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China's tutoring groups fined millions as scrutiny grows | Bangladesh Sangbad Sangstha (BSS)

China’s tutoring groups fined millions as scrutiny grows
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BEIJING, June 1, 2021 (BSS/AFP) – Fifteen tutoring firms have been hammered with millions of dollars of fines over alleged fraud, Chinese state media said Tuesday, as the government’s chastening of the tech sector seeps into the private education businesses.
The groups, including major brands like Zuoyebang, which counts Alibaba as an investor, and Tencent-backed Yuanfudao, were hit with fines amounting to 36.5 million yuan ($5.7 million).
After issuing fines and warnings to tech companies spanning e-commerce, gaming, video streaming and food deliveries, Beijing has in recent days turned its attention towards tutoring start-ups, many of them online. ....

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Strict regulation puts brake on China's $75b online education sector

SOURCE / ECONOMY
Shares sink, layoffs loom amid tightening regulation
By GT staff reporters Published: May 31, 2021 07:23 PM
A student in Beijing Jinyuan School puts his mobile phone into the safe deposit box installed in the classroom on March 1, the first day of the new semester.Photo: Li Hao/GT
Some of China s K-12 online education providers have stopped hiring and some have even been reportedly cutting staff, as tightened regulation puts the brakes on the country s burgeoning and lucrative private tutoring market valued at over $75 billion.
Tightening regulatory scrutiny of online education platforms is part of China s national push to tackle what have been described as chaotic market operations as well as to ease burden on students. While causing immediate effects on the industry, the efforts will ensure long-term healthy development, analysts said. ....

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CX Daily: Is Global Inflation About to Take Off?

CX Daily: Is Global Inflation About to Take Off?
Inflation /
Factories around the world
are facing headwinds from surging commodity prices, rising shipping costs and semiconductor shortages, fueling worries that global inflationary pressures are looming as major economies recover from pandemic lockdowns.
In China, factory gate prices have climbed at an accelerated pace in recent months. The
producer price index (PPI), which gauges changes in prices of goods circulated among manufacturers and mining companies, rose 4.4% year-on-year, in March, the fastest growth since July 2018. The trend further strengthened in April as prices of coal, steel, cement and glass all increased significantly. ....

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China fines online education firms for false advertising

China fines online education firms for false advertising
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China to strengthen online education and gaming restrictions for minors

China to strengthen online education and gaming restrictions for minors
05 Apr 2021 / 14:36 H.
China steps up efforts to regulate the online gaming industry, citing concerns over violent and addictive games. Reuters
BEIJING: China’s Ministry of Education will strengthen rules to protect children’s sleep by limiting online education and gaming services, it said on Friday.
In a statement on the ministry’s website, it said that online education companies should not offer minors live-streamed courses after 9 pm.
The ministry also said that companies should not provide minors with online gaming services between 10pm and 8am.
“Sleeping is essential to promote brain development, bone growth, vision protection, physical and mental health, and improve learning ability and efficiency of primary and secondary school students,“ it said. ....

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