Chinese universities indebted for over $ 40 billion
Despite what was in the Celestial Empire snack like mushrooms new campus, the academic landscape of China seems to hide a financial situation is not as prosperous. Perhaps because of the proliferation of innovative structures and the increase in the number of students of a university system with strong growth and more and more attractive are the basis of debt universities. Most Chinese universities are in high loss for a total debt of the sector at the end of last year amounted to 40.69 billion dollars, according to official source.
To share this record debt are over 1,100 Chinese universities : a dilemma that over the years it has become common to every college in the country, he confesses to a Chinese national radio Liu Liyun, director of the research institute of the National Board for review accounting. A similar report by the auditors of national, revealed that the same debt situation also applies to a number of local authorities, exposed to more than one “trillion” and a half.
The main reason for this exponential debt of academia? L ‘ hyper-expansion universities , where students grow from year to year, and the pace of construction of new campus in the past 10 years, says Bingqi Xiong, vice president of 21st Century Education Research Institute. Many colleges are forced to borrow money every year to honor the preexisting debts , which hinder the further development of universities. Alone, the 40 local universities in the region of Shanghai, north west of the country, has accumulated debts of more than one and a half billion dollars in 2009.
It failed however in recent days the veto of the neighboring government of Taiwan , which prevented students of Chinese nationality to attend their courses. In recent days, more than 1,200 students were admitted to universities in Taiwan, plus another 200 seats and 28 master’s researchers will attend a doctorate.