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Foreign Education Market in China: The Tertiary Education
As part of a lengthy process of social and economic change, China’s accession to the World Trade Organization (WTO) has long-term effects. As foreign companies penetrate the market, competition is on the increase in many sectors. The government in its 10th Five Year Plan stresses the importance of education; its planned sector spending level is about Y414 billion (US$50 billion) annually. China’s population is aware of the need for life-long learning in a complex world and demand for higher learning is rising quickly.
With an estimated value of RMB17.4 billion (US$2.1 billion) in 2002, China’s higher education market is large and growing. It presents risks and opportunities to investors in a competitive domestic environment. Annually, overseas universities are providing education to about 25,000 new students willing to be self-funded. One study concluded that “A fast domestic economic growth thus a better financial background of Chinese students, together with a still unsatisfying domestic high education, have resulted in the continual increase of students studying abroad.” This indicates that there are growth areas for potential investment in the domestic education market. Benefiting from China’s open door policy, many sub sectors have flourished.
In the late 70s and early 80s, Deng Xiaoping（邓小平） reverted to educational policies initiated during the early 1960s. His guiding principle was educational reforms to actualize the “Four Modernizations” (advances in agriculture, industry, national defense, and science and technology) while at the same time keeping to the “Four Cardinal Principles” (the socialist road, the people's democratic dictatorship, the Chinese Communist Party leadership, and Marxism-Leninism-Mao Zedong thought).
In 1985 the State promulgated the Compulsory Education Law and implemented national 9-year compulsory schooling in a systematic and planned way (6 years of primary school and 3 years of junior high school). After these 9 years, students are encouraged to further their studies in high schools and tertiary schools.
Principal objectives for the education system in the post-Mao(毛泽东) era are:
To bring about the “Four Modernizations(四个现代化)”;
To increase state funding for education;
To ensure that the education system supplies a sufficient number of highly qualified personnel;
To institute a 9-year compulsory education policy;
To expand the system of technical and vocational education;
To reform higher education, eg, to change the system of job assignments to graduates;
To grant more decision-making powers to colleges and universities;
To strengthen educational leadership;
To establish a State Education Commission (SEC). (This has a higher status than the previous Ministry of Education, roughly equivalent to that of the State Economic Commission);
To establish as the chief executive officer of the unit the president of a college or university, or the principal of a school In light of the weaknesses in the domestic higher education sector, China Knowledge Consulting has identified opportunities in two key areas: Investment, particularly in higher learning other countries becoming higher learning destinations.
With urban income increasing rapidly, it has been forecast that there will be an increase in higher education consumption in 2003-2013 and beyond. Many of the successful educational institutes have stayed ahead of the competition through a synergetic approach to their business and corporate strategies to form core competencies.
With an estimated value of RMB17.4 billion (US$2.1 billion) in 2002, China’s higher education market is large and growing. It presents risks and opportunities to investors in a competitive domestic environment. Annually, overseas universities are providing education to about 25,000 new students willing to be self-funded. One study concluded that “A fast domestic economic growth thus a better financial background of Chinese students, together with a still unsatisfying domestic high education, have resulted in the continual increase of students studying abroad.” This indicates that there are growth areas for potential investment in the domestic education market. Benefiting from China’s open door policy, many sub sectors have flourished.
In the late 70s and early 80s, Deng Xiaoping（邓小平） reverted to educational policies initiated during the early 1960s. His guiding principle was educational reforms to actualize the “Four Modernizations” (advances in agriculture, industry, national defense, and science and technology) while at the same time keeping to the “Four Cardinal Principles” (the socialist road, the people's democratic dictatorship, the Chinese Communist Party leadership, and Marxism-Leninism-Mao Zedong thought).
In 1985 the State promulgated the Compulsory Education Law and implemented national 9-year compulsory schooling in a systematic and planned way (6 years of primary school and 3 years of junior high school). After these 9 years, students are encouraged to further their studies in high schools and tertiary schools.
Principal objectives for the education system in the post-Mao(毛泽东) era are:
To bring about the “Four Modernizations(四个现代化)”;
To increase state funding for education;
To ensure that the education system supplies a sufficient number of highly qualified personnel;
To institute a 9-year compulsory education policy;
To expand the system of technical and vocational education;
To reform higher education, eg, to change the system of job assignments to graduates;
To grant more decision-making powers to colleges and universities;
To strengthen educational leadership;
To establish a State Education Commission (SEC). (This has a higher status than the previous Ministry of Education, roughly equivalent to that of the State Economic Commission);
To establish as the chief executive officer of the unit the president of a college or university, or the principal of a school In light of the weaknesses in the domestic higher education sector, China Knowledge Consulting has identified opportunities in two key areas: Investment, particularly in higher learning other countries becoming higher learning destinations.
With urban income increasing rapidly, it has been forecast that there will be an increase in higher education consumption in 2003-2013 and beyond. Many of the successful educational institutes have stayed ahead of the competition through a synergetic approach to their business and corporate strategies to form core competencies.
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