Since the establishment of the Business School in November 2018, ZIBS has maintained close industry academia collaboration with Hongxiang Group. On May 29, 2021, Hongxiang Holdings Group donated 5 million yuan to the Zhejiang University Education Foundation to establish the "Zhejiang University International Joint Business School Hongxiang Business Education Fund", which is specifically used to support the future development of ZIBS business education and the renovation project of the new building. Both parties will also carry out in-depth cooperation in talent cultivation, executive training, brand building, case building, and other aspects.