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China – New rules have China private education firms bracing for a hit (Al Jazeera)

Al Jazeera writes: China’s private education firms are bracing for a “material” 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, after a leaked document circulated on social media, sent shockwaves through China’s $120bn private tutoring sector and triggered a massive sell-off in the shares of companies including US-listed TAL Education Group and Gaotu Techedu.

go to Al Jazeera: New rules have China private education firms bracing for a hit | Business and Economy News | Al Jazeera