Gaotu techedu inc. provides update on regulatory development

Beijing, aug. 19, 2021 /prnewswire/ -- gaotu techedu inc. ("gaotu" or the "company") (nyse: gotu), a leading online large-class after-school tutoring service provider in china, announced that the beijing municipal committee of the communist party of china and the beijing municipality government jointly issued the "beijing municipality's measures to further reduce the burden of homework and after-school tutoring on students in compulsory education in beijing" (the "beijing measures") on august 14, 2021, and published the full text of the beijing measures on august 18, 2021. the beijing measures were adopted to implement the opinions on further alleviating the burden of homework and after-school tutoring for students in compulsory education, published in july 2021 by the general office of the cpc central committee and the general office of the state council of the prc, and aim to ensure that "the excessive burden upon students from school homework and after-school tutoring, the education expenditures from their families and the burden on their parents' energy will be effectively reduced by the end of 2021, with significant impact achieved within two years.
GOTU Ratings Summary
GOTU Quant Ranking