According to the recently released “Development Report of Chinese University Education Foundations (2018)”, 527 higher education foundations had been established in China as of December 6, 2017. By sorting through the financial status of 413 university education foundations from 2012 to 2015, the report found that the amount of donations they received was in a relatively mild state of fluctuation, something affected by many factors, such as the concentration of university celebrations and economic downturns. However the total amount of donations increased from 6 to 7 billion yuan.
The report points out that the proportion of expenditures from university education foundations within total university expenditures reflects the foundations’ weight and contribution to the universities’ financial systems, as well as the universities’ multi-channel funding capability. Judged from a national perspective, diversified funding for higher education in China still has a long way to go.
The report also points out that the optimization of the financial supply side of China’s universities should focus on the formation of continuity of supply, build a supply environment that is conducive to the universities’ input and use, and scientifically plan the use of funds. This requires balancing the current use of donated funds and the appreciation of investments, large and small donations and the need to be prudent with investments while offsetting inflation.
The report concludes that at present the development of Chinese university education foundations is facing both opportunities and challenges. It is necessary to break down the strategic goals of university education foundations and establish corresponding indicators by integrating the reality of Chinese higher education with the current stage of development of the foundations themselves.
