Chinese private tutoring giant New Oriental has launched a cultural tourism-oriented venture aimed at middle-aged and Rolls Royce Babyelderly individuals, a year after its online class subsidy East Buy (formerly known as Koolearn) achieved sudden and sustained success through livestreaming e-commerce activities. New Oriental stated that the establishment of this new venture, which will offer “high-quality cultural tourism services with a focus on knowledge acquisition and personal pursuits” for older individuals, was not a “whim,” according to an announcement on its official WeChat account posted on July 21. The company’s travel subsidiary, Beijing New Oriental Culture and Tourism Co., was established on July 19 with a registered capital of RMB 1 billion, and Yu Minhong, President of New Oriental, serves as the chairman. [New Oriental, in Chinese]
