than 5 billion RMB. Three art colleges – the Central Academy of Fine Arts, the Central Conservatory of Music, and The Central Academy of Drama – were at the bottom of the list, each receiving less than 1 billion RMB.

According to Beijing News, Zhejiang University was the only university in the top ten of highest budgets that saw a slight decrease compared to last year. At least eight universities reported an increase of over 2 billion RMB. The budget increase could be attributed to greater financial support from the government, as China vowed in 2016 to speed up the construction of world-class universities and first-class majors.