Harsher curbs imposed by China on private tutoring and online education companies, like TAL Education Group, has shaken investors confidence in the sector. — AP Photo
Global investors from Tiger Global Management to Temasek Holdings Pte are reeling after China imposed the harshest curbs yet on its US$100bil (RM422.35bil) private tutoring and online education sector.
China on Saturday ordered companies that offer tutoring on the school curriculum to go non-profit, potentially wiping out a big chunk of the billions that private equity and venture capital funds have staked on a once red-hot sector.
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