Ma, formerly one of China’s most flambouyant entrepreneurs, has largely disappeared from public view since Alibaba’s fintech arm was investigated and fined by regulators for alleged monopolistic practices.
Ma will not hold any high-level title at the restructured organisation, the report said, as Beijing seeks to limit his influence. Viral videos circulating on Chinese social media earlier this month showed construction workers using a blow torch to remove characters on a large “Hupan University” sign.The FT also reported last month that Hupan University was forced to suspend new student enrolments after sustained pressure from Beijing to dismantle Ma’s fintech empire.
Alibaba’s reprimand is widely believed to be triggered by an October speech by Ma where he criticised state financial institutions for being outdated.
I admire his calmness