China Considers Turning Tutoring Companies Into Non-Profits
China is considering asking companies that offer tutoring on the school curriculum to go non-profit, according to people familiar with the matter, as part of a sweeping set of constraints that could decimate the country’s $100 billion education tech industry. Shares sank.
China’s latest campaign to rein in its US$100 billion (S$136 billion) out-of-school education sector was meant to level the playing field for all. Instead, the crackdown is forcing tutors to go under the radar, making their services even more expensive – and exclusive.