China’s Biggest Private Tutor to Close Nearly All of Its 1,500-Plus Learning Centers

What’s new: China’s biggest private tuition provider is closing the vast majority of its branches, New Oriental Education & Technology Group Inc.’s founder said, in the wake of new regulations that ban many in the sector from making a profit.

Almost 1,500 of its training centers are to be closed, Yu Minhong said during a livestreaming session on Douyin Sunday. According to media reports, the company had 1,547 training centers and 122 schools nationwide as of May.