The Chinese Football Association "regrets" the decision by Chinese Super League champion Jiangsu FC to cease operations but will continue to seek to develop the game in the world's most populous nation.
The Suning Group, which bought Jiangsu in late 2015 and also owns Italian league leader Inter Milan, announced on Sunday the Chinese champion would cease operations with immediate effect.
"The Chinese Football Association regrets the suspension of operations issued by Jiangsu FC but respects the club's decision," the national body said in a statement.
"Jiangsu football has had a glorious history and, since its takeover in 2015, the Suning Group has contributed tremendously to football development in general. The Chinese Football Association appreciates this effort.
"The Chinese Football Association will work towards implementing the China Football Reform and Development Plan to continue its reforms, with an emphasis on strengthening youth development, improving the professional league and uniting all the forces around Chinese football to keep fighting for Chinese football."
The announcement came with the new Chinese Super League season expected to start next month and four months after the Cosmin Olaroiu-coached club defeated eight-time champion Guangzhou Evergrande in a playoff to claim its first-ever league title.
Suning's decision affects all of the company's China-based clubs, including the Jiangsu Suning Women's team, which won the Chinese Women's Super League title in 2019.
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