Chinaâs education sector crackdown hits foreign investors
The changes are part of the Chinese Communist Partyâs drive to make raising children and education more affordable.
Ryan McMorrow and Sun Yu in Beijing and Tabby Kinder and Thomas Hale in Hong Kong
Jul 27, 2021 â 2.11pm
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Chinaâs sweeping overhaul of its $US100 billion ($135 billion) private education industry will eliminate foreign investors from much of the sector and threatens to wipe out billions of dollars of investment from groups such as BlackRock, Baillie Gifford, Tencent, Sequoia and SoftBankâs Vision Fund.
The regulations will ban companies that teach school curriculum subjects from making profits, raising capital or listing on stock exchanges worldwide, and will prevent them from accepting foreign investment.
Hong Kong, China shares battered by regulation fears; yuan drops
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UPDATE 2-Hong Kong, China shares battered by regulation fears; yuan drops
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