Britain’s elite colleges look East for funds
Some of England’s most prestigious universities, strapped for cash after deep cuts in government subsidies, are to step up fund-raising drives in Hong Kong and the mainland.
While Oxford, Cambridge and the London School of Economics say government grants will still make up the bulk of their income, these elite institutes are increasingly looking eastward to diversify funding.
And the amount donated by Hong Kong philanthropists is expected to rise this year, with new scholarships and projects to be announced.
“Oxford University has put an increasing emphasis on our relationship with China and Hong Kong,” a spokesman for the English-speaking world’s oldest university said. “We are looking more to philanthropy.”
