Showing 12 of 12 posts with this tag
Chinese private tutoring giant New Oriental announced on Friday that its net losses in the six-month period ended November 30, 2021 were expected to total $800-900 million.
For Chinese K12 online education companies, this June has been unnervingly quiet due to tightening regulation targeting the online education industry.
Investors in the Chinese Ed-tech industry are now on the edge of their seats. A "double reduction" policy, interpreted as China's crackdown on the private tutoring industry, has plunged the entire sector into an existential crisis.
The last three years since the 2018 crackdown on Beijing’s after-school tutoring industry have seen frustration at the industry’s poor habits eventually reach a climax.
Recently, there has been a picture circulating on the internet with the title "China to issue licenses to education and training companies for resuming extracurricular tutoring." On July 20th, the official WeChat account of Chinese Association for Non-Government Education clarified that this information is purely a rumor.
Tencent has invested in education startups in Nigeria, Austria and other overseas markets this year after Chinese authorities introduced tight restrictions on tutoring services in the country.
The Beijing Municipal Bureau of Market Supervision and Administration on Monday imposed the maximum possible penalty on online education platforms Zuoyebang and Yuanfudao for unfair competition and misleading consumers.
On March 14, Xueersi Online, a digital platform owned by Chinese extracurricular education company Tomorrow Advancing Life (TAL), was accused of violating the Double Reduction policy that China previously implemented in an effort to alleviate student stress.
Agora, a leading video, voice and live interactive streaming platform, released new online education multi-scenario solutions on Wednesday, spanning the fields of music, art, vocational education, programming and STEM.
The Chinese Education Ministry announced establishment of a new department to oversee after-school tutoring amid Beijing’s ongoing crackdown on China's burgeoning private tutoring industry.
Zhangmen Education on Tuesday officially went public on the New York Stock Exchange under the ticker symbol "ZME" in the face of tightening restrictions on e-learning platforms from Chinese market regulators, following complaints about improper business practices.
Chinese online education platform GSX Techedu is shutting its early education unit and cutting jobs as Beijing escalates a campaign against the country’s burgeoning after-school tutoring sector, multiple media outlets reported.