The enrollment halt comes as the latest step to date in China’s crackdown on Ma’s multiple businesses and his business empire after he made comments in public criticising Beijing’s financial regulators.
Since his comments were made Ma has not made a public appearance, except for a brief 50-second video clip broadcast to a group of teachers.
His whereabouts and activities have led to speculation worldwide as to the level of control China has over his once hugely successful businesses and the man himself.
Late last year Ant Group, a financial affiliate of Alibaba, abruptly suspended a planned $37 billion IPO in Shanghai following pressure from the authorities in Beijing.
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, Jack Ma had committed himself to the education sector which prompted him to open the school.
Where his plans go from here remain to be seen.
This article first appeared in the NFA Post and is republished with permission
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