In the U.S., if regulators get annoyed with for-profit education companies, they will do things like mandate additional disclosures or fiddle with the eligibility requirements for federal student loans. In China, when regulators got annoyed with for-profit education companies, they told them to become non-profits. “You can keep doing your business, but you can’t make any money from it anymore.” If you are used to the U.S. system it just seems wild.