Msito Xi got balls .He has destroyed a parasitic $100 billion education industry virtually overnight .

[Sambamba]

Beijing on Saturday published a plethora of regulations that together threaten to up-end the sector and jeopardize billions of dollars in foreign investment. Companies that teach school subjects can no longer accept overseas investment, which could include capital from the offshore registered entities of Chinese firms, according to a notice released by the State Council. Those now in violation of that rule must take steps to rectify the situation, the country’s most powerful administrative authority said, without elaborating.

In addition, listed firms will no longer be allowed to raise capital via stock markets to invest in businesses that teach classroom subjects. Outright acquisitions are forbidden. And all vacation and weekend tutoring related to the school syllabus is now off-limits.

The regulations threaten to obliterate the outsized growth that made stock market darlings of TAL Education Group, New Oriental Education & Technology Group and Gaotu Techedu Inc. They could also put the market largely out of reach of global investors. Education technology had emerged as one of the hottest investment plays in China in recent years, attracting billions from the likes of Tiger Global Management, Temasek Holdings Pte and SoftBank Group Corp.

[INDENT]What Bloomberg Intelligence Says
“Operating losses at New Oriental and TAL can only worsen over the next several years as China overhauls its tutorial industry. Cost cuts won’t keep pace with revenue declines in the short term as the government, with the stated goal of lightening students’ workload, banned for-profit school tutoring as well as holiday and weekend lessons.”
– Catherine Lim, Bloomberg Intelligence
Click here to read the research.[/INDENT]
In a series of statements over the weekend, all the major education companies said they would comply with the new rules and support the decisions of the party.

In a post on its official Weibo account, TAL said it would “fully implement the party’s education policy” and “strive to cultivate people’s talents with all-around development of morality, intelligence and physical health.”

The regulatory assault mirrors Beijing’s broader campaign against the growing heft of Chinese internet companies from Didi Global Inc. to Alibaba Group Holding Ltd. It stems from a deeper backlash against the industry, as excessive tutoring torments youths, burdens parents with expensive fees and exacerbates inequalities in society.

The out-of-school education industry has been “severely hijacked by capital,” according to a separate article posted on the site of the Ministry of Education. “That broke the nature of education as welfare.”

FOR MORE ON CHINA’S AFTER-SCHOOL CRACKDOWN
[ul]
[li]From Tiger to Temasek, Investors Scarred by China EdTech Assault[/li][li]China Said to Mull Turning Tutoring Firms Into Non-Profits[/li][li]China ADRs Tumble in Longest Rout Since 2019 on Fresh Risks[/li][li]Why China Is Cracking Down Now on After-School Tutors: QuickTake[/li][/ul]

Once regarded as a sure-fire way for aspiring children (and parents) to get ahead, after-school tutoring is now viewed as an impediment to one of Xi Jinping’s top priorities: boosting a declining birth rate.

It’s a stunning reversal of fortune for an industry that once boasted some of the fastest growth rates in the country. Alibaba, Tencent Holdings Ltd. and ByteDance Ltd. were among the big names that have invested in a sector that had been expected to generate 491 billion yuan ($76 billion) in revenue by 2024. Those lofty expectations groomed a generation of giant startups like Yuanfudao and Zuoyebang. Online education platforms attracted about 103 billion yuan of capital in 2020 alone, according to iResearch.

Devised and overseen by a dedicated branch set up just last month to regulate the industry, the rules unveiled Saturday were couched in general terms that could be applied broadly to common practices throughout the industry. The new regulations are focused on compulsory subjects, meaning critical material like math, science and history. Classes for art or music mostly would not fall under the new restrictions.

By submitting my information, I agree to the Privacy Policy and Terms of Service and to receive offers and promotions from Bloomberg.
Among other things, they also ban the teaching of foreign curriculums, tighten scrutiny over the import of textbooks and forbid the hiring of foreign teachers outside of China – a curb that could have severe consequences for startups like VIPKid that specialize in overseas tutors. The government also ordered local authorities to tighten approvals for companies providing training on extra-curriculum subjects.

[INDENT][SIZE=5]New Regulations for China’s Education Sector:[/SIZE]
[ul]
[li]Companies and institutions that teach the school curriculum must go non-profit[/li][li]Such institutions cannot pursue IPOs, or take foreign capital[/li][li]Listed companies will be prohibited from issuing stock or raising money in capital markets to invest in school-subject tutoring institutions, or acquiring their assets via stock or cash[/li][li]Foreign firms are banned from acquiring or holding shares in school curriculum tutoring institutions, or using VIEs (variable interest entities) to do so. Those already in violation need to rectify the situation[/li][li]All vacation and holiday cirriculum tutoring is off-limits[/li][li]Online tutoring and school-curriculum teaching for kids below six years of age is forbidden[/li][li]Agencies cannot teach foreign curriculums or hire foreigners outside of China to teach[/li][/ul][/INDENT]
https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i1NJzQN7mHr0/v2/pidjEfPlU1QWZop3vfGKsrX.ke8XuWirGYh1PKgEw44kE/620x-1.png
It’s ultimately unclear how the government clampdown will turn out – many believe Beijing won’t seek to annihilate an industry that still plays an essential role in grooming its future workforce.

For now, many investors may choose to err on the side of caution. The government’s desire to assert control over the economy and one of its most valuable resources lies at the heart of recent regulatory clampdowns on online industries. Companies that operate as internet platforms have come increasingly under scrutiny because of the reams of data they collect, stirring government concern over issues of privacy and security.

Online tutoring agencies will also be forbidden from accepting pupils under the age of six. To make up for the shortfall, China will improve the quality of state-run online education services and make them free of charge, the State Council said.

“All regions can no longer approve new subject-based off-campus training institutions for students in the compulsory education stage, and existing subject-based training institutions are uniformly registered as non-profit institutions,” according to the State Council notice.

https://www.bloomberg.com/news/articles/2021-07-24/china-bans-school-curriculum-tutoring-firms-from-going-public

[system]

By the same token he should ban Chinese university students from studying abroad especially the US, but how else would they steal intellectual property?

[Sambamba]

Heniway to the low IQ bobnobos kabla mkuje hapa hapa na communism nonsense .

I hope one day some ballsy president will ban or at least regulate private schools and hospitals here in Kenya .

TL;DR from a Chinese on some forum has explained it well

This ban achieves 4 major benefits :

[ol]
[li]Levels the playing field for low-income families that can’t afford to put their kids through expensive tutoring[/li][li]Lowers the overall cost of raising a child, promoting higher birth rates[/li][li]Reduces the stress of childhood, no more 996 working hours for kids[/li][li]Eliminates foreign influence in teaching. No more foreign teachers’ online classes, no more foreign textbooks.[/li][/ol]
Just another Gigachad move that demonstrates the power of the CPC. Wiped out 50% stock value of a $100 billion dollar industry overnight. Sure, the shareholders lose, but the people win.

Let’s see which overgrown industry gets the ax next.

–

For those not familiar with the background here:

The private tutoring industry is ginormous in China. Some kids spend more time in private tutoring than then do in actual school. The good teachers often choose private tutoring over public schools because of the huge pay boost.

Parents hate that they have to put their kids through private tutoring, but they have no choice because if they don’t then their kids fall behind their peers who do go through private tutoring.

It’s one of those “Prisoner Dilemma”, Game Theory situations that the free market could never resolve. The state has to step in and just end the game, saving everyone the trouble and the money.

Frankly, this move was long overdue.

[system]

[SIZE=5]FBI is investigating more than 1,000 cases of Chinese theft of US technology[/SIZE]

US officials talk about all the methods the Chinese government and its agents have been using to target US companies and universities to steal intellectual property.

Members of the US government held a conference in Washington this week on the topic of Chinese theft of intellectual property from US technology firms and the US academic sector.

Officials said the purpose of the conference – named the China Initiative Conference – was to bring the US private sector and the academic and research communities up to speed with the US government’s investigations.

For the duration of four hours, some of the highest officials from the Federal Bureau of Investigations (FBI) and the Department of Justice (DOJ) spent their time raising a sign of alarm and putting the private and academic sector on alert about the threats they are currently facing in terms of intellectual property (IP) theft from Chinese entities.

“The threat from China is real, it’s persistent, it’s well-orchestrated, it’s well-resourced, and it’s not going away anytime soon,” John Demers, Assistant Attorney General for National Security, opened the conference.

“This one to me really stands out as the greatest long-term threat to our nation’s information and intellectual property, and to our economic vitality,” said FBI Director Christopher Wray.

[SIZE=5]More than 1,000 cases of IP theft[/SIZE]
The FBI director says cases have been piling up since 2018, ever since the DOJ launched the China Initiative campaign to counter and investigate Beijing’s economical espionage.

“The FBI has about a thousand investigations involving China’s attempted theft of U.S.-based technology in all 56 of our field offices and spanning just about every industry and sector,” Wray said.

John Brown, FBI Assistant Director for the Counterintelligence Division, said the bureau has already made 19 arrests this fiscal year alone on charges of Chinese economic espionage.

In comparison, the FBI made 24 arrests all last fiscal year, and only 15, five years earlier, in 2014.

https://www-zdnet-com.cdn.ampproject.org/ii/AW/s/www.zdnet.com/a/hub/i/2020/02/09/e7506e05-75db-429a-8438-c48cf2761a1b/china-arrests.png

Image: FBI

Wray said the Beijing government has shown “they’re willing to steal their way up the economic ladder at [the US’] expense.”

Several FBI and DOJ bigwigs were at the conference to hammer the point home for attendees during a four-hour marathon.

US Attorney General William Barr also gave a speech, urging the US and allies to invest in Nokia and Ericssonto counter Huawei’s growing presence on the 5G market, but also teased new charges against Chinese hackers.

Adam Hickey, Deputy Assistant Attorney General; William Evanina, Director of the National Counterintelligence and Security Center; several US district attorneys; presidents and CEOs from US companies; and members from the US’ biggest universities also gave speeches and attended panels to detail their experiences on dealing with China, and to raise a sign of alarm for other US companies and universities.

[SIZE=5]Chinese theft takes place indiscriminately[/SIZE]
US officials said all Chinese theft operations are happening based on an well-established plan handed down from the Beijing government, with areas of interest to target, which the Sino government sees critical to becoming self-sufficient.

“They’re not just targeting defense-sector companies. The Chinese have targeted companies producing everything from proprietary rice and corn seeds to software for wind turbines to high-end medical devices,” FBI Director Wray said.

“And they’re not just targeting innovation and R&D. They’re going after cost and pricing data, internal strategy documents, bulk PII; really just about anything that can give them a competitive advantage,” he added.

“They’re also targeting cutting-edge research at our universities,” Wray said.

Further, Jay Town, US Attorney for the Northern District of Alabama, said the theft attempts don’t happen only in the US big cities and technological centers like Silicon Valley or New York. They happen all over the country, from Alabama to Iowa.

https://www-zdnet-com.cdn.ampproject.org/ii/AW/s/www.zdnet.com/a/hub/i/2020/02/09/b9b3aa0d-391a-4645-b974-a2c08348c337/china-what-to-steal.png

Image: FBI[SIZE=5]Anything goes[/SIZE]

The primary purpose of the conference was to get US companies and the academic sector up to date with all the techniques the Chinese government is using to get their data on US technology.

“China is using a wide range of methods and techniques,” Wray said.

“And I’m talking about everything from cyber intrusions to corrupting trusted insiders. They’ve even engaged in outright physical theft” the FBI Director said.

“They’ve pioneered an expansive approach to stealing innovation through a wide range of actors, including not just Chinese intelligence services but state-owned enterprises, ostensibly private companies, certain kinds of graduate students and researchers, and a whole variety of other actors all working on their behalf.”
More…
https://www.zdnet.com/article/fbi-is-investigating-more-than-1000-cases-of-chinese-theft-of-us-technology/

[ndume]

It should be imposed in Kenya. Mambo ya watoto kwenda shule 5 a.m and on Saturdays should be banned. During our days, classes used to start at 8.

[Charles]

a step in the right direction

[Koolibah]

@Purple

[SIZE=5]FBI is investigating more than 1,000 cases of Chinese theft of US technology[/SIZE]

US officials talk about all the methods the Chinese government and its agents have been using to target US companies and universities to steal intellectual property.

Members of the US government held a conference in Washington this week on the topic of Chinese theft of intellectual property from US technology firms and the US academic sector.

Officials said the purpose of the conference – named the China Initiative Conference – was to bring the US private sector and the academic and research communities up to speed with the US government’s investigations.

For the duration of four hours, some of the highest officials from the Federal Bureau of Investigations (FBI) and the Department of Justice (DOJ) spent their time raising a sign of alarm and putting the private and academic sector on alert about the threats they are currently facing in terms of intellectual property (IP) theft from Chinese entities.

“The threat from China is real, it’s persistent, it’s well-orchestrated, it’s well-resourced, and it’s not going away anytime soon,” John Demers, Assistant Attorney General for National Security, opened the conference.

“This one to me really stands out as the greatest long-term threat to our nation’s information and intellectual property, and to our economic vitality,” said FBI Director Christopher Wray.

[SIZE=5]More than 1,000 cases of IP theft[/SIZE]
The FBI director says cases have been piling up since 2018, ever since the DOJ launched the China Initiative campaign to counter and investigate Beijing’s economical espionage.

“The FBI has about a thousand investigations involving China’s attempted theft of U.S.-based technology in all 56 of our field offices and spanning just about every industry and sector,” Wray said.

John Brown, FBI Assistant Director for the Counterintelligence Division, said the bureau has already made 19 arrests this fiscal year alone on charges of Chinese economic espionage.

In comparison, the FBI made 24 arrests all last fiscal year, and only 15, five years earlier, in 2014.

https://www-zdnet-com.cdn.ampproject.org/ii/AW/s/www.zdnet.com/a/hub/i/2020/02/09/e7506e05-75db-429a-8438-c48cf2761a1b/china-arrests.png

Image: FBI

Wray said the Beijing government has shown “they’re willing to steal their way up the economic ladder at [the US’] expense.”

Several FBI and DOJ bigwigs were at the conference to hammer the point home for attendees during a four-hour marathon.

US Attorney General William Barr also gave a speech, urging the US and allies to invest in Nokia and Ericssonto counter Huawei’s growing presence on the 5G market, but also teased new charges against Chinese hackers.

Adam Hickey, Deputy Assistant Attorney General; William Evanina, Director of the National Counterintelligence and Security Center; several US district attorneys; presidents and CEOs from US companies; and members from the US’ biggest universities also gave speeches and attended panels to detail their experiences on dealing with China, and to raise a sign of alarm for other US companies and universities.

[SIZE=5]Chinese theft takes place indiscriminately[/SIZE]
US officials said all Chinese theft operations are happening based on an well-established plan handed down from the Beijing government, with areas of interest to target, which the Sino government sees critical to becoming self-sufficient.

“They’re not just targeting defense-sector companies. The Chinese have targeted companies producing everything from proprietary rice and corn seeds to software for wind turbines to high-end medical devices,” FBI Director Wray said.

“And they’re not just targeting innovation and R&D. They’re going after cost and pricing data, internal strategy documents, bulk PII; really just about anything that can give them a competitive advantage,” he added.

“They’re also targeting cutting-edge research at our universities,” Wray said.

Further, Jay Town, US Attorney for the Northern District of Alabama, said the theft attempts don’t happen only in the US big cities and technological centers like Silicon Valley or New York. They happen all over the country, from Alabama to Iowa.

https://www-zdnet-com.cdn.ampproject.org/ii/AW/s/www.zdnet.com/a/hub/i/2020/02/09/b9b3aa0d-391a-4645-b974-a2c08348c337/china-what-to-steal.png

Image: FBI[SIZE=5]Anything goes[/SIZE]

The primary purpose of the conference was to get US companies and the academic sector up to date with all the techniques the Chinese government is using to get their data on US technology.

“China is using a wide range of methods and techniques,” Wray said.

“And I’m talking about everything from cyber intrusions to corrupting trusted insiders. They’ve even engaged in outright physical theft” the FBI Director said.

“They’ve pioneered an expansive approach to stealing innovation through a wide range of actors, including not just Chinese intelligence services but state-owned enterprises, ostensibly private companies, certain kinds of graduate students and researchers, and a whole variety of other actors all working on their behalf.”
More…
FBI is investigating more than 1,000 cases of Chinese theft of US technology

This is a non-issue. Everybody steals tech from everybody

[RiverRoad]

@Purple

By the same token he should ban Chinese university students from studying abroad especially the US, but how else would they steal intellectual property?

How about US not marketing their university education as world class to China?

[patco]

@Sambamba

Heniway to the low IQ bobnobos kabla mkuje hapa hapa na communism nonsense .

I hope one day some ballsy president will ban or at least regulate private schools and hospitals here in Kenya .

TL;DR from a Chinese on some forum has explained it well

This ban achieves 4 major benefits :

[ol]
[li]Levels the playing field for low-income families that can’t afford to put their kids through expensive tutoring[/li][li]Lowers the overall cost of raising a child, promoting higher birth rates[/li][li]Reduces the stress of childhood, no more 996 working hours for kids[/li][li]Eliminates foreign influence in teaching. No more foreign teachers’ online classes, no more foreign textbooks.[/li][/ol]
Just another Gigachad move that demonstrates the power of the CPC. Wiped out 50% stock value of a $100 billion dollar industry overnight. Sure, the shareholders lose, but the people win.

Let’s see which overgrown industry gets the ax next.

–

For those not familiar with the background here:

The private tutoring industry is ginormous in China. Some kids spend more time in private tutoring than then do in actual school. The good teachers often choose private tutoring over public schools because of the huge pay boost.

Parents hate that they have to put their kids through private tutoring, but they have no choice because if they don’t then their kids fall behind their peers who do go through private tutoring.

It’s one of those “Prisoner Dilemma”, Game Theory situations that the free market could never resolve. The state has to step in and just end the game, saving everyone the trouble and the money.

Frankly, this move was long overdue.

You are not very smart. To reply to this comment would require a very long essay as to why Kenyans opt to use private facilities. Suffice it to say I will give the more regular answer : when a govt cannot provide good services, the citizens look for better services elsewhere!

The Kenya govt cant even provide regular power. Kplc prices shoot up willy nilly every other minute. They are a MONOPOLY. Citizens now opt for solar power.

If KNH can’t offer the best care, clean rooms, clean beds… the Aga Khan steps in.

Ideally a govt should not be a business owner. Unfortunately Kenya is still an African socialist state as designed in 1965 sessional paper 10.

The govt of Kenya runs all industries on behalf of Kenyans. They were supposed to devolve and liberalise the market but they refuse to do so. Kenya is run by state owned parastatals. That is why the economy is sluggish and there is little employment.

You look at Nairobi Water. Ideally every estate in Kenya should have a dam and water treatment facility. This should be easy to do, but the govt monopolises water. There is only one water company in a nation of 50 million.

You look at milk , banking… it is state capture.

Look at telecommunications. A nation of 50 million is served by one safaricom owned by state operators!

That is very wrong! The U.S which has a population of 330 million has over 40 major wireless companies who subcontract to hundreds of others thus employing millions of Americans.

The U.S economy is fast because it is liberal. Before Matiang’i came along there were only 8 TV channels all controlled by state operators. Now at least a young person can start a TV station but the financing capital and advertising is state controlled.

The govt of Kenya needs to devolve and let go! They are unable to control transport. KBS died. KQ is dead. A country of 50 million should have several private airlines not one KQ.

Yaani even petrol stations and distribution of LPG gas is state controlled… how can a country grow that way? Uhuru should invest in the youth. Empower them with the money to own Kenya.

Remember Galana Kulalu? Uhuru could easily have given that land to young Kenyan farmers… but no. He brought in Jews because he doesn’t trust young Kenyans.

You look at SGR. Why not invest in Kenyan ideas?

Get a group of young Kenyan engineers let them propose new transport technology and invest in that… I don’t think you understand what liberalization is.

Ford company was started by a citizen.

In Kenya Keroche company is still being attacked by the state! Instead of supporting her they destroy her in favour of the British Diageo!

[patco]

Kenyans don’t understand what DEVOLUTION is because they are still mentally SOCIALIST .

The reason manufacturing is dead is because Kenya is still a SOCIALIST state with the govt controlling everything.

Farmers in Mumias should own their own factories. They shouldn’t rely on a state run cane factory.

Farmers in Rift Valley rely on NCPB which is very wrong. That is where corruption begins.

Kenyan farmers should own their own silos and process their own grains that way they can become INDUSTRIALIST FARMERS.

In the west, the farmer does everything except retailing. They package and own their own shelves in the supermarket. That is a liberal economy.

How can a country of 50 million have one pork processing facility? That is madness.

The whole of Kenya has two beer companies! Madness.

It means that JOBLESSNESS is 100%. It cannot work.

Kenya should have 200 major brewers employing thousands of Kenyans.

The whole country has two tobacco companies. One car battery manufacturer to serve 50 million…

Why send your children to school??? It’s a waste of money. Who will employ them?

[patco]

@Sambamba

Beijing on Saturday published a plethora of regulations that together threaten to up-end the sector and jeopardize billions of dollars in foreign investment. Companies that teach school subjects can no longer accept overseas investment, which could include capital from the offshore registered entities of Chinese firms, according to a notice released by the State Council. Those now in violation of that rule must take steps to rectify the situation, the country’s most powerful administrative authority said, without elaborating.

In addition, listed firms will no longer be allowed to raise capital via stock markets to invest in businesses that teach classroom subjects. Outright acquisitions are forbidden. And all vacation and weekend tutoring related to the school syllabus is now off-limits.

The regulations threaten to obliterate the outsized growth that made stock market darlings of TAL Education Group, New Oriental Education & Technology Group and Gaotu Techedu Inc. They could also put the market largely out of reach of global investors. Education technology had emerged as one of the hottest investment plays in China in recent years, attracting billions from the likes of Tiger Global Management, Temasek Holdings Pte and SoftBank Group Corp.

[INDENT]What Bloomberg Intelligence Says[/INDENT]
[INDENT]“Operating losses at New Oriental and TAL can only worsen over the next several years as China overhauls its tutorial industry. Cost cuts won’t keep pace with revenue declines in the short term as the government, with the stated goal of lightening students’ workload, banned for-profit school tutoring as well as holiday and weekend lessons.”[/INDENT]
[INDENT]-- Catherine Lim, Bloomberg Intelligence[/INDENT]
[INDENT]Click here to read the research.[/INDENT]
In a series of statements over the weekend, all the major education companies said they would comply with the new rules and support the decisions of the party.

In a post on its official Weibo account, TAL said it would “fully implement the party’s education policy” and “strive to cultivate people’s talents with all-around development of morality, intelligence and physical health.”

The regulatory assault mirrors Beijing’s broader campaign against the growing heft of Chinese internet companies from Didi Global Inc. to Alibaba Group Holding Ltd. It stems from a deeper backlash against the industry, as excessive tutoring torments youths, burdens parents with expensive fees and exacerbates inequalities in society.

The out-of-school education industry has been “severely hijacked by capital,” according to a separate article posted on the site of the Ministry of Education. “That broke the nature of education as welfare.”

FOR MORE ON CHINA’S AFTER-SCHOOL CRACKDOWN
[ul]
[li]From Tiger to Temasek, Investors Scarred by China EdTech Assault[/li][li]China Said to Mull Turning Tutoring Firms Into Non-Profits[/li][li]China ADRs Tumble in Longest Rout Since 2019 on Fresh Risks[/li][li]Why China Is Cracking Down Now on After-School Tutors: QuickTake[/li][/ul]

Once regarded as a sure-fire way for aspiring children (and parents) to get ahead, after-school tutoring is now viewed as an impediment to one of Xi Jinping’s top priorities: boosting a declining birth rate.

It’s a stunning reversal of fortune for an industry that once boasted some of the fastest growth rates in the country. Alibaba, Tencent Holdings Ltd. and ByteDance Ltd. were among the big names that have invested in a sector that had been expected to generate 491 billion yuan ($76 billion) in revenue by 2024. Those lofty expectations groomed a generation of giant startups like Yuanfudao and Zuoyebang. Online education platforms attracted about 103 billion yuan of capital in 2020 alone, according to iResearch.

Devised and overseen by a dedicated branch set up just last month to regulate the industry, the rules unveiled Saturday were couched in general terms that could be applied broadly to common practices throughout the industry. The new regulations are focused on compulsory subjects, meaning critical material like math, science and history. Classes for art or music mostly would not fall under the new restrictions.

By submitting my information, I agree to the Privacy Policy and Terms of Service and to receive offers and promotions from Bloomberg.
Among other things, they also ban the teaching of foreign curriculums, tighten scrutiny over the import of textbooks and forbid the hiring of foreign teachers outside of China – a curb that could have severe consequences for startups like VIPKid that specialize in overseas tutors. The government also ordered local authorities to tighten approvals for companies providing training on extra-curriculum subjects.

[INDENT][SIZE=5]New Regulations for China’s Education Sector:[/SIZE][/INDENT]
[INDENT][ul]
[li]Companies and institutions that teach the school curriculum must go non-profit[/li][li]Such institutions cannot pursue IPOs, or take foreign capital[/li][li]Listed companies will be prohibited from issuing stock or raising money in capital markets to invest in school-subject tutoring institutions, or acquiring their assets via stock or cash[/li][li]Foreign firms are banned from acquiring or holding shares in school curriculum tutoring institutions, or using VIEs (variable interest entities) to do so. Those already in violation need to rectify the situation[/li][li]All vacation and holiday cirriculum tutoring is off-limits[/li][li]Online tutoring and school-curriculum teaching for kids below six years of age is forbidden[/li][li]Agencies cannot teach foreign curriculums or hire foreigners outside of China to teach[/li][/ul][/INDENT]
https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i1NJzQN7mHr0/v2/pidjEfPlU1QWZop3vfGKsrX.ke8XuWirGYh1PKgEw44kE/620x-1.png
It’s ultimately unclear how the government clampdown will turn out – many believe Beijing won’t seek to annihilate an industry that still plays an essential role in grooming its future workforce.

For now, many investors may choose to err on the side of caution. The government’s desire to assert control over the economy and one of its most valuable resources lies at the heart of recent regulatory clampdowns on online industries. Companies that operate as internet platforms have come increasingly under scrutiny because of the reams of data they collect, stirring government concern over issues of privacy and security.

Online tutoring agencies will also be forbidden from accepting pupils under the age of six. To make up for the shortfall, China will improve the quality of state-run online education services and make them free of charge, the State Council said.

“All regions can no longer approve new subject-based off-campus training institutions for students in the compulsory education stage, and existing subject-based training institutions are uniformly registered as non-profit institutions,” according to the State Council notice.

Bloomberg - Are you a robot?

The reason ordinary Chinese will remain poor forever is because of this govt interference with the economy. Just like in Kenya everything in China is owned and controlled by the state.

That is not a free market or liberal market. Citizens remain poor forever and ever.

There will never be a Donald Trump story in Kenya or China because that is impossible. Some nobody whose grandfather was a migrant and a generation foward they are billionaire real estate developers running for President… it can’t happen.

Not unless you loot govt like Kirubi i.e steal a whole parastatal bank. Loot kenatco…

[entertainedd]

Meanwhile chinese teachers wanaumia. Bonus lazima irudishwe

https://kenyatalk.com/index.php?threads/teachers-in-china-asked-to-return-bonuses.194667/

Cash-strapped local governments across China are ordering teachers and officials to pay back bonuses as plummeting tax revenues start to bite in the wake of economic damage wreaked by the COVID-19 pandemic, RFA has learned.

https://www.rfa.org/english/news/china/bonuses-07122021142758.html

https://amp.scmp.com/news/china/society/article/3011372/hundreds-teachers-protest-china-over-poor-pay

[kryptony]

@Purple

By the same token he should ban Chinese university students from studying abroad especially the US, but how else would they steal intellectual property?

You is one jealous witch. Hautakii watu hii USA yako aje. Eish chill babe, kumbuka ww ni third world immigrant snatching jobs from white Americans

[Guy004]

@Purple

By the same token he should ban Chinese university students from studying abroad especially the US, but how else would they steal intellectual property?

Whataboutism isn’t healthy - Purple 2021

[uwesmake]

@ndume

It should be imposed in Kenya. Mambo ya watoto kwenda shule 5 a.m and on Saturdays should be banned. During our days, classes used to start at 8.

ile preps ya asubuhi ndio mimi nilikataa kabisaaaaaa

[SaltyLight]

@Purple

By the same token he should ban Chinese university students from studying abroad especially the US, but how else would they steal intellectual property?

They will do it when they are ready. Trust me. Unlike the Americans, they know what is good for the country and they will be willing to do it. Apart from postgraduate studies in STEM subjects, US education is rubbish. The US/Australian/Canadian colleges are becoming increasingly dependent on Chinese money. Once Xi closes the taps, half of the US colleges will file for bankruptcy.