Collection development in libraries is facing challenges from shrinking budget, rising costs of materials, and growth of electronic resources. Several methods are used by university libraries, such as, reducing expenditures for monographs, canceling print periodical subscriptions, enhancing interlibrary loan and document delivery services, participating library consortia, establishing cooperative collection development programs. This paper discusses those methods by citing related statistics data. It indicates that some problems are solved, yet, they may bring new problems. Libraries need to rethink the issues from aspects of ownership and access.