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Xu Jinghong, the president of Tsinghua Holdings Co., Ltd delivers a keynote speech at the forum.[Photo provided to chinadaily.com.cn]
On June 26, a themed forum of the 2016 Summer Davos, co-hosted by Tsinghua Holdings Co., Ltd and China Business Network, was held in Tianjin.
At the forum, Tsinghua Holdings announced two five-year plans—the Xingju (star gathering) Plan and the Jishi(footstone) Plan, the first to emphasize upgrading of start-ups incubating ecological systems and the second to stress transforming major science and technology research into marketable products. In the five years, 500 companies with assets over 100 million yuan will be fostered via the Xingju Plan. Under the Jishi Plan, Tsinghua Holdings will invest 50 billion yuan in technical research and development, set up a special fund of 10 billion yuan for major science and technology transformation, build a 500,000 sq m major science and technology incubation space and accelerate transformation of 50 major scientific and technological research achievements.
The innovative and entrepreneurial service has entered the age of 3.0, according to Xu Jinghong, the president of Tsinghua Holdings. The age of 1.0 focused on establishing roles and jobs, 2.0 emphasized soft, procedural services such as tax planning and legal work, and the new age is to prioritize value-added services and build an Eco-platform from developed components.
The Xingju Plan aims to foster innovative and entrepreneurial growth by integrating five systems---space, capital, talents, globalization and collaboration.
Wang Choyong, president of China Equity Group, calls on all relevant authorities to prioritize support from capital markets for mass innovation and entrepreneurship. Without good financing exit channels, no benign ecological cycle can be formed.
“The main issue is not space, policies or the time dimension; it is the dimension of capital. There is capital of 2 trillion in China, 93 percent of which is controlled by banks while the remainder belongs to other organizations.”Wang said.
Entrepreneurship has a cycle, but in China, few investors can last for five years. Startup investment is short of exit channels, so there are few listed companies, Wang added.
Peng Zhiqiang, the president of Shengjing 360.com, expressed his hopes for the innovative and entrepreneurial field: “Today, most Chinese startups are gathered in the 2C Internet applications industry; but just 5-10 percent of investment is used in that field. However, in the US, 40 percent is invested in the 2B field and in Israel, 90 percent of money is applied to 2B and deep technology.”
