BEIJING, Aug. 17 (Xinhua) -- China's online education sector is running on a fast track of development as offline education has accelerated its transfer to online education under the impact of the COVID-19 pandemic.
The market size of the country's online education sector is projected to exceed 540 billion yuan in 2022, according to the report on China's K12 online education market and consumer behavior released by the Key Laboratory of Big Data Mining and Knowledge Management of Chinese Academy of Sciences.
K12 online education will see its market size top more than 150 billion yuan in 2022, said the report.
China has seen increasing number of online education companies. In the first seven months, about 37,000 online education-related enterprises were established in the country, according to data from database query platform Tianyancha.com.
During the January-July period, Beijing has more than 6,500 newly-established online education companies, the highest number among Chinese municipalities, provinces and regions, followed by Guangdong Province and Shandong Province.
With policies to spur consumption, the online education industry in China is expected to continue expanding in the second half of this year, according to China Galaxy Securities. (Edited by Su Dan with Xinhua Silk Road, silviasu07@163.com)
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