China's education crackdown pushes costly tutors underground

China’s latest campaign to rein in its $100 billion out-of-school education sector was meant to level the playing field for all. Instead, the crackdown is forcing tutors under the radar, making their services even more expensive -- and exclusive.
 

A sweeping overhaul announced last month bans private companies from teaching the school syllabus during weekends and vacations and from making a profit, along with a laundry list of other restrictions. The education technology industry has been left reeling, with more than $18 billion wiped off the combined market value of TAL Education Group, Gaotu Techedu Inc. and New Oriental Education