China tech crackdown: Beijing’s off-campus tutoring ban puts 90 per cent of firms out of business

Mar 1, 2022 | INVESTING

China’s Ministry of Education, which last summer banned off-campus tutoring firms from making a profit, released figures that showed the number of these bricks-and-mortar classrooms has plunged 92 per cent since the crackdown.The number of companies providing offline tutoring services plummeted to 9,728 by the end of February, compared with about 124,000 before the crackdown, according to the ministry’s Off-Campus Education and Training Department, which was created last year to oversee the…

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