China prides in
its education system. The Chinese government promotes State Run
Public Education for all its citizens. It is compulsory for all
citizens to attend school for a minimum of 9 years. According to the
Ministry of Education, primary school has a 99% attendance rate
whereas primary and middle schools boast of 80% attendance.
In 1985, the
government of China went ahead and did away with tax – funded
higher education o that the candidates applying in Universities
compete for scholarships depending on their academic performance.
Private Education was introduced for the first time in China in the
early 1980’s.
Chinese
spending has grown by 20% per year since 1999, now reaching over
$100bn, and as many as 1.5 million science and engineering students
graduated from Chinese universities in 2006. China published 184,080
papers as of 2008.
{Source:
Su, Xiaohuan (28 March
2011), China
'to overtake US on science' in two years,
BBC World News}
With
the contribution from big investors in the field of Online Education,
the education industry is booming right now. The candidates staying
in far off places and under developed areas are the ones who have
benefitted the most from Online Education. Even all the working
people who could not pursue their higher education, online learning
proved to be a boon for them.
The
Ministry of Education has approved 68 ordinary schools of higher
learning and the Central Radio and TV University to pilot modern
distance education. By the end of 2003, these schools had established
2,027 off-campus learning centers around China, offering 140 majors
in ten disciplines, and had a total enrollment of 1.373 million.
The
gradual spread of broadband technology has also helped online
education. The China
Education and Research Network (CERNET), started in 1994, is now
China's second largest Internet network, covering all major cities of
China. The high-speed connection between it and the China Education
Broadband Satellite Net, opened in 2000, established a "space to
earth" transmission platform for modern distance education, and
provided an all-round network supporting environment for distance
education.
{Source:
http://en.wikipedia.org/wiki/Education_in_the_People%27s_Republic_of_China#Adult_and_online_education}
2011 has marked
the rise of Online education and training in China which reached
CNY60 billion. And if we are to go by the trend then it will reach
CNY72.3 billion in 2012.
By the end
of 2011, the number of China education enterprises listed in America
is 11 (including Global Education & Technology Co., Ltd. which
acquired by Pearson Education Group and is about to cease trading).
China Cast Education Corporation logins OTCBB via SPAC then turns to
NasdaqGS; CEU belongs to backdoor listing; the rest nine education
enterprises belong to IPO and the total financing is $ 915 million,
the total market capitalization is approximate $ 5.3 billion. China
Edu Corporation, China Cast Education Corporation, CEU, China
Distance Education Holding Ltd., GEDU, New
Oriental,
Xueersi, Ambow and ATA have opened online education and training
business except for Xueda and Noah. The former nine enterprises'
businesses also cover parenting education, entrance examination
coaching, language training, network higher education, vocational
certification training, corporate E-learning and online education
services.
{Source:
http://www.sacbee.com/2012/12/03/5026792/research-on-online-education-and.html}
According
to statistics, in China, over 90% of primary and secondary school
students and their parents have an urgent demand for education
service with low-cost, high-quality and sustainable development. More
than 75% of the workers are under various degrees of continued
training; more than 50% of enterprises managers take initiatively
participate in professional learning and training; 45 % of young
people are learning foreign language. The total number of people who
need high-quality education and training resources across the country
reached 380 million. If 30% of them have the online education
training conditions, the annual per capita consumption of online
education and training is CNY600, the total market space is CNY70
billion.
{Source:
http://www.sacbee.com/2012/12/03/5026792/research-on-online-education-and.html}
The current
prevailing scenario in China is ideal for online education. It is an
era where education plays a pivotal role in shaping and changing the
future of a country. And China regards Online Education as an
important means to promote the overall development of the country.
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