Beijing tutoring crackdown slams Chinese stocks listed in US

Photo by Bruce Röttgers on Unsplash

Fears of increased of regulation from Beijing crushed U.S.-listed Chinese stocks on Friday following a Chinese government crackdown on private educators.

U.S. shares of TAL Education Group and New Oriental Education & Technology Group Inc, which provide tutoring and test preparation services in China, each dropped more than 50% after news that the government is barring tutoring for profit in core school subjects to ease financial pressures on families that have contributed to low birth rates.

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