After-school tutoring booms across China

China's after-school tutoring market is expected to double its current revenues within five years, an industry report shows.

According to a new report on China's education sector by UBS Securities, China's kindergarten to grade 12 after-school tutoring market has been booming and will rise from revenues of 497 billion yuan ($75 billion) in 2016 to 1,082 billion yuan in 2021.

"The K-12 after-school tutoring sector will become one of few sectors with potential to double its size in five years and likely above market expectations," said Edwin Chen, executive director and co-head of Asia Small/Mid Caps Research of UBS Securities Co Ltd.