China’s ‘yuppies’ think US$462,300 needed to raise, educate a child, study shows
China’s emerging affluent are pinched by financial stress as they anticipate setting aside 3.1 million yuan (US$462,300) for their children, including funding their education, marriage and even a first home, according to a survey. South China Morning Post
Kim’s note: This level of financial commitment is part of what is fueling venture investment in the education space in China. New schools and universities, and new after-school and language programs are all vying for a piece of this educational spend. In EdTech, the segment related to China’s K-12 online education is projected to reach $51b in 2019. It is difficult to reconcile the frenzy of investment with the realities of delivering education in classrooms across the country.
