Last August, in Wenzhou City, Zhejiang Province, known for its "Wenzhou mode", Wenzhou University announced it is going to be built into the first full-time comprehensive university run in a joint stock form in China.

Founded in 1984, Wenzhou University has long suffered from a deficiency of funds. In the last 15 years it has been run only with a yearly enrolment of less than 2000 and a teaching staff of 145 and 15 faculties. It has been in a way failing to meet the demand of local economic development for an increased number of personnel in Wenzhou.

To invigorate Wenzhou University, the Wenzhou government depreciated the original assets of Wenzhou University into a 40% share along with 200 million yuan accounting for 60% of the whole joint stock raised by enterprises to be put under the management of a new Wenzhou Educational Industry Corporation Ltd. A two-way form of investment subsequently takes the place of the former one-way form of investment by the government. This has resulted in an expansion of over 2000 mu of campus and a three-fold increase of enrollees to a total student body of over 10,000 to Wenzhou University today.