The Chinese Communist Party is regulating the nation’s real estate sector to ensure that families can afford housing.
The move comes days after the Chinese government unveiled new regulations for the nation’s $120 billion private tutoring industry, which authorities believe will decrease costs for families. Chinese parents routinely seek tutoring services throughout children’s primary and secondary education — by some estimates, between $17,400 and $43,500 per year — to prepare them for the National College Entrance Examination, which determines eligibility for undergraduate education.
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