According to a news agency report, in July last year, Chinese authorities announced a ban on the profit -earning tuition service to improve education evidence. Private tuition has been banned in China. This has caused a huge setback to the private education sector, which has a value of $ 120 billion (about Rs 9,28,630 crore). China is expected to see improvement in this region as soon as possible. He believes that capitalism in private tuition sector has captured its possession.
According to the new rules, the apps which are targeting big students will also have to avoid any negative information. Such apps will not have to include gaming links or advertisements on their platform. These rules came in China in February itself and now action is being taken on those who are violating the rules.
Asia Financial said that China’s move in New York, Listed Chinese tutoring firm- New Oriental Education and Technology Group has cut its employees by 60,000. Its shares have also declined drastically. Last year, regulations were imposed in China for several sectors, among them a private tuition sector. Due to banning private tuitions, this sector in China has suffered a huge shock of $ 120 billion (about Rs 9,28,630 crore).
It has been said in the reports that China’s private education firms will no longer be able to bring their IPOs and will not be able to hiring foreign teachers.