{"id":31727,"date":"2022-01-10T12:15:25","date_gmt":"2022-01-10T12:15:25","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=31727"},"modified":"2022-01-10T12:15:25","modified_gmt":"2022-01-10T12:15:25","slug":"china-tech-crackdown-new-orientals-yu-minhong-counts-his-losses-in-2021-points-to-frugal-future","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=31727","title":{"rendered":"China tech crackdown: New Oriental\u2019s Yu Minhong counts his losses in 2021, points to frugal future"},"content":{"rendered":"<p>Source: Tech &#8211; South China Morning PostNew Oriental Education founder, chairman and chief executive Yu Minhong has shared details of the personal and financial pain felt after Beijing cracked down on the country\u2019s off-campus education services industry last year.\u201cIn 2021 \u2026 the market value of New Oriental dropped by 90 per cent, revenue declined by 80 per cent and 60,000 people were dismissed,\u201d Yu wrote on his personal WeChat account over the weekend. \u201cWe paid nearly 20 billion yuan (US$3.1 billion) for tuition refunds, employee\u2026<a href=\"https:\/\/www.scmp.com\/tech\/big-tech\/article\/3162824\/china-tech-crackdown-new-orientals-yu-minhong-counts-his-losses-2021?utm_source=rss_feed\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Tech &#8211; South China Morning PostNew Oriental Education founder, chairman and chief executive Yu Minhong has shared details of the personal and financial pain felt after Beijing cracked down&hellip; <\/p>\n","protected":false},"author":0,"featured_media":31728,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/31727"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31727"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/31727\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/media\/31728"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31727"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}