SHENZHEN, China, May 31, 2016 /PRNewswire/ -- China's education industry has developed to include over 50,000 internet based education firms and 30,000 non-public schools. Now, it is preparing for the next round of development as new laws on Education and Promotion of Non-public Schools of the People's Republic of China come into effect.
There is over 100 billion RMB in educational investments to be made, yet questions remain over the barriers and challenges of industry consolidation and investment focus, and, for K-12 schools in particular, a diversified capital environment.
On May 26, 2016, the "Seeking Social Impact-China's Education Industry Moves Towards Capital Markets" Forum & Roadshow began, hosted by Peking University Shenzhen Institute, First Capital Fund, and the Mobile Internet Education Industry Alliance in Shenzhen and led by Shenzhen Stock Exchange and Shenzhen Culture Assets and Equity Exchange. Co-organizers included the Chinese Society of Education, Tsinghua University Shenzhen Graduate School, Shenzhen Innovation Corporate Social Responsibility Development Center (CSRDC) and Ivy Elite Education Association (IEEA).
The event aims to establish a set of quality standards and an evaluation system for K-12 education across China. These standards and systems would embody value for education investment, build education-focused funds, and create initiative for leadership in development of the capitalization of this new education industry.
The event included an array of industry experts, including: professor Dai Jiagan, former director of the National Education Examinations Authority in the Ministry of Education and Vice Chairman of the Standing Committee of Chinese Society of Education; Tan Wenchang, President of Peking University Shenzhen Institute; Hao Xiaohui, Chairman of First Capital Fund; Liang Yudong, Partner in the Internet Education Industry Investment Funds (FOF); and Wu Chaoze, Chief analyst of China Securities. The speakers delivered memorable speeches to over 300 guests from throughout the country attending the forum.
Professor Dai spoke about the education industry's monetization of conceptual resources, marketization of monopolistic resources, and the commercialization of non-commercial resources. He added that in the highly government-monopolized K-12 education field, the education industry especially needs to build awareness of management and quality to embrace an era of diversified capitalization.
Mr. Hao's First Capital Fund has invested nearly RMB 20 billion across the entire education industry chain. He remarked that in the near future, increased integration in China's education and investments would create a win-win situation. Ms. Miao pointed out that a social impact investment system in the educational field is needed while also pushing for development of "leaders in education enterprises" who can truly guide post-investment management of barriers and risks.
Mr. Liang explained to make China's education industry, especially the K-12 schools, ready and capable of embracing the diversified investment environment, the industry must build a K-12 educational standard aligned with the quality of mainstream education and the investment value. He also said it is necessary to establish a set of value standards for social impact investment in China's education sector.
Liang further proposed that introduction of global professional resources to establish the standards and evaluation systems on quality education would be necessary for embodying value for both investment and education. Liang advocated to undertake technology-driven big data analysis and application and to drive social impact investments in China's education standards and evaluation system.
Emily Hu spoke about the well-established standards and respected education quality evaluation systems in the United States being the key to its world leading position in the K-12 education industry and its capacity to utilize diversified investments in the sector. She pushed for China to accelerate the establishment of its own professional education standards and accreditation system.
IEEA is working together with education sectors and investment associations throughout China to adapt and utilize advanced American education standards and accreditation systems then to provide guidance in effectively running these systems. IEEA is aiming to have these accreditation systems accelerate China's introduction of quality curriculum, certify principals and teachers, and build the next generation of quality schools. All the moves will speed up the diversified and progressive development of China education for its moment in world stage.
China launches its first leadership development program on the capitalization of education industry
According to Mr. Tan, developing excellent inter-disciplinary talents is the top priority and the key to allow the widest range of quality social resources to flow into the education field and to promote education innovation. The next priority is setting up cross-board platforms and systems incorporating governments, enterprises, and social sectors.
It's a high time for the capitalization of China's education industry, yet there is a lack of talent with interdisciplinary expertise combining education and capital which has hindered the diversified capitalization process.
Peking University Shenzhen Institute has come together with relevant government departments, stock exchanges, financial and educational institutions, and global top-tier capital management and resources in a bid to develop leaders driving the capitalization of China's education industry. This program aims to cultivate a group of interdisciplinary talents with the global vision and skills to fully incorporate industrial and social impact capital as well as leading educational organizations into capital markets. At the same time, the increase of interdisciplinary talents will work to enhance China's education innovation driven by the diversified social capital.
SOURCE Shenzhen Innovation Corporate Social Responsibility Development Center