This name is a synonym of Magnolia sargentiana Rehder & E.H.Wilson.
The record derives from WCSP
(data supplied on 2012-03-23)
which reports it as a synonym and as an illegitimate name (record 117559) with original publication details: J. Bot. Soc. China 1(3): 298 1934.
This name was in version 1 of The Plant List, record kew-117559, and has not been changed.