China fines online education firms for misleading consumers

Friday, 21 May 2021 00:00 - - {{hitsCtrl.values.hits}}

Beijing (Reuters): 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 online tutor Zuoyebang was found to be using false advertising while Tencent-backed education technology firm Yuanfudao was found to be using misleading pricing, the regulator said in a statement.

Yuanfudao said in a statement that it has conducted a self-review on its products and has “rectified related misleading tags.” Zuoyebang said it “sincerely accepted the administrative penalty.” Chinese regulators have stepped up efforts to rein in education companies’ excessive advertising and false pricing.

Last month, Beijing local regulators fined four education agencies, including GSX and Koolearn, each 500,000 yuan ($ 77,313.21) for misleading customers with false advertising and pricing.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.