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.
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