Optics Valley issues measures to support online education
The East Lake High-tech Development Zone (also known as Optics Valley of China) in Wuhan -- the capital city of Central China's Hubei province. [Photo/WeChat account of Optics Valley of China]
The East Lake High-tech Development Zone -- located in Wuhan, capital of Central China's Hubei province -- has just published major measures to promote the high-quality development of an online education services industry.
The zone, also known as Optics Valley of China, published the measures on June 28, according to local media reports.
Under the measures, Optics Valley aims to help resident companies operating in the sector to achieve total annual income of 100 billion yuan ($14.13 billion) by 2025.
They will also assist the zone to become a leading and internationally known online education services industry cluster in China.
Among the measures, Optics Valley plans to set up a development guidance fund for the sector.
A total of 5 billion yuan will be used to support the development of these companies in the zone.
It is designed to help cultivate more than 10 leading online education services companies -- stock exchange-listed or unicorn companies -- and more than 50 key groups in the field, with annual revenue of more than 100 million yuan each.
At the same time, the zone plans to allocate them land of no less than 1,000 mu (66.67 hectares)
It will construct an Optics Valley online education services industrial park, hold an online education service industry summit with international influence every year and give the event's organizers a subsidy of up to 10 million yuan.
In addition, among a raft of other measures Optics Valley plans to build on-site demonstration displays. It will move to beef up recruiting technicians and other top talents to come and work in the zone in the field, carrying out classified filing services and establishing an online education services industry promotions association.
To date, the zone has attracted more than 110 online education services enterprises with more than 20,000 employees.
It is estimated that the number of employees in its online education services industry will reach nearly 80,000 in the next three years and the overall strength of the industry will be second only to Beijing in China.