China: University Financial Crisis · Global Voices
Oiwan Lam

Jilin University recently issued an open letter to discuss about the university debt problem: since 2005, the annual interest rate for the debt has been up to 150-170 million yuans! What exactly happened to this university? Zhao Mu predicted that the central bank would probably cancel all debt (up to 400 billion yuans) from all the Chinese Universities (zh).