In The China Educational Development Yearbook, Volume 1 | ISBN: 9789004171787
I. Causes of the Debt Crisis
A. Concern over Lack of Funds
Extending loans to China's state-owned colleges and universities dates back to 1999, when they confronted with an inadequate supply of educational recourses due to an increase in enrollment. State-owned commercial banks trained employees to be knowledgeable about bank operations and ri…