A Chinese authority has fined four online education firms for false advertising amid a crackdown on online education, the South China Morning Post has reported.
The firms fined on Sunday are TAL Education Group, Hong Kong-listed Koolearn Technology Holding, Beijing-based Gaosi Education Group, and New York-listed GSX Techedu.
The Beijing Municipal Bureau of Market Supervision charged each of them with misleading consumers with false advertising. The four companies used “false or misleading pricing methods to trick consumers into trading with them” and were fined ¥500,000 yuan (£55,600) each for breach of China’s price law.
In a statement the regulator said: “Recently, the bureau organised special inspections for off-campus education after we received many complaints in this sector. We will continue to strengthen the enforcement of the industry in the next step and to safeguard the interests of the people.”
Date published: 27 April 2021