The onetime online education giant has reinvented itself as an e-commerce site — and has become profitable again.
In July 2021, China’s government nearly wiped out the country’s entire online tutoring industry after it banned almost all private, after-school educational services. Six months later, Yu Minhong, founder of online education giant New Oriental, was seen in public for the first time in a surprising new role: selling cherries and other fruits and vegetables via a livestream.
Yu’s move was part of New Oriental’s pivot to e-commerce after its previous business of selling after-school tuto
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For much of the past two decades, Europe's luxury market has counted on the ferocious appetite of Chinese consumers to bolster its bottom line. But foreign luxury brands are facing a reckoning in China. Not only is China’s economy entering a more uncertain phase, giving consumers pause, but homegrown designers and labels are also gaining ground. The questions now are which European brands can still rely on China, and how China's domestic designers can capture a share of the pie.
The Treasury’s top international official gives an inside-the-room account of the latest talks between Treasury Secretary Yellen and the Chinese leadership, including the U.S.’s efforts to get Beijing to address overcapacity and economic imbalances, how...
A podcast about how the two nations, once friends, are now foes.
Hear why things are so complicated now. Host Jane Perlez, former New York Times Beijing bureau chief, talks with diplomats, spies, cultural superstars like Yo Yo Ma, and more to understand why the dangers are so high, and why relations went awry.