Even with a slowing economy, education will remain a hot zone as millions of Chinese enter the middle class -- and demand better schools and teachers.

Parents are investing heavily in schooling, as they feel the "standard education system doesn't always do a great job," China Market Research analyst Ben Cavender said. "They want their kids to get the best education possible."

Last year, Deloitte estimated that China's private education sector -- which includes after-school tutoring, test-prep, private universities, pre-school education, and continuing education -- will reach a market size of $102 billion by 2015. English-language training alone has reached a market size of $4.8 billion.

Foreign companies have a toehold in this market, offering Chinese students tutoring on tests like the SATs or GREs, along with other Western-style education programs.

Higher-education institutions are also moving into China. In 2011, New York University announced a partnership with East China Normal University to form a campus in Shanghai. Last year, Stanford opened a research center at Peking University. And the University of Nottingham, an early mover, opened its doors in Ningbo in 2004.

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