CnTechPost CnTechPost
  • News
    • Tech
    • Gadgets
    • Software
    • Stocks
    • Crypto
  • Contact
  • About
  • CnEVPost
  • News
    • Tech
    • Gadgets
    • Software
    • Stocks
    • Crypto
  • Contact
  • About
  • CnEVPost

Education stocks soar with reports that China will resume after-school tutoring

Phate Zhang Nov 8, 2021 19:20 GMT+8

Shares of US-listed education companies jumped in pre-market trading, with the latest reports suggesting they are set for new life.

China is considering issuing more than a dozen licenses to allow companies to offer after-school tutoring, the WSJ said today, citing people familiar with the matter.

Companies including Gaotu Techedu and Yuanfudao have held discussions with regulators in recent weeks about allowing them to resume offering tutoring services to students in ninth grade and below, according to the report.

Under the new licensing arrangement, tutoring companies would be required to operate out-of-school training on a nonprofit basis but would be allowed to profit from other businesses, such as providing professional exam training to adults, the report said.

The government would cap the fees these companies could charge for each class, according to the report.

Gaotu Techedu jumped 30 percent in pre-market trading after the report, while New Oriental rose nearly 30 percent and TAL Education gained more than 20 percent.

Education stocks soar with reports that China will resume after-school tutoring-CnTechPost

Education stocks soar with reports that China will resume after-school tutoring-CnTechPost

#Policy
0
Avatar photo
Phate Zhang
Phate is the founder of CnTechPost and the main author of the site. He has been reporting in Chinese and English since 2009, focusing on macroeconomics and capital markets. He is also a tech enthusiast, and it is his interest to follow tech industry developments.
Recent Posts
  • Chinese video platform iQIYI reportedly to lay off 20-40% of its workforce Dec 1, 2021
  • Xiaomi's MIUI surpasses 500 million monthly active users worldwide Nov 24, 2021
  • Education stocks soar with reports that China will resume after-school tutoring Nov 8, 2021
  • Huawei posts sales revenue of about $71.3 billion in first 3 quarters Oct 29, 2021
  • MSMEs call for stronger women empowerment on digital transformation Oct 25, 2021
  • Home
  • Tech
  • Stocks
  • Gadgets
  • Software
  • Crypto
  • Cars
  • About
  • Contact Us
  • Privacy Policy
Copyright © 2023 CnTechPost. Designed by CnTechPost.