CHENGDU, May 18 -- An investment fund aggregating more than 1 billion yuan (157 million U.S. dollars) has been signed to promote China-EU cooperation at the first EU-China Tech Scale-up Summit, which opened in southwest China's Chengdu City Friday.
Nearly 70 representatives of investment organizations and tech scale-up companies from 21 European countries attended the summit to meet with 40 investors and 70-plus tech companies in China.
The fund, co-launched by the management committee of Chengdu High-tech Industrial Development Zone and China Taiping Investment Holdings Company, is aimed at promoting technology transfer and achievement transformation between China and the EU. Agreements on establishing a China center of the International Venture Club and a local branch of the China-EU technology trading center were also announced at the opening ceremony.
The summit is the first event held in China by Tech Tour, an investor-oriented community in Europe that connects entrepreneurs, investors and corporate partners across the world.
Chengdu is also the host city of the EU-China Business and Technology Cooperation Fair, which has attracted more than 3,000 European companies to participate during the past 12 sessions.
Chengdu has eight regular direct flight routes to Europe, and the most China-Europe freight trains in the country.