He also said that over 90 percent of the K12 industry practitioners used to be teachers working at public schools, or those working for small-sized studios. Major industry players such as Beijing-headquartered New Oriental Education and Technology Group and Beijing-based Tomorrow Advancing Life accounted for less than 10 percent of the market share. Even though in first-tier cities such as Beijing and Shanghai, these two industry leaders only took up 15 percent and 12 percent of the local K12 education market share respectively.
Having gone through a lackluster first quarter, Porsche is expecting the sales in China to hit a new high this year although an overall slowdown has not shown signs of abating in the world's largest auto market.
He admires Borun’s founder, Chen Bing. “He is visionary. He might not get the recognition like Alibaba’s Jack Ma, but he learned from ground up, he saw some of the needs in China, what it takes to meet the needs and also does it in a way to make business sense. He got that internal will or moral compass to do it right.”
He added that joint cross-border infrastructure projects such as the building of an international transport corridor and the North Polar sea-route will help promote interconnectivity to inject new vigor into the cooperation.
He applauded the adoption of the Supervision Law, saying the establishment of the National Supervisory Commission was an important part of fighting graft.
He added that it will have a flight range of 1,000 kilometers and will be able to fly at an altitude of more than 3 km. The blimp will come in two types, one piloted and one remotely controlled, he said. Details on the blimp's size were not disclosed.
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He Yun, an assistant professor at Hunan University's School of Public Management, said that Germany and China share many overlapping interests that demand closely-coordinated efforts.
He added that "we stand with our kith and kin in America in these difficult and trying times, and we hope that the unfortunate, tragic death of George Floyd will inspire a lasting change in how America confronts head on the problems of hate and racism."
He added it expected to "attract capital from all over the world, including China."
He also said the US was "capricious", as the two sides had achieved a positive outcome in the agriculture and energy sectors during talks in both Washington in May and in Beijing in early June, but the US has been "acting unpredictably" with its policymaking and holding "big sticks" for negotiations.