Chinese regulators to off-campus education (incl edtech): "We know your stocks are falling, but tough cookies - you are putting too much pressure on parents and are detrimental to on-campus education, so we're restructuring this industry permanently." 1/12 http://finance.people.com.cn/n1/2021/0801/c1004-32177023.html …
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The macro picture: China's population is aging rapidly. When China announced it wanted people to have more kids, society responded: "How are we supposed to have do that when the burden of educating children is so high?" This is part of a mitigation effort. 9/12
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There's still room for off-campus ed: Policymakers want the industry to move towards enrichment activities. The article praises companies which have launched programs in specific extracurriculars such as sports, music, dance, art, and STEM. Adult education also OK. 10/12
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While the tutoring craze is indeed out of control, and both kids and parents are under pressure, the key problem is that China's education system is incredibly competitive, and this policy doesn't solve the problem - parents will still seek to give their kids a leg up... 11/12
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...which policymakers are also aware of: "Figuring out how to balance the relationship between in-school education and off-campus tutoring will require a joint effort by the whole of society to solve the problem. We still have a long way to go." 12/12
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