Want to read Slashdot from your mobile device? Point it at m.slashdot.org and keep reading!

 



Forgot your password?
typodupeerror
×
China Education Technology

China Considers Turning Tutoring Companies Into Non-Profits (bloomberg.com) 34

China is considering asking companies that offer tutoring on the school curriculum to go non-profit, Bloomberg News reported Friday, citing people familiar with the matter, as part of a sweeping set of constraints that could decimate the country's $100 billion education tech industry. Shares sank. From a report: In rules currently being mulled, the platforms will likely no longer be allowed to raise capital or go public, the people said, asking to not be identified because the information is not public. Listed firms will also probably no longer be allowed to invest in or acquire education firms teaching school subjects while foreign capital will also be barred from the sector, one of the people said. Local regulators will stop approving new after-school education firms seeking to offer tutoring on China's compulsory syllabus and require extra scrutiny of existing online platforms, the people said. Vacation and weekend tutoring on school subjects will also be banned, they said. Changes may still occur as the rules haven't been published.
This discussion has been archived. No new comments can be posted.

China Considers Turning Tutoring Companies Into Non-Profits

Comments Filter:
  • education needs to be non-profit as the profit one really pumped up the Student loans. But I don't think China has that.

    Also teach / cram the test is an bad idea.

    • Cheap loans backed by the government was the problem, not profit in itself. Kind of like the home mortgage crisis.

    • The difference between for-profit and non-profit/not-for-profit is not that one can make a profit and the other can't. The non-profit/not-for-profit entity still has to take in more money than it pays out, to keep from going out of business. The difference is that the non-profit/not-for-profit is not allowed to distribute profits to the owners: it is REQUIRED to plow the money back into the business of the entity. For educational institutions, this is where they get funds to build and equip new buildings

  • by ebonum ( 830686 ) on Friday July 23, 2021 @09:39AM (#61611527)

    Investors become "employees". "Top" "employees" make a few million a year - salary, not "profits" or "dividends". Problem solved.
    For a final touch, maybe put a top local politician on your board of directors. And make sure board seats are very well compensated. Plus, there are lots of way around the "no more than x% of funds can go to overhead" rules.

    (I'm trolling here: There might be a few ex Clinton Foundation employees who know how to funnel large sums of money through a no-profit to key individuals who could offer advice on how to set this up!)

    • The story is basically, "won't someone think of the children". Political themes are universal.

    • And then the government cracks down again. Really I can't even keep up with how quick they want to destroy capitalism over there. You'd think the big success story of capitalism in the past 30 years would know better. But at this rate all the wiggle room people have is going to run out sooner rather than later.
  • "I don’t know about you guys, but, um, you know, I’ve been thinking recently that that you know, maybe, um, allowing giant digital media corporations to exploit the neurochemical drama of our children for profit"

    "You know, maybe that was, uh a bad call by us."

    "Maybe maybe the the flattening of the entire subjective human experience into a lifeless exchange of value that benefits nobody, except for, um, you know, a handful of bug-eyed salamanders in Silicon Valley"

    "Maybe that as a as a way of lif

Don't tell me how hard you work. Tell me how much you get done. -- James J. Ling

Working...