Source: South China Morning PostBeijing’s market regulator has slapped education technology giants Zuoyebang and Yuanfudao the maximum penalty of 2.5 million yuan (US$388,591) each for false advertising and misleading marketing campaigns, as authorities tighten supervision of off-campus learning institutions.The State Administration for Market Regulation (SAMR) said in a notice posted online on Monday that both Zuoyebang, which is backed by Baidu and Alibaba Group Holding, and Tencent Holdings-funded Yuanfudao falsified…Read More