China’s after-school tutoring crackdown goes nuclear
New draft rules circulated today would force China’s private education companies to turn nonprofit. Share prices of tutoring companies plummeted, and some see the end of a highly lucrative industry.
A popular Chinese commentator argued on Twitter today that turning the education companies nonprofit would be a big blow to investors, but not necessarily for parents and children. Even if this new policy is problematic, “the direction is right.”