July 24 (NBD) -- The first-ever China-U.S. Entrepreneur and Investment Summit held by People's Daily Online, themed on "Smart Interconnection, Innovative Future," kicked off Saturday in Silicon Valley, California, the United States.

Focusing on the present and future of Chinese and American innovation and venture capital, the summit aims to provide a platform for the two nations' cooperation in science, technology, innovation and investment.

Tang Weihong, vice president of People's Daily Online 

Addressing the two nations' cooperation in the venture capital domain, People's Daily Online Vice President Tang Weihong said that the tie-up should focus on emerging technologies that benefit the real economy and support early-phase projects and small enterprises, as well as contributing to building a community with a shared future for mankind.

Li Ang, deputy director of Sichuan Tianfu New Area Chengdu Management Committee  

It's noteworthy that Chengdu took the opportunity to present itself at the summit. As one of the most economically developed city in southwest China, Chengdu houses 16 consulates and 278 Fortune 500 companies. The provincial capital embraced new opportunities after Sichuan Tianfu New Area was established in 2014.

Li Ang, deputy director of Sichuan Tianfu New Area Chengdu Management Committee, noted in his speech that Tianfu New Area, with its preferential policies and vast growth prospect, will grow into a core growth engine to drive China's economic development together with 18 other state-level new areas including Xiongan New Area and Pudong New Area.

Zhao Yahui (left), general manager of People's Venture Capital, and Lei Ping (right), chairwoman and editor-in-chief of NBD  

The summit also witnessed the establishment of a blockchain-based media lab by People's Daily Online's investment arm People's Venture Capital and the financial omnimedia outlet National Business Daily (NBD).

Lei Ping, chairwoman and editor-in-chief of NBD, elaborated on three aspects of research which can be done by the lab, saying that the blockchain technology can be exploited to settle pain points in information verification, source tracing and copyright protection, to provide solutions for ensuring information safety, protecting privacy, and guarding against online rumors and violence, and to improve the credibility mechanism in social media communication.

Panel discussion 

As one of the global partners of People's Daily Online, NBD is on the path to expanding its global presence. The media agency on Saturday announced the opening of its first overseas office in west U.S., which is viewed as the starting point for the company to reach out to the rest of the world.

Moreover, NBD and People's Daily Online have jointly founded an investment management firm which is aimed at setting up a fund of funds to promote the cultural creativity industry of Chengdu and across the country.

Email: gaohan@nbd.com.cn