Peking University, China’s most prestigious institute of higher learning, has launched a fundraising campaign to help it achieve its long-term development goals.
In a statement posted on its website last week, the university said it will soon set up a development committee and each faculty will be responsible for raising funds.
Yan Min, an official with the financial department, said the university had been facing financial difficulties for several years and these had been worsened by the economic downturn.
Like other universities affiliated to the Ministry of Education, Peking University is largely funded by the government. To get additional funds, the university established an education foundation in 1995 to accept and manage donations for expansion, teaching, research and student awards.
Other top-tier universities have also launched fundraising campaigns.
Shanghai’s Fudan University raised more than RMB300 million ($43 million) three years ago to mark its 100th anniversary.
Source: China Daily