Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
WeWork Putting the Brakes on China Push: Report
Tencent-Backed E-Book Platform Partners With Disney for ‘Star Wars’ Project
Tesla’s China Plant Is Hooked Up to State Grid Power Supply
LATEST
Tencent-Backed E-Book Platform Partners With Disney for ‘Star Wars’ Project
iQiyi Looks to AI to Force-Feed Ads to Viewers
Popular Walking App Accused of Financial Fraud
WeWork Putting the Brakes on China Push: Report
‘No New Progress’ on Zotye Joint-Venture With Ford
Qutoutiao’s Online Literature Unit Gets $100 Million Windfall
NBA’s China Crisis Has Already Caused ‘Substantial’ Losses, Commissioner Says
Northern China Aims to Curb Toxic Air Pollution by 4% This Winter
China’s Economic Growth Dips to New Nearly Three-Decade Low
Tesla’s China Plant Is Hooked Up to State Grid Power Supply
Didi Pushes Further Into Latin America With Eye on Costa Rica
Homeowners Demand Refunds After Developer Cuts Prices
Controversial WeChat Public Account Operator Eyes High-Tech Board IPO
Burgeoning Online Marketplace in Crisis After Luring New Shoppers With Merchants’ Money
Huawei Posts Strong Revenue Growth Despite U.S. Export Ban
Ant Financial Seeks Loan of as Much as $3.5 Billion at Lower Rate
China Freezes Some Social Media, Mobile Payment Accounts in Myanmar Cross-Border Fraud Crackdown
Popular Translation App Youdao Downsizes New York IPO
Popular Alibaba-Backed Social E-Commerce App Returns After Months-Long Absence
Cheap-Phone Maker Realme Eyes Upscale Turn With Pricey New Handset
Chinese Bid for Prestigious U.S. Music College Fails

By Xie Wenwen and Ren Qiuyu / Jul 17, 2019 01:40 PM / Business & Tech

Photo: VCG

Photo: VCG

A bid from a Chinese education company to buy a reputable choir college in New Jersey has failed, the latest development in the trend of Chinese education companies buying up educational institutions abroad.

Beijing Kaiwen Education Technology Co. Ltd., a partially government-owned company, made an official bid of $40 million to acquire the Westminster Choir College (WCC), an affiliate of Rider University, in February after agreeing to buy the conservatory in June 2018. At the time, Rider was facing declining enrollment and retention rates and high operating costs, problems familiar to many private non-profit universities in the United States.

However, students, faculty, and alumni expressed opposition to the sale, resulting in two lawsuits, one of which alleged that the acquisition would go against the “mission” of WCC, which trains students to become singers, conductors, music teachers, and ministers of music.

Rider and Kaiwen announced that the two sides had “mutually agreed” not to pursue the sale agreement on July 1.

Related: Chinese Property Tycoon Buys Another UK Private School

Contact reporter Ren Qiuyu (qiuyuren@caixin.com)

Share this article
Open WeChat and scan the QR code