China's East Buy plans $211m sale of education unit to pivot to live-streaming e-commerce

China's East Buy plans $211m sale of education unit to pivot to live-streaming e-commerce

Photo from New Oriental's company ESG report.

East Buy Holding Limited, a subsidiary of Chinese private education giant New Oriental, is moving ahead with a plan to sell its education business to the parent group for 1.5 billion yuan ($211.3 million) amid restructuring efforts in the years following Beijing’s crackdown on the industry.