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Hong Kong's 8 public universities amass nearly HK$140 billion in reserves

The eight public universities in Hong Kong have accumulated nearly HK$140 billion in reserves, as reported by the Audit Commission. This substantial reserve has sparked discussions on whether these funds could be better utilized for public benefit, especially given the government's financial constraints. The reserves are primarily invested in low-risk assets like bank deposits and bonds, with some universities also investing in stocks and real estate. Notably, the University of Hong Kong holds the largest reserve at HK$47.3 billion, while the Hong Kong Metropolitan University has the smallest at HK$1.5 billion. The audit highlighted that these reserves could potentially be used to enhance educational quality, support research, and improve facilities, rather than merely being held as financial cushions. However, universities argue that these reserves are necessary for operational stability and future development amidst uncertainties like funding cuts and enrollment fluctuations.

Read the Full MSN Article at:
[ https://www.msn.com/en-sg/money/economy/hong-kong-s-8-public-universities-amass-nearly-hk-140-billion-in-reserves/ar-AA1yqDai ]