How scholarships make studying business in China affordable for international students

Long known as a prolific exporter of students, in recent years China has grown its renown as a higher education study destination for incomers too. More than a quarter of a million international students traveled to the country to enroll in programs in 2024. 

The strong reputation of the country’s universities make this an unsurprising development. Savvy business school applicants know that China's MBAs feature prominently in major global rankings such as the Financial Times, QS, and Bloomberg, with tuition fees often a fraction of the cost in the United States. Located in some of Asia’s biggest economic and innovation hubs, Chinese MBA programs at the country's leading universities allow students to progress their careers via unique access to fast-growing companies and industries.

Better yet, many Chinese business programs also offer a wide range of scholarships for international students. Explore our rundown of the different types of scholarships available at some of the top institutions in China.

GMAT Scholarships

You probably know by now that getting a good score on your GMAT brings plenty of benefits—but did you know it could also net you a scholarship? Ranked in the top 100 globally by QS, The School of Management at Zhejiang University (ZJUSOM) is a triple-accredited business school that offers sizeable discounts on your tuition fees based on your GMAT score. A score of 750 or more on the GMAT (705 on the 11th Edition/Focus) would lead to a 50% discount on your tuition fees at ZJUSOM; 680 (625 on the 11th Edition) would lead to a 25% discount; while a score of 630 (585 on the 11th Edition) would lead to a discount of 20,000 RMB (around US$2,750).

To put these figures into context, this means you could save up to around US$15,000 in tuition at the Global MBA at ZJUSOM, with a strong GMAT score.

Antai College of Economics and Management at Shanghai Jiao Tong University (SJTU) is another Chinese school with a strong global reputation, currently ranked #52 in the world by The Times Higher Education and #45 by QS. SJTU offers plenty of scholarships based on GMAT score. You can qualify for a 50% discount on your full-time MBA tuition fees if you achieve a GMAT score of 730 or more (675 on the 11th Edition/Focus), a 25% discount for scores of 680 (625) or more, or a 50,000 RMB (US$6,870) discount on scores of 630 (585) or more.

Similarly, there are additional scholarships available at Fudan University School of Management (FDSM), whose International MBA program is impressively ranked #30 in the world in the Financial Times Global MBA ranking and offered jointly with MIT Sloan. Fudan offers up to 100% discount for GMAT scores of 750 (715) or above. Additionally, score between 710 and 750 (665-715 on the 11th Edition/Focus) to qualify for a 50% discount; between 680 and 710 (Focus: 625 - 665) for a 30% discount, and finally, a score between 650 and 680 (Focus: 595-625) for a 40,000 RMB (approx. US$5,490) discount.

These are considerable discounts that make an MBA in China attractive, even before you consider the jobs that the prestigious qualification can help you land.

Renmin Business School (RMBS) was one of the first business schools in China to offer the MBA degree and has been accredited by both the AACSB and EQUIS. The scholarships at RMBS include a discount of 30,000 RMB (US$4,120) on your MBA tuition fees if you score 710 (665 or more on your GMAT. Scores between 670 and 709 will earn you a 20,000 RMB (US$2,740) discount, while a score of 630-669 could lead to a 10,000 RMB (US$1,370) discount upon enrollment.

The scholarships at RMBS include a discount of 30,000 RMB (US$4,120) on your MBA tuition fees if you score 710 (11th Edition/Focus 665) or more on your GMAT. A score of 680 (Focus: 625) and above will earn you a 20,000 RMB (US$2,740) discount, while a score of 650 (Focus Edition 605) and above could lead to a 10,000 RMB (US$1,370) discount upon enrollment.

Institutional Scholarships

Many Chinese universities offer their own scholarships to international students.

That’s certainly the case at Tsinghua University School of Economics and Management (Tsinghua SEM), which is considered to be one of the top 100 business schools in the world and number one in China in the most recent QS MBA ranking. It offers a range of scholarships based on the quality of your application and interview performance. Some of these cover up to 100% of the fees and include the Tsinghua MBA Distinguished Student Scholarship (up to 198,000 RMB / US$27,190), Tsinghua MBA Exemplary Student Scholarship (up to 150,000 RMB / US$20,600), and The Belt and Road Initiative Scholarship (up to 198,000 RMB / US$27,190).

International Tsinghua SEM students could also receive a scholarship for a smaller amount based on criteria such as diversity, entrepreneurship, and social impact. All admitted students are automatically considered for these awards.

There are also merit-based scholarships on offer at RMBS. Students with strong academic and professional experience may be eligible to receive a half or full tuition waiver, which could amount to as much as 178,000 RMB (US$25,430). You may still be eligible if you can display either strong academic or professional experience.

Fudan, meanwhile, offers a range of scholarships to students based on their academic performance, personal accomplishments, interview performance, potential contribution to the program, and other factors. Scholarship categories include: diversity, entrepreneurship, excellence, women leadership, social responsibility and young talent. Again, if you gain admission to Fudan’s International MBA then you’ll automatically be considered for these scholarships.

Additionally, Fudan also offers an IMBA“Xing Quan”Belt and Road Scholarship, which is specifically focused on students who keen to deepen their understanding of the Belt and Road Initiative, as well as Chinese Language Immersion (CLI) Scholarships, which can cover the full tuition fees for study on the program.

Meanwhile, at Shanghai Jiao Tong, applicants who are Chartered Financial Analyst qualified can also receive scholarships of up to 15,000 RMB. 

National and Local Government Scholarships

International students in China can also apply for scholarships through national or local governments. The China Scholarship Council (CSC) offers tuition waivers, free accommodation, medical insurance, and monthly subsidies to international students in China.

To be considered for a scholarship from the CSC, you’ll have to apply directly via the CSC website at the same time as you submit your business school application.

In addition, local governments in China offer scholarships to international students. For example, students applying to RMBS in Beijing can also apply for the Beijing Municipal Outstanding Scholarship. That includes either half or full tuition waiver, with students applying for the prize via the RMBS website.

Application Scholarships

At some universities in China you could even win a scholarship just for applying early—as long as you’re accepted, of course.

At Shanghai Jiao Tong University, the top five applicants to the Antai MBA in rounds one and two of the application cycle will qualify for a special Early Bird Scholarship worth 10,000 RMB (US$1,370). It’s another reminder of why it’s so important to apply for your MBA as early as possible.

You could also be awarded a scholarship at SJTU based on your interview performance, with the top-rated interviewee winning a scholarship worth 50% of the total tuition. Applicants ranked 2nd to 4th will receive a 25% discount, while those ranked 5th to 13th are awarded a 50,000 RMB (US$6,865) award. 

As you can see, there are a huge range of scholarships on offer in China. Next might be deciding where in China to study.