According to the statistics of Bank of China, the debt of China universities has accumulated to the tune of RMB200 billion. The No.1 borrower is Jilin University (RMB3 billion debt), followed by Guangdong Industrial University (RMB2.3 billion debt), Zhengzhou University (RMB2.1 billion debt), Nanchang University and Guangzhou University (RMB2 billion debt respectively).
It is the first time that the China Government has admitted to the scale of debt problem faced by the higher education institutions.
Another higher education problem in China is the scale of unemployment among university graduates. China’s Ministry of Education predicts that this year there will be over one million graduates who cannot land a job.
I recall that when I ran a language school business in Hangzhou, eastern China, a graduate in international business came for job interview. She was then working as an assistant in a university’s Chinese language program. Asked why she chose to study for international business when the chance for her to work in a related profession is remote, she just smiled. She was not able to give an answer. You will guess it right. I didn’t hire her.
And major in international business in a university in Hangzhou?? Where to find the real expertise to teach such a subject? She may forget that Hangzhou is a tourist city, not a business city.
Maybe the kind of choice some China students make is partly to blame for their unemployment upon graduation.