The US and Europe are among the common regions international students turn to when looking for a business school to study abroad at, but China and Hong Kong are quickly rising as business education powerhouses, if rankings are anything to go by.
As the second-largest economy in the world and with Chinese being among the most widely spoken languages in the world (Babble estimates that roughly 917 million of the population speak Mandarin), studying in China and Hong Kong can be a launchpad for success for many business-minded individuals.
It’s unsurprising why China has already attracted close to half a million international students to its shores. Here’s why you should consider attending a business school in China and Hong Kong:
Top business schools
Over the years, business schools in China and Hong Kong have steadily climbed university rankings. The 2019 QS Global MBA Rankings: Asia lists the China Europe International Business School (CEIBS) and the University of Hong Kong as among the top three institutions that are offering top full-time MBA programmes in the region. “This Chinese business school achieves its highest score for entrepreneurship and alumni outcomes, a metric which is particularly significant given the growing demand from students for MBA programmes to incorporate entrepreneurial elements,” said QS.
Meanwhile, according to The Economist, when the Financial Times first published its annual ranking of the world’s 100 best MBAs list in 1999, no Asian school made the cut. “This year 17 have done, nine of them Chinese. Seven Chinese institutions are among the 90 or so worldwide to boast the coveted “triple crown” of accreditations — from bodies in America, Belgium and Britain,” it said.
CEIBS and HKUST Business School were ranked fifth and 19th respectively in Financial Times’ Global MBA Ranking 2020, while other schools that appear in the top 50 include Fudan University School of Management, Shanghai Jiao Tong University: Antai, the Renmin University of China Business School (RMBS)Featured business school, the Shanghai University of Finance and Economics: College of Business and the CUHK Business School.
Affordable options for a business education
For many, cost is a major factor when deciding which business school to attend. Quality education aside, China and Hong Kong can offer prospective business students an affordable education when compared to traditional powerhouses such as the US and Europe.
For a rough idea, in 2019, the tuition for the International MBA students at Renmin University of China Business School for the year 2019 is RMB178,000 (US$26,000) while an MBA at HKUST Business School can cost students approximately US$105,400. Conversely, the BusinessBecause Cost of MBA Report 2020 notes that the average total MBA cost by location is US$123,000 in the US and US$118,000 in Europe. Without a doubt, China can offer students a more affordable alternative than traditional B-school destinations.
Potential job opportunities
China is home to several of the world’s global financial centres and renowned corporations in the world, including ByteDance, Huawei and Alibaba, to name a few, making it an attractive location for job opportunities. For instance, a whopping eight cities in mainland China were on the top 100 list in the 27th edition of the Global Financial Centers Index (GFCI 27). This includes Shanghai, Beijing, Shenzhen, Guangzhou, Chengdu, Hangzhou, Qingdao and Tianjin.
Xinhuanet reported that Shanghai ranked among the top five in fields of banking, investment management, insurance and professional services in all of the last four index reports. “It leaped to second place in investment management in GFCI 27,” it said. As the country strengthens its economic competitiveness, that can only mean more growth and job opportunities.
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