As Chinese students fulfill their dream of studying abroad, huge amounts of money are flowing out of China to foreign educational institutions. Persons in charge at the American Education Fund denied that participation in the fair was motivated by profit and reiterated that American universities are mainly interested in the intellectual potential of Chinese students. It is reported that the U.S. Department of Commerce lists higher education as the nation s fifth moneymaking service export. About 25,000 Chinese students go abroad to study at their own expense each year. A recent government survey shows Chinese families are spending more on education than on housing.
Economists point out that education is the most promising sector for stimulating domestic demand.
You said that in 1999, Chinese institutes of higher learning expanded student recruitment by 331,000. The international manager of the American Education Fund held a different opinion on the flight of non-governmental education funds. Study abroad benefits the students in addition to the country where they study. The manager said whether or not students return to serve their country depends on whether or not the country provides an environment conducive to their careers.