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On June 26, Tsinghua Holdings announced it hopes to launch two plans— the Xingju (stars gathering) Plan and the Jishi (footstone) Plan — to foster more than 500 companies with assets of over 100 million yuan ($15.04million) and accelerate the transformation of 50 major scientific and technological achievements in five years at a themed forum of the Summer Davos in Tianjin.
Xu Jinghong, the chairman of Tsinghua Holdings Co., Ltd. delivers a speech at the themed forum.[ Photo provided to chinadaily.com.cn]
As announced, the two plans will emphasize the upgrade of start-ups, incubating ecological system and development projects and transforming major science and technology projects, respectively.
Approved by the State Council, Tsinghua Holdings, supported by Tsinghua University, is a wholly State-owned technology conglomerate. For over 30 years, the company has incubated over 10,000 startups and offered connections and services to 100,000 startups.
The total market value of these listed companies fostered by Tsinghua Holdings — domestic and foreign — has surpassed 300 billion yuan ($45.12 billion), Xu Jinghong, the chairman of Tsinghua Holdings Co., Ltd., said at the forum.
The launch ceremony of the Xingju Plan was held at the forum. [ Photo provided to chinadaily.com.cn]
According to the Xingju Plan, Xu said the Tsinghua Unigroup will foster over 500 start-ups — the assets of which are worth more than 100 million yuan ($15.04million) — and to create and connect 1,000 incubators and laboratory spaces in over 100 cities and regions all around the country with thousands of space, funds of billions of yuan and global channels in the next five years.
Launch ceremony of Jishi Plan[ Photo provided to chinadaily.com.cn]
According to the Jishi Plan, the company will invest 50 billion yuan ($7.52 billion) in Tsinghua technical research and development, set up a fund of 10 billion yuan ($1.504 billion) to transform scientific and technological achievements and build a 500,000-square-meter major science and technology incubation space to engage all parties — including government, industries and research institutions — to jointly accelerate the transformation of 50 major scientific and technological achievements, at least five of which are hoped to reach a leading status in the global market.
