China Fortune Land Development (CFLD), a Shanghai-based industrial zone developer and operator, has launched a wholly owned technology-based incubator in Silicon Valley.
The project, launched on February 28, aims at connecting US and China’s technology industries.
Hu Zhenyu, President CFLD, said: “CFLD wishes to seek a bridge connecting Chinese and American industries through the incubator.”
The incubator aims to invest in high-tech industries such as such as clean energy, next-generation information technologies and bio-medicine. Its launch represents a key milestone in CFLD’s global expansion plans.
CFLD aims to accelerate US projects at the Silicon Valley base, and eventually move these projects to China for further development, in the process attempting to build a completely new industrial value chain.
Because the US has advanced technology at its disposal and China has a huge market, this strategy seems to be a mutually beneficial. While US innovation can get access to a much larger market, China will have the opportunity to further develop its own technology sector.