Shangri-La Hotels and Resorts
According to the Hangzhou civic plan, the campus was sold to the Hong Kong-based Shangri-La Hotels and Resorts (Robert Kuok, 郭鶴年/郭鹤年) at a price of 2.46 billion Chinese Yuan. The teaching buildings were torn down by explosions. The land of the campus was planned to build a luxurious hotel.