Mr Yu clarifies rumours of privatisation in new Oriental

September 10, the launching ceremony of the "2013 Chinese Economic Leaders Festival", sponsored by Phoenix, "21st Century Economic Report" and the Voice of China Radio, was held in Beijing. This festival invited the first four Chinese economic leaders to participate in the exchange, including the new Oriental Education Chairman Yu Yu as the leading Chinese economic leaders of the award, as a guest of honour to attend the event.

Mr Yu gave his answer at the meeting, in response to rumours of a more concerned new oriental privatisation. Mr Yu said the shares had fallen to less than 10 dollars last year when the new Oriental had been short of muddy water, when many asked about his privatisation, but he did not think of privatisation, but rather more about retail sentiment. Mr Yu also said: "If the new Oriental shares are worthless, no one has bought the shares, I will consider borrowing a sum of money to go private." Mr Yu had repeatedly regretted the listing of the new Oriental, but at the meeting he also said that if the new Oriental had to go public, it would still choose U.S. stocks, which would be higher than the low P/e ratios of Hong Kong stocks.