China Business Now

New Oriental announced it will terminate its curriculum-based tutoring services for students from kindergarten through grade nine, or known as K-9, at all learning centres across China by the end of the year. TAL Education and Gaotu, leading education firms, had also came to the same decision. The Tencent backed online tutor VIPKid has also ended it signature classes with foreign teachers for K-12 students in the Chinese mainland. 

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The BSE, which is seen nurturing more technologically advanced small and medium-sized enterprises, has been initiated by the central regulators in early September. It is initially built upon the NEEQ Select, the highest tier of the eight-year-old National Equities Exchange and Quotations system.

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With regard to upholding “One Country, Two Systems”, the plenum stressed that Hong Kong and Macao should be “governed by patriots” in order to restore order in Hong Kong and ensure a turn for the better in the region. The communique also puts firm stance on opposing separatist activities seeking “Taiwan independence.” 

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The key resolution at the sixth plenary session this week will be a crucial political document that could chart the Party's direction for the next few decades, analysts said. It is only the third since the CPC’s foundation in 1921, with previous resolutions delivered by Mao Zedong and Deng Xiaoping.

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The 19th Central Committee of the Communist Party of China (CPC) started its sixth plenary session in Beijing on Monday, which is scheduled to last until Thursday. More than 370 full and alternate members of the Central Committee, the party’s highest governing body, gathered in Beijing for the plenum ahead of next year’s National Congress, when a major leadership reshuffle is expected. Why are the plenums important? The plenums are a key venue for the party to display unity among the party leadership and indicate the direction of key policies. The current 19th Central Committee was elected in 2017 and will sit until next year’s National Congress, when a new committee will be appointed. At this week’s meeting, Xi will be the third-ever party leader to unveil a historical resolution at the sixth plenum, which will focus on the “major achievements and historical experiences” of the party throughout its 100-year history.

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China’s biggest private tuition provider is closing the vast majority of its branches, New Oriental Education & Technology Group’s founder said, in the wake of new regulations that ban many in the sector from making a profit.

Recent extreme weather in some regions, COVID-19 resurgence across many provinces and the energy crunch, are believed to have sent vegetable prices soaring in China.

The recent increase in the price of vegetables in China has reached its peak, with prices of leafy greens in particular seeing an obvious decline in many areas of the country. The average wholesale price of 28 kinds of vegetables in October monitored by the ministry increased 16.7 percent from September and 11.7 percent year-on-year. 

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After the resounding success of the first three editions, the fourth China International Import Expo (CIIE) is set to further China's mission of opening-up to the world, making its due contributions in paving a path towards a shared future for all. Scheduled from November 5 to 10 in Shanghai, this year's expo is bigger than the previous ones in many ways.

Double 11 frenzy is officially kicking off. This year's Double 11 shopping festival, the largest online sales event in China, has got off to a solid start. Experts said that this year's sales is likely to surpass last year's level, as new COVID-19 outbreaks pushing consumers to turn to online purchases. 

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