HONG KONG -- China's market regulator has reportedly fined 15 after-class tutoring schools a total of 36.5 million yuan ($5.7 million) for false advertising and price fraud, signaling an attempt to ease the cost of education for families as the country tries to boost its birthrate.
Tencent-backed Yuanfudao and Alibaba-backed Zuoyebang, as well as established players New Oriental Education & Technology Group and TAL Education Group, are among the companies hit with fines, the state-run People's Daily reported.
