Silicon Valley and Chengdu Hi-Tech Zone to Mutually Set Up "Technology & Finance Center"

CHENGDU, China, March 28, 2018 /PRNewswire/ -- On March 27^th, Chengdu Hi-Tech Zone, Silicon Valley city clusters (Dublin, Mountain View, and Menlo Park), and Him Group, a management consulting company in Silicon Valley, signed a Memorandum of Understanding on cooperating to set up the "Chengdu-Silicon Valley Technology & Finance Center", aiming at promoting the realization of the global development of SMEs in both Silicon Valley and Chengdu Hi-tech Zone.

According to the triple MOU, Him Group will join with Silicon Valley city clusters to invest USD 30 million to set up the "Chengdu-Silicon Valley Technology & Finance Center" in Chengdu Hi-Tech Zone and establish a technology & finance center in Silicon Valley, covering an area of 1,000 square meters concurrently. Him Group will be mainly responsible for the operation management, project financing, and consulting service of this project. Projects in Chengdu Hi-tech Zone and Silicon Valley will be managed as a whole.

"Chengdu-Silicon Valley technology & finance Center" consists of three major business sectors, namely setting up the "Chengdu-Silicon Valley Technology Transfer Center" and "Chengdu-Silicon Valley Financing Service Center" in Chengdu and "Chengdu-Silicon Valley Free Trade Window" in Silicon Valley. The co-built technology & finance center will create a platform to advance the global development for SMEs, which will facilitate projects to get mutual support in different phases so as to implement each other's advantages.

Now, as a node city of the "Belt and Road", Chengdu has gained more and more attention from the world. Mayor David Haubert of Dublin said that, the cooperation of Chengdu Hi-Tech Zone and Silicon Valley will build a brand new bridge for both places and the decision of mutually setting up "technology & finance Center" was wise. He firmly believed that Chengdu would win more development opportunities from Silicon Valley.

Chengdu Hi-Tech Zone is one of the famous state-level hi-tech development zones in China, committed to building itself as the "International Innovation Manufacturing Center" with global influence. It has been honored as the Silicon Valley in Western China. So far, it has set up 20 overseas talent offshore innovation and startup bases, 9 in the U.S. and 3 in Canada.

Chengdu Hi-Tech Zone has not only attracted a large number of well-known global companies including Intel, GlobalFoundries, IBM, Philips, Maersk, and Siemens to settle down, but also introduced hi-end talents including 5 Nobel Prize winners to make innovation and start business. It has gathered more than 16,000 companies in terms of innovation and entrepreneurship. Moreover, the number has been rapidly growing. Chengdu Hi-Tech Zone has already become one of the international development zones with the highest-level of development in central and western China.

SOURCE Chengdu High-tech Industrial Development Zone