Backgrounder: U.S.-China Innovation and Investment Summit

Source: Xinhua| 2018-05-15 03:18:22|Editor: Yurou
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HOUSTON, May 14 (Xinhua) -- The third U.S.-China Innovation and Investment Summit (UCIS) is held Monday and Tuesday in Houston with the participation of about 500 senior officials and entrepreneurs from the two countries.

Supported by the Ministry of Science and Technology of China and Chinese Consulate General in Houston, UCIS is cohosted by the China Science and Technology Exchange Center (CSTEC) and U.S. China Innovation Alliance (UCIA).

UCIS was listed as the one of the key programs in the science and technology area for the first U.S.-China Social and Cultural Dialogue (SCD) which was co-chaired by former U.S. Secretary of State Rex Tillerson and former Chinese Vice Premier Liu Yandong in 2017.

U.S. and Chinese leaders initiated the SCD in April 2017 during their meeting at the seaside Mar-a-Lago resort in the U.S. state of Florida, pledging to expand mutually beneficial cooperation and manage differences on the basis of mutual respect.

The UCIS aims to facilitate collaboration between innovative technology companies, venture capitalists, private equity, startup accelerators and incubators.

It is also expected to help Chinese investors access and invest in the best-in-class technologies and products located in the United States, as well as help U.S.-based technology companies source investors and partners who can help them access the Chinese market.

The two past summits successfully promoted the integration of resources between China and the United States and served as an incubator and accelerator for Chinese and American high-tech companies. UCIS has become a high-profile event in U.S.-China investment and technology cooperation.

This year's summit, or UCIS 2018, brings together more than 500 participants, including over 200 representatives of industry-leading enterprises, investment firms and innovative companies from China, and 200 representatives of innovative technology companies from the United States that are seeking cross-border opportunities across a range of focused industries.

As a platform for U.S. companies to leverage significant resources from China to accelerate their growth and to expand their market potential, UCIS 2018 holds such events as plenary sessions, forums, projects promotion and competition, exhibition and B2B matchmaking meeting.