Building the Height of High-Quality Capital Accumulation - 2021 Qingdao Global Venture Capital Conference Held

QINGDAO,China,May 10,2021 -- Qingdao,an island of youth and a hot spot of innovation and entrepreneurship,has a complete industrial system,outstanding innovation ability and profound financial genes,and is promoted to develop more quickly with the holding of the Global Venture Capital Conference here for three consecutive years. At present,Qingdao is actively integrating into the new development pattern featured by the mutual promotion of domestic and international dual-circulation while taking domestic circulation as the main body. The 2021 Qingdao Global Venture Capital Conference will also be endowed with a more far-reaching historical significance,which is to build Qingdao into a highland for high-quality capital accumulation by standing at the forefront of opening up to the outside world at a higher level.

On the morning of May 7,the 2021 Qingdao Global Venture Capital Conference,hosted by Qingdao Municipal People's Government and guided by the Asset Management Association of China,was held solemnly at Qingdao Haitian Financial Center Hotel. Themed on "A New Era for Venture Capital,A Bright Future for Innovation and Entrepreneurship - BuildingtheHeightofHigh-QualityCapitalAccumulation",the Conference was held with the attendance of more than 100 renowned experts,scholars,entrepreneurs and representatives of financial institutions in the industry from all over the world to agglomerate the consensus on development,stimulate the entrepreneurial vitality,and discuss opportunities and the future.

Wang Xinfu,Vice Governor of Shandong Province,attended the Conference and made an address. Zhao Haozhi,Deputy Secretary of the Municipal Party Committee and Mayor of Qingdao,and Jiang Xiaojuan,Member of the Standing Committee of the 13th National People's Congress,Deputy Director Member of the Social Construction Committee,Professor and Dean of School of Public Policy & Management,Tsinghua University,delivered the keynote speeches. Liu Jianjun,First-Class Inspector of the Second Department of Market Regulation of China Securities Regulatory Commission,Wang Lei,Deputy Director General of the Department of Capital Project Management of the State Administration of Foreign Exchange,Hu Jiafu,Deputy Secretary of the Party Committee and Vice Chairman of the Asset Management Association of China,Lu Dabiao,Member of the Party Committee and Deputy General Manager of Shanghai Stock Exchange,Li Hui,Member of the Party Committee and Deputy General Manager of Shenzhen Stock Exchange,Mao Zhirong,Member of the Management Committee and Managing Director of Hong Kong Stock Exchange,and Luo Wencai,the Chief Executive Officer of Singapore Exchange Limited made addresses and delivered speeches respectively.

Mayor Zhao Haozhi pointed out in his keynote speech that,over the past two years,with the joint efforts of all circles,the construction of Qingdao Venture Capital Center has been developed comprehensively,showing a good situation of vigorous development. More venture capital institutions have been laid out in Qingdao,more enterprises have received capital support,and a better industrial ecology has been formed more quickly. In the Outline of the 14th Five-Year Planning of Qingdao,the construction of Global Venture Capital Center is taken as an important objective of work. Qingdao will continuously innovate policies to provide strong support for the development of venture capital; will strive to optimize services to create a good atmosphere for the development of venture capital; and will strengthen coordination and linkage to actively explore the creation of a regional capital alliance.

Mayor Zhao Haozhi said that Qingdao is currently focusing on developing the real economy to provide new space for venture capital; focusing on promoting technological innovation to provide new opportunities for venture capital; focusing on accelerating digital transformation to provide new opportunities for venture capital; focusing on implementing organic urban renewal to provide a new hot spot for venture capital. Taking this Conference as an opportunity,Qingdao will invite more venture capital institutions to pay attention to Qingdao,to enter Qingdao,and to become "partners" of Qingdao for urban development.

The important ceremony is full of highlights,and the Conference promotes a satisfactory result of contract signing

The important ceremonial section of the Conference mainly displayed the development achievements of Qingdao Municipal Government Guidance Fund at its 10th anniversary. The Conference also carried out the inauguration ceremony of the public venture capital platform and Qingdao Innovation Investment Co.,Ltd.

At the Conference,contracts were signed for 28 key projects on the spot,with a total scale of RMB61.688 billion Yuan,including 16 implemented fund projects with a total scale of RMB50.3 billion Yuan and 10 investment projects with a total scale of RMB11.388 billion Yuan. Zhongtai Securities Co.,Ltd. signed strategic cooperation agreements with the Finance Bureau of five cities in Jiaodong Peninsula to help with the economic transformation of the five cities. Also,at the Conference,the intentional contract for the qualification of QDLP pilot fund manager of CITIC Trust was signed,making a substantial step towards the pilot foreign investments of QDLPs in Qingdao. In addition,the contracts for a number of projects were signed,including Shandong Green Development Equity Investment Fund,Qilu Qianhai (Qingdao) Venture Capital Fund,Shandong Land and Sea Linkage Development Fund,Qingdao Meihuashengkai Equity Investment Partnership,Qingdao Chengwei Zhongying Kechuang Venture Capital Partnership,etc..Qingdao has seen increasingly prominent gathering effect of building a global venture capital center,which empowers the high-quality development of real economy continuously with the power of venture capital.

Ten Policies of Qingdao for Venture Capital 2.0 issued,leading the first-move

The Conference released several policy measures of Qingdao to further support the construction of Qingdao Venture Capital Center. As an upgraded version of the "Ten Policies of Qingdao for Venture Capital",these policy measures fully promote the construction of a global venture capital center with the most competitive policy provisions in China.

The version 2.0 of the "Ten Policies of Qingdao for Venture Capital",with a total of 10 articles and 30 items,covers the full chain of "fundraising,investment,management and withdrawal",and is fully in line with the first-tier cities and featured by stronger support for venture capital,broader coverage,more comprehensive supporting measures and more precise supported areas. Striving to provide what others don't have or what better than others,this policy is currently the most leading and competitive in the domestic venture capital industry. The upgraded policy encourages early investment,investment in small-scale enterprises,and investment in science and technology,encourages institutions to make more investments more bravely,explores the establishment of risk-sharing mechanism,insists on the attachment of equal importance to "bringing in" and "going global",further optimizes the profit concession measures for government-guided funds,and provides a better business environment for venture capital institutions to develop in Qingdao.

Global guests offer their wisdom and advice to continuously build the height of high-quality capital accumulation

In the keynote speech section of the Conference,Wang Zhongmin,Chairman of Shenzhen Financial Stability & Development Institute and former Vice Chairman of National Council for Social Security Fund,Li Xunlei,Chief Economist of Zhongtai Securities and Director of Institutional Committee,Liu Erhai,Founding and Managing Partner of Joy Capital,Jia Kang,President of China Academy of New Supply-side Economics and winner of Sun Yefang Economic Science Award,Yu Minhong,Founder of Hongtai Aplus and Founder of New Oriental,and Sheng Xitai,Founder of Hongtai Aplus and other heavyweight guests delivered keynote speeches,providing new ideas for the high-quality development of economy in Qingdao.

This Conference was also held by inviting more international heavyweight experts,scholars as Nobel Prize winners,and leaders of international institutions. Eric Maskin,the winner of 2007 Nobel Prize in Economics,Detlef ZUEHLKE,the originator of Industry 4.0 in Germany,Olivier Guillet,Vice Dean of Sciences Po's School of Management and Innovation,and Tadayoshi Yamanaka,Founder and CEO of Venture Labo Group,and other economists and industry leaders from the United States,Germany,France,Japan,etc. gave advice on continuously developing Qingdao into a global venture capital center,comprehensively enhancing the international perspective of the Conference.

The 2021 Qingdao Global Venture Capital Conference lasted for two days. The Conference set one main forum and four parallel sections,including a special session on science and technology innovation mother funds,a special session on Chinese funds,an on-cloud meeting of outstanding talents,and regional and municipal promotions. It has various functions such as policy promotion,project contract signing,communication and interaction. The annual white book of global venture capital will also be issued at the Conference for three consecutive years. More than 20 media platforms made a full-process live streaming of the Conference,presenting a pageant of professional industrial exchange and high-end resources convergence to the world.

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