Zhang Bangxin, One of the youngest self made man in China

02 March 2020

Zhang Bangxin was born on October 1, 1980 in Jiangsu province, China.

Raised in a farming family, he studied biology at Sichuan University before going to Beijing University in 2002. He finished his studies by an EMBA with China Europe International Business School.

In order to make a living, he accumulated seven part-time jobs including a tutor job for elementary school students.

Under his supervision, the average school student got three perfect scores in three different mathematics tests. Hence, the number of his students increases to 20.  When he received his first school fees (RMB10 000 or $1430, a huge amont for his means at the time), he thought about a way to make his classes more appealing. In order to convince parents of the interest of his classes, he offered them to attend class.  He even submitted the possibility of : « requesting a refund at any time if they are not satisfied ». Encouraged by his succes as a tutor, Zhang and one of his classmate got into entrepreneurship and launched Xueersi Education, a tutoring service provider for elementary and high school students. He then made a decision that would change his life : in the middle of a doctorate, he decided to stop his studies in order to fully concentrate in the development of Xueersi Education. Unlike his peer New Oriental, Tal Education showed a less spectacular but more interesting growth.

The level of service and quality of his teaching have gradually become the trademark of the company.

Zhang set up a teaching rating system to incorporate a stable improvement. Faced with challenges of limited resources and lack of connections within the industry, Zhang turned these difficulties into an advantage by opening the path for recruitment of young graduates. He recruted 211 teachers among the 985 Chinese universities. The entrepreneur has the strong conviction that values are not less important than abilities. 

« You bring together the people who match your values perfectly and you eliminate the people who do not». 

Zhang sought relentless to make his company grow and his efforts paid off in 2010. In October 2010, Xueersi Education was officially listed in the New York Stock Exchange, making it the first Chinese educational institution for primary and secondary students to be listed in the United States. Zhang was no more than 30 years old. TAL transition looks toward the future - between reality understanding and thoughts concerning the future. In August 2013, Zhang Bangxin changed the name of his company to TAL Education (Tomorrow Advancing Life) in reference to his commitment to introduce new technologies and Internet into the education system. The goal is to make the experience even more rewarding. 

In August 2018, the chairman established a strategic partnership with the Municipal Education Commission of Shanghai to build an information technology-based 2.0 education.

For Zhang,  education of the future has to combine traditional education, artificial intelligence, online and offline support, human ressources and technology. All of these systems will be interdependant and complementary. TAL Education is a company focused on innovation. Zhang follows four leitmotivs about education : « do not fear that you cannot do it, only fear that you cannot see it » ; « do not fear not being able to see it, only fear not being able to understand it » ; « embrace failure to succeed » and « invest for a future ». TAL Education was ranked in the top 100 of the most useful Chinese brands for five years in a row. The company has been involved since 2012 with the philanthropic educational program «Oneclassroom». In 2013, Zhang goes further and created the TAL Fondation. In 2017, the management team donated RMB1bn (about $143M) in order to support schools in rural areas. 

« Education accelerates social development».

KEY FIGURES

  • Headquarter in Beijing, China
  • 34 733 employees 
  • Turnover 2019 $2.56bn
  • 2.3 millions students among 42 cities in China 630 learning centers

EDUCATION IN CHINA.

  • School is compulsory from 6 years old until 15 years old 
  • The education of children is the pa-rents’ first priority 
  • A market of $80bn in 2019
  • 55M potential students in rural areas for online courses 

 

At only 40 years old, the founder and chairman of TAL Education owns a fortune of $10.5bn. TAL Education, in former times Xueersi Education, is listed in the New York Stock Exchange since 2010. (source : Forbes 2020).

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