Education finance: evolution, challenges and prospects

Yuhong Du, Haowen Cao and Yiwen Wang

Chapter 14 in Handbook of Public Finance in China, 2026, pp 318-336 from Edward Elgar Publishing

Abstract: Education finance in China has developed in five phases: the period before China commenced economic reform and opening up; the period at the beginning of the reform and opening up; the period of tax-sharing reform; the period of public finance construction; and the period of modern finance system construction. In the current stage of the ‘new normal’ since 2014, education finance in China has faced new challenges in the areas of sustainability, equity, funding allocation efficiency and adjustments to befit new requirements of national strategies. Looking ahead, it is necessary to improve the long-term investment mechanism based on the per capita standard, establish an open and fair way of allocating education funding, enhance the performance evaluation system for education funding, and align education more closely with broader national strategies.

Keywords: Education finance in China; Education finance in developing countries; Adequacy and equity of education finance; Chinese education development; Student financial aid in China (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035311705
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