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Under siege, China s private education giants take steps to curb fallout Sorry, but your browser needs Javascript to use this site. If you re not sure how to activate it, please refer to this site: https://www.enable-javascript.com/ Students study in their classrooms at night at a school in Yangzhou, China. | GETTY IMAGES / VIA BLOOMBERG Bloomberg Jul 29, 2021 China’s largest private education firms are moving swiftly to overhaul their businesses to adjust to a harsh new reality after Beijing launched a sweeping crackdown on the $100 billion sector. Two of the sector’s biggest names have in past days reached out to reassure investors and managers their businesses remain viable and won’t abruptly collapse, according to people familiar with the matter. Yuanfudao, the $15.5 billion startup backed by Tencent Holdings Ltd. and DST Global, plans to yank all advertising after already curtailing part of its marketing earlier this year, one of its largest expenses,

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