China’s offline tutoring firms decrease by 40%: Ministry of Education
China’s Ministry of Education (MOE) said the number of Chinese offline educational tutoring firms has declined by 40 percent since authorities introduced sweeping measures to regulate private tutoring industry in July, CCTV reported on Monday.
Forty percent of the previous 128,000 domestic offline tutoring firms were squeezed out of the market and among the 263 online tutoring firms, nearly half of them were closed by now, the MOE revealed.
According to the monitor of MOE, the private tutoring sector experienced a rapid fall in demand since the implementation of the regulations. Related commercials were hardly seen and investors withdrew their capital, which effectively restricted the wild growth of the industry.
The MOE vowed to transform all private educational tutoring firms into non-profit institution by the end of 2021 and enhance industry monitoring.
Source: Global Times