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China, US enjoy potential for cooperation through tech innovation

Updated: May 17,2017 5:37 PM     Xinhua

HOUSTON — China and the United States are highly complementary with great potential for deepening cooperation in the field of technology innovation, government officials and entrepreneurs said here on May 16.

The 2nd US-China Innovation and Investment Summit (UCIS) kicked off in Houston on May 16 with the participation of senior officials and entrepreneurs from the two countries.

Li Qiangmin, the Chinese consul general in Houston, said at the summit that innovation has become a new engine for the cooperation between China and the United States.

Houston Mayor Sylvester Turner said “we have about $18 billion worth of business with China, and that is between the city of Houston and China on the annual basis. It is my hope that I am going to do everything I can to increase that relationship between the two.”

US-China Innovation Alliance President Bernard Harris told Xinhua that the summit is important for the companies in the two countries.

“I think everything is important in this conference, and it provides a platform where US and Chinese companies can come together,” he said.

In a congratulatory letter to the summit, Texas Governor Greg Abbott said decades of relations between Texas and China have brought advantages to both, in the forms of mutually beneficial trade and valuable cultural exchange.

“In the decades to come, this relationship will continue to be one of the world’s most significant as the United States and China work toward common goals of prosperity, strength and peace,” he said.

According to Chen Hongsheng, the consul at the Chinese Consulate General in Houston, the UCIS, which was jointly organized by China Science and Technology Exchange Center and US-China Innovation Alliance, provides a unique opportunity for US-based technology companies to connect with investors, strategic partners, leading incubators/accelerators, and professional services firms from China.

“It is an excellent platform for companies to leverage significant resources from China to accelerate their growth and to expand their market potential,” he said.

The UCIS aims to facilitate collaboration between innovative technology companies, venture capitalists, private equity, startup accelerators and incubators.

It is also expected to help Chinese investors access and invest in the best-in-class technologies and products located in the US, as well as help US-based technology companies source investors and partners who can help them to access the Chinese market.

This year’s summit brought together more than 500 participants, including about 150 representatives of technology companies, 200 investors from China, and 150 representatives of innovative technologies companies from the US, who are seeking cross-border opportunities across a range of focused industries.