The 2023 Qingdao Global Venture Capital Conference (GVCC) commenced on May 12 in Qingdao, a vibrant city in China's Shandong province. During the prestigious event, the Qingdao West Coast New Area (Qingdao WCNA) inked agreements for six fund projects, amounting to a remarkable total investment of 10.7 billion yuan ($1.54 billion).
As part of GVCC's ambitious agenda, the conference aims to catalyze capital accumulation as well as bolster the development and expansion of crucial industrial chains within the region. The six fund projects encompass a diverse range of sectors, including technological innovation, rural revitalization, biomedicine, and cultural and tourism consumption.
In recent years, Qingdao WCNA has been steadfastly committed to cultivating global venture capital and establishing a high-standard, cross-border fund center in Qingdao. This has necessitated the integration of essential resources, such as capital, talent, and technology, in order to facilitate innovation and entrepreneurship.
As it stands, the area has successfully drawn in 48 registered fund managers and 259 recorded funds, amassing a subscribed scale of 104.95 billion yuan.
Moreover, the area has hosted an impressive array of over 30 multi-level roadshows, which have seen private equity funds inject a tremendous 330.41 billion yuan into 627 external projects. Notably, 154 of these projects are local, with a combined value of 151.72 billion yuan, and they span across an array of industries such as marine, agriculture, intelligent manufacturing, and renewable energy and environmental protection.
The 2023 Qingdao Global Venture Capital Conference opens on May 12 in Qingdao. [Photo/WeChat account: qdxihaianfabu]
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