With the popularity and deeper development of mobile internet, the online education industry has become increasingly mature, emerging numerous online education and training models. Online education has entered into a high speed development stage. In 2010, China’s online education market valued RMB 48.52 billion, while in 2015, the market amounted to RMB150 billion, and expected to reach RMB190 billion in year 2016.
In recent years, China has taken an active part in international cooperation and has established cooperation and communication relationship with many online education organizations globally, forming a multi-form, multi-level and wide-ranging communication pattern. Facing the world trend of economic globalization and fierce talent competition, to introduce and integrate global high quality online education resources and advance China’s eLearning development has become one of the most important subjects in China’s current online education industry.
TAFE is the largest vocational tertiary education institution in Australia and its Advanced Diploma is issued by the Australian government. TAFE plays a very important role in Australian Higher Education, it is a huge education system operated and financed by the federal government and the various state and territory governments.
Retech is one of the largest vocational online education service providers in China, owning the largest eLearning courseware production team in China and with rich courseware development and project management experience. Retech is expected to be listed in Australia stock exchange this year and will start multi-directional cooperation with TAFE Queensland. TAFE Queensland promises to provide Retech with its IP resources in the areas of workplace safety, food safety and medical services for Retech to upgrade them into interactive eLearning courses and promote them in mainland China market.
The solemn signing ceremony between Retech and TAFE Queensland was held at Retech Digital Industrial Park on 28th July, 2016. General Manager of Shanghai Retech Cheng Liu and Chief Academic Officer and Executive Director of TAFE Queensland Dr Christina Hong attended the signing ceremony. This cooperation not only opened the door for Retech to cooperation with Australia on online education and bring Retech the opportunity to enter into the global market, it is also of great significance on the depth implementation of China’s online education construction and accelerating the development and perfection of China’s online education system.
During the day, Ms. Christina took a tour around Retech Digital Industrial Park. Christina was very interested in the operation of Retech Copyright Trading Center and the 3D printing, VR and AR products in Digital Education Science Museum. In the afternoon, Christina had an in depth communication with Dr Sun Xiaocui from Retech Research Center on the topic of “Analysis of China Online Vocational Education Industry Situation and Development Trend”.
Ms. Christina gave her affirmative acknowledgement on Retech’s achievements and capabilities. She appreciated the enthusiastic and friendly communication and look forward to further cooperation between the two parties. General Manager Cheng Liu from Shanghai Retech expressed his warm welcome to Christina, he believes that the cooperation between Retech and TAFE Queensland will definitely bring huge win-win effects to both parties and make great contribution to China’s and even the world’s online education development.