Children take part in LingoAce's interesting online classes. [Photo/WeChat account of Optics Valley of China]

LingoAce – the world's largest overseas Chinese education brand founded in 2017 – decided to establish its Chinese headquarters in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC), with a total investment of 3 billion yuan ($417 million).

Hugh Yao, founder and CEO of LingoAce, signed the cooperation contract with the valley on July 11, making the company the only all-foreign-owned enterprise in the Wuhan area of China (Hubei) Pilot Free Trade Zone in the field of cultural and creative service export.

The online learning platform independently developed by LingoAce caters to the Chinese, English, math, and music learning demands of children aged between three to 15, with more than 4,000 teaching faculties offering classes through the platform. Now its students span over 100 countries and regions.

The company has been on the list of GSV 150 – representing the most transformative private companies in education – for two years.

At a themed work session witnessing the contract signing, government officials highlighted OVC's rich talent and sci-tech resources. They pledged to build a more market-oriented, law-based, and international business environment to help LingoAce thrive in the valley.