As China’s university admissions season kicks off, some newly established, tycoon-funded universities are attracting national attention as they enrol their first undergraduate students.
Fuyao University of Science and Technology (FYUST) founded in Fuzhou, Fujian province, by glass tycoon Cao Dewang, and Eastern Institute of Technology (EIT), founded in Ningbo, Zhejiang province, by semiconductor magnate Yu Renrong, will welcome their first undergraduates this summer.
They are part of a new form of philanthropic endeavour among Chinese entrepreneurs that is focused on promoting China’s national strategy of “scientific self-reliance” through education.
Industry observers and parents predict that the research-focused institutions may soon rival top public universities in selectivity. Though still trailing elite institutions such as Beijing’s Tsinghua and Peking universities, their appeal is becoming apparent.
“These founders are some of the most high-profile entrepreneurs and billionaires in China right now, so it’s no surprise that parents and students are paying close attention,” said Kent Cai, founder of Zhejiang Newway, an international education consultancy in Zhejiang. “Many are wondering whether they should be among the first to take the plunge.
“With only a few dozen spots available, the admission scores are expected to be competitive.”
