Xinmaier (Beijing) Technology Co., Ltd. (新迈尔科技), dedicating to application-focused education, completes a series A round of financing of tens of millions yuan amid China's vocational education reform.
Xinmaier (Beijing) Technology Co., Ltd. (新迈尔科技), dedicating to application-focused education, completes a series A round of financing of tens of millions yuan amid China's vocational education reform.
Located in ZPark, Zhongguancun Science Park, the company focuses on talent development for IT industry. It provided vocational education, enterprise training and emphasizes industry practices and internships. So far, the Zhongguancun-based company has cooperated with more than 140 institutions spanning 24 provinces.
There will be growing demand in IT area as technology develops and the whole vocational education sector is buoyant.
China Daily reported that China had about 11,700 vocational schools nationwide, with around 9.3 million fresh students enrolled and 26.9 million students at school in 2018, among which 10,300 were secondary vocational schools and 1,418 were advanced educational schools, citing the Ministry of Education.
Earlier this year, China's Premier Li Keqiang mentioned the need to speed up the development of modern vocational education. In May, the State Council issued the "Occupational Skills Enhancement Action Plan (2019-2021)" to support social training institutions.
By 2020, China's vocational education market will reach CNY 1.2 trillion, accounting for 37% of the whole education market. More than 70% of the new employees will come from vocational institutions for industries such as modern manufacturing, strategic emerging industries and modern service industries.
Moreover, the employment rate of Chinese vocational graduates reached 92% and Chinese vocational colleges also attracted 17,000 foreign students last year, most of whom come from countries along the Belt and Road.
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