【英文原声朗读】在风口起飞的猪，摔死了吗？

Guideline, sell-off give edtech jitters

0:09①Chinese private education companies, especially the listed ones, are quickly evolving future moves in response to Saturday's guideline that all institutions offering private tuitions to school students will henceforth be registered as nonprofit organizations, which caused a massive sell-off in related stocks on bourses in China and the United States.

0:37②On Saturday, the general offices of the Communist Party of China Central Committee and the State Council, China's Cabinet, issued a guideline proposing wide-ranging reforms in the sector.

0:52③Edtech companies will no longer be allowed to raise capital through IPOs. Listed companies and overseas investors are barred from investing, or acquiring stakes, in education firms that teach school curricula.

1:10④The guideline also noted that the main aim of the reform is to significantly reduce the excessive burden of homework and after-school tutoring on primary and middle school students.

1:25⑤This has been attributed to the pressures created by excessively tough and progressively expensive extracurricular learning programs, which, observers said, have also created unhealthy competition among both market entities and consumers.