CHENGDU, Aug. 4 (NBD) -- Aiming at leading the way in China, Guangzhou is to host the country's first venture week.

Scheduled to open on August 7, the event will place an emphasis on the new-generation information technologies, artificial intelligence, and biological medicine, and push the integration of innovation, industry, talent, and capital chains.

The Guangzhou Science and Technology Innovation Committee will also release a draft regulation on speeding up venture capital investment to create a platform for the better communication between innovative enterprises, venture capital companies, and banks, thereby improving Guangzhou's influence across the country, Qin Haiou, General Manager of the Guangzhou Municipal Science and Technology Finance Service Center, said in an interview with NBD.

He believes that Guangzhou has great potentials in this respect, as entrepreneurs there are pragmatic. But they are not good at promoting themselves and their potentials need to be unleashed.

Zero2IPO Group Co-Chairman Yuan Runbin echoed Qin's viewpoint, saying that valuation of enterprises in Guangzhou are at a relatively low level as compared to those in other places across China, and that they care more about revenue and cash flow.

Building a "capital of venture investment" doesn't simply refers to capital introduction, and what matters more is the existence of plenty of high-tech enterprises, Qin told NBD. With further policy boost, capital will accordingly flow into the city.

According to the development plan, the Guangzhou Municipal Science and Technology Finance Service Center will set up a fund totaling 5 billion yuan (about 744.8 million U.S. dollars) to boost the industrialization of sci-tech achievements, increase the financing size for small/medium-sized enterprises to 10 billion yuan (about 1.5 billion U.S. dollars), and promote the listing of technological enterprises.

Behind Guangzhou's push to build itself a "capital of venture investment" is the ambition to sharpen its urban competitiveness.

Guangzhou mayor Chen Jianhua once said in an interview that the city should learn experience from Shenzhen, which built up a sonorous fame based on the effective commercialization of research findings.

In the 13th five-year plan, the city also underscored its mission to make itself an international hub for sci-tech innovation.

In this regard, Zhan Decun, Deputy Director of the Guangzhou Science and Technology Innovation Committee, has strong confidence, noting that as a millennium business center, Guangzhou has the ability to carry out sci-tech innovation and transform sci-tech achievements.

Email: lansuying@nbd.com.cn