Hangzhou summit looks to attract top returnees
-
The Yangtze River Delta Federation of Overseas Chinese is set up at the Overseas Chinese Elite Innovation and Entrepreneurship Summit.
Ti Gong -
The Yangtze River Delta Federation of Overseas Chinese is set up at the Overseas Chinese Elite Innovation and Entrepreneurship Summit.
Ti Gong -
The Yangtze River Delta Federation of Overseas Chinese is set up at the Overseas Chinese Elite Innovation and Entrepreneurship Summit.
Ti Gong
As a national model for attracting returned overseas Chinese entrepreneurs, Hangzhou has offered incentives and capital for years to support returnees to start new businesses in the city.
It is the 11th year that the Hangzhou Federation of Overseas Chinese has hosted the Overseas Chinese Elite Innovation and Entrepreneurship Summit, aiming to help returning professionals when they seek investment and cooperation.
During the conference held last month, 19 projects signed contracts, with a total investment of 11.6 billion yuan (US$1.73 billion). Most were in the new energy, pharmaceuticals, information technology and artificial intelligence industries.
To accelerate the integration of the Yangtze River Delta region, this year the summit organizers established the Yangtze River Delta Federation of Overseas Chinese, inviting entrepreneurs, returnees, officials and investors from Shanghai, Hefei in Anhui Province, Nanjing, Suzhou and Wuxi in Jiangsu Province and Ningbo and Quzhou in Zhejiang Province to look for cooperation opportunities and achieve mutual development.
“The new federation breaks boundaries between different administrative divisions and cities, building a bridge between returnees and capital,” said Chen Xiaofeng, director of the federation committee. “In return, it helps governments search for promising projects.”
Wang Kuifeng, chief executive officer and founder of Genhousebio Co, started his business in Suzhou.
Now he is cooperating with Zhejiang University on a new biomedical project.
“My company researches and develops anti-cancer medicines. It requires returned overseas professionals in R&D department. The summit and the federation are ideal platforms to recruit outstanding returnees and look for potential opportunities in other cities,” Wang told Shanghai Daily.
During the past 11 years, the summit has attracted over 500 overseas elites to Hangzhou. Investments worth 48 billion yuan were inked, and more than 552 cooperation projects have been commercialized, giving a boost to local industrial upgrading and transforming.
A batch of promising projects have developed into pre-eminent enterprises, such as Byai Co in AI industry.
“We attended the summit in hopes to attract more investment and talent for a long-term growth,” said Pan Yonghuan, chief marketing officer of Byai Co.
The company’s AI contact business has been booming due to the outbreak of COVID-19. So far, it has provided AI services to over 200 government departments in China and more than 42,000 enterprises around the world.
