Development of Chinese Funding System under the New Normal Economic Development: Psychology and Rehabilitation Perspectives

Abstract

The development of the Chinese funding system within the context of the New Normal economic development from psychology and rehabilitation perspectives marks a pivotal aspect of the nation’s commitment to education equity, poverty alleviation, and the enhancement of overall economic and social well-being. This abstract provides an overview of the evolution of the education funding system in China, highlighting its growing sophistication and the shift towards more comprehensive and precise funding policies. It also emphasizes the increasing richness and rationality of fund allocation structures within various stages of education. As China’s economy transitions into the new normal phase, its education funding system has undergone significant enhancements. These improvements are geared towards addressing the multifaceted challenges related to education access and quality, with a focus on ensuring that education remains an essential element of poverty alleviation and social development. The commitment to this people-centric approach is evident in the continuous refinement of funding policies, which now consider a broader spectrum of educational needs. In recent years, there has been a notable shift in the priorities of financial aid within the Chinese education system. While access to education remains a key concern, there is a growing recognition of the need for more practical and effective strategies to prevent students from dropping out of school due to family economic hardships. The evolving funding system is not only about ensuring access but also fostering students’ self-development capabilities, empowering them to thrive in an increasingly competitive global environment. Furthermore, the Chinese education funding system has evolved substantially under the new normal economic development from psychology and rehabilitation perspectives paradigm. It has embraced a holistic approach that encompasses not only the expansion of educational access but also the refinement of funding policies to cater to a wider range of educational needs. This forward-looking system seeks to empower students with the skills and resources necessary to navigate the challenges of the modern world, thus contributing to the broader goals of economic and social development, poverty reduction, and enhanced livelihoods for all citizens.

Key words：Student financial aid, Education finance, Funding system, Psychology, Rehabilitation