Global Venture Capital Summit 2018 Held in Xi’an to Gather Wisdom for Industries
Published:2018-09-06
 

With a view to implementing the national strategic innovation-driven development and the decision of financial reform and opening up, advancing the building of Xi’an into a central city and Silk Road international financial center and promoting the integrated development of China with the rest of the world,  the “Global Venture Capital Summit 2018”, co-sponsored by Communist Party of China Xi’an Municipal Committee, Municipal People’s Government of Xi’an, co-organized by the Financial Work Office of Xi’an Municipal People’s Government and Administrative Committee of Xi’an Hi-Tech Industrial Development Zone, Zero2IPO Group, Venture Capital Investment Co. Ltd of Xi’an Hi-Tech Industrial Development Zone, and co-supported by Great Xi’an Industrial Fund, Xi’an Capital and Casstar, was held from Sept 5-6 in Xi’an, the starting point of Silk Road. 

Global Venture Capital Summit 2018 is the largest of its kind in China with the most number of international participants, with venture capitalists from the US, Germany, France, Israel, Japan, South Korea joining the related discussion. The investment giants all shared their insights on venture capital and offered advices on the Xi’an market of venture capital.

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Wang Yongkang, Secretary of Communist Party of China Xi’an Municipal Committee

Seven major highlights of Global Venture Capital Summit 2018 are all revealed.

Highlight 1: To tap motive power of capitals, star investors energize value investing

At the featured opening activity “Lecture Hall of Investment Sector” held on Sept 5, Vice Mayor Gao Gao extended warm welcome and heartfelt gratitude to guests on behalf of Xi’an Party committee and government. And the opening ceremony of the summit held on Sept 6 specially invited more than 100 globally well known investors, representatives of trade associations, entrepreneurs to discuss the business and investment opportunities in Xi’an. These celebrities included: Wang Zhongmin, former Vice Director of China National Social Security Fund Council; Xu Xiaoping, Founder of Zhen Fund, Co-founder of New Oriental; Dave Jones, President of Asia of Silicon Valley Bank and President of SPD Silicon Valley Bank; Bruno Bézard, partner of Cathay Capital Private Equity; Ni Zewang, Chairman of Shenzhen Capital Group Co. Lt; Tang Ning, Founder and CEO of CreditEase; Yao Jinbo, famous angel investor and CEO of 58 Group; Zhou Kui, partner of Sequoia, etc.

As for the future development of innovation and startup market Yao Jinbo, CEO of 58 Group said that no matter how the market develops entrepreneurs should learn to cope with it, and that he can only make himself outstanding by not being a man chasing the fashion in bubbles.

Ni Zhengdong, Founder and Chairman of Zero2IPO, said that for the next 20 years, venture capital sector of China has got 3 billion yuan worth of capital ready for continuous support of innovation and entrepreneurship, and that this year marks a turning point of venture capital, with challenge being temporary and prosperity the future of the sector.

When talking about the sensational scenarios of venture capital in China market, Xu Xiaoping, Founder of Zhen Fund and Co-founder of New Oriental, said that the wonders of startup businesses are closely tied to the incentives of equity, which can have an unimaginable power on the creativity, driving force and imagination of the people.

Under the topic of new opportunities of trillion yuan scale for equity investment brought by the “Belt and Road Initiative”, Wang Zhongmin, former Vice Director of China National Social Security Fund Council, said that if a city is to create a market with a scale of trillion yuan, the local authorities should open the data resources to the cloud platform companies that are most competitive so that they can develop the digital commercial scenario to the widest extent.

Highlight 2: Expert talks will lead the new dimension of venture capital

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Gao Gao, Standing Member of CPC Xi’an Municipal Committee and Vice Mayor of Xi’an, releases the “10 articles for venture capital”

At the summit 30 famous venture capitalists had sincere talks with leadership of Xi’an, including Wang Yongkang, Secretary of CPC Xi’an Municipal Committee, Shangguan Jiqing, Mayor of Xi’an, Gao Gao, standing member of CPC Xi’an Municipal Committee and Vice Mayor of Xi’an, where they offered advices for Xi’an on the development of venture capital, convergence of venture capital enterprises in the city. The meeting has provided a window of direct communication between Xi’an and the Chinese leading venture capital institutions, and established an in-depth link and compatibility on capital level, created historical and business opportunities for the enterprises in Xi’an, where they may work together to tap the fertile soil of Xi’an that boasts rich resources of technology and education.

Highlight 3: “10 Articles for Venture Capital” will build the new dimension of investment for innovation and entrepreneurship of great Xi’an

With a view to expediting the development of financial industry, advancing the implementation of building of Silk Road international financial center, speeding up convergence of resources of venture capitals, creating positive environment for venture capital and the high land of investment in western China, and better serving the need of innovation and entrepreneurship in Xi’an, the summit came up with Opinions of Xi’an Municipal People’s Government on Supporting Xi’an National Independent Innovation Demonstration Zone for Gathering Institutions and Talent of Venture Capitals (short for “10 Articles for Venture Capitals). The policy will be put in pilot implementation in Xi’an Independent Innovation Demonstration, to further promote the in-depth integration of resources of technology and venture capital for multiplication and to attract and cultivate a batch of venture capital institutions with international influence and competitiveness, which will be conducive to the creation of positive environment of investments of innovation and entrepreneurship in Xi’an, where a coordinated and interactive dimension for development in the form of “technology + innovation and entrepreneurship + venture capitals” will be established.

Highlight 4: Global Alliance of Silk Road Venture Capitals was founded as a milestone

Global Alliance of Silk Road Venture Capitals was founded on the venue of the summit, which aims to give full play of capitals, to connect global innovative resources, to shoulder the mission of building global venture capitals, and to promote the high quality development. Professional institutions of venture capitals, private equity, investment banks, accounting firms, law firms around the world will form a tremendous power of operation to take the important mission of building global ecosystem for venture capitals and the comprehensive service platform for gathering industries. The number of the first membership of institutions exceeds 100, which includes Shenzhen Capital Co. Ltd., IDG Capital, Legend Capital, Lenovo Capital, Northern Light Venture Capital, DT Capital Partners, SBCVC, etc. Seated at Xi’an Hi-Tech Industrial Development Zone, the association will invite members to attend the annual global venture capital summit to offer endless driving forces and resources for the development of world economy.

Highlight 5: Xi’an units reached agreement on strategic cooperation with frontline institutions to deepen cooperation

With a view to implementing the national innovation-driven development strategy and the decision of reform and opening up in financial sector, the Financial Work Office of Xi’an Municipal People’s Government signed agreements of strategic cooperation with frontline venture capital institutions such as Shenzhen Capital Co. Ltd, Zhen Fund, Sequoia, Joy Capital, etc. In addition, other agreements were signed at the venue of the summit between various units of Xi’an with venture capital companies, including: Xi’an Hi-Tech Industrial Development Zone with Qianhai Financial Holdings, SPD Silicon Valley Bank, Xi’an Madison Technology Service Co. Ltd; Qujiang New District with Beijing Guokai Taifu Capital Management Co. Ltd; Xi’an Economic and Technological Development Zone with Zheshang Venture Capital.  All the agreements so signed aim to bring in capitals and talents for the building of Xi’an into an important strategic hub that connects great Guanzhong area, great western China, and Europe and China. 

Highlight 6: TOP100 of 2018 Future Stars of Xi’an was disclosed

As an important part of “Longmen Operation”, the selection of “TOP100 of 2018 Future Stars of Xi’an” was intended for conducting in-depth integration of industries and capitals to support the building of Xi’an into the “Silk Road International Financial Center”. The selection and evaluation was conducted by 160 investors and 20 experts for 72 hours, the result was disclosed at the venue of the summit out of 1,686 items of projects. The selection is expected to tap a number of good quality enterprises with bright future, high technology, huge potential for priority promotion and cultivation, to offer more “resources” for the social and economic development of Xi’an, and to create opportunities for more private enterprises of potentials to achieve “a fish leaping over the dragon gate” or a great leap forward. The unicorns of Xi’an in future will start from here toward the world.

Highlight 7: Hard technology + Military and Civil Integration + Big Culture energize innovation in Xi’an

The Global Hard & Core Technology Conference 2017 held in Xi’an has made the brand of hard and core technology of Xi’an known to the world, and the “global capital of hard & core technology” has become the new calling card of Xi’an in the development of world cities. At the same time, the measures taken in military and civil integration have offered new opportunities for the military industry in Xi’an. In addition, focusing on the supply side reform, Xi’an is speeding up its efforts in building cultural projects, parks and towns. With regard to hard technology, military and civil integration, big culture, or the three major industries of Xi’an characteristics, Global Venture Capital Summit 2018 explored the innovative development in the context of global business and investment.

The summit attracted more than 2,500 visitors including representatives of some 500 venture capital institutions, some 400 industrial media outlets, some 100 trade associations, some 1,000 startup businesses. A grand gift that combined the millennium history of Xi’an and the Silk Road cultures—Dream of Chang’an—Grand Etiquette Ceremony of Tang Dynasty was presented to the guests, which display an imposing image of Xi’an that integrates history, culture, creativity and technology. Attracting the participation of world well known leaders of venture capitals, the Global Venture Capital Summit 2018 will gather trillion yuan worth of capitals to Xi’an, a city that is running for its goals, to help its development and to promote the development of venture capital industry in the world.

[Source:www.cctv.com]