How China’s Education Firms Survived the Crackdown

Chinese education stocks have earned a gold star in 2023: an unexpected, albeit partial, comeback after Beijing’s brutal regulatory crackdown beginning in 2021.

Chinese stocks have had a difficult year, with the MSCI China Index down nearly 14%. But education stocks are a different story: Shares of New Oriental Education & Technology have more than doubled this year while those of TAL Education have risen 58%.