On July 3, Director Zhou Xu met Mr. Bai Jianwei, Assistant Director of the Science and Technology Promotion Foundation, the Chinese Academy of Sciences. The officers in industry promotion department accompanied the meet.   

Founded in 1987, Science and Technology Promotion Foundation, the Chinese Academy of Sciences, is a nonbanking financial institution approved by the People's Bank of China. It is one of the earliest institutions in China to launch the transfer and transformation of scientific and technological achievements and promote the development of high-tech industries. It is also one of the earliest institutions with private equity fund investment in China. Mr. Bai introduced that the Foundation had recently transformed into a wholly-owned capital platform holding by the company of the Chinese Academy of Sciences. The company has a total assets of 477.4 billion yuan. The Foundation is responsible for the investor’s rights of the wholly-owned, holding and participating state-owned assets of the enterprises directly invested by the Chinese Academy of Sciences. At present, the Foundation owns nearly 50 share-holding companies such as Lenovo Cmi Holdings Ltd, Zhongke group Limited by Share Ltd, and more than 760 enterprises affiliated to the Chinese Academy of Sciences. After the restructuration, China and the United States Green Fund will jointly initiate the establishment of the National Science Green Development Fund. Relying on the strong science and technology of the Chinese Academy of Sciences and the innovative financial platform of the Chinese and American Green Fund, the Foundation will focus on investment in clean technology, digital technology, large health industry, creative industries and other related fields of green development. The innovation and cooperation mode of "industry + technology + capital" will elevate the transfer and transformation of science and technology achievements and the development of green high-tech industries. The total scale of the fund will reach RMB 20 billion, and the initial fund-raising amount at present is RMB 8 billion. Director Zhou Xu welcomed and appreciated the establishment of the National Science Green Development Fund. He said that Beijing, as a national center of science and technology innovation, has its unique advantages in terms of talent, technology, innovation atmosphere, market and so on. The Bureau will actively assist in the transformation of the Foundation and the establishment of the National Science and Technology Green Fund, help to liaise with the relevant municipal authorities and the relevant regional governments in the registration and approval process, and provide service and support for office location and late project docking.