A parallel forum of the 2018 Global Unicorn Enterprise Forum kicked off in Silicon Valley, California, on May 18 local time. Panelists in Silicon Valley conducted conversations with their peers in Chengdu, Sichuan province through video conferencing.

Luo Linquan, Consul-General of the Chinese Consulate General in San Francisco, delivers a speech at the 2018 Global Unicorn Enterprise Forum. Photo by Zhang Jiexian from People’s Daily Online

Luo Linquan, Consul-General of the Chinese Consulate General in San Francisco, said the combined economic output of China and the U.S. accounts for 40 percent of the world's total. 

Luo said unicorn enterprises that are constantly emerging in both countries demonstrate that a deeper reach of multinational companies and technological innovation offer new opportunities for cooperation.

David Haubert, mayor of Dublin, California, who has spent 116 days in China over the past two years, said every time he went back to China, he saw new things, incredible development and a brighter future there. 

David Haubert, mayor of Dublin, California, delivers a speech at the 2018 Global Unicorn Enterprise Forum. Photo by Zhang Jiexian from People’s Daily Online

Haubert said the China-U.S. relationship is the most important bilateral relationship in the world. Technological innovation represented by the two countries will guide the world a century from now.

Ren Jianmin, Deputy Editor-in-Chief of People's Daily Online, delivers a speech at the 2018 Global Unicorn Enterprise Forum. Photo by Zhang Jiexian from People’s Daily Online

Ren Jianmin, Deputy Editor-in-Chief of People's Daily Online, said China’s economy is undergoing an in-depth adjustment. In this process, consumption and service have become the main drivers for economic growth, and Chinese enterprises are catching up with their international counterparts, some becoming leaders in the race.

Participants share their thoughts on the unicorn ecosystem in Silicon Valley at the 2018 Global Unicorn Enterprise Forum. Photo by Zhang Jiexian from People’s Daily Online

Cui Yi, professor of Materials Science and Engineering at Stanford University, said scientific research must have a view to globalization, and technological innovation should not be limited to research on new technologies, but should also keep an eye on the demands of society and the market, taking other factors into consideration.

Panelists at the forum in Silicon Valley conduct parallel conversations with their peers in Chengdu, Sichuan province through video conferencing. Photo by Zhang Jiexian from People’s Daily Online

U.S. guests said the Chinese government has given prominent support to unicorn companies within the country. Though China sees a lack of talent with strong execution, the country has an advantage in the number and quality of these talents.

Participants from Uber and Alibaba Cloud also shared their thoughts about the unicorn ecosystem in Silicon Valley. Guests in Chengdu and in Silicon Valley watched a promotional video about the Unicorn Island located in Tianfu New Area in Chengdu.

The Forum was hosted by People’s Daily Online and the Chengdu Municipal Government  jointly.