Latest news with #CaoDewang
South China Morning Post
18 hours ago
- Business
- South China Morning Post
What to expect as 2 Chinese universities founded by tycoons enrol first undergraduates
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.'
South China Morning Post
22-03-2025
- Business
- South China Morning Post
Chinese entrepreneurs' philanthropy helps lure world-class scholars
China's growing number of universities funded by entrepreneurs are attracting more world-class scholars, aligning with Beijing's intensifying push for hi-tech self-sufficiency, analysts said. Advertisement Fuzhou's Fuyao University of Science and Technology (FYUST), established with a US$10 billion donation from billionaire Cao Dewang, the chairman of glass manufacturer Fuyao Group, began enrolling students this year, and says its inaugural faculty line-up includes 15 academicians from home and abroad, covering cutting-edge fields such as artificial intelligence, life sciences and materials science. 'The university currently has 302 faculty members, with 71.2 per cent having overseas study or work experience, including 15 academicians and 56 scientists ranked in the top 2 per cent globally [in their fields],' FYUST vice-president Xu Fei told Xinhua this month. FYUST has recruited renowned scholars from China, as well as North America, Europe and Japan. Among those from overseas, Canadian academicians and professors are particularly prominent, with scholars from the United Kingdom, Japan, Germany and Austria also occupying important positions. Many hold prestigious academic honours, such as being fellows of the Institute of Electrical and Electronics Engineers, the UK's Royal Society, the Canadian Academy of Engineering, or members of the Japan Academy. They have previously held positions at top foreign universities, including Cambridge, Toronto, Ulm and Tohoku, according to FYUST's website. Advertisement If foreign scientists can bring their knowledge and patents to China, it will help China bridge the technological gap with the United States and Europe, said Jean-Pierre Cabestan, a professor with the department of government and international studies at Hong Kong Baptist University.
