The Legal Study On Chinese-foreign Cooperative University's Financing

Globalization accelerates cross-border movement of all kinds of resource elements,including educational resource.China's accession into WTO prompts China to open up trade in education service.An increasing number of Chinese-foreign cooperative education projects have been launched,which reflects Chinese people's eagerness for high-quality educational resource as well as overseas educational institutions' expectation on China's market.The institutional basis has been built for standardizing Chinese-foreign cooperative education by issuing and implementing Regulations of the People's Republic of China on Chinese-foreign Cooperative Education and Implementation Measures for the Regulation of the People's Republic of China on Chinese-foreign Cooperative Education.Since The University of Nottingham Ningbo,China was founded in 2004,there have been nine Chinese-foreign cooperative education institution founded in mainland China.Special advantages are increasing their popularity and acceptance.However,it is supposed to explore some difficulties of these cooperative education institutions behind the success,with financing problems as the most outstanding one.Not only do they face the common trouble faced by state-run universities,but they are also subject to particular situations.The disselrtation are trying to make clear their financing circumstances and difficulties,analyze the underlying legal factors,and then discuss the possible financing ways based on conceptual change behind policy and legal orientation.The dissertation is divided into four chapters.The first chapter clarifies the legal system changes,analyzes the regulator's policy orientation of three-phased period,defines Chinese-foreign cooperative education institution and briefly introduces these nine institutions,and provides the outlook for their development.The second chapter presents in detail their financing situations,summarizes financing features,and discusses six financing problems.The third chapter attempts to make legal analysis on their financing difficulties.The discussed contents include majority ownership mentioned in China's commitment on trade in education service and the article of reasonable returns,cooperators' residual claims and the institution's legal person property right to all of its assets.And then the education's nature of public welfare and profitability is explored so as to provide suggestions based on policy orientation and practical experience for the revision of the Regulations and Implementation Measures.The fourth chapter provides several possible financing ways with feasibility analysis from the perspective of policy and practice,which includes fiscal support pattern,secured financing pattern,public-private partnership financing pattern,asset backed securitization financing pattern,and education fund financing pattern.By means of case analysis method,the dissertation focuses on the financing difficulties faced by Chinese-foreign cooperative education institutions,and offers advice practically and legislatively.The first innovation lies in the bold application of popular financial instruments in current capital market,and demonstration on its feasibility when applied to these institutions' financing.The second innovation is explaining the conceptual changes behind policy,and discussing beyond the other possible approaches based on broad understanding of education's nature of public welfare and profitability.