(AF) Chinese education companies and their investors are hoping that “loose wording” in a new law, which has sent their valuations plummeting, will offer ways for the firms to continue operating, the Financial Times reported.
Companies like Gaotu Techedu and New Oriental have been hard hit by last week’s announcement of clamps on their earnings and backers, the report stated. Now they’re banking on the law containing provisions that will enable them to change their business models, spin off parts of their operations or exit the sector profitably, it added. Full story: Financial Times
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