BEIJING, June 25 /PRNewswire-Asia-FirstCall/ -- China Distance Education Holdings Limited (NYSE: DL)("CDEL" or the "Company"), a leading provider of online education in China focusing on professional education, today announced that its subsidiary, Beijing Zhengbao Yucai Education Technology Co., Ltd. ("Zhengbao Yucai") has signed multi-year exclusive contracts with the designated parties of the Chinese government authorities of Inner Mongolia Autonomous Region (including Tongliao City), Laiwu City, Taizhou City and Zhuhai City to offer business start-up training courses in the aforementioned provinces and cities. Zhengbao Yucai, established by CDEL in 2009, provides practical training such as virtual business practices tailored for college students, job seekers and individuals who are interested in learning how to establish new businesses.
Mr. Zhengdong Zhu, Chairman and CEO of CDEL commented, "The Chinese government has been vigorously promoting entrepreneurship as a means to increase employment nationwide since 2008. The Ministry of Human Resources and Social Security launched an initiative on May 5, 2010 to implement such a plan. The initiative, titled "Guide the College Graduates to Entrepreneurship," aims at guiding at least 450,000 college students to start-up their own business by 2012. We are excited to assist the authorities to implement this important and meaningful initiative."
Under the terms of the contracts, Zhengbao Yucai will produce training materials in accordance to the requirements of the government authorities in various provinces and cities. Zhengbao Yucai will receive monetary subsidies from the relevant government authorities upon successfully achieving certain conditions based on passing rates of course participants, the business start-up rate and/or employment rate of course participants.
Mr. Zhengdong Zhu added, "These recently signed contracts builds further upon Zhengbao Yucai's established operation in Tianjin, Hangzhou and ten other provinces and cities within China. Given the enormous market opportunity in this field, I am confident in the long-term potential of this segment, and we will continue to expand our high quality program to a wider geographic reach."
About China Distance Education Holdings Limited
China Distance Education Holdings Limited is a leading provider of online education in China focusing on professional education. The courses offered by the Company through its websites are designed to help professionals and other course participants obtain and maintain the skills, licenses and certifications necessary to pursue careers in China in the areas of accounting, law, healthcare, construction engineering, information technology and other industries. The Company also offers online test preparation courses to self-taught learners pursuing higher education diplomas or degrees and to secondary school and college students preparing for various academic and entrance exams. In addition, the Company offers online foreign language courses, offline GaoKao retake courses and offline business start-up training courses. For further information please visit http://ir.cdeledu.com .
