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Michael Yu

Source: China Entrepreneur Club | Date: 16-05-26  
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Vice President, China Entrepreneur Club (CEC)

Chairman and CEO, New Oriental Education and Technology Group

Background

Growing up in a small village in Jiangsu, Yu dreamed of studying at the best universities in the world. After failing to achieve the Chinese entrance examination requirements for Peking University twice, Michael Yu managed to get into the “Harvard of China” on his third attempt. After graduating and successfully enrolling in an American university, Yu was repeatedly denied a visa. Ultimately, the challenge inspired him to build a company that would help other students get the chance to go abroad.

New Oriental Education

In 1993, Michael Yu founded Beijing New Oriental School in an abandoned warehouse in Beijing’s Haidian district. In 2001, New Oriental Education and Technology Group formed, and became the largest provider of private educational services in China.

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 in the United States in 2006. As of May 2014, New Oriental had built 56 short-time language educational schools, 30 book stores, and 703 learning centers in 50 cities across China.

Recognition

Yu is considered one of the twenty-five most influential people in China’s twentieth century, and was selected as Fortune top 50 most influential business leaders in China.

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