SHANGHAI (Reuters) – China is barring existing core school subject tutoring institutions from making profit, a report in the official Xinhua news agency said on Saturday.
The news confirmed a move contained in a government document widely circulated on Friday that sent shockwaves through China’s vast private education sector and sent share prices of providers plunging.
(Reporting by Zoey Zhang and Engen Tham in Shanghai; Editing by Alison Williams)
