Chinese regulators on Monday banned tutoring companies from making profits, a move that sent their shares plummeting, erasing tens of billions of dollars from the value of the country’s once blistering education sector, as Beijing turns its focus to the growing financial burden that students — and their parents — face.Some of China’s biggest publicly listed education companies lost significant chunks of their value as investors ditched them following the announcement of rules that require all companies that offer curriculum tutoring to register as nonprofit institutions.The rules will also restrict new foreign investment, once a key avenue for …
