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The 2020 Qingdao Global Venture Capital Network Conference kicked off on May 8th. This year, the conference is being held as a Cloud Summit and the organizers use 5G and other advanced technologies to break the boundary of time and space. By holding the conference as a cloud summit, the organizers wanted to realize the multi-dimensional interaction of thousands of people on the same screen, 10,000 people in the same group, and millions of people online, and gather global resources and 100 elites from all walks of life. The aim of the conference is to build a high-end exchange and cooperation platform that brings together elites and experts from across political, academic, industrial and investment spheres.

Wang Qingxian, a member of the standing Committee of the Shandong Provincial CPC Committee and secretary of the Qingdao Municipal CPC Committee delivered a keynote speech.

At the meeting, Wang Qingxian, a member of the standing Committee of the Shandong Provincial CPC Committee and secretary of the Qingdao Municipal CPC Committee, said in his keynote speech that 2020 is an extraordinary year in the history of human civilization. As COVID-19 has already taken the form of a pandemic, the 2020 Qingdao Global Venture Capital Conference was held in the form of a cloud summit as scheduled. He believes that the world is changing, but Qingdao’s aim of building a world venture capital center will remain the same.

Wang Qingxian said that after the first global Qingdao venture capital conference was held on May 9, 2019, Qingdao venture capital rose to prominence rapidly, and the growth rate of fixed asset investment in the city reached 21.6%, the highest in seven years. At present, Qingdao ranks first in growth rate of fixed asset investment among 35 major cities in China.

In addition to that, Qingdao has increased cooperation with international venture capital and venture capital institutions from Europe, the United States, Japan, Southeast Asia and Russia. The investment direction of these funds is mainly concentrated in modern marine logistics, health care and other characteristic industries, as well as a new generation of information technology, biomedicine, energy conservation and environmental protection, new energy and new materials and other futuristic industries.

The conference invited eminent guests. In addition to the participants in previous conference to talk about the new and increased cooperation, this year’s conference also had some of the best minds from the last conference, and they were joined by other industry leaders in a cloud environment. Nearly one hundred eminent experts from the global academic, industrial and investment circles, including Hong Lei, president of China Securities Investment Fund Association, and Zhang Ruimin, chairman of Haier Group and chairman of Haier Group, and Zhang Ruimin, chairman of the board of directors and CEO of Haier Group, joined this year’s conference.

Fan Gang, director of China National Economic Research Institute and vice president of China Economic system Reform Association, Thomas Sargent, winner of the 2011 Nobel Prize in economics, and Steve Hoffman, a famous entrepreneur in Silicon Valley were among other notable personalities present at the summit.

Zhang Ruimin, chairman of the board of directors and CEO of Haier Group, delivered a speech titled ‘People To Create A New Growth Engine In The Internet Of Things Era’. He believes that enterprise innovation must integrate the Internet Of Things to fall into the misunderstanding of price war and to unite different brands to create new-age brands. In addition to that, enterprises should create new concepts and share the same with other enterprises, attract new species co-evolved by various industries and establish ecological brands.

Fan Gang, director of the China National Economic Research Institute and vice president of the China Economic system Reform Association, delivered a speech on the theme of Great changes and China’s Economic Development from the perspective of economic fundamentals and industry. He said that under the influence of the current global epidemic, combined with various conditions, China is the best investment destination, and investors should pay attention to the growth potential and seize the investment opportunities. He believes that there is great potential for development in the field of traditional living consumption, and the consumption of traditional manufacturing industries will also increase.

Thomas Sargent, the 2011 Nobel laureate in economics, shared his research results and thoughts with the participants on the topic of Financial challenges and opportunities facing China and the World in the Future. He believes that according to the optimized economic epidemiological model, even if the most sensible public policies are adopted, the world economy will still go through a long-term depression period, during when cooperation, interaction and mutual learning should be strengthened, and common interests should be established by different countries.

He said that after the global outbreak of the COVID-19 epidemic, the Chinese government and enterprises assisted other countries not only as a humanitarian practice, but also as a way to actively resist the economic depression. In the light of the global epidemic, the conference organizers took the cloud as the carrier and embraced latest technologies to hold this network conference.

Before the opening, more than 100,000 people filled in the information using a customized cloud client. The client not only provides participants with a simple and easy-to-use interface, high-definition and smooth audio and video experience, but also has real-time guest interaction, strong meeting collaboration ability, and supports 4K, 1080p, 720p high-definition video processing. It has the characteristics of multi-terminal access, meeting sharing, conference live broadcast and recording.

The conference, with the theme of ‘New Platform For International Cooperation And New Opportunities For Scientific And Technological Innovation Industry’, was sponsored by Qingdao Municipal Government, and it invited China Securities Investment Fund Industry Association as a guiding unit for a two-day meeting. The two-day meeting was held in the form of 1-4 – setting up one main network venue and four network parallel sub-venues.

The aim of the conference is to conduct in-depth discussions on cutting-edge issues and hot topics such as venture capital, industrial Internet, opportunities for scientific innovation under capital changes, and deep integration of emerging industries, and to provide authoritative and professional perspectives and viewpoints. In addition to that, the conference focused on the introduction of cutting-edge research results in the venture capital industry, fully reflecting on the conference’s industry-leading ability. During the 2020 conference, the Global Venture Capital Annual White Paper (2020) and the 2020 Qingdao Global Venture Capital Community Declaration were also published.

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