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China fines online education firms for misleading consumers

05/09/2021 22:04
China fines online education firms for misleading consumers

- China's market regulator said on Monday it fined online education startups Yuanfudao and Zuoyebang 2.5 million yuan ($388,754) each for misleading consumers.

Alibaba-backed BABA.N online tutor Zuoyebang was found to be using false advertising while Tencent-backed 0700.HK education technology firm Yuanfudao was found to be using misleading pricing, the regulator said in a statement.


($1 = 6.4308 Chinese yuan renminbi)


(Reporting by Yingzhi Yang and Tony Munroe in Beijing; Editing by Kim Coghill)

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