Beijing City Fines Online Education Firms For False Advertising

Beijing city has fined four online education agencies 500,000 yuan ($76,988) each for misleading customers with false advertising, the local market regulator said on Sunday.

GSX Techedu Inc (GSX.N), TAL Education Group (TAL.N), Koolearn Technology Holding Ltd (1797.HK) and Gaosi were given the maximum fine for falsely claiming that the price for its online courses before discount was much higher than it actually was, the regulator said.

Earlier this month, the education ministry forbade online education firms from offering minors live-streamed courses and games at night, to ensure children get enough sleep.