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New Oriental Training & Know-how Group founder, chairman and chief government Michael Yu Minhong has shared particulars of the non-public and monetary ache felt after Beijing’s crackdown on the nation’s off-campus tutoring providers sector final 12 months.
“In 2021 … the market worth of New Oriental dropped by 90 per cent, income declined by 80 per cent and 60,000 folks had been dismissed,” Yu wrote on his private WeChat account over the weekend. “We paid almost 20 billion yuan (US$3.1 billion) for…
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