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Can Yancheng buy Shi Jing University Hill to attend Beijing Normal University for free?

You can't.

Buying Shi Jing College Hill doesn't mean you can go to Beijing Normal University for free. Shi Jing College Hill is a real estate investment, while Beijing Normal University is a higher education institution. Their relationship is irrelevant. If you want to study in Beijing Normal University, you need to take the entrance examination of Beijing Normal University and be admitted, which has nothing to do with whether you buy Shi Jing College Hill or not.

The full name of Beijing Normal University is Beijing Normal University, which is a national key university directly under the Ministry of Education of People's Republic of China (PRC) and jointly built by the Ministry of Education and Beijing.