The City University of Hong Kong (CityU) is planning to sell its Community College, which has around 7,000 students and teaching staff and assets worth HK$870 million (US$112 million), Ming Pao Daily News reported Thursday.
Fung Wai-wah, president of Hong Kong Professional Teachers’ Union (HKPTU), said the proposed sale represents further commercialization of tertiary education, going against the philosophy of education.
CityU said the sale plan for the Community College is still at an early stage. It said it will provide more information later.
The Community College currently provides associate degree courses from CityU at two campuses in Kowloon Tong and Kowloon Bay. Tuition fees for the upcoming academic year are set at HK$47,500.
According to sources, CityU has been considering exiting the community college market in order to free up space and capital to strengthen its research and development, and for establishing a veterinarian school.
There is speculation that there are two interested bidders for the community college. One of them is said to be an experienced provider of degree courses that is seeking to boost its market share, while the other is a newcomer wanting to offer degree courses.
In 2013, the community college made a net profit of HK$84.253 million, according to the report.
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