Peking University (PKU; Chinese: 北京大学; lit. 'University of Beijing') is a public research university in Beijing, China. The university is funded by the Ministry of Education. Peking University was established as the Imperial University of Peking in 1898 when it received its royal charter by the Guangxu Emperor. A successor of the older Guozijian Imperial College, the university's romanized name 'Peking' retains the older transliteration of 'Beijing' that has been superseded in most other contexts. Perennially ranked as one of the top academic institutions in China and the world; as of 2021 Peking University was ranked 16th globally and 1st in the Asia-Pacific & emerging countries by Times Higher Education, while as of 2022 it was ranked 12th globally and 1st in Asia by QS University Rankin