Zhitong Finance APP learned that recently, the Ministry of Education replied to the proposal on promoting the healthy Development of civilian-run Education, which mentioned that according to the Law on the Promotion of Private Education, operators of private schools can choose to set up non-profit or for-profit private schools. However, it is necessary to set up for-profit private schools that implement compulsory education. The answer is clear that non-profit private schools enjoy the same treatment as public schools, and after determining the tax exemption qualification in accordance with the provisions of the tax law, they are exempted from enterprise income tax on non-profit income.

Hong Kong education stocks exploded across the board. As of press time, Tianli Education (01773) rose 27.08% to HK $7.65, Chengshi Foreign Education (01565) rose 17.24% to HK $2.38, Hope Education (01765) rose 14.29% to HK $2.16, and Yuhua Education (06169) rose 13.16% to HK $6.88.