China’s pre-college, off-campus education market is forecast to reach US$115 billion this year. Photo: Shutterstock
China’s pre-college, off-campus education market is forecast to reach US$115 billion this year. Photo: Shutterstock

Beijing slaps edtech unicorns Zuoyebang, Yuanfudao with steep fine over false advertising

  • The State Administration for Market Regulation imposed a maximum penalty of 2.5 million yuan each on Big Tech-funded Zuoyebang and Yuanfudao
  • The two companies are the front runners in China’s pre-college, off-campus education market

China’s pre-college, off-campus education market is forecast to reach US$115 billion this year. Photo: Shutterstock
China’s pre-college, off-campus education market is forecast to reach US$115 billion this year. Photo: Shutterstock
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