New regulations on the education sector:
- Companies and institutions that teach the school curriculum must go non-profit
- Such institutions cannot pursue IPOs, or take foreign capital
- 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
- 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
- All vacation and holiday cirriculum tutoring is off-limits
- Online tutoring and school-curriculum teaching for kids below six years of age is forbidden
- Agencies cannot teach foreign curriculums
