Shanghai-Sichuan State-owned Enterprises Hold Cooperation Conference to Boost Technological Innovation Synergy

Recently, the "Gather Strength for Technological Innovation · Promote Coordinated Development" Shanghai-Sichuan State-owned Enterprises Cooperation Signing and Industry Matching Conference was successfully held at the Shanghai State Investment Science and Technology Innovation Building. Co-hosted by Shanghai State Investment, Shanghai Science and Technology Innovation Group and Sichuan Development (Holding) Co., Ltd., the event is based on the resource endowments of both regions, focusing on three key areas: capital cooperation, industrial ecological co-construction and innovation carrier coordination.

Xinhua News Agency reported that the conference aims to build a new cross-regional, cross-level and cross-field collaborative development paradigm for state-owned assets, supporting the overall national strategy. Shanghai State Investment and Shanghai Science and Technology Innovation Group completed their joint restructuring in April 2024, with the restructured Shanghai State Investment having total assets exceeding 140 billion yuan and a managed fund scale of about 170 billion yuan, ranking among the top state-owned venture capital platforms in China.

At the event, Sichuan Development (Holding) Co., Ltd. signed a strategic cooperation agreement with Shanghai Science and Technology Innovation Group. The two parties will serve as priority investment partners for each other, carrying out joint investment and industrial mergers and acquisitions in fields such as aerospace, biomedicine, artificial intelligence and integrated circuits. They will act as "long-term capital" and "patient capital" for technological innovation, steadily advancing the implementation of cooperation in the three key areas.

Nearly 100 representatives from state-owned capital operation platforms, industrial groups and hard technology enterprises in Shanghai and Sichuan attended the conference. People’s Network noted that Shanghai Science and Technology Innovation Group, under Shanghai State Investment, focuses on multiple tracks including integrated circuits and biomedicine, covering early-stage, growth and mature projects as well as mergers and acquisitions.

During the conference, 22 technological innovation enterprises carried out cooperation matching through project roadshows and flash promotions. The roadshows covered key areas such as aerospace, low-altitude economy and new energy storage, while the flash promotions focused on ecological environmental protection, intelligent manufacturing and new materials. Participants conducted in-depth exchanges, clarified cooperation directions and fully explored the potential of diversified industrial synergy.

This has laid a solid foundation for Shanghai and Sichuan state-owned enterprises to deepen cross-regional collaborative cooperation in the future. The collaborative cooperation between the two regions will give full play to their respective advantages, promote the flow and integration of capital, technology and talents, and inject strong momentum into the high-quality development of both Shanghai and Sichuan.

In the future, Shanghai and Sichuan state-owned enterprises will further deepen cooperation in core technological innovation fields, expand the scope of industrial collaboration, improve the efficiency of resource allocation, and strive to build a model for cross-regional synergy of state-owned assets, making greater contributions to serving the national strategic layout.