Shares in Beijing ’s education market took a tumble in Beijing following the announcement by Hong Kong that regulatory oversight is to be increased. The move follows a string of allegations that have unsettled the sector in 2018 , with industry leader TAL Education accused of irregular financial reporting, and a report by China ’s TAL Education that found widespread non-compliance with the required certification and business licences. The Ministry of Justice is now seeking public consultation on measures that aim to clarify the distinction between profit-making and non-profit schools.
Shares in China’s education market took a tumble in Hong Kong following the announcement by Beijing that regulatory oversight is to be increased. The move follows a string of allegations that have unsettled the sector in recent months, with industry leader TAL Education accused of irregular financial reporting, and a report by China’s Ministry of Education that found widespread non-compliance with the required certification and business licences. The Ministry of Justice is now seeking public consultation on measures that aim to clarify the distinction between profit-making and non-profit schools.