Chongqing- Southwest China's Chongqing Municipality will host the Chongqing Venture Capital Conference (CVCC) 2023 on October 25-26 at the Western (Chongqing) Science City, an area that exemplifies the future of scientific and technological innovation and high-quality development.
The Western (Chongqing) Science City. (Photo/ Zeng Cheng)
The two-day event, with the core theme of integrating science and innovation, industry, and finance, is anticipated to be an influential summit with almost 100 prominent venture capitalists and entrepreneurs in attendance, according to a press conference on October 18.
On the first day, October 25, attendees will partake in on-site research, financing activities, and closed-door symposiums. The main event will occur on the 26th, with the opening ceremony, followed by an industrial investment summit and other cooperative activities in the afternoon.
Eyes on the digital economy, life and health, and integrated circuits
Key representatives from leading venture capital firms, including China International Capital Corporation (CICC), Legend Capital, and Zero2IPO Group, will discuss significant topics such as the macro-economy, industry trends, and the transformation of scientific and technological achievements.
The conference is more than just dialogue; it is also about action. Notable announcements will include the launch of the Western (Chongqing) Science City industrial development fund and the unveiling of measures for the venture capital center of Western China.
Built as a joint venture among Western (Chongqing) Science City, Chongqing Hi-Tech Industrial Development Zone, and Zero2IPO Group, the venture capital center aims to invest 30 billion yuan (4.1 billion U.S. dollars) into the Western (Chongqing) Science City industrial development fund. Their ambitious three-year plan includes the introduction of 60 venture capital institutions.
A core aspect of the conference is its focus on empowering industrial development, with special emphasis on the digital economy, life and health, and integrated circuits. The goal is to facilitate a virtuous cycle among science, technology, industry, and finance, ultimately modernizing Chongqing's manufacturing sector.
The science valley of the Western (Chongqing) Science City. (Photo/ Zeng Cheng)
A robust industrial ecosystem booms capital flow
The Chongqing Municipal People's Government has actively supported the venture capital fund industry by setting up a comprehensive system to foster a robust industrial ecosystem, streamlining processes to issue certificates within seven working days.
Efforts to deepen the qualified domestic limited partners (QDLP) and the qualified foreign limited partnership (QFLP) pilot programs have been fruitful. To date, nine companies have received the city's QDLP pilot certification, which promotes innovative two-way cross-border capital flow.
As evidence of their commitment, there are 164 registered private equity fund managers in Chongqing, managing 653 funds totaling 182.6 billion yuan.
At the press conference, Zhang Yanyan, Executive Director and Senior Vice President of Zero2IPO Group, highlighted Chongqing's equity investment growth. She revealed that investment in the city has seen a 14.7% increase in 2022, making it six times more than figures five years ago.
Zhang added that, especially with the IT, semiconductor, and automotive industries as the primary investment focus, Chongqing has managed to raise an impressive amount, surpassing 10 billion yuan in 2022 alone.
With the 2023 Chongqing Venture Capital Conference around the corner, the city stands at the cusp of a new era of innovation, collaboration, and growth.