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Chinese investment surges in Silicon Valley

(CRI Online)    09:04, September 16, 2015
Chinese investment surges in Silicon Valley
An undated photo shows the exhibition center of the Zhongguancun Science Park in Beijing. [Photo: zgc.gov.cn]

China's so-called "Silicon Valley" is looking toward its name-sake in the United States as an investment opportunity.

Zhongguancun, a high-tech hub in Beijing, is posed to open an innovation center in Silicon Valley.

It's a 24-million U.S. dollar investment.

Luo Wei is the CEO of the overseas subsidiary of the Zhongguancun Development Group.

"For those who start businesses overseas, they will feel like entering Zhongguancun when they come here."

Qihoo 360 is one of the firms backing the new innovation center.

Cao Shu with Qihoo says they've already managed to attract 10 new start-ups to take part in the new center.

"Through investment and development, we can establish connections with talented people in Silicon Valley. It is like an indirect way of recruitment."

Wu Jun is with zPark Capital.

It's a venture-capital firm which focuses mostly on start-ups.

He says one of the companies they're investing in at the new innovation center is a drone manufacturing company based in San Francisco.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Wu Chengliang,Yao Chun)

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