In 2024, Shanxi province plans to invest 4 billion yuan ($552.91 million) to support the development of higher education, striving to build itself into a new hub for higher education in central and western China.

The 4-billion-yuan fund was allocated by the province under the proposal of the 10-billion-yuan Higher Education Project, which was launched in 2023. From 2023 to 2025, Shanxi plans to allocate a total of 10 billion yuan into various funds for education, technology, and talent.

This 4-billion-yuan fund will be partly utilized to support Shanxi University and Taiyuan University of Technology in fostering academicians, outstanding young scholars, Changjiang scholars, and other high-level talent teams. This will enable both institutions to achieve world-class levels in several academic disciplines and fields.

The fund will also be used to support doctoral degree-granting institutions, such as North University of China and Shanxi Medical University, to cultivate top talents and produce outstanding achievements. These educational institutions aim to be included in the list of "Double First-Class" universities and colleges – world-class institutions with first-class disciplines.

Furthermore, several non-doctoral degree-granting institutions will also get the financial support to conduct high-level applied scientific research, discipline construction, and the exploration in specialized industry, so as to achieve the integration between education and industry.

At the same time, universities that have achieved outstanding results in the construction of world-class talent teams, key discipline specialties, and important platforms will also be financially supported.