Viral Learning 2021 : Education is in China's DNA (Part 3 of 3)

Despite staging an impressive rebound from 2020, recovery from the pandemic in China isn’t on solid ground yet. China’s economy performed better than expected in the third quarter in 2021 as retail sales climbed. However, rising Covid outbreaks and a series of policy changes that effect education and technology mean a nuanced understanding of the market is needed. 

In this Viral Learning 2021 series, Alicia Liu, founder of Singing Grass, have identified three key trends on consumer content consumption in Chinese society today that have continued to grow: Wellbeing, autobiographies, and education. 

This article was originally published on BookBrunch

Viral Learning 2021 : Education is in China's DNA

One in every three books sold in China is a children's title. 

At this year’s World Book Day celebrations on 23rd April, Wang Fang, a TV anchor turned book recommendation influencer who specialises in children and parenting products, hosted a live broadcast via the short-video app Douyin, the Chinese version of TikTok. Total sales on the day exceeded £711,000 (RMB 6.42million), with the English edition of Harry Potter (an 8 book set) ranked in the top three bestsellers. 

 Although demand for illustrated picture books for early readers is still high, there is a growing trend for content with strong educational values aimed at older children. Personal finance education, a subject growing in popularity due to the pandemic, has extended from adults to children. This is reflected in China’s latest top children's bestseller A Dog Named Money (Ein Hund namens Money), written by German financial coach Bodo Schafer. 

This story about a puppy who teaches children about finance, was first published in Chinese in 2001, and re-published by CITIC Press on its 20th anniversary during Chinese New Year in January 2021. Chinese children traditionally receive a gift of a red envelope filled with money which symbolises good wishes and luck for the year ahead. A Dog Named Money, which is aimed at promoting financial know-how for children aged between 8 and 18 years old, immediately topped the bestseller charts, benefiting from strong online influencer marketing and sales promotions. 

 Marketed as a complete introduction to understanding personal finance for both children and parents, CITIC’s content package includes not only a storybook, but also an exercise workbook and access to a free trial for an online financial management class that can be attended by both children and their parents.