Jack Ma suffers another setback in building Hupan University’s Yunnan branch

Since the ipo of Ant Group, a subsidiary of Alibaba, was halted, things seem to be going badly for Mr Ma. Recently, the construction project of hupan University, which he founded, in Kunming, Yunnan province, also hit obstacles.

Hupan University in Yunnan has suspended its bidding due to planning changes, beijing-based Newspaper Multidimensional News reported today (December 16).

On December 10, the general coordination Office of the headquarters for land expropriation and demolition in the West bank area of Dianchi Lake in Kunming, Southwest China’s Yunnan Province, announced that the control detailed planning project for the White Fish Mouth area in the West Mountain area would be terminated due to the adjustment of the area’s control planning scope, the report said.

Previously, the bidding information of Hupan University in Yunnan showed that the planned area of the project is Baiyukou area, with a total area of about 1,281 hectares, including 903 hectares of construction land and 378 hectares of agricultural and forestry land and water area.

According to public information, Hupan University, headquartered in Hangzhou, Zhejiang province, was founded in 2015 by nine entrepreneurs and famous scholars including Jack Ma and Liu Chuanzhi, with Jack Ma as the first president.

Since the first opening ceremony was held on March 27, 2015, seven classes of students have been enrolled.

Lakeside requirements: applicants must be decision-makers who have been in business for at least 3 years; Annual revenue of over 30 million; 3 years’ tax payment certificate shall be provided, and the size of the company exceeds 30 persons; There will be three referees, at least one of whom will be appointed by Lakeside University.

Ma has revealed that 11,788 students have applied since its inception, but only 254 have been accepted, giving the school an acceptance rate of only 2 percent. He says he hopes to train no more than 3,000 entrepreneurs over the next 30 years.

On August 25 this year, Kunming Municipal Government and Zhejiang Hupan University Entrepreneurship Research Center signed the framework agreement on the project cooperation of Hupan University yunnan Branch in Kunming.