The policy also prohibits those businesses from offering classes on weekends, holidays, summer and winter breaks — effectively allowing tutoring only on weekdays with a limited number of hours. The scale of the crackdown is "far beyond expectations," said Alan Wang, an analyst covering education at Beijing-based asset manager Harvest Fund Management. The industry was preparing for some regulations, but it didn't expect an order for restructuring that included a ban on public listings, making the sector basically "not investable," he said in Mandarin, according to a CNBC translation. Some parents will still pay up for tutoring courses they can find, sending costs higher, he added.