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This paper investigates how philanthropic organizations shape education policy in Hong Kong under globalization and neoliberal governance. Drawing on Ball and Junemann (2011) and Ball and Olmedo (2012), it examines philanthropy’s role beyond financial support, fostering cross-sector collaborations that influence educational outcomes. The study analyzes “philanthropic governance,” which introduces new policy dynamics through hierarchical, market-driven, and collaborative approaches. While not yet dominant, this governance model reshapes educational policy landscapes. The findings emphasize the need for further research on philanthropy’s economic, social, and political impacts to ensure equitable educational systems in Hong Kong.