2019: China education development report 2018

  • Title: 2019: A new era of education: China education development report 2018
  • Author: Deloitte China
  • Description: With the adjustment of Chinese population structure and consumption upgrade in domestic market, education consumption has been playing an increasingly important part in China's household consumption, which allows China's education market to maintain the positive development situation. In this report, it is predicted that the scale of China's education market will hit RMB2.68 trillion in 2018. By 2020, the market of private education will grow to RMB3.36 trillion, driven by a favourable policy environment and, in particular, an eager capital market. We have seen 8 education companies going public in Hong Kong and the U.S during the period from the beginning of the year 2018 to early August. By June 2018, 137 deals have been made in the education market, with total investments (USD2.57 billion) surpassing that of the entire 2017. The surge has demonstrated great vitality and unbounded potential of China's education market. There is a pressing need for international schools to be upgraded, as they are at the forefront of changes. With China's rapid economic growth and accelerated pace of globalization, Chinese parents are spending more on children's education as their expectations rise, and they are becoming more appreciative of the integration of Chinese and foreign educational philosophies and teaching methods. The focus of education is shifting from examination performance to self-driven learning. Today, parents send their children to school for the purpose of adapting to a constantly evolving world, instead of learning for learning's sake. International schools should put themselves in a broader ecosystem in order to nurture talents for the future. The development of education industry is driven by technological innovations. In the government work report delivered to National People's Congress in 2018, Chinese Premier Li Keqiang stressed the importance of creating bigger and stronger emerging industrial clusters, implementing big data development action plan, stepping up next-generation artificial intelligence R&D and application, and advancing the Internet Plus model in various fields like health care, eldercare, education, culture and sports. Advancements in big data, AI and stereoscopic technologies may help us alleviate uneven distribution of resources and other issues in the education industry. Now, we need to respond to a significant challenge: how can we leverage new technologies to empower education in a more effective way? The future education industry will witness a rise of opportunities as well as challenges. Compared with traditional schools, education organizations will be subject to a more complex environment. These organizations will need to create, transmit and apply knowledge in a manner that aligns with the natural process of learning, while meeting market demand and ensuring profitability. In this scenario, challenges will mount in talent development, operational efficiency improvement and risk management. As the education market becomes increasingly affected by inflow of capital and commercial factors, education organizations will need to ensure market growth, further expansion and improved delicacy management without compromising their core competitiveness and quality of education, if they want to thrive in the face of tomorrow's opportunities and challenges.
  • Format: Pdf
  • Pages: 62

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