Based on statistics, the number of applicants for MBAs in China grew at a rate of 20% every year. Due to this growing demand for business degrees, many well-known Chinese business schools such as China Europe International Business School (CEIBS), Qinghua University, Peking university– Guanghua school of management, Fudan university-school of management, and Shanghai Jiao Tong University – Antai College of Economics and management all increased their MBA student enrollment to over 1000 every year, bringing in nearly 100,000,000 RMB in tuition revenue for the universities. As a result, MBA degrees are now called a “cash cow” grasping millions of RMB all over China. The reason why MBA degrees have gotten so popular may be because students expect a positive return on paying the tuition and believe that an MBA could expand their professional networks. In China, those who are too busy to enroll in a MBA program, can opt to take “mini-mba” courses to make it possible to study part time for 6 months.
English Training Market
Chinese students begin studying English from primary school or even kindergarten, but that does not mean they all master English as a second language. As a result, English training programs are very popular in China no matter what your goal is. China even have English programs specifically designed to help students pass exams where English is necessary such as the IELTS, TOEFL, GMAT, GRE or Business english. Xin Dongfang(新东方) is a large English training company in China’s English training market. The company can owe its success to its scale, verification and vertical departments.
It is estimated that the English training market in China is worth about 300 billion RMB. Xin Dongfang occupies nearly 10% of the market share, compared with its major competitors such as Global IELTS, Langge IELTS, aceleader, Xin hangdao, Wall Street English, EF education, Web International English, etc. Most of them focus on inclusive English training and strengthening skills for exams, except Web International English, which is helps its customers learn to speak the language. English programs such as Wall Street English and EF education can be very lucrative as they ask for nearly 30,000 RMB per student on average.
Foreign Education Organization
After seeing the huge opportunity in the Chinese education market, foreign training organizations, such as EF education, Web International English, and Wall Street English started to step into China. Foreign training organizations tend to pay more attention on comprehensive improvement rather than simply concentrating on skills for exams like most domestic companies do. For example, EF education divides its students into 15 classes and employs different teachers in different classes online. For higher classes they use foreign teachers to create native English environment for students to let them immersed in a studying atmosphere. Besides, Kaplan, a GMAT training organization in the US recently gained a large market share by partnering with Chinese universities to more easily gain new students.