The influx of hot money into the training institutions performance pressure fear influence teaching quality

Domestic and foreign hot money swarmed, tickets and children which more important newspaper reporter Li Jianping "is to continue to hold stocks, or ready to sell stocks?"　　The 4 Chinese education and training institutions, which are listed in the United States in 2010, such as the Amber Education, global IELTS, learning and education, are now facing the "anniversary itch" of international investment capital entering or retiring. "The nature of capital is profit-driven," said a vice president of the education and training body to the China Youth Daily. International capital is pushing the Chinese education and training institutions to "get on the horse and deliver a ride", forcing the performance every day. "Another vice president said," at the turn of the new and old fiscal year, foreign investors see China's listed education and training institutions last year ' red ' financial statements, the most concerned about the next fiscal year can do better. The education and training market has both economic benefit and social benefit attribute. Listed education and training institutions should find a balance in the game between investors and children, "very painful".　　They invariably describe their state. By the name of the listing of the United States to play a legal "edge" in 2006, New Oriental in the United States New York Stock Exchange successfully launched the curtain on overseas listing of Chinese education and training institutions, and in 2010 a small "climax." That is, an education on the New York Stock Exchange on August 5 last year, the global IELTS October 8 landing on the Nasdaq, Learning and thinking education, education, respectively, October 20, November 2 on the New York Stock Exchange listed transactions.　　At this point, China's education industry in the United States listed companies up to 11. Global IELTS Beijing about executive vice President Wang Yaoning said, the reason why companies choose to be listed in the United States: the first is the speed of the U.S. market, do not need to spend too much energy and time on the policy, the second is the U.S. stock market education plate gradually, education and training institutions listed whether it is investor awareness, or stock sales, Would not be too much of a problem; third, US-listed P/E ratios have a more near-reasonable market valuation for companies.　　Although Hong Kong, Japan, Tokyo and London are both listed alternatives, they have opted for the Nasdaq in the financial and technical aspects. "China's education and training institutions in the United States ' together ' listing and the new Oriental benchmark role inseparable."　　Bao, vice president of education, thinks that many of the "later" are developing along the trajectory and pattern of the creation of Mr Yu and the new Oriental. Compared with the education and training institutions that are keen on listing overseas, the Chinese public education group is somewhat different. Li Yong-wei, president of the group, said: "We plan to be listed in the domestic gem or SME board in 2012, and are currently communicating with the Ministry of Education and the CSRC." "Li Yong-wei's reason for this is that domestic listing is conducive to the recognition of students, parents and shareholders, and further enhance the visibility of education and training institutions and brand influence; Chinese education and training institutions listed overseas are often the investment institutions to buy a lot, investors buy less, not conducive to the long-term development of the company; because of the high policy threshold, domestic listings are much higher than those in the U.S., where the education and training institutions are in China, and the ultimate goal is to return to education, rather than retreat in a circle of money. The motives of China's education and training institutions to roamed to the US are not as understated as the parties '.　　Beijing Public Office Education Association secretary General Machore said, overseas listing, can avoid and break through some restrictions on education and training market and the development of private education. Eighth of the Education Act of the People's Republic of China stipulates that "educational activities must conform to the public interests of the state and society". 25th also stipulates that "the State encourages enterprise organizations, social groups, other social organizations and individual citizens to organize schools and other educational institutions according to law." No organization or individual may organize schools and other educational establishments for the purpose of profit.　　In addition, the "Sino-Foreign Cooperative School Regulations" also pointed out that the Sino-Foreign Cooperative School is a public welfare cause, is a part of China's education, can cooperate to organize various educational institutions at all levels. Machore said that the national law permits Chinese and foreign cooperation to hold all kinds of educational institutions mainly refers to with foreign high-quality education resources and institutions, rather than with strong investment capital cooperation. After the Chinese education and training institutions listed overseas are combined with the "foreign capital", the various training schools of the original holding are transformed into the commercial relations of the Agreement control. All kinds of tuition fees charged by the public service without paying taxes into the legal tax.　　The transformation of these two modes has provided a golden opportunity for China's education and training institutions to be listed overseas. Fried coal, fried house and foreign hot money went straight to education and training marketing education in 2001 also in the University Resources Hotel as a tutor intermediary services, 2010, but listed in the United States. Li Yong-wei said that the successful listing of educational and training institutions has put several "catfish" into the moribund Chinese private education field, providing some possibility for the future training and birth of famous Chinese educational enterprises. In the case of Harvard University in the United States, at the beginning of the 1886, only 4 students were recruited and today the world's top universities.　　This was the school's founder's unexpected. According to the research report of Deloitte Consulting (Shanghai) Co., Ltd., the 2009 China Education and training market amounted to 680 billion yuan. 2010 This market is close to trillion yuan scale. One of the primary and secondary school tutoring market amounted to 100 billion yuan.　　Li Yong-wei said that China's education and training of the leading enterprises in the new Oriental as an example, its more than 4 billion U.S. dollar market capitalisation of about more than 20 billion yuan, but also accounted for the entire market around 2%. Since the overseas listing of education and training institutions, China's education and training market has undergone a series of subtle changes, particularly notable when the number of investment capital flocked in. Li Yong-wei said that China's education and training market, "hot money", not only foreign VC (venture capital), but also domestic private equity funds, as well as the private sector in Zhejiang Province from the coal, housing market retreat of the capital, "Investors want to gain, training institutions to be introduced."　　The money in the market is very hot and the liquidity is very strong. “The return on investment is very high.　　"The head of an investment agency said directly that everyone was not investing in coal mines and turned to education and training institutions." "There is no education without love." Li Yong-wei said that investment institutions do not rely on money to force people to sign a "bet" agreement. That is to invest 100 million yuan, 15% of the shares, to ensure growth rate of 50% next year.　　If this growth target is not achieved next year, the investment agency will have to take up 20% of the shares, increase the decision-making power and so on. There is no doubt that the market is now an era of listing, the capital markets to some extent more attention to short-term economic benefits. Bao says education and training institutions need to transition from capital to capital. However, another education and training director asked: "The capital sometimes can not handle how to do?" "It will be the sinner who mentions the Japanese NOVA," said the head of a listed education and training body, "because the stock is delaying the child's development." Nova was the largest language school in Japan. Since its inception in 1981, the use of large sums of advertising and rapid expansion of the strategy to occupy the country's half of the foreign language training market, 2005 students reached 480,000 people. On October 26, 2007, Nova filed for bankruptcy protection at the Osaka District Court, and all the Japanese campuses closed the same day.　　The main reason is that after attracting venture capital and listing, excessive expansion leads to management confusion and eventual bankruptcy. Overseas listing brings the brand, capital, management and talent of Chinese education and training institutions to the test of the transformation of the Chinese education and training institutions to the businessmen. For example, before the listing, an education and training institutions in Shandong Province Jinan to create a teaching point, only need to rent 1500 square meters of venues, a little decoration can be opened enrollment.　　Now after the listing, the public to the education and training institutions of the hardware facilities and service level requirements higher, only hardware input one will need 4 million or 5 million yuan, is the IPO before the cost of teaching points several times, which directly led to a decline in profits. This is a very uncomfortable sight for international investors. They forced China's education and training institutions to adopt some purely commercial means to expand enrollment and improve profitability.　　For example, the construction of 2000 square meters of VIP education and Training center, opening a dollar newspaper classes, leading to the parents overnight queue, training courses Low-cost Group purchase, staff expansion 20%, some education and training institutions within a short period of time to add more than five thousand or six thousand employees, these forces are immediately enriched to the domestic second line, three- Bao Analysis: "This is the public company information officer provoked misfortune." "Because the listed education and training institutions in order to give investors confidence and stabilize the share price, each quarter of the year, each month's business is expected to be disclosed by the information officer in advance."　　If these results are not achieved, stocks will plummet. Bao Frankly, the share price does have an impact on the behavior of education and training institutions.　　But pay attention to the share price, because the stock delays the child's growth and development words is the sinner, the student, the parents will hate you in the heart forever. The new Oriental President, Mr Yu said, "If you follow the current path, neverThe educator.　　"His central work in the 2011 is to adjust the mission and value of the new Oriental, as far as possible to the new Oriental in the correct concept, values, mission and social responsibility under the guidance of the operation." BEIJING, January 23 (Xinhua)