CSITF woos Silicon Valley technology companies to join the fair in 2014

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Feng Zhe, deputy director of the executive office of the organizing committee preparatory office said at the CSITF is a brand-new platform to exhibit new ideas, technologies for various industries.(People’s Daily Online/ Han Shasha)

San Francisco, Sept.15-- The China (Shanghai) International Technology Exchange Fair (CSITF) 2014 San Francisco Bay Area Silicon Valley road show was held in Oakland on September 14 to attract technological and innovative companies to attend the fair next year.

Feng Zhe, deputy director of the executive office of the organizing committee preparatory office said at the promotional meeting that the CSITF is composed of exhibitions, forums & events and professional services. It’s a brand-new platform to exhibit new ideas, technologies for various industries, a platform to promote development of national trade and technology, and also a platform to advance communication among nations.

Feng introduced that the target exhibitors are the SOES that would like to buy or sell the technologies, the research institutions and the well-known enterprises. He emphasized that in terms of the well-known enterprise, they do not only focus on the Fortune 500. “We believe that more business in the United States and Europe are small and medium enterprises. They have their own technology, maybe due to the capital shortage, they cannot transfer the technology into mass manufacturing. China welcome such kind of companies,” he said.

Jean Quan, mayor of the Oakland said “because of the technology, we can learn from each other.” She said that people to people, public to private organizations are absolutely critical to promote mutual communication for both China and the United States.

The first CSITF was held in May this year with thousands of visitors. The second one will be held between April 24 and 26 in 2014.

Feng said that innovation-driven enterprises from Silicon Valley are welcome to the Fair in Shanghai. It’s predicted that the market demand for technology in China will amount to 1.2 trillion U.S. Dollars in next five years, which is for sure a great opportunity for the United States, for California as well as the rest of the world.

China began to import advanced technologies in 1978 and that year alone China’s technology trade topped US$3.6 billion. In 2012, China’s technology trade reached 634.7 billion yuan (US$103.27 billion), average an annual growth rate of about 20 percent, a 20-time increase over 1978. In order to push forward the trade in technology, China Ministry of Commerce, Ministry of Science and Technology, State Intellectual Property Office and Shanghai Municipality work together to initiate the CSITF.

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