Hujiang EdTech Strategically Partners with Free Trade Zone Equity Fund to Expand Online Education in China
SHANGHAI, Sept. 21, 2017 /PRNewswire/ -- Hujiang EdTech ("the Company"), China's leading online education company, announced that it has launched its strategical partnership with the Free Trade Zone Equity Fund (FTZ Fund) and Wanxin Media of Anhui province, to boost its business expansion and establish a fund for investing in other online educational businesses.
The FTZ Fund is the first fund in China to be initiated and guided by a national free trade zone, the Shanghai Pilot Free Trade Zone, to support both leading industrial players and new ventures. Teaming up with this State-level fund allows Hujiang EdTech to leverage resources in free trade zones around the country, which will help the Company integrate its businesses in different sectors, according to Arnold Fu, founder and CEO of Hujiang EdTech.
Fu said that the Company values its partnership with FTZ Fund and Wanxin Media as it supports their plan to develop intelligent e-learning products. Hujiang EdTech has established the Hujiang Intelligent Learning Lab (HILL), an e-learning laboratory, to support the development and implementation of intelligent technology, essentially focusing on exploration in the fields of education, psychology, and computer science. Fu is expecting a whole range of new products to hit the market soon.
According to Hu Jianyang, deputy general manager of the Free Trade Equity Fund, the online education industry in China has been booming over the last three or four years, with the market growing at a rate of 20 to 30%. Statistics show that by the end of 2017, the market's value will reach nearly US$30 billion.
"We choose Hujiang as our partner because of its solid experience in the industry and its persistence in honing its IT-related expertise. The success of Hujiang tells us that the future of online education is promising if you find the right approach to do it," said Hu Jianyang.
Together with the FTZ Fund and Wanxin Media, Hujiang EdTech has set up a joint fund to support online educational companies. Since 2016, Hujiang EdTech has invested in 12 prominent e-learning projects from international and domestic companies, forming an industrial chain for online education in China.
About Hujiang EdTech
Founded in 2001, Hujiang EdTech started as an online BBS community offering online courses and has grown to become one of China's leading online education companies. Hujiang EdTech strives to make high-quality education more accessible and enjoyable through mobile learning applications, online courses, and its interactive online teaching platform. Serving over 150 million users (including 120 million mobile users) in China, Hujiang EdTech offers a wide range of online educational programs, including international & domestic examination preparation, foreign language learning, professional skills training, and more.
SOURCE Hujiang EdTech
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