CIBT To Launch Information Technology Progams in China
CIBT Canadian Institute of Business & Technology Corp., a subsidiary of Capital Alliance Group Inc. and a prominent business school providing corporate training and academic degree programs in Beijing, China, announces its plans to offer information technology (IT) programs in China beginning September, 2002. In response to the rapidly growing demand in China for IT training solutions, CIBT will offer multiple certificate and diploma programs in technology design, software development and e-commerce programming tailored to the needs of the work force upgrading IT skills and individual students competing for jobs in China’s burgeoning IT sector.
According to senior Chinese government officials and industry analysts, strong domestic demand and an active telecommunications market will continue to boost China’s IT market this year. China’s ministry of information industry projects the output of the information sector will reach $180-billion (U.S.) in 2002, representing a year-on-year growth rate of 20 per cent. While the Chinese market requires about 400,000 software professionals annually, domestic colleges and universities currently produce only 50,000 IT graduates each year.
“Seven years ago CIBT entered the Chinese market with a goal of becoming the leading provider of advanced education in Beijing,” said CIBT president and chief executive officer Toby Chu. “Today, CIBT is one of the largest and most recognized Sino-foreign MBA business schools in Beijing. Based on accelerating IT investment in China and extremely favourable economic projections by analysts and recognized organizations such as the OECD and the IMF, we are convinced that there is tremendous demand for technology programs that will increase the size of the IT talent pool in China.”
Using courses from the U.S.-based ITT Technical Institutes, under the recently announced licensing agreement, CIBT is positioned to deliver high quality IT programs priced competitively for the Chinese market. Unlike programs at Chinese state-owned institutes, CIBT’s technology programs require courses developed with the direct input of American industry representatives, making the programs both current and market driven. CIBT also plans to integrate English language training in the IT diploma program, providing graduates with the English language proficiency required by most foreign companies operating in China. Upon acceptance by the Beijing municipal government, it is anticipated that CIBT’s IT diploma program will be the first Sino-foreign program of its kind officially accredited and recognized by the Beijing municipal education commission, providing CIBT with a competitive advantage over other private IT training companies.
“Given that China’s IT-based revenue may increase to $242-billion (U.S.) in the coming four years, according to China’s ministry of information industry, we will be well positioned to expand our programs to other areas of China, including Shanghai, Shandong, Henan and Shanxi, which together comprise 233 million people, as compared to the population of 13 million people in Beijing,” added Mr. Chu. “To remove geographic barriers, we are also assessing various e-learning platforms that allow for the expansion of both on-line and video conference delivery of CIBT programs outside of Beijing.”
About ITT Educational Services
ITT Educational Services, Inc. (ESI) is a leading provider of technology-oriented postsecondary degree programs. Currently, ESI operates 70 ITT Technical Institutes in 28 states, which predominantly provide career-focused degree programs of study in fields of technology to more than 31,000 students. Headquartered in Indianapolis, Ind., ESI has been actively involved in the higher education community in the United States since 1969. The ITT Technical Institutes have graduated approximately 150,000 students, including 80,000 in the last decade. ESI shares are traded on the New York Stock Exchange under the symbol ESI. For more information, visit the ESI Web site at www.ittesi.com or the ITT Technical Institute Web site at www.itt-tech.edu.
On Behalf of the Board of Directors of CIBT.
Toby Chu
President and C.E.O
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