CUHK — Financial Overview and Endowment Fund

This article sets out the financial structure and major donations of The Chinese University of Hong Kong (CUHK). Revenue figures are drawn from official annual reports and financial statements; for specific fiscal-year data see the Finance Office website^※. CUHK's financial year runs from 1 July to 30 June.

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# 1. Revenue Structure

The Chinese University of Hong Kong's income falls into the following main categories, which are standard across UGC-funded universities in Hong Kong:

For total income and category breakdowns see the annual financial reports^※ (updated yearly). The 2023–24 Annual Report is publicly available on the official website; figures in that report are the most authoritative. How tuition and self-financing programmes support this revenue line, and how the UGC triennial allocation works, are covered in Tuition & Self-financing Programme Finance.

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# 2. Specific Annual Financial Figures (2023/24 Financial Year)

Reporting basis note: CUHK's financial year is 1 July to 30 June. The figures below are drawn from the "Financial Review" section of the Annual Report 2023–2024 and presented in parallel on two bases: (1) University basis: From the Financial Review tables (Table 1 / Table 2) and net-asset analysis in the Annual Report — the principal data used in this section. (2) Consolidated / Group basis (including subsidiaries): Figures from the Treasurer's Report released by the Communications Office and relayed in press reports (covering CUHK Medical Centre and other subsidiary entities). These are not directly additive or comparable with the University-basis figures; they are stated separately and the source type is noted as press reporting. Where an item has not been separately disclosed in official sources (e.g. the market value of the consolidated Endowment Fund), the entry is explicitly marked "Not disclosed" and no estimate is made.

# 2.1 Total Income and Category Breakdown (University basis, year ended 30 June 2024)

According to Annual Report Financial Review (html5/66)^※, total University income for 2023/24 was HK$13,161 million (approximately HK$13.16 billion) , up from HK$11,205 million the previous year — an increase of HK$1,956 million, or 17.5%^※. Amounts and percentages by category are:

Supplementary notes:

• Within the tuition figure, the Annual Report states that about 60% comes from non-UGC-funded programmes (self-financing programmes)^※.
• Interest and Net Investment Income rose sharply from HK$840 million the previous year to HK$1,952 million (an increase of HK$1,112 million)^※, which the Annual Report attributes to the recovery in global investment markets, realised and unrealised gains on securities, and interest income generated in a high-interest-rate environment.
• Donations and Benefactions increased from HK$564 million the previous year to HK$661 million^※.
• "Research funding" is not presented as a separate line in the above table; research-related grants are distributed across Government Subventions (UGC earmarked grants), Restricted Funds, and other categories. For combined earmarked/restricted income in the Annual Report, see §2.3.

# 2.2 Expenditure and Surplus (University basis)

According to the Annual Report expenditure table (html5/67)^※, total University expenditure for 2023/24 was HK$10,227 million (up from HK$9,370 million the previous year^※). Total comprehensive income (surplus) for the same year was HK$2,933 million, consistent with "total income 13,161 − total expenditure 10,227 ≈ 2,934".

# 2.3 Reserves / Net Assets (University basis, as at 30 June 2024)

According to the Annual Report net assets analysis (html5/65)^※, as at 30 June 2024 the University's net assets (total funds / total reserves) stood at HK$31.56 billion (approximately HK$31.56 billion) , an increase of about HK$2.9 billion or 10.2% over the previous year. The composition was:

The same Annual Report also notes: investment assets increased by HK$4.4 billion, or 38.4%^※; cash and bank deposits fell to about HK$15.3 billion^※.

# 2.4 Endowment Fund Balance

CUHK maintains a permanent endowment fund (for naming thresholds and operation, see §3), but the official Annual Report's Financial Review does not separately disclose the aggregate market value of the consolidated Endowment Fund — its donations and earmarked sums are reported within "Restricted Funds HK$26,580 million" in the table above. The Office of Institutional Advancement's General Endowment Fund page^※ also does not state the fund's total market value.

Separate market value of the consolidated Endowment Fund: Not disclosed (no separate disclosure in official public channels). This archive does not treat third-party estimates as official figures.

# 2.5 Consolidated / Group Basis (Group, reported in press, listed separately)

Note: the following figures are from the "Treasurer's Report" released by the Communications Office and relayed in press reports on a consolidated (Group) basis including subsidiaries. They are on a different reporting basis from the University figures above and must not be mixed or added together. Source: Wen Wei Po (2024-12-25)^※:

The report states that CUHK's consolidated surplus more than doubled from HK$1.05 billion the previous year to HK$2.23 billion, principally due to UGC block grants, supplementary grants, and earmarked grants for research, teaching and student development^※. This "HK$2.23 billion" consolidated surplus differs from the University-basis total comprehensive income of "HK$2,933 million" because of the different consolidation scope.

# 2.6 Sector Context: UGC-Funded Reserves and Clawback

• According to a SCMP (2024-12)^※, in 2023/24 the total reserves of Hong Kong's eight UGC-funded universities combined were approximately HK$139.3 billion (comprising HK$17.6 billion in UGC-funded reserves and HK$121.7 billion in non-UGC-funded reserves). A contemporaneous report indicated CUHK's reserves ranked second among the eight institutions^※ (HKU was first, at about HK$41.5 billion; the report noted that only HKUST had separately disclosed its specific reserve figure).
• According to a HK01 (2025-04)^※, under the government's arrangement requiring the eight UGC-funded institutions to return part of their reserves, CUHK was required to return the largest amount, at approximately HK$1.04 billion; the report also cited CUHK's relevant reserve fund balance at about HK$2.893 billion (UGC-funded basis, reported April 2025). This basis differs from the University net assets of HK$31.56 billion above (which includes restricted and non-UGC funds); do not conflate the two.

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# 3. Endowment Fund

According to the Office of Institutional Advancement^※, the University maintains a permanent Endowment Fund, and donors may establish Named Endowment Funds. The threshold for establishing a named fund is HK$3 million, with the investment return (approximately HK$90,000 per year) used to support scholarships or academic purposes while the principal is held in perpetuity.

Scale of named endowment funds (the threshold reflects the official standard current around 2024; refer to the latest official guidelines for the most up-to-date figure).

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# 4. Major Named Donations (Colleges and Buildings)

# 4.1 Named Colleges

Note: "Year Established" is taken in the broader sense (year of formal recognition). The five new colleges — Morningside, S.H. Ho, Wu Yee Sun, Lee Woo Sing, and C.W. Chu — were announced successively from 2006 and became fully operational with the restoration of the four-year curriculum in 2012.

# 4.2 Selected Named Buildings and Facilities

The above is a selection of named buildings. For a complete list of buildings, see buildings-landmarks.md.

# 4.3 Sample Named Professorships

CUHK has over one hundred donor-named chairs (Named Chairs / Endowed Professorships). A sample:

• Tang Chun-I Visiting Professorship — commemorating the philosopher Tang Chun-i
• The Shaw Professorship series — associated with Shaw College
• Named chairs in various clinical departments of the Faculty of Medicine (named after donor families)

For the most current list of endowed chairs, consult the latest University announcements; details can be found in the Annual Report 2023–2024^※.

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# 5. Major Recent Donations (Sample)

For new donations released in real time, see the Office of Institutional Advancement website^※. Amounts are as stated in official announcements; this archive does not estimate donation amounts that have not been publicly announced.

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# 6. Obtaining Financial Reports

Annual financial reports (including total income, expenditure breakdowns, reserves, and endowment fund balances) are available through the following official channels:

• CUHK Finance Office — Financial Report^※ (2023–24 and 2024–25 reports are public)
• Annual Reports^※ (containing financial highlights and donor lists)

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