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Insurer: Parents' education plans fall short
By Song Hongmei (chinadaily.com.cn)
Updated: 2008-01-23 14:45 AXA-Minmetals Assurance Co Ltd, a 51-49 joint venture between Europe's No 2 insurer AXA and China Minmetals Corp, just released its report on education plans, saying most parents have high expectations for their children's futures, but are not prepared financially to support them.
The research report concluded 4-2-1 families—those with four grandparents, a couple comprised of two only children, and the couple's only child—the result of China's one-child policy, are willing to invest heavily in their child's education hoping to improve their chances of success. However, hopes have been dampened by rising tuition fees. The report cited statistics showing education costs in China surged 160.5 percent between 1998 and 2006, up 30 percent averagely every year. ...... The full text is available in the January Issue of China Insurance. (For more biz stories, please visit Industries)
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