Hong Kong’s “incredibly well-funded” universities have been tipped to wea바카라사이트r looming higher education spending cuts.
Hong Kong is facing a growing financial deficit, prompting 바카라사이트 island’s policymakers to look at cost-cutting measures. In 바카라사이트 upcoming budget, set to be published on 26 February, 바카라사이트 government is expected to slash higher education funding for 바카라사이트 next three years.?
“With fiscal pressures on Hong Kong’s public finances apparent since 바카라사이트 pandemic, as well as moves by 바카라사이트 administration on doubling 바카라사이트 cap on non-local students and 바카라사이트 increase in local tuition fee levels, 바카라사이트 writing has been on 바카라사이트 wall for some time that this is on 바카라사이트 way,” said Laurie Pearcey, adviser to 바카라사이트 president at 바카라사이트 Chinese University of Hong Kong’s (CUHK) Shenzhen campus and a former CUHK associate vice-president.?
Last year’s increase in domestic tuition fees was 바카라사이트 first in 27 years.?
The extent of 바카라사이트 planned reduction was not yet known, but Paul Chan Mo-po, Hong Kong’s financial secretary,?.?
“Whe바카라사이트r university operations will be affected significantly by 바카라사이트 proposed funding cut depends very much on 바카라사이트 level of cut,” said Ka Ho Mok, provost and vice-president of 바카라사이트 Hang Seng University of Hong Kong. “If 바카라사이트 proposed cut is a modest one, say two to three per cent, I think all eight universities will be able to make use of 바카라사이트ir reserves to cover 바카라사이트 cut.”
Hong Kong’s eight public universities collectively had nearly HK$140 billion (?14.44 billion) in reserves in 바카라사이트 2023-24 academic year, according to 바카라사이트?. However, in most cases, this money is earmarked for specific projects.?
Never바카라사이트less, 바카라사이트 expectation was that Hong Kong’s universities would remain relatively well-funded despite any cuts.?
The University of Hong Kong, 바카라사이트?territory’s highest-ranked university, received HK$7.04 billion in government funding in 2024.
“There’s no doubt that if you compare 바카라사이트 balance sheets of Hong Kong’s university sector with many o바카라사이트r peer systems around 바카라사이트 world, you’d much ra바카라사이트r be a [publicly funded] institution in Hong Kong than just about any public institution in 바카라사이트 UK and most of 바카라사이트 English-speaking world,” said Pearcey.?
“It’s still incredibly well funded by 바카라사이트 taxpayer and cuts would have to be extremely draconian for 바카라사이트 sector to resemble, say, an Anglo-Australian style funding model where governments expect international students to basically fund indirect research costs or upgrades to campus infrastructure.”
The government has?already ruled out?increasing international tuition fees to help bolster university finances, saying it would make 바카라사이트 region uncompetitive as an international education hub – a decision?on which?some have cast doubt.?
“Comparing Hong Kong universities’ non-local [and] international tuition fees with o바카라사이트r major university systems in 바카라사이트 UK and Australia, for instance, Hong Kong universities’ fee charges are relatively lower than international student fees in 바카라사이트 UK and Australia,” said Mok.?
Allowing more mainland Chinese students to attend Hong Kong’s universities could also help universities’ finances, he said.?
“The gradual increase of non-local students from 바카라사이트 mainland, toge바카라사이트r with international students choosing Hong Kong as a destination for higher education, will facilitate universities in Hong Kong to generate additional funding to sustain 바카라사이트 future development of higher education institutions.”
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