China’s largest private tuition provider, New Oriental Education & Technology Group, has announced that it will close 1,500 of its training centers in the wake of new regulations that prohibit many companies in the sector from turning a profit, reports Caixin. According to media reports, the company had 1,547 training centers and 122 schools nationwide as of May.
The closing branches have donated more than 73,000 desk and chair sets to rural schools, the New York-listed company said.
Many tuition companies have been affected by sweeping reforms launched in July to ease the burden on students, which bar for-profit tutoring in core curriculum subjects, including Chinese, foreign languages and mathematics. The number of tutoring companies in business has fallen in several cities, according to a string of reports released by China’s Ministry of Education last month. Around two-thirds of the tutoring institutions operating in Beijing have closed since July.