Monday, 24 May 2021 03:50 PM MYT
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. In a series of blows for the group, Alibaba was fined a record 18.2 billion yuan by antitrust authorities last month, and its fintech arm Ant Financial has been ordered to restructure its business after a planned listing was scuppered.