Benzinga | Aug 11, 2021 08:32AM EDT

Ambow Education Reports Strategic Cooperation Deal With MIITEC, No Terms Disclosed

Ambow Education Holding Ltd. ("Ambow" or "the Company") (NYSE:AMBO), a leading cross-border career education and technology service provider, today announced that it has inked a strategic cooperation agreement (the "Agreement") with the Talent Exchange Center at the Ministry of Industry and Information Technology ("MIITEC") to strengthen international communication and exchanges in various information technology-related disciplines and other industrial fields such as domestic integrated circuit, intelligent manufacturing and industrial Internet.

Pursuant to the Agreement, as the project operator and support unit, Ambow will help MIITEC provide international industrial talent services to various organizations, enterprises, universities and professionals in China. Both parties will leverage their resources to jointly promote research on international talent development in key industrial sectors and the information technology space, and build an international alliance of mutual recognition and credit transfers that will facilitate industry resource exchange and sharing to create state-of-the-art learning and training systems for international talents, while also aiding the implementation of related projects and activities.

Dr. Jin Huang, President and Chief Executive Officer of Ambow, commented, "Since inception, Ambow has made every effort to be guided by specialized needs of the industry and various enterprises. We have a long-standing relationship with Ministry of Industry and Information Technology ("MIIT"), researching, compiling and releasing the "White Paper on China's Integrated Circuit Industry Talents" and other related industry reports for four consecutive years, which has been widely recognized. With this latest partnership with MIITEC, Ambow will continue to utilize its resource advantages as an international education group, and jointly work with them to upgrade and innovate talent training models, empowering China's integrated circuit, intelligent manufacturing and other related industries."