(Bloomberg) -- China said companies that offer tutoring on the school curriculum cannot go public or raise capital from listed companies, imposing a new set of constraints in education tech industry.

“All regions can no longer approve new subject-based off-campus training institutions for students in the compulsory education stage, and existing subject-based training institutions are uniformly registered as non-profit institutions,” according to a notice released by the State Council on Saturday.

It also banned companies that offer tutoring on the school curriculum from receiving investment from overseas capital, putting a rapidly-growing education market out of reach from global investors.

From Tiger to Temasek, Investors Scarred by China EdTech Assault

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