Abstract
In July 2021, The Ministry of Education of the PRC published “Opinions on Further Reducing the Burden of Homework and Off-campus Training for Students in Compulsory Education” (also known as “double reduction policy”), which includes restrictions on after-school training industry, reduction of homework burden, and so on. This essay summarizes the economic impacts of this policy, including impacts on training institutions, employment, distribution of expenditure, and future economy growth based on existed researches. This passage also talks about the effectiveness and timing of the policy and considers loosening the restrictions on smart education industry as an effective measure alongside the “double reduction policy”.
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