New Oriental Education & Technology Group Inc. (, , ), more commonly New Oriental (), is a provider of private educational services in China. The headquarters of New Oriental is located in

Haidian District Haidian District () is a district of the municipality of Beijing. It is mostly situated in northwestern Beijing, but also to a lesser extent in the west, where it has borders with Xicheng District and Fengtai District. It is 431 square km in a ...

Beijing } Beijing ( ; ; ), alternatively romanized as Peking ( ), is the capital of the People's Republic of China. It is the center of power and development of the country. Beijing is the world's most populous national capital city, with over 21 ...

. It is currently the largest comprehensive private educational company in China based on the number of program offerings, total student enrollments, and geographic presence. The business of New Oriental includes pre-school education, general courses for students of various age levels, online education, overseas study consulting, and textbook publishing. New Oriental was the first Chinese educational institution to enter the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...

in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

, holding its IPO in 2006. As of 2016, New Oriental has built 67 short-time language educational schools, 20 book stores, 771 learning centers, and more than 5,000 third-party bookstores in 56 cities in China. New Oriental has had over 26.6 million student enrollments, including over 1.3 million enrollments in first quarter 2017. The company's market capitalization was approximately US$14 billion. The company has been investing heavily in online education since 2015.

History

Beijing New Oriental School was established on November 16, 1993, by Yu Minhong, an English teacher at

Peking University Peking University (PKU; ) is a public research university in Beijing, China. The university is funded by the Ministry of Education. Peking University was established as the Imperial University of Peking in 1898 when it received its royal charter ...

. He initially focused on the

TOEFL Test of English as a Foreign Language (TOEFL ) is a standardized test to measure the English language ability of non-native speakers wishing to enroll in English-speaking universities. The test is accepted by more than 11,000 universities a ...

and

GRE The Graduate Record Examinations (GRE) is a standardized test that is an admissions requirement for many graduate schools in the United States and Canada and a few other countries. The GRE is owned and administered by Educational Testing Servi ...

exams but then expanded the company to provide services for various other exams and fields as well. The school is now one of the largest companies in China, and on September 7, 2006, New Oriental was listed on

The company

As of 2016 there are 67 schools, learning centers, vocational training centers and offices all over Mainland China. The

North America North America is a continent in the Northern Hemisphere and almost entirely within the Western Hemisphere. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and the Car ...

Department and

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...

Department are the company's main source of revenue, which focuses on preparing students for the

SAT The SAT ( ) is a standardized test widely used for college admissions in the United States. Since its debut in 1926, its name and scoring have changed several times; originally called the Scholastic Aptitude Test, it was later called the Schol ...

, ACT

GMAT The Graduate Management Admission Test (GMAT ( ())) is a computer adaptive test (CAT) intended to assess certain analytical, writing, quantitative, verbal, and reading skills in written English for use in admission to a graduate management ...

IELTS The International English Language Testing System (IELTS ), is an international standardized test of English language proficiency for non-native English language speakers. It is jointly managed by the British Council, IDP: IELTS Australia an ...

and

LSAT The Law School Admission Test (LSAT; ) is a standardized test administered by the Law School Admission Council (LSAC) for prospective law school candidates. It is designed to assess reading comprehension as well as logical and verbal rea ...

. The company also offers other services including preparing students for the National English Graduate Exam, Teenage English Courses, Pop English (Kindergarten and Primary School English), consultation on preparing for interviews, consultation on preparing admission letters.

Key people

Yu Minhong (b. October 15, 1962; also known as "Michael Yu") was appointed CEO and chairman of the company, starting in 1993. He started his career at Peking University in 1985. He founded New Oriental in 1993 after he left

. He is vice chairman of Beijing Young Entrepreneurs Association. Louis Hsieh served as New Oriental's

chief financial officer The chief financial officer (CFO) is an officer of a company or organization that is assigned the primary responsibility for managing the company's finances, including financial planning, management of financial risks, record-keeping, and financ ...

from 2005 to 2015, and president from 2009 to 2016.Hsieh, Louis
Reuters profile.

Legal conflicts with ETS

In 2001, the US

Educational Testing Service Educational Testing Service (ETS), founded in 1947, is the world's largest private nonprofit educational testing and assessment organization. It is headquartered in Lawrence Township, New Jersey, but has a Princeton address. ETS develops var ...

sent a public letter to US universities, reminding them to pay special attention to Chinese students' GRE scores. In this letter, ETS hinted that New Oriental used their past exam questions in teaching without authorization. In January, 2001, New Oriental was sued by the ETS for illegally copying, publishing, and selling its testing questions for examinations for non-English-speaking students since 1997. On September 27, 2003, the First Intermediate People's Court of Beijing made a ruling during the first trial, ordering the Chinese school to pay over 10 million yuan (about 1.2 million US dollars) to the ETS in compensation for the infringement. The

Higher People's Court A high people's court or higher people's court (高级人民法院) is the highest local court in the People's Republic of China. In each province, it is subject to the "People's Congress". According to the ''Organic Law of the People's Courts ...

of Beijing maintained that the Beijing-based New Oriental School (NOS) should pay compensation to the ETS, for the infringement of copy and trademark rights. However, the higher court reduced the sum of compensation by over 6 million yuan (about 722,000 US dollars) to 3,740,186.2 yuan (about 450,624 US dollars) plus 22,000 yuan (about 2,650 US dollars) for court charges.G.H. Tang. Copyright and the Public Interest in China.

References

External links