The Business Education Development Fund is officially launched in Hunan University on the afternoon of April 24, 2012. As the first fund of its kind in Hunan province, it has so far raised 3.6 million yuan, mainly from Huazhu Business Administration Educational Fund set up by alumni of Hunan University Hu Kang, and subsidies for EMBA and MBA, and so on.

According to the person in charge of the fund, the funds will be mainly granted to outstanding teachers and students to promote scientific researches and international exchanges, and to education programs and poverty-stricken students. It aims to enhance the teaching and researching quality of teachers, improve the effect of studying and cultivate high-quality business talents.

Tang Yayang, deputy secretary of Party Leadership Group of Hunan University, stated that the fund not only offers financial assistance to poor students, but also helps young teachers initiate researches. He also hoped that with the fund, the college will cultivate more innovative students. As one of contributors to this fund, Mr. Hu Kang said that the fund was an opportunity for him to make contribution to the development of his Alma Mater and the society.