The Chinese University of Hong Kong (CUHK) will dip into its reserves to repay a HK$4 billion (US$510.9 million) government loan owed by its debt-ridden private hospital, the institution’s council chairman has said.
The finances of the CUHK Medical Centre were on the agenda of Friday’s Legislative Council health panel meeting, but the discussion was rescheduled because the time was exhausted by other matters.
Speaking to media after the meeting, council chairman John Chai Yat-chiu said his institution raised the early loan repayment proposal with the Health Bureau last month.
“The extension of the repayment period approved last year has granted us the necessary breathing room to optimise our governance and operations, and I’m pleased to report that we have seen a turnaround,” he said.
“At the same time, the returns from the university reserve fund have performed well over the past two years and led to an increase in our reserves. Therefore, after careful consideration, the council has approved the use of a portion of the undesignated fund to repay the debt earlier, in the form of a loan to the hospital.”
CUHK’s consolidated net assets stood at HK$32.5 billion as of June 30, 2025, according to the university’s annual report.
