Techbridge Signed MOU with Guangzhou Runhui Science & Technology Park
Techbridge Ventures (“TBV”) and Guangzhou Runhui Science & Technology Park (“Runhui”) of China Resources Land (“CR Land”) signed a MOU in July 2020 to establish an International Innovation Center in Runhui. The Innovation Center will serve as a platform for TBV and Runhui to identify and support suitable Start-ups and Innovators to develop and commercialize their technologies in China.
Under the MOU, the two parties will develop initiatives to advance international collaboration including technology roadshows, investment pitching events, test-bedding projects and cross border technology transfer, to support overseas companies’ technology and business development in Guangzhou.
Guangzhou is the capital of Guangdong Province. As one of the key cities in the Guangdong-Hong Kong-Macau Greater Bay Area (GBA), Guangzhou is considered a global hub for trade and innovation. It ranked second in Forbes China’s list of “China Mainland's Best Commercial Cities” in 2017, and third in “China's Top 100 cities” in terms of economic development capacity. It is home to numerous industry-leading corporations, including China Southern Power Grid, Guangzhou Automobile Group, China Southern Airlines, Guangzhou Pharmaceuticals Corporation, etc. Two hundred and ninety seven (297) companies on the "Fortune 500" list have businesses in Guangzhou, of which one hundred and twenty (120) have established global or regional headquarters in Guangzhou. In 2018, Guangzhou reported a GDP of ¥2.3 trillion RMB ($347 billion USD).
Automobiles, electronics, and petrochemicals are the three key industries of Guangzhou and account for 55.5 percent of the city’s total GDP. Other industries including wholesale, retail finance, real estate, leasing and transportation services also contribute significantly to the city’s GDP.
ABOUT CHINA RESOURCES LAND LIMITED
China Resources Land Limited ("CR Land") is a subsidiary of China Resources Group, a China state-owned conglomerate with a Group Revenue of RMB 608.5 billion in 2018.
CR Land is a subsidiary of China Resource Group with key business activities in city construction and operation, and is one of the leading urban investors, developers and operators in China. CR Land reported a revenue of 172.74 billion HKD in 2019.
CR Land operates a wide range of businesses including residential development, investment property, urban redevelopment, property management, senior housing, leasing apartment, industrial funds, industrial property, cultural sports and educational property, cinema, construction, decoration, electromechanical and furniture etc. In 1996, it was listed in Hong Kong Stock Exchange and included in the Hong Kong Hang Seng Index constituent stocks in 2010.