Zhejiang University – Dr. Xiaobo Wu, Professor of Management, Vice Dean
Hangzhou was the first city we visited outside of the Chinese capital Beijing. One thing that I quickly noticed was the special lanes for two-wheelers.
Zhejiang University is one of the oldest universities established in China. It receives a third of its grants from the government and the remaining two-thirds from corporate sponsorships. This is opposite of other big school in China where most of the grants come from the government. Prof. Wu spoke about the rising private economy and entrepreneurship. These points reemphasized what we had already heard about from the previous speakers last week.
Another topic that was discussed was the entry of foreign players in the Chinese economy. Infotech companies such as Infosys and Tata are located in Hangzhou. Some South Korean companies (or other foreign companies) are coming into China and disrupting the local economy. Thus eventually, this is going to be a hot bed for M & A activities in the near future.
After the presentation, we were given an aerial tour of the campus. No wonder Zhejiang University is ranked one of the Top 5 Universities in China. We had lunch at the university restaurant with current MBA students. The interaction provided a glimpse in the lives of these students and provided some understanding of the educational system in China. The students joined us for a boat trip to West Lake. I got to talk to a student named Richard and was able to find out about the lives of the prince and princesses that these students have grown to be. The one child policy has created some social elements that might come back to haunt the policy-makers.
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