Based on new cloud technology and related learning theories, this article presents a new e-learning model called the collaborative learning cloud to solve the problem of instructor–student imbalance in current e-learning applications, especially in China. The authors conclude that students can receive learning support services according to their needs from the collaborative learning cloud in which other students and instructors are connected with each other as a kind of virtual learning resources. By applying the knowledge modelling technique and the economic model of free market in the collaborative learning cloud, virtual resources can be dispatched in the most reasonable and effective way. This design alleviates the tension between limited instructional resources and too many learning support demands.