In a blow to the edtech sector, China orders tutoring companies teaching the school curriculum to go non-profit, bans them from IPOs and raising foreign capital (Bloomberg)

Bloomberg:
In a blow to the edtech sector, China orders tutoring companies teaching the school curriculum to go non-profit, bans them from IPOs and raising foreign capital  —  - After-school tutors can't raise capital or float shares  — Sweeping curbs will up-end a once-thriving, big-money sector