Education First has significantly increased its investment in China this year, doubling the amount compared to last year, according to the executive vice president of the Swedish education company's Chinese division. EF invested CNY 100 million (USD 13.8 million) in its Asia-Pacific headquarters in Shanghai last year, and this year, they have added CNY 200 million, half of which has already been allocated, Liu Jinran shared in an interview with Yicai.
Amid the Covid-19 pandemic and China's new policies to reduce students' academic burden, EF has been making several adjustments in the Chinese market over recent years. This includes shifting its focus to adult language training, which is primarily conducted online, Liu noted. The company has moved away from offline training. "Many Chinese firms plan to expand overseas, so their management and employees are seeking more language training to improve their international communication skills", Liu said.
To accelerate the development of its online business, EF plans to develop a series of smart teaching tools, including artificial intelligence-assisted error checking and correction for writing, Liu explained. "However, learning still requires experienced teachers, and AI will not completely replace humans".
EF entered the Chinese market in 1997 by establishing its first office in Shanghai, which has since become the company's Asia-Pacific headquarters. Liu highlighted that Shanghai is not only where EF's business in China began but also a crucial market for its development.
"The business environment in Shanghai is excellent, with strong support for the development of foreign enterprises both at the policy and operational level", Liu said. "The city has a large concentration of talents and is home to many international companies, providing significant business opportunities for language training institutions like EF".
