Acquisitions in the VET sector in China’s Far North
Two acquisitions in the VET area in China’s far north province Heilongjiang: Lide Education Group, owner of a private university in Heilongjiang (Industry and Commerce Institute) with 9,500 students, announced its acquisition of Qiqihaer Science and Technology VET Institute (QSTI) from its current parent company, which is a construction group. QSTI trains students in railway construction projects, commerce and arts. It has 1,700 students and has been operating profitably.Kepei Education, the owner of Guangdong Polytech College, acquired Harbin Petroleum Institute for RMB1.45 billion (USD223m). Harbin Petroleum Institute, an original VET provider, recently received approval to issue bachelor degrees.