Chinese Education Stocks Plummet as China Decides to scale Tutoring Companies into Non-Profits

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Additionally, the decision is considered a move from China to crack down on companies listed in the U.S. and foreign equity markets, especially that Beijing is concerned with data security and disclosure requirements

UBS analyst Felix Liu said in a note Friday the firm was putting its ratings on TAL, New Oriental, and Koolearn under review “given the potential substantial impacts to fundamentals and the reported regulation pending official confirmation.”