China’s ZJU with the richest alumni gets paid back
China’s richest self-made billionaire couple under 40 have made a RMB 100 million donation to their Alma Mater Zhejiang University on Saturday, on the occasion of its 120th anniversary.   
Wang Qicheng, 37 and his wife, 36, control Shenzhen-listed IT company Hakim Information Technology and has topped the 2016 Hurun Rich List for billionaires under 40. The huge endowment from the couple would be used to set up a specialized development fund and scholarship to promote high-quality education. Wang Qicheng and his wife Wu Yan graduated from the university in 2003 with majors in business administration and advertisement.    
Wang and his wife are among a long list of the university’s alumni to make donations this time. “(We’ve) got many big endowments signed recently, with also many 1 million donations. All these aim to send goodwill,” said Jin Deshui, Zhejiang University’s Party Committee Secretary.  
Shi Yuzhu, the CEO of Giant Interactive, one of China’s most successful online game companies donated RMB 50 million on the same day to help build the new building of the Mathematical Sciences school. Shi graduated from Zhejiang University in 1984 with a major in mathematics.
The huge amount of the two donations from the Wang couple and Shi topped the list. At the beginning of May, Seeking Capital, an alumni company, gave 1.1 billion yuan to Zhejiang University. The money, reportedly the highest alumni donation in China’s history, will be made available over a ten-year period and will be used to set up a special education development fund. 
Seeking Capital, set up by a ZJU alumni in 2015, is a social platform company, which aims to pool resources from alumni, the university, government and society in bid to facilitate innovation and entrepreneurship. 
Based on the alumni special report released by the Hurun Research Institute last November, Zhejiang University boasts the richest alumnus which has beaten China’s top Peking and Tsinghua universities. 
On the same day, the ZJU released its Bluebook of 2017 ZJU Innovation and Entrepreneurship Ecosystem, which surveyed 2,597 alumni who are now controlling or managing 393 public companies, with a total net worth of 6585.64 billion yuan.
Manufacturing, enterprise service, and environmental protection and new energy are the top three industries in which the listed companies are doing business, which the Bluebook attributes to ZJU’s strong science and engineering majors. 
And alumni from the business administration school have occupied most of the management positions in the public companies.


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