China is counting on innovation to drive economic growth.
And that ability to innovate depends heavily on skill level and knowledge.
That’s why the government is beefing up its investments in education. CCTV’s Xing Zheming reports.
China's private education sector sees growth opportunitiesChina is counting on innovation to drive economic growth. And that ability to innovate depends heavily on skill level and knowledge. That's why the government is beefing up its investments in education. CCTV’s Xing Zheming reports.
The Chinese government hopes the education services sector will become one of the five service industries to boost economic growth, and that there will be greater demand for diversified education services in the future.
“Since 1978, China’s private education sector rose from nothing to the large scale that it is today. There are now over 150,000 non-government schools across China, with over 40 million students receiving education from private schools. Private education accounts for over 25 percent of China’s overall education sector. State-run schools now provide basic, fair and balanced education with good quality, whereas non-government education has become the alternative choice — through providing high-level, characteristic, and personalised education services to the society,” Wang Wenyuan, Secretary General of China Association for non-government education said.
Meanwhile, Chinese lawmakers are revising the law on the promotion of non-government education.
Previously, private schools were only allowed to register as non-profit organizations. Investors and school owners could only retain a “reasonable” amount of profits. This drives many investors away.
The revised law will allow private education institutions to be registered as profitable entities. This key difference will attract more investment in this sector.
Meanwhile, lawmakers hope that more non-profit schools can be established in the future. These schools will rely on donations, charity and funding from society.
Professor Dali Yang on education in China
For more on education in China, CCTV America’s Rachelle Akuffo spoke to Dali Yang. He is Professor in the Department of Political Science at the University of Chicago. He is also founding Faculty Director University of Chicago Center in Beijing.