Concerns about possible dealmaking constraints hit Chinese education stocks

Asia/China/05.09.18/Por Kelly Olsen/Source: www.cnbc.com.

  • Chinese education stocks in Hong Kong came under pressure on concerns the central government is considering limited acquisitions.
  • Draft legislation for a new education law released Friday «spooked the market.»
  • The Chinese education sector is growing rapidly.

Stock prices in Chinese education companies listed in Hong Kong have come under pressure after the central government issued a draft proposal that would tighten regulations.

Shares in a number of the companies plunged on Monday, with some closing nearly 40 percent lower, though they began clawing back some of the losses in Tuesday trading.

Wisdom Education International led the declines, falling 39.8 percent on Monday, while Tianli Education International dropped 37.4 percent.

Prompting the declines was a release Friday from China’s Ministry of Justice regarding draft legislation for changing a law on private education that some saw as potentially instituting curbs on mergers and acquisitions activity in the space.

«Imprecise terms and language in the recently reviewed draft legislation for the amendment of the Promulgation of Private Education Law» were blamed for unnerving investors, Jefferies’ stocks analyst Johnny Kin Man Wong said in a Monday report.

Confusion largely centered on one section of the draft that suggested larger listed companies that control more than one school could be banned from engaging in mergers and acquisitions of non-profit private schools.

«We believe this is the article that has spooked the market as it is new and on the surface appears to block the route for M&A by listed companies,» Wong said.

He stressed, however, the article lacks an exact definition of group-based education and that was likely to be remedied.

‘Clarify the definition’

«We expect the next updated version of the draft to clarify the definition,» Wong said, stressing that education companies are expected to have their opinions heard.

Chinese education stocks in Hong Kong rebounded somewhat on Tuesday after the steep declines the day before.

Wisdom Education International gained 17 percent after Hong Kong trading began, while China New Higher Education Group rose 10 percent after skidding more than 30 percent on Monday.

Other companies also recovered some of the previous day’s losses. Tianli Education International gained a more modest 1.5 percent.

The Chinese education space has been closely followed by some investors, and Deloitte in a 2016 report painted a rosy picture of the sector’s future.

«China’s education industry is ushering into its ‘golden age’ with expansion in terms of both industry size and market activity,» the report said.

The education sector in China is expected to grow to nearly 3 trillion yuan ($435 billion) in 2020 from 1.6 trillion yuan in 2015, the report said.

A key driver in the sector is early childhood education, which is set to get a boost from China’s relaxation of policies that had limited family sizes.

Source of the notice: https://www.cnbc.com/2018/08/14/chinese-education-stocks-in-hong-kong-hit-by-regulatory-concerns.html

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We can’t retool U.S. schools based on Finland or China

Get Schooled recently ran an essay about Chinese education, in which “the goals are excellence, diligence and compliance.” This approach was valorized in the narrative provided by Amy Chua in “Battle Hymn of the Tiger Mother,” in which she argues on behalf of highly disciplined, harsh, authoritarian schooling and parenting.

The Get Schooled essay challenged readers to consider whether U.S. schools should become more like Chinese schools, and U.S. parents more like Chinese parents, in order for the U.S. to challenge the Chinese in their performance on international standardized tests.

The specter of falling behind has motivated school reform many times. When I was in first grade in 1957, the Soviets launched Sputnik, and we fell behind in the space race, prompting massive efforts to overhaul schools under the assumption our STEM education was inadequate.

By 1983 I was a high school English teacher in Illinois. That year A Nation at Risk was published by President Reagan’s National Commission on Excellence in Education, opening with “Our once unchallenged preeminence in commerce, industry, science, and technological innovation is being overtaken by competitors throughout the world …the educational foundations of our society are presently being eroded by a rising tide of mediocrity that threatens our very future as a Nation and a people…others are matching and surpassing our educational attainments.”

Around that time, it was common for Americans to lament our failures relative to Japan and its culture of worker compliance and loyalty, and academic excellence. I taught some Japanese exchange students back then, and they talked about how their teachers would hit them if they got too interested in someone of the opposite sex, which would take their attention from their studies. Further, suicide notes of Japanese teens often identified pressure to succeed in school as the cause of their decision to end their lives. But their tests scores were impressive.

It probably helped that Japan did not have a military and its enormous costs, and so could focus its resources and attention largely on commerce, education, infrastructure, and other domestic investments. That fact was mostly absent from appeals for the U.S. to be more like Japan, even though at the time we were still recovering from the costs of Vietnam and beginning the Reagan-era military buildup.

More recently, Finland has been set as the model for U.S. schools, again because of their comparative scores on international tests, and their unusually happy teachers.

It’s always tempting to see greener grass on the other side of the ocean, without getting close enough to notice how much manure lies at ground level or how different the weather might be to green up what’s visible. I think that looking longingly at other nations can be deceiving, and for a variety of reasons.

First, the nations we are encouraged to emulate tend to be culturally and racially homogeneous. Having a monoculture helps to focus on and perpetuate national goals and ways of being. I don’t say that to argue against cultural diversity of the sort we have in the United States. I think the multiplicity of perspectives across the social spectrum is healthy and invigorating, if often difficult to put into harmony. Diversity does work against common cause, however, including agreeing on the purpose and process of education.

Trying to be more like Finland, or China, or Japan, or the next shiny distraction overseas overlooks the critical issue that context matters in how social institutions function, and matters a great deal.

Let’s take Finland, a monocultural nation with a strong socialistic economic system. Schools are well funded, and children are protected by a range of social services that make them relatively healthy and school-ready. If you want U.S. schools to be like Finland’s, by all means vote to increase your taxes, because you can’t get their schools with our financing. If you want the U.S. to have schools like Finland’s, then you have to make the U.S. more like Finland.

If you want us to be more like China, then you have to reconceive a lot of American values. The Get Schooled essay includes the acknowledgement that the Chinese system produces “homogeneous and driven graduates” based on a “narrow and rigid approach [that] doesn’t yield a diverse, independent-thinking and inventive workforce…The Chinese system kills curiosity from a very early age…The Chinese [rely] on coercion and intimidation to establish order and routine.” They also have a culture in which test scores are indicators of both ability and character, and are highly prized as valid measures of success.

Within nations, there are local cultures that don’t often mix well. A few years ago, football star Adrian Peterson nearly lost his career when he disciplined his son by punishing him with a licking with a switch. That’s the way he’d been brought up in Texas, with the switch not spared. Culturally, Peterson was subjecting his son to a form of discipline that had been administered in his own family for generations. He thought he was being a good parent for doing what his parents had done to shape him up. But corporal punishment of children had become unacceptable to families working from other assumptions, and his career and public reputation were in tatters.

Peterson sounds as though he’d be a good fit in China, where according to the Get Schooled essay, “when 3-year-old Rainey begins an elite preschool refusing to eat eggs, his teachers force-feed him. When he balks at napping, teachers warn him the police will take him away. Other willful acts by children are met with threats their mothers will not return to pick them up at the end of the day.” But not in Minnesota, where his football career had taken him to, and where it nearly ended because of the severe disciplinary methods he used in his home.

I’m not here to attack or defend whipping kids with switches, being a Tiger Mom, or raising your taxes. (Well, I’d defend the last one, and I’m sure many of you would attack.) My point is simply to say that you can’t take something out of its national or cultural context, deposit it neatly into one that’s quite different, and expect it to work the same.

We may well have something to learn from how other nations educate their children. But ignoring why those practices work there will have consequences here. If you have Finland Envy, or China Envy, or Japan Envy, make sure that you envy the whole country and how it is structured and populated before you isolate a schooling practice and insist we should institute it here.

Source of the article: https://www.myajc.com/blog/get-schooled/opinion-can-retool-schools-based-finland-china/ZcqxE1BJcpUunJkMUdKXaK/

 

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Pakistani students to be offered vocational training, education in China

Asia/Paakistan/09.07.18/Source: nation.com.pk.

The CPEC Cultural Communication Centre (CCC) under its ‘Talent Corridor’ scheme will offer scholarships to 1,000 Pakistani students for a one-year vocational training starting from November this year in China.

“The students to be selected from across the country will be provided free tuition and dormitory during the training at different universities and institutes in China,” Echo Lee, Director General, CPEC CCC and CEO of St Xianglin Management and Consulting Company while talking to APP here on Sunday.

The CPEC CCC is located in China’s Suzhou Vocational University, which has the world-class facilities and able faculty and its functions include Sino-Pak students exchange, academic research and seminars, vocational education, organising Chinese culture experience camp and teachers exchange, she added.

Giving further details about scholarship scheme, she said it is a three level programme and the students will be taught outer space and high-speed train technology during the first level while in the middle level, they will be imparted education of hydro-power and solar energy engineering.

The students selected for the lowest level will get training for the driving of different machines and types of equipment including excavation machines and caterpillar etc.

Ms Echo Lee said this year, 1,000 students will be offered 20 majors from a high level to the lower level classes as compared to 100 scholarships in six majors last year.

While hoping for a positive response and cooperation from the Pakistani side, she said at present, the details are being discussed with the concerned officials in the Pakistan ministry of planning, development and reforms as well as the embassy of Pakistan in Beijing.

She informed the CPEC CCC is jointly working along with the Chinese education ministry which is affiliated with a number of vocational universities and institutes.

To a question, she claimed that vocational education in China is the highest level in the world even in some areas it is better than Germany and Japan.

The CEO said this cross-border education exchange programme is step one of the overall project and added in the next phases, equipment and teachers will be sent for vocational training of Pakistani students in Pakistan.

The Chinese vocational education centres, as well as educational parks, would be set up in Pakistan in future, she added.

She said her organization intends to donate some training equipment and looking forward to a positive response from Pakistani institutions which are interested to receive it.

About the cooperation in the past, she said her organization has signed a MoU with Khyber Pakhtoonkhaw (KP) and Gilgit-Baltistan (GB) governments to set up cultural communication centres under the CPEC framework.

These centres will serve as the main forum in the field of Sino-Pak education and cultural communication, she added.

 

Source of the notice: https://nation.com.pk/01-Jul-2018/pakistani-students-to-be-offered-vocational-training-education-in-china

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Pakistan: 1,000 Pakistani students to be trained in China under CPEC CCC

Asia/Pakistan/02.06.18/Source: gulfnews.com.

CPEC centre is jointly working with the Chinese education ministry which is affiliated with a number of vocational universities and institutes

The China-Pakistan Economic Corridor Cultural Communication Centre (CPEC CCC) under its ‘Talent Corridor’ scheme will offer scholarships to 1,000 Pakistani students for a one-year vocational training starting from November this year in China.

“The students to be selected from across the country will be provided free tuition and dormitory during the training at different universities and institutes in China,” Echo Lee, director-general of CPEC CCC and CEO of St Xianglin Management and Consulting Company while talking to APP here on Sunday.

CPEC CCC is located in China’s Suzhou Vocational University, which has world-class facilities and able faculty, she said.

Its functions include China-Pakistan student exchanges, academic research and seminars, vocational education, organising Chinese culture experience camp and teachers exchange, she added.

Giving further details about the scholarship scheme, Lee said it is a three level programme and the students will be taught outer space and high-speed train technology during the first level while in the middle level, they will be imparted education of hydro-power and solar energy engineering.

The students selected for the lowest level will get training for the driving of different machines and types of equipment including excavation machines and caterpillar etc.

Lee said this year, 1,000 students will be offered 20 majors from a high level to the lower level classes as compared to 100 scholarships in six majors last year.

While hoping for a positive response and cooperation from the Pakistani side, she said at present, the details are being discussed with the concerned officials in the Pakistan ministry of planning, development and reforms as well as the embassy of Pakistan in Beijing.

She informed the CPEC CCC is jointly working along with the Chinese education ministry which is affiliated with a number of vocational universities and institutes.

To a question, she claimed that vocational education in China is the highest level in the world even in some areas it is better than Germany and Japan.

The CEO said this cross-border education exchange programme is step one of the overall project and added in the next phases, equipment and teachers will be sent for vocational training of Pakistani students in Pakistan.

The Chinese vocational education centres, as well as educational parks, would be set up in Pakistan in future, she added.

She said her organisation intends to donate some training equipment and looking forward to a positive response from Pakistani institutions which are interested to receive it.

About the cooperation in the past, she said her organisation has signed a MoU with Khyber Pakhtunkhwa (KP) and Gilgit-Baltistan (GB) governments to set up cultural communication centres under the CPEC framework. These centres will serve as the main forum in the field of Sino-Pak education and cultural communication, she added.

Source of the notice: https://gulfnews.com/news/asia/pakistan/1-000-pakistani-students-to-be-trained-in-china-under-cpec-ccc-1.2245028

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