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. Published: 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 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.