(Yicai Global) July 11 -- Nearly half of all schooled Chinese kids from six years to 15 years of age participate in extracurricular training, while the value that the country's burgeoning tutoring market equals to over 14 times the revenue of Harvard University.
Some 48 percent of primary and secondary school students take part in off-campus training, a survey co-hosted by Peking University on the education industry in 2017 showed, adding that the value of the market is CNY490 billion (USD74 billion). Massachusetts-based Harvard University made USD5 billion in revenue last fiscal year.
The survey called for more regulation in the tutoring sector and measures to bring equal, high-quality education to students from less fortunate families. Extracurricular training is not the root of the problem, but it deepens the inequality caused by an imbalance of resources. Wealthy families have the advantages of paying for the best tutoring, as well as being able to choose their kids' schools by buying a house -- which includes social security benefits -- in a specific area.
The root of this contradiction lies in the uneven development among China's elementary and higher education institutions. This is why policymakers should ramp up resources and share them more evenly between different schools, the survey concluded.
Editor: Emmi Laine