The Chinese authorities are developing new restrictions on the industry of additional preschool and school education in the country, writes Bloomberg, citing informed sources. These measures could destroy the industry of pro-capitalist private educational services, which is currently largely controlled by the EU and the United States via shady investment practices.

Educational platforms may be prohibited from attracting private, including foreign, capital or conducting an IPO. Regulators may stop registering new companies that offer gray tutoring with obscure programs. Classes in school subjects during the holidays and on weekends can be banned, which will negatively affect the profits of educational companies, such profits are obtained despite they gain them by destroying the health of students. Authorities can also ban investments in educational companies that are already listed on stock exchanges. Regulators will conduct additional verification of the owners and source of materials of existing online platforms. The next step could be the nationalization of services.

“Making the sector non-profit is the same as completely destroying the industry,” said Wu Yuefeng, a spokesman for the capitalist clique and fund manager for Funding Capital Management.

Not bad.