Shanghai label, or rather artist management company, Zhu Lu He Feng are not only still going but are launching into Round 6 of their Shanghai university campus tour.
Here's a post from a couple of years back detailing round two
Here's some other quick links:
When ZLHF started this, it was groundbreaking. While action often used to happen in the vicinity of university grounds, independent student life type stuff inside was still almost off-limits. Now they are into the fifth year of running this. Also, some colleges like Jiao Da even have self-proclaimed Jiao Da bands and a mini scene.
A quick look at the flyer shows some weekend regulars like Banana Monkey, Plastic Chocolate and Joker, although regular may not be the word. There's a few ZLHF stable bands too, who you don't see playing big shows that often, presumably because of management control and all those other issues that will not be mentioned here.
Final point: campus shows can be done. Even on a smaller scale. English speaking bands may want to contact Shanghai band Stegosaurus? and, I think, Pairs, who have been to campuses themselves.