Chinese domestic news outlets have recently reported the closure of Alibaba‘s social science research institution, “Luohan Academy”. In response to these rumors, an Alibaba spokesperson stated on Monday that the company’s focus and investment in digital economic innovation have never diminished. As the 1+6+N organizational reform continues to progress, there have been adjustments in Luohan Academy’s organizational structure. The research on digital economy and Luohan Academy’s research ecosystem will continue under the auspices of Luohan Institute for Digital Economy Research. “Luohan Academy and its brand will continue to exist”, said Alibaba.
Luohan Academy was established in Hangzhou in June 2018, initiated by Alibaba Group Holding Limited and supported by top scholars from various fields such as sociology, economics, psychology, etc. According to Alibaba, the first academic committee of Luohan Academy consists of fifteen members mainly composed of economists, including six Nobel laureates in economics.
Alibaba‘s founder Jack Ma once expressed his hope for institutions like Hupan University, DAMO Academy and Ma Yun Education Foundation to exist longer than Alibaba itself. With the announcement of Luohan Academy’s initiative, Ma said that he hoped Luohan Academy would also exist for 300 years.
SEE AlSO: Self-Driving Business of Alibaba’s DAMO Academy Merged into Cainiao
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