Chapter 507 Bottomless Pit of Funds

"Who?" the principal asked instinctively.

"Teacher Wang Ziwei."

"Teacher Wang Ziwei? Well, Teacher Wang Ziwei is the esteemed daughter of the Wang family in the capital. Her connections are indeed formidable. However, the true extent of the Wang family's influence in the capital remains to be seen," the principal retorted.

"Please don't worry about that. Although none of us know the exact extent of the Wang family's power in the capital, I can guarantee that the Wang family's influence helped Jiangcheng University of Technology upgrade to a 211 key university. Their influence is undeniable," Chen Feng stated with conviction.

"Even if that's the case, it's still not enough. Upgrading an institution requires more than just connections. There's another crucial condition: the university's hardware and software strengths are also key factors for an upgrade. That Mingde College you mentioned, it transitioned from a vocational college to an undergraduate institution because it acquired a new campus, a new campus with an investment of fifty billion. After the new campus was established, the faculty was also replaced with individuals whose teaching capabilities surpassed those of a first-tier university. Consequently, Mingde College completed its transition from vocational to undergraduate status in just three years. In China, having connections and money makes everything much simpler. Without these two elements, accomplishing anything becomes extremely difficult. Take, for instance, the Provincial University of Technology. In reality, years ago, it already met the criteria for a 211 key university. Yet, the official response has always been 'under active review.' This is simply because the Provincial University of Technology lacks connections within China's Ministry of Education. Furthermore, the Provincial University of Technology doesn't have many wealthy alumni, so it struggles to raise substantial funds and remains in its old, dilapidated campus…" the principal sighed deeply.

As a principal, he truly detested the convoluted nature of China's power structures. The way everything in China's officialdom required connections made it difficult for new, good universities to emerge. This was precisely why China only had a handful of world-renowned universities, while the US and Europe saw new prestigious institutions appear annually. Not only that, but the US and Europe also consistently produced Nobel laureates. China, with its vast land and abundant resources, possessed a wealth of talent. However, in terms of the number of world-class universities and Nobel Prize laureates, it lagged far behind the West. The fundamental issue wasn't a lack of capability among the Chinese people. Chinese people were famously intelligent; they comprised half of the participants in the annual International Mathematical Olympiad. The reason for the weakness in cutting-edge fields and the lack of breakthroughs in higher education was the stifling lack of dynamism in China's power structures compared to those in the West. China's officialdom prioritized connections and money in every undertaking, leaving little room for innovation and vitality. To put it simply, China's power structures were adept at managing people; they could ensure the populace complied in a myriad of ways. However, they struggled to motivate the populace towards innovation and development. This was a deep-rooted ailment that had persisted for thousands of years! He was merely the principal of a local university; what could he do even if he understood this? He could only watch helplessly as China's power structures hindered the nation's progress. Perhaps, with young talents like Chen Feng entering the higher echelons of power, China's officialdom would eventually undergo a significant transformation.

"Principal, you underestimate Jiangcheng University of Technology. Among the alumni of Jiangcheng University of Technology, there are actually many successful businessmen. It's just that, due to Jiangcheng University of Technology being a second-tier institution, they felt embarrassed to frequently mention it. If Jiangcheng University of Technology successfully upgrades to a 211 key university, these alumni will naturally be more willing to speak of it. Rest assured, as an alumnus of Jiangcheng University of Technology, I will take the lead in organizing alumni fundraising and help Jiangcheng University of Technology build a new campus. With a vast and brand-new campus, combined with Teacher Wang Ziwei's connections in the capital, Jiangcheng University of Technology can easily upgrade to a 211 key university," Chen Feng reassured the principal.

In reality, Chen Feng had no intention of seeking alumni fundraising. This was the way of China: the better the school, the more alumni donations flowed to the alma mater without question. For example, universities like Capital University, Sanshui Provincial University of Science and Technology, and China National University of Defense Technology—these prestigious institutions receive hundreds of millions in alumni donations annually. Why was this the case? The reason was simple: donating to a world-class Chinese university brought significant prestige to the donating alumni, and their associated companies also gained publicity, essentially acting as a form of advertising. Furthermore, substantial donations of hundreds of millions of yuan were eligible for preferential tax treatment from the state. When all factors were considered, regular donations from alumni of key universities were financially advantageous. In contrast, ordinary universities offered virtually no benefits in terms of prestige or advertising effect. Therefore, ordinary universities rarely received donations of hundreds of millions from their alumni.

"That would be immensely appreciated," the principal said, looking at Chen Feng with excitement. If anyone else had said this, he wouldn't have been so moved. However, coming from Chen Feng, he believed it wholeheartedly. Chen Feng was an alumnus of Jiangcheng University of Technology, and during his time there, he had been exceptionally outstanding, frequently representing the university in various Chinese university competitions and achieving excellent results. After graduation, his accomplishments were even more remarkable. Starting as a dedicated driver for a deputy town mayor, he had steadily climbed the ranks of the power structure, transforming Mingshan City and Wuzhou District into stellar districts of Jiangcheng, and even celebrated districts across China. This clearly demonstrated Chen Feng's extraordinary capabilities.

"Principal, you are too kind. As Jiangcheng continues to develop for the better, I also hope that my alma mater, Jiangcheng University of Technology, will flourish," Chen Feng said humbly. After chatting with the principal for a few more minutes, Chen Feng went to find Li Hongling and Jiahua Meizi. The construction of Jiangcheng University of Technology's new campus would require significant investment, and he needed to discuss it with Li Hongling and Jiahua Meizi. Since he had entrusted Li Hongling and Jiahua Meizi with managing his company, he naturally had to consult with them when making substantial expenditures. This was a necessary show of respect for talent!

"Brother Feng, I do not agree," Li Hongling stated first. Jiahua Meizi beside her also voiced her agreement.

"State your reasons," Chen Feng said calmly. Li Hongling and Jiahua Meizi were pure businesswomen. It was understandable that they would object to spending a large sum of money to help Jiangcheng University of Technology build a new campus, as they were helping him manage his vast business empire.

"This is clearly a case of throwing good money after bad; even a fool wouldn't do it," Li Hongling explained loudly. She could have focused on her own business and earned considerable profits each year, but she chose not to because she believed Chen Feng was the man who had given her a second chance at life, and she wanted to support him for life. Now, seeing Chen Feng jumping into such a huge pitfall, she absolutely had to stop him.

"Miss Meizi, what are your thoughts?" Chen Feng intentionally asked Jiahua Meizi.

"Chen Feng, I agree with Li Hongling's opinion. Your businesses, both overseas and in China, do generate substantial profits annually. However, even with wealth, one cannot squander it so carelessly. Education is a bottomless pit that consumes funds, and no matter how much money is invested in education, you rarely see any significant return. Furthermore, developing education, in any country, is not an individual's responsibility but a national undertaking," Jiahua Meizi seconded.

"Xiao Ling, Miss Meizi, have you considered the possibility that helping Jiangcheng University of Technology build a new campus might not only contribute to the development of higher education in Jiangcheng but also allow us to make a significant profit?" Chen Feng asked with a smile.