The 26th China High-Tech Fair: A Showcase of Innovation and Investment
Introduction to the CHTF
The 26th China High-Tech Fair (CHTF) recently took place in Shenzhen, Guangdong Province, showcasing a spectacular array of advanced technologies and robotics. This year’s exhibition not only celebrated the dynamic innovations in the tech sector but also highlighted strategic developments in venture capital funding for emerging tech industries in China. Against the backdrop of a robot impressively demonstrating its walking capabilities, the event stirred considerable excitement, drawing attention from entrepreneurs, investors, and technology enthusiasts alike.
A robot demonstrates its walking ability at the 26th China High-Tech Fair (CHTF) in Shenzhen, south China’s Guangdong Province, Nov. 14, 2024. A variety of robots and products of related industries are exhibited at the ongoing 26th CHTF, attracting lots of attention. (Photo: Xinhua)
Venture Capital Measures for Central Enterprises
In tandem with the CHTF, two Chinese authorities on November 14, 2024, outlined new measures designed to enhance the venture capital landscape for central enterprises. Released by the State-owned Assets Supervision and Administration Commission (SASAC) and the National Development and Reform Commission, these initiatives are focused on promoting long-term, small-scale investments in hard technology. By leveraging venture capital as a market-oriented tool, these measures aim to foster innovation and bolster China’s ambition of becoming a global leader in technology.
Encouraging Early-Stage Investments
These newly unveiled policies are particularly focused on guiding central enterprises to select and invest in innovative startups that are still in their early or developmental stages. By targeting companies that demonstrate high potential for growth in hard technology, the measures aim to create a robust ecosystem supporting technological advancement. Notably, the funding duration for central enterprises’ venture capital can now extend up to 15 years, significantly longer than traditional equity investment funds, thereby providing a more stable financial structure for startups.
Shareholder Collaboration and Strategic Investments
Additionally, the measures encourage central enterprises to collaborate with educational institutions, technological incubators, research institutions, and industrial parks. This partnership framework is designed to facilitate a two-way exchange of knowledge and resources, promoting strategic guidance for young VC enterprises. Such collaborations are essential for nurturing innovative projects that meet the country’s key technological needs.
Transforming Scientific Achievements into Reality
The overarching goal of these venture capital measures is to optimize the investment environment and promote the transformation of scientific achievements into market-ready products. By focusing on high-quality innovative projects and hard technology, the policy aims to cultivate new productive forces, leading to a higher level of scientific and technological self-sufficiency for the nation.
The Impact of Policy on the Tech Landscape
Experts, such as Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, have voiced optimism regarding these policy initiatives. Wang emphasized that by increasing capital investment in innovation, the measures provide a robust foundation for the development of innovative enterprises. Such support could significantly contribute to the achievement of self-reliance in technology, vital for China’s position in the global tech arena.
Conclusion: A Future of Innovation and Collaboration
The combination of the CHTF’s showcase of technological prowess and the introduction of proactive venture capital measures signifies a pivotal moment in China’s quest for technological advancement. By promoting cooperation between central enterprises and innovative startups, alongside substantial capital investment in cutting-edge technology, China is not only nurturing its own tech capabilities but is also setting the stage for a transformative era in science and technology. This collaborative spirit, exemplified at the CHTF, is a promising indicator of what the future holds for China’s innovative landscape.