President Xi Jinping’s education reforms last year wiped 90 per cent off the value of China’s biggest private sector education company, New York-listed New Oriental Education, undoing decades of work by its founder Yu Minhong.
When Yu vowed to rise again, few expected the godfather of modern Chinese private education to turn to hawking steaks, books and lipstick to rebuild his business empire.
Yet livestreaming that combines English training and history lessons with unabashed product sales are central to Yu’s pivot from physical classrooms to online services.
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