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A Number of Achievements and Highlights of TusHoldings are Included into the “Belt and Road” Hot Issues Report from China Economic Information ServicePrint

Post Time:2019-05-10 10:08:25

The recent “Belt and Road” Hot Issues Report from China Economic Information Service shows a number of achievements and highlights achieved by TusHoldings through the implementation of the “Belt and Road” Initiative.

Some cooperations made by TusHoldings in the implementation of the “Belt and Road” Initiative

The Report shows that the international business of the enterprises in Zhongguancun covers a lot of areas, especially North America, Asia and Europe, involving more than 200 countries and regions around the world. In the field of innovation service platforms, TusHoldings currently has nearly 300 bases in the world, covering 70 cities in 10 countries, with the total investment in incubation exceeding RMB 2 billion and the revenue exceeding RMB 20 billion. In addition, TusHoldings has set up branches and subsidiaries in 9 countries, including Canada, the United States, Malaysia, Japan, Italy, the United Kingdom, Australia, Egypt and Thailand, and set up relations with 16 countries, such as Brazil, Sweden, Finland and Singapore. There are more than 10 overseas universities in cooperation with TusHoldings, including University of California, Polytechnic Institute of Milan, University of Washington, Imperial College London, Massachusetts Institute of Technology, University of Tokyo, University of New South Wales and Trinity College Cambridge.

According to the Report, Chinese enterprises have a strong innovation power for international business and play a key role. The highest percentages of contributions of international business of enterprises to the country of residence are as follows: enhancing local technological innovation capabilities (56%), expanding local employment (34%), and improving local living standards (30%). According to the report, TusHoldings and the Trinity College, Cambridge signed the TusPark Cambridge Cooperation Agreement in 2018, by which a number of R&D, incubation and innovation centers in the fields of technology and biomedicine will be set up in the Cambridge Science Park under the Trinity College, Cambridge, including the first biotechnology integrated innovation carrier (BioHub) in the history of Cambridge Science Park. In the future, TusHoldings and Trinity College, Cambridge will continue to deepen cooperation in the fields of academics and innovation & entrepreneurship based on BioHub - the biotechnology-based integrated innovation carrier to be jointly established by them.

In terms of internationalization path, more than 50% of the interviewed enterprises chose the path of “focus on both ‘going out’ and ‘bringing in’ in a basically balanced manner”. The report mentioned that after extending its innovation incubation network overseas, TusHoldings began to allocate its resources globally, such as technology, market, capital and industry, and many new innovation paths and business logics had emerged. YANG Ming, General Manager of Tus-S&T Service Group, gave an example: to export the unmanned sanitation vehicle technology to Europe in reverse by setting up a research institute there. In fact, Europe has a great technical strength, but the laws there restrict the driving of these vehicles on the roads in their countries due to lack of abundant accumulated data. However, the case is different in China: we have driven such vehicles for tens of thousands of kilometers in closed parks and accumulated abundant data. At the time of optimization, we suddenly realized that our team had been ahead of the European team.

In the survey, the report team has found out that more and more enterprises are working to extend the innovations in the Chinese market to the rest of the world, and the “Chinese Path” represented by the Zhongguancun innovation corps will become more influential around the world.

Extended Reading

China Economic Information Service is directly under Xinhua News Agency. It was established in 1989 and was restructured and unveiled on April 26, 2016. After the integration and restructuring, China Economic Information Service has become the main body responsible for the integrated management and operation of the economic information of Xinhua News Agency.

At present, China Economic Information Service undertakes the task of building four national-level information service platforms: “Xinhua Finance”, which serves the national financial information security and RMB internationalization, “Xinhua Silk Road”, which serves the “Belt and Road” Initiative, “Xinhua Credit”, which serves the construction of the social credit system, and Shanghai Petroleum and Natural Gas Exchange, which serves the national energy security. China Economic Information Service is also the main body for the construction of the national high-end think tank economic research center of Xinhua News Agency, performs the function of the economic think tank, provides in-depth analysis and decision-making suggestions for domestic and international key, hot and focus economic issues, and provides think tank consulting services according to the needs of key users.