Higher Education Financing in China
East and Southeast Asia make incredible achievement in higher education (HE) expansion over the past 30 years. The number of tertiary enrollment in Southeast Asia, East Asia, and the Pacific rose from 3.9 million in 1970 to 46.7 million in 2007, accounting for 31% of the global enrollment (Asian Development Bank 2012a, b). China makes a unique contribution to this expansion. It becomes the world’s largest higher education provider and has transformed from an elite to a mass higher education system in a matter of 20 years from 1997 to 2017 (Wang and Yang 2018).
Funding the unprecedented expansion imposes a great challenge for higher education finance. Over the past decades, researchers observe two trends in tertiary funding in Europe and USA. On the one hand, many countries experience a move toward performance-based funding for public funding...
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