This study investigates the critical factors influencing students' satisfaction with university-business cooperation (UBC) in postgraduate education, focusing on Chinese universities of applied sciences. Employing a comprehensive research model, we utilised multivariate statistical analysis methods, including canonical correlation analysis, partial correlation analysis, principal component analysis (PCA), and cluster analysis, to validate our measurement and hypotheses. Our findings reveal that teaching, tutor supervision, practical relevance, and individual development are primary determinants of students' satisfaction with UBC in postgraduate education. Additionally, significant correlations exist between these factors, consistent with our proposed research model. The study emphasises the importance of fostering effective UBC for enhancing postgraduate education quality. Practical implications and recommendations for stakeholders are discussed, contributing both to the academic understanding of UBC and offering actionable insights for educational institutions and businesses. Future research directions in this field are also suggested.