The Chinese authorities have halted enrollments of an elite business school backed by Jack Ma, Founder of Alibaba Group Company Limited.
The enrollment halt comes amidst China’s crackdown on Ma’s businesses after he made comments in public criticising Beijing’s financial regulators.
Since then, Ma has not made a public appearance, except for a brief 50-second video clip broadcast to a group of teachers.
Late last year Ant Group, a financial affiliate of Alibaba, abruptly suspended a planned $37 billion IPO in Shanghai following pressure from the authorities.
Hangzhou-based Hupan Academy has suspended a first-year class set to begin in late March.
After stepping down from his role as Alibaba’s chairman in 2019, Ma had committed himself to the education sector which prompted him to open the school.
