At the close of the New York Stock Exchange today, McGraw-Hill announced a joint venture with New Oriental Education & Technology Group. The venture, from two of the world’s leaders in education services, will provide access to after-school programs focused on 21st Century skills to students in China.

“The demand for skills development in China and many other countries around the world is large and growing. This partnership puts McGraw-Hill and New Oriental in a position of strength to deliver critical 21st century skills to students across China,” says Howard McGraw III, chairman, president and CEO of McGraw-Hill Companies.

In an ever-growing global economy, the MaxEn Centers will serve students ranging from ages 4-15 and provide English-language skill development. With the immersion of Global companies in China, language skill development has become a large focus on education. The centers will also focus on digital learning, creative thinking and team-buillding skills, all of which are now essential for college and career readiness.

The timely venture strenthens McGraw-Hill Education’s commitment as a leader in the global college and career readiness market.

“Businesses worldwide are rapidly adopting new technologies and moving at a pace that is bypassing traditional educational resources,” said Robert Bahash, president of McGraw-Hill Education. “Through our partnership with New Oriental, we will develop the tools and programs that provide students with the skills that are vital to their professional and even personal success. It will help them become life-long learners in a learning-centric world.”

View the full press release.

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