(Reuters) - Unirule Institute of Economics, a Beijing-based think tank advocating free market policies, “will cease public activities under its name temporarily”, its parent company said.
Beijing Unirule Consulting Co Ltd said bit.ly/2BwSir1 on Monday its license was revoked after the company received an "Administrative Penalty Notice" on Oct. 22.
The think tank will cease operations “unless normal protection by the Constitution and laws is confirmed”, according to the statement, which adds that the company’s shareholders decided late last month to form a working team to begin liquidating the company.
The think tank’s parent company said it did not accept the penalty and will seek to apply for reconsideration and take legal steps to request that the penalty be lifted.
Reporting by Kanishka Singh in Bengaluru; Editing by Ken Ferris