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From the Market: Education

From the Market: Education
 
     
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KPMG's recent ‘Education in China’ report provides some remarkable statistics about the country's education system. Between 2001 and 2009, the number of graduates in China increased six times from 1.1 million to 6.1 million, and it is estimated that 7.6 million students will graduate in 2011. Degree holders now make up 7.4 per cent of the total population, and in 2009 the Chinese government spent RMB 198 billion on the education sector – 4.5 per cent of total government expenditure for that year. This surely indicates ample opportunities for UK companies to become involved in the education sector.

Under current regulations, foreign investors are permitted to operate educational institutions as joint ventures for senior secondary schools, universities, vocational schools, and training. As of 30 October 2009, 30 approved Sino-foreign joint venture universities were operating in China, along with approximately 350 Sino-foreign university programmes leading to foreign degrees.

As well as increasing access to education, the Chinese government is implementing a number of measures to help graduates find jobs. It has pledged RMB 42 billion to tackle the issue of graduate unemployment, and there are schemes in place to encourage graduates to join the army or work and teach in remote areas for a few years after graduation. There are also loan incentives for labour-intensive companies to hire graduates and loans for graduates to start up their own businesses, as well as other grass-roots graduate internship schemes.

For more information please contact giles.blackburne@cbbc.org

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