Jack Ma’s founded Hupan University, now known as the Hupan Research Center, has recently started recruiting entrepreneur students again, attracting attention to his “return” as he frequently appears at the Alibaba campus, inquiring about artificial intelligence and local life businesses.
Scholars believe that Jack Ma’s current role is more like a strategic consultant, while Alibaba employees express feeling both pressure and anticipation after his frequent presence. Analysts point out that this involvement not only signals internal adjustments within the company, but also reflects a readjustment of the Chinese Communist Party’s policies towards private enterprises amid increased competition and economic downturn.
In September 2025, the Hupan Research Center released its latest enrollment brochure, announcing its reopening after four years of silence and planning to officially start classes in March 2026.
According to reports from Phoenix Technology and Sohu Technology, the brochure indicates that applicants must be the “number one person (CEO)” of a company that has been established for at least 3 years, with a team of no less than 30 people, annual revenue exceeding 30 million yuan for three consecutive years, while also aligning with the values and mission vision of Hupan. The enrollment concept continues the tradition of “learning through practice” and “dual cultivation of personnel.”
Mr. Shen, a scholar in Zhejiang who has long been focused on corporate education, told reporters on September 24th that the revival of Hupan University indicates the Chinese authorities’ inability to revive the declining economy, and their hope for Jack Ma to intervene in Alibaba’s development, suggesting that this enrollment may be one of the conditions for Jack Ma’s “return.” He stated, “This enrollment standard continues the elite nature of the past, as Hupan is not targeting ordinary entrepreneurs but emphasizes selecting entrepreneurs with a certain scale and sense of social responsibility. This also aligns with Jack Ma’s original intention when founding the school.”
In Mr. Shen’s view, this enrollment method is not only about cultivating talents but also about rebuilding an entrepreneur community through resource aggregation, which is the resource needed by the authorities to save the economy and requiring Jack Ma’s help to overcome difficulties.
Established in 2015, Hupan University, publicly known for its founders including Jack Ma, Feng Lun, Guo Guangchang, and Shi Yuzhu, set out to create a “Whampoa Military Academy” for Chinese entrepreneurs and proposed a vision of “doing 300 years.” The enrollment process at that time was extremely stringent – including three rounds of interviews, overseen by Jack Ma, and a tuition fee of 280,000 yuan. From 2015 to 2019, it recruited more than 200 individuals over 5 terms, with over 11,700 applicants and an acceptance rate of around 2%.
Mr. Shen remarked, “When entrepreneurs like Jack Ma initially proposed their 300-year aspiration, they did not expect to be halted after just a few years, and Jack Ma was also ‘expelled.’ This time, Jack Ma’s return indicates that their backup team could not find a replacement for Jack Ma.”
In 2021, the Chinese Ministry of Education and eight other departments issued an opinion regarding the regulation of the use of “university” and “college” names in registrations, prohibiting private institutions from casually using the terms. Consequently, Hupan changed its name and temporarily stopped admissions. Previously, participation from Jack Ma and other entrepreneurs brought a celebrity effect, along with controversies over the “entrepreneur aggregation” and the suspension of Ant Group’s IPO, causing Hupan to enter a “quiet period.”
Some scholars view the relaunch of Hupan University as a signal that the platform economy consolidation phase has ended and private enterprises are once again being valued. Ms. Liu, a scholar from Tsinghua University in Beijing, told reporters recently that entrepreneurs are a rare innovative force, acting as resource integrators, risk-takers, innovation leaders, and era drivers; under the premise of aligning with policy orientation and creating social value, Hupan’s return carries practical significance.
A scholar from Guizhou who focuses on corporate education emphasized that Hupan University’s enrollment standards continue the elite nature of the past, not targeting ordinary entrepreneurs but selecting entrepreneurs with a certain scale and social responsibility. He pointed out that the authorities are most concerned about entrepreneurs forming groups, stating, “Some are worried that in his ‘acting as a teacher’ teaching style, Jack Ma is bringing together and fostering his circle and power; under the Communist Party system, the formation of an entrepreneur alliance may affect or even sway the authorities.”
However, recent signs indicate a change in the situation. According to Bloomberg and several media reports, Jack Ma has appeared frequently at the Alibaba campus over the past few months, particularly focused on artificial intelligence and local life services businesses. An Alibaba old-timer told reporters, “He directly asks, ‘How far along is the AI development?’ ‘Can the subsidy strategy truly drive the market?’ We feel like we are back to the early days of entrepreneurship. However, the company has not announced Jack Ma’s return, but the management all listens to him.” The employee expressed that this is their personal perception, and the company has not made an official statement on this matter.
This employee mentioned that Jack Ma’s presence has made many colleagues feel both pressure and anticipation, considering his return as a form of spiritual leadership.
Observations show that Alibaba is currently undergoing a critical business restructuring phase. According to public information and media reports, in the field of artificial intelligence, Alibaba has intensified the development and commercialization of large models, ranging from cloud computing to e-commerce search, intelligent customer service, among others. An industry insider revealed that Jack Ma closely inquires about progress in work procedure reform internally.
Understanding in Chinese academic circles is more restrained. A corporate governance researcher from a university in Shanghai believes that at Alibaba, “Jack Ma’s role is closer to that of a strategic consultant or spiritual leader, rather than an actual decision-maker. His involvement leans more towards guidance in direction and values, rather than direct decision-making as before. Alibaba’s current governance structure is more diverse.”
Securities analysts interpret Jack Ma’s “return” from a market and macro perspective, stating, “Alibaba needs a new narrative to stabilize capital markets and employee morale, and Jack Ma’s involvement also means that Alibaba must comply with policy directions by closely integrating AI technology, digital economics, and physical economics.”