Hartcourt Formed e-Education Partnership With Northern Jiaotong University And California State University, Fullerton
LOS ANGELES, May 29 /PRNewswire/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: HCT), www.hartcourt.com, today announced that it has signed a profit-sharing partnership agreement in cooperation with Northern Jiaotong University (www.njtu.edu.cn) and California State University Fullerton (www.fullerton.edu) to jointly develop education projects and introduce American career training courses and post-graduate business programs in China.
The project will offer prestigious American education programs in China, utilizing one of the first online education licenses awarded by China`s Ministry of Education. The project is offering both certificate and degree programs with courses designed for relevance in today`s business world. Coursework will initially be offered in the classroom and later expanded online.
The education initiative is projected to recruit over 1,200 students for the first year and would be profitable after 12 months. Projected revenue is about $11 Million in 2004. Six business courses taught by U.S. professors are planned to start in September 2001 in Beijing. The initial courses are designed to help students increase their competitiveness in the fast changing environment of the New Economy.
Professor Songdong Xu, the Dean of Northern Jiaotong University`s Business School, and Dr. Luu Trankiem, the Director of California State University`s International Programs, shared the opinion that, "Thanks to Hartcourt`s investment and commitment, Northern Jiaotong University and California State University Fullerton will be on a fast track to bring the best educational programs available in America to China. We believe this joint effort will be well-received by the Chinese students and it will contribute greatly to the development of other international education projects between the U.S. and China."
Dr. Charlie Q. Yang, CEO of Hartcourt, commented, "Education has always been the first priority in Chinese society, the Chinese family and Chinese culture. Every year, hundreds of thousand of Chinese students attend American and European universities at great expense to their families. By bringing the best American programs to China, we`re attempting to help thousands of these students save over 70 percent of those costs. When our E-Learning project is officially launched, the impact on China`s educational system should be substantial. Our subsidiaries, StreamingAsia and Elephant Talk, will provide the needed Web casting technology and broadband networks." About Hartcourt
The Hartcourt Companies is a holding and development company that is building a network of Internet and telecommunication service companies in The People`s Republic of China (China), including Hong Kong, in partnership with Chinese entrepreneurs as well as Chinese government-owned entities. Hartcourt`s business goal over the next three years is to benefit from a series of IPOs or spin-offs of its core business holdings and investments in Greater China. Forward-looking statements
Certain statements in this news release may constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks, uncertainties and other factors, which may cause the actual results, performance or achievement expressed or implied by such forward-looking statements to differ materially from the forward-looking statements.
LOS ANGELES, May 29 /PRNewswire/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT; Frankfurt: HCT), www.hartcourt.com, today announced that it has signed a profit-sharing partnership agreement in cooperation with Northern Jiaotong University (www.njtu.edu.cn) and California State University Fullerton (www.fullerton.edu) to jointly develop education projects and introduce American career training courses and post-graduate business programs in China.
The project will offer prestigious American education programs in China, utilizing one of the first online education licenses awarded by China`s Ministry of Education. The project is offering both certificate and degree programs with courses designed for relevance in today`s business world. Coursework will initially be offered in the classroom and later expanded online.
The education initiative is projected to recruit over 1,200 students for the first year and would be profitable after 12 months. Projected revenue is about $11 Million in 2004. Six business courses taught by U.S. professors are planned to start in September 2001 in Beijing. The initial courses are designed to help students increase their competitiveness in the fast changing environment of the New Economy.
Professor Songdong Xu, the Dean of Northern Jiaotong University`s Business School, and Dr. Luu Trankiem, the Director of California State University`s International Programs, shared the opinion that, "Thanks to Hartcourt`s investment and commitment, Northern Jiaotong University and California State University Fullerton will be on a fast track to bring the best educational programs available in America to China. We believe this joint effort will be well-received by the Chinese students and it will contribute greatly to the development of other international education projects between the U.S. and China."
Dr. Charlie Q. Yang, CEO of Hartcourt, commented, "Education has always been the first priority in Chinese society, the Chinese family and Chinese culture. Every year, hundreds of thousand of Chinese students attend American and European universities at great expense to their families. By bringing the best American programs to China, we`re attempting to help thousands of these students save over 70 percent of those costs. When our E-Learning project is officially launched, the impact on China`s educational system should be substantial. Our subsidiaries, StreamingAsia and Elephant Talk, will provide the needed Web casting technology and broadband networks." About Hartcourt
The Hartcourt Companies is a holding and development company that is building a network of Internet and telecommunication service companies in The People`s Republic of China (China), including Hong Kong, in partnership with Chinese entrepreneurs as well as Chinese government-owned entities. Hartcourt`s business goal over the next three years is to benefit from a series of IPOs or spin-offs of its core business holdings and investments in Greater China. Forward-looking statements
Certain statements in this news release may constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks, uncertainties and other factors, which may cause the actual results, performance or achievement expressed or implied by such forward-looking statements to differ materially from the forward-looking statements.
