China Education Group, an investment holding company principally engaged in the provision of private higher education services, agreed to acquire a 60% stake in Haikou University of Economics, private university in the Hainan Free Trade Port, for $195m. “The national strategy of developing Hainan Free Trade Port has provided bright prospects and favourable policies to create tremendous development opportunities in Hainan. As a leading group in the higher education and vocational education industry, China Education Group will actively participate in the education sector in the Hainan Free Trade Port, so as to meet the demand of students for high-quality higher education and enable more enterprises in the region to benefit from a stronger human capital base,” Xie Ketao, China Education Group Co-Chairman.