Another Round of Regulatory Action Sends China ETFs Reeling July 26, 2021 The selloff in China country-specific exchange traded funds intensified Monday after Chinese regulators continued their crackdown on the technology sector, notably companies that engage in online and in-person education. On Monday, the Among the hardest hit Chinese companies in the latest crackdown, the New Oriental Education & Technology Group Inc. (EDU) plunged 31% Monday after plummeting 47% in Hong Kong trading, further adding to a steep falloff in the previous session, the Wall Street Journal reports. Triggering the Monday selling, state media announced a severe curtailing of after-school tutoring was planned over the weekend. Additionally, Chinese regulators ordered Tencent to relinquish exclusive music licensing rights.