Shares of TAL Education Group (NYSE: TAL) surged over 8% in pre-market trading on Thursday, as the U.S.-listed Chinese education company benefited from a new policy focused on integrating employment and education in China.
The rally was sparked by the release of a policy document from China's top leadership bodies – the Central Committee of the Communist Party and the State Council. The new guidelines emphasize improving the match between education supply and talent demand through enhancing modern vocational education.
To achieve this goal, the policy calls for integrating vocational and regular educational systems, promoting industry-education collaboration, and fostering scientific and educational connections. The aim is to cultivate more high-quality technical skills needed by companies across various sectors.
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