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China s private education firms brace for hit from new rules, shares tumble | WSAU News/Talk 550 AM · 99 9 FM

By Syndicated Content Jul 25, 2021 | 9:06 PM HONG KONG (Reuters) -Chinaâs private education firms are bracing for a âmaterialâ hit to their operations after Beijing announced new rules barring for-profit tutoring in core school subjects to ease financial pressures on families. News of the rule changes on Friday sent shockwaves through Chinaâs $120 billion private tutoring sector and triggered a massive sell-off in the shares of companies including U.S.-listed TAL Education Group and Gaotu Techedu. Under the new rules, all institutions offering tutoring on the school curriculum will be registered as non-profit organisations, and no new licences will be granted, according to an official document.

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China s private education firms brace for hit from new rules, shares tumble

China s new private tutoring rules put billions of dollars at stake Reuters 6 hrs ago © Reuters/THOMAS PETER People pick up children from a school in Beijing HONG KONG (Reuters) -China s sweeping new rules in private tutoring has left private education firms facing a significant business impact as Beijing steps up regulatory oversight of a $120 billion industry that investors had bet billions of dollars on in recent years. Popular Searches The new rules released on Friday bars for-profit tutoring in core school subjects in an effort to boost the country s birth rate by lowering family living costs. The news sent shockwaves through the sector and parents struggled to understand how exactly the move would impact their children in a highly competitive education system.

Vidya ranganathan shri navaratnamSumeet chatterjeeGaotu techeduDonny kwokTom westbrookDave wangChina beststudy education groupEducation technology group incEducation groupScholar education groupKoolearn technology holding ltdOriental educationTechnology group incHong kong listedNew orientalScholar education

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