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           More than 160,000 tutoring agencies have closed down due to the “double reduction” policy.

        “When I first started the business               “                   employees. “After finishing all these, I
      13 years ago, there were no regulations                                think I will go to teach in rural villages
      or government restrictions,” Zhang    It is impossible to              for a year or two,” Zhu said in the post.
      says. “Parents and schools wanted us                                      New Oriental Education & Tech-
      to help their children and students to   operate if we follow          nology  Group Inc  (Xindongfang) is
      get into prestigious schools,” he adds.                                the largest player in the private tutor-
        “Even big companies like New      the official guide on              ing market in China. The company
      Oriental Education & Technology                                        had 1,600 branches and over two mil-
      Group (Xindongfang) cannot escape.   tuition fee charges.              lion students all over the country, ac-
      They stopped offering online classes                                   cording to its third-quarter financial
      in August immediately. Many teach-    We cannot make                   report in the 2021 fiscal year. It mainly
      ers have lost their jobs, and no help is   any profit.                 offered courses related to the Test of
      offered to them,” Zhang says.                                          English as a Foreign Language (TOE-
        Zhu Yu, vice-president and chief                                     FL) and for K-12 students.
      executive officer of Oriental Youbo                                       Zhang says he will change his busi-
      (New Oriental’s online K-12 course                 ”                   ness model. “We can run calligraphy
      project), posted a message on WeChat                                   classes or Lego playgroups since those
      in September saying that the company                                   are not related to the compulsory edu-
      was financially healthy. Oriental You-                                 cation,” he explains.
      bo promised to fully refund all tuition                                   “As long as the demand exists,
      fees to students and compensated its                                   there is always a way out. The require-
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