Business Finance report Essay
The report shows the study of ESL market in China, which is huge due to fast growing economy of China and awareness in people for learning English language which required in their day today life. The report shows the booming of English language training centres in China, which is one of highly profitable industry today. The report includes China’s market, demand, market size and relative cost factor. China’s present situation with appropriate foreign direct investment by a foreign company including location of the centres, staff recruitment and intellectual property rights.
Some of the local government policies for foreign investment Enterprise are discussed in the report which is followed by the recommendation and conclusion. ESL market in China In global economy English proficiency is critical for success. Business has changed, and in today’s business environment globalization is the most important trend. Consumer’s drives the new economy and they are everywhere, while the physical location of company’s headquarters and employees is less relevant than ever in today’s market. The fundamental strategic imperatives for success in new economy are seamless communication and shared understanding.
English language is overwhelmingly been adopted as a universal language of business. Demand China is the top emerging market for foreign
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English language training is now becoming profitable industry in China as Chinese people is now aware of importance of international language. In Beijing (2001), training industry shows a profit of US$ 84. 68 million by providing English language training to nearly 200,000 people. Shanghai is also a booming spot for English training. US$ 4. 84 million is been invested by Wall Street institute to set up their branches which attracted 1,000 trainees, mostly from foreign companies. New Oriental school in Beijing is also expanding their business quickly.
It expanded its business to Shanghai and within one year, 10,000 people have been through the school. The market size for English language training centres in china is huge, enormous and really big. China has a population of 1. 3 billion, having a huge market for almost anything. December 11 (2001) China’s agreement to World Trade Organization (WTO) and China being awarded 2008 Summer Olympic have given chief momentum to English language training. These developed needs for English teaching to students in school and people who are engaged with trade and commerce with English speaking individuals and association.
The entire 1. 3 billion people in China can be considered as a targeted market. English language training market in China is estimated to be valued over US$ 2 billion and is expected to reach US$ 3. 7 billion by 2010 according to the 2005-2006 China education and training industry research report. Due to multinational corporations in China, English communication skills are important for profession advancement for Chinese workers. Hosting of world class events like 2008 Olympics in Beijing and 2010 world Expo in Shanghai and also the rapid growth in China’s foreign direct investment increases the demand for English training.