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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.

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Chinese Tutoring Firms Extend Plunge as Beijing Cracks Down

Chinese Tutoring Firms Extend Plunge as Beijing Cracks Down Jeanny Yu, Bloomberg News BC-Chinese-Tutoring-Firms-Extend-Plunge-as-Beijing-Cracks-Down , Jeanny Yu (Bloomberg) A selloff in Chinese private education companies accelerated after Beijing announced reforms that rendered them âun-investable,â according to analysts. New Oriental Education & Technology Group Inc. plunged as much as 40%, extending Fridayâs record 41% fall and after its U.S. traded shares dropped 54%. It warned in a Monday stock exchange filing that the regulations will have a material adverse impact on the company. Koolearn Technology Holding Ltd. tumbled as much as 35%, while China Maple Leaf Educational Systems Ltd. dropped 16%. Chinese regulators on Saturday published reforms that will fundamentally alter the business models of private firms teaching the school curriculum, as Beijing aims to overhaul a sector it says has been âhij

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Chinese tutoring firms shares tank after Beijing crackdown

Chinese tutoring firms shares tank after Beijing crackdown Issued on: 26/07/2021 - 07:38 China s for-profit tutoring sector has come under the spotlight in recent years owing to heavy workloads and the the high costs of a good education STR AFP 3 min Beijing (AFP) Stocks in Chinese tutoring firms tumbled Monday after Beijing imposed new rules on companies to register as non-profit organisations, effectively wiping out business models in the multibillion-dollar sector, with analysts saying the groups were essentially uninvestable . Officials said Saturday they will stop approving new after-school education institutions, while all existing ones must now register as non-profits, as they warned that the industry had been hijacked by capital .

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Investors in China s $100bn private education business are stuck | Business and Economy News

Investors in China s $100bn private education business are stuck | Business and Economy News
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Chinese tutoring firms shares sink after Beijing crack

Chinese tutoring firms shares sink after Beijing crack
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