Zhou Xin didn't give Li Jingyi time to react at all, and took her on the last day of New Year's Day to board a special plane to Shenhai.

The semiconductor industry landing park that he agreed with the big man is the Zhangjiang Hi-Tech Park in Shenhai.

In the future, SMIC, which will become the hope of Huaguo's chip foundry, is ready to go in Zhangjiang at this time.

Therefore, Zhou Xin's last stop in China is in Shenhai, which is also the forefront of China's economic opening-up.

"Mr. Zhou, on behalf of the citizens of Shenhai, I welcome your arrival, and we welcome entrepreneurs like you who represent advanced productive forces to invest and start a business in Shenhai.

We have been planning to build the entire Zhangjiang area into the Silicon Valley of China.

In the original plan, Zhangjiang needed to include the information industry, the semiconductor industry, and the software industry at the same time.

To put it simply, what Silicon Valley has, we want to have, and what Silicon Valley does not have, we also want to include.

Like the biomedical industry, we also hope to promote these industries to take root in Zhangjiang.

We hope to absorb the advanced experience of Silicon Valley and give full play to our advantages to create a real Silicon Valley of China. ”

The Zhangjiang Hi-Tech Park has been planned since 1992 and is targeted at Silicon Valley.

Huaguo's coveting of high value-added industries did not come after 16 years, Huaguo has always known how precious high value-added industries are, and has always hoped to build its own high-value-added industries.

Zhangjiang's targets are integrated circuits, the information industry, the Internet, and biomedicine.

Regarding the development status of biomedicine, if you look at the understanding of this field 20 years ago, you will find that there is no essential difference.

At that time, Chen Zhu (Ph.D. in the field of hematology), vice president of the Huaguo Academy of Sciences, said: "Our R&D in the field of biomedicine is "holding a golden bowl to eat", and most of the funds are used to track the mainstream Western drugs in the West, and the R&D plans and project guides have almost become the product catalogs of foreign pharmaceutical companies.

China protects its Internet industry for a similar purpose.

Industries with high added value and no monopoly are conducive to class mobility.

It is difficult for Internet workers to buy a home in a first-tier city on their own, but they can easily achieve this goal by cashing out the company's options after listing.

Zhou Xin said: "Mr. Huang, I also hope to see a science and technology park similar to Silicon Valley in Huaguo, which will become the engine of Huaguo's high-tech industry.

There are two parks in the world that have done the best in this regard, one is Silicon Valley, and we don't need to go into too much detail about the success of Silicon Valley.

I believe that you should have sufficient investigation and in-depth research in the process of project establishment and follow-up research in Zhangjiang Hi-Tech Park.

In addition to Silicon Valley, there is another place called Hsinchu, which is in the bend, I don't know if you know about it.

Because during the process of the Ameriliken initiative to establish CAAS, I talked to a lot of scientists, engineers and entrepreneurs from the Bend region.

Hsinchu Park alone had a total of 50 listed companies last year, with a total capital of 8% of the entire industrial capital and 9% of the total annual trade.

Hsinchu Park can be said to be the same as Silicon Valley, which has achieved a good synergy effect of industry, university and research, and has given birth to advanced technology and industry leaders who dominate the world, and has a strong traction and radiation effect on the economy of the entire region.

After I came to Shenhai, I first went to Zhangjiang for a turn, and I was deeply impressed that there are only land resources and policy resources here, and human resources and financial resources are very scarce.

Whether it's Hsinchu or Silicon Valley, there are top university clusters located in it, such as universities in Shenhai, Fudan Jiaotong University or Tongji East China, which are too far from Zhangjiang.

Such a distance is difficult to form a good promotion of production, education and research.

When Team Leader Zhou took me to visit, he introduced me to Shenhai that Shenhai would plan a university area of more than 2,000 acres in Zhangjiang and move the top universities in Shenhai over. That's a good idea, but it's slower than I expected.

Because I heard from Team Leader Zhou that Zhangjiang began planning in 92, that is, the year of Nanxun, it has been seven years to this day, and the university district is still only on paper. ”

Team Leader Zhou is the deputy leader of the leadership team of Zhangjiang Hi-Tech Park, and Mr. Huang is the number one person in Shenhai.

Zhou Xin is very concerned about Zhangjiang, because the big man promised him a series of support and even the implementation of specific policies will be placed in Zhangjiang.

In the future, not to mention that tens of billions of dollars will have to be invested in this place, and Zhou Xin's devotion to Zhangjiang can be imagined.

Today's meeting room only has the leaders of Shenhai and Zhou Xin, so everyone chatted very directly.

"Mr. Zhou, because there are many high-tech parks in China, in 1988, the state approved the first high-tech park in the whole country, which is in Yanjing, which is now Zhongguancun.

In 1992, 26 high-tech parks, including the East Lake High-tech Development Zone in Zhangjiang and Jiangcheng, were approved.

In Shenhai alone, the parks approved by the state in 92 include Zhangjiang and Caohejing.

In the same year, Shenhai also approved the Science and Technology Park of Shenhai University of Technology, which is the second university science and technology park in the country.

The Science and Technology Park of Shenhai University of Technology was approved by the state to be included in the National High-tech Park in 93 years.

Shenhai University of Technology, Shenhai University of Science and Technology, Shenhai University and Shenhai College of Science and Technology have merged to form the new Shenhai University in the past few years, and the Shenhai University of Technology Science and Technology Park has been renamed Shenhai University Science and Technology Park.

In other words, there are a total of 3 high-tech parks in Shenhai, and it will take time to demonstrate where our resources will be tilted.

These three high-tech parks are also striving for support at the national level, and the municipal government is very difficult at the level of meat. Each park has its own advantages and disadvantages.

It wasn't until August last year that we clarified the principle of focusing on Zhangjiang.

From bus lines, subways to various factor trading markets, from all kinds of intermediary institutions to various university branches and scientific research institutes, this series of the city's superior resources need to be quickly assembled in Zhangjiang.

The mayor personally led the team to serve as the team leader of the Zhangjiang Hi-Tech Park, and all departments authorized Zhangjiang, and the affairs of the park can be solved in the park, and Zhangjiang is a special zone that is not a special zone in Shenhai. ”

Twenty years later, it is difficult to understand the urgency of development at that time, and almost everything is as fast as possible.

"We plan to focus on Zhangjiang for two years, and after two years, we hope that the indicators can exceed the sum of the eight years since Zhangjiang opened."

"After the goal of focusing is achieved, the government should take a step back and give full play to the leading role of the 'invisible hand' of the market in the allocation of resources and micro activation, so that enterprises can be self-reliant and self-reliant without too much care.

Whether it is during the focus on Zhangjiang or after the focus on Zhangjiang, we very much need entrepreneurs like Mr. Zhou to support Zhangjiang.

The support here is definitely not only financial support, but also support in terms of experience, insight, etc.

As an entrepreneur with rich entrepreneurial experience in Silicon Valley, Mr. Zhou hopes that you will ask us to follow the standards of Silicon Valley in the process of starting a business in Zhangjiang.

At the same time, it doesn't hurt to say that there are any comments and suggestions. ”

In the future, Zhouxin Entrepreneurship is Xinxin Technology, which was established in Zhangjiang, and most of the time is also in Shenhai.

He knows Zhang Jiang and even Shen Hai very well.

Was Zhang Jiang successful? From the perspective of Huaguo, it is absolutely successful, and among the high-tech parks established in 92, Zhangjiang is definitely the most successful one.

Today, when I heard about Shenhai's and even the national plan for Zhangjiang, it was not successful.

Zhang Jiang's achievements in the future are worthy of the country's expectations of it.

No matter which way you look at it, Zhangjiang has not met the country's expectations that it would be on par with Silicon Valley.

Silicon Valley is a bit far away, and it is more practical to compare Hsinchu and Zhangjiang.

Twenty years later, the output value of Hsinchu Park is much lower than that of Zhangjiang Science City, where the annual revenue is around 1.2 trillion RMB, while Hsinchu is only about 400 billion RMB.

However, Zhangjiang's revenue comes from many aspects, the revenue of integrated circuits is only 200 billion RMB, and Hsinchu is almost all integrated circuit-related industries.

This is still in the fifth year of the process of localization of integrated circuits.

However, Zhou Xin didn't have much to say, because in his opinion, Zhangjiang was far from expected in terms of high-tech breakthroughs.

It's not a matter of policy, it's a result of the material world.

With Silicon Valley and other parts of Asia in front of semiconductors, it is difficult for China to develop its own semiconductor industry.

This is a status quo that cannot be changed at the level of unilateral policy, and it requires the cooperation of the other side.

If it weren't for the cooperation of Ameriken and the joint efforts of the policies of the two sides, Huaguo Semiconductor would not have the opportunity for independent development at all.

"I think it's very good, I heard Team Leader Zhou talk in detail about the planning of the Zhangjiang Park.

I covered everything I could think of, but I didn't hear about the financial advantage.

I think Shenhai can set up a similar venture capital pilot organization to carry out venture capital investment in qualified high-tech enterprises in Zhangjiang Park.

For example, if the company needs 50 million yuan to maintain the operation of the company, then the bank will lend it 25 million yuan, and the venture capital institution will invest another 25 million yuan in it.

This is equivalent to sharing the risk.

Let me expand on it, we all know that the essence of venture capital is to invest extensively, I invest in 20 companies, as long as one of them is successful, then my income is guaranteed.

If the bank only lends to the enterprise, then once the loan is not repaid, it becomes a bad debt, and finally becomes a loss for the bank.

With the cooperation of venture capital institutions and banks, the investment and loan linkage can cover credit risk through excess returns.

Compared with Silicon Valley, Zhangjiang's only difference is in financial resources, foreign investors look down on China's integrated circuit enterprises, and domestic state-owned enterprises and private enterprises are even more lacking in this area.

My emerging investment will invest a lot in Zhangjiang's semiconductor companies, but first of all, the 10 billion US dollars will be invested gradually, not all at once.

In addition, even if tens of billions of dollars are still not enough for the entire industry, far from enough.

I think the Shenhai government has the ability to do this kind of exploration.

The company is located in Zhangjiang, and the Shenhai government is more capable than any other company to do a good job in pre-investment investigation and post-investment supervision, as well as risk due diligence.

On this one, you can refer to the Temasek model. ”

In terms of specific details, Team Leader Zhou will come forward to answer: "Mr. Zhou, the idea you put forward is very constructive.

We'll look deeper into this in the future. Our plan is to focus on the construction of human resources allocation, incubation environment, intermediary services, and enterprise credit system in the park, so as to create a market-oriented environment suitable for industrial development.

The enterprise credit system in this is actually for venture capital institutions to invest in enterprises in the park. ”

Zhou Xin said: "I feel that what I just said is still unclear.

Foreign capital is reluctant to invest in domestic semiconductor companies, not because they are afraid of risks.

These foreign investment institutions are all dogs, they are not afraid of being beaten, they are only afraid of not being able to eat meat.

Entrepreneurs in the domestic Internet industry can get millions of dollars from foreign investment institutions with a few PPTs, and foreign investment institutions are not worried about risks at this time?

Foreign investment institutions only want to pursue ultra-high returns, what they need to do is to invest in promising companies, and then put them on the market.

Huaguo's semiconductor companies will not have such an opportunity, at least not in the short term.

Whether it is the NASDAQ or the Hong Kong stock market near the south, Huaguo's semiconductor companies will not be able to pass the IPO hurdle in these places, and there will be no investors to take over, because they don't think Huaguo can have any valuable companies in the semiconductor field at all. It is even more difficult to list in the domestic capital market.

Therefore, no matter how good Shenhai is in terms of corporate credit and risk control, overseas capital will still not choose to invest in high-tech enterprises in Zhangjiang.

Even for me, I have my own purpose, and I hope to cultivate a supply chain that I can control in the process of investing in Huaguo Semiconductor Companies.

Only China's state-owned capital has the ability and conditions to accompany these high-tech enterprises to grow together.

In my opinion, the industry-university-research that Huaguo should do should also include, the school's experts help the state-owned capital to check, they are responsible for checking, whether the enterprise has technical content, the company's R & D personnel, and the level of core R & D experts.

Through the performance appraisal, the future of the company is highly tied to the experts who do the review.

For example, Company A, with a valuation of 50 million, hopes to obtain an investment of 25 million from state-owned capital and sell 50% of its shares.

So if this enterprise finally brings 10% of the income to the state-owned capital when it is liquidated, how much money can the experts get, and how much can the 20% income get.

If this enterprise is finally listed, the state-owned capital is dozens of times the income, and how much money can the experts who do the review can get, which can form a complete set of mechanisms.

If there is a loss, then how the expert will punish it also needs to have a mechanism limit.

Even if experts collude with enterprises to defraud the investment of state-owned capital, how will they be punished? ”

What Zhou Xin said was something very new, and none of the bigwigs here had heard of it.

Even the 100 billion chip fund did not play like this.

This is Zhou Xin's thinking in the process of entrepreneurship, which may not be applicable to the future, but it is very suitable for the present.

Because the current technology gap is not obvious enough, the core R&D team is strong enough and has financial support, which can achieve technological catch-up.

When the gap is too large, no matter how powerful the team is, it can only touch other people's taillights.

After listening to this, Team Leader Zhou nodded and said, "What Mr. Zhou said gave me a lot of inspiration.

I am reminded of the chaos I observed recently when I was researching high-tech parks in China.

It can be summed up in eight words: blindly following the trend, so ambitious. This is a common problem in the current high-tech parks.

In order to compete for projects and seek output value, we ignore the national conditions, find the best entry point in the market, and cultivate core technologies with independent intellectual property rights.

What Mr. Zhou just mentioned, it made me think that we can combine it.

Investment and loan linkage, so that experienced banks to help us to the first pass of the enterprise, they will start from the real business situation of the enterprise, to give the loan amount.

Then let the experts take the second pass, find out the enterprises with real core competitiveness, and make investments.

Finally, through the Zhangjiang Park, we will continue to track the development trends of these enterprises after the completion of the investment, and do a good job in providing services and supervising them to do a good job in the last pass. ”

Zhou Xin said: "Yes, I can add one more point, that is, the second pass of expert review, it is best to take the blind review method. ”

Prior to 1988, local governments were the main investment theme for local infrastructure, and no one was held accountable for the project's revenue.

Later, the main investor became a platform company, which is commonly known as an urban investment company.

It is not until the national level encourages the development of the photovoltaic industry that local governments see the opportunity, and photovoltaic is both an enterprise and an infrastructure, so a large number of platform companies under local governments invest in photovoltaic enterprises.

Finally, after the photovoltaic boom subsided and the production capacity far exceeded the demand, the local government suffered a huge financial loss.

However, this photovoltaic investment has also gradually made local governments begin to be interested in investing in enterprises.

One of the most typical representatives is He* Fei, 09 years to take out one-third of the city's financial revenue to introduce a loss of more than 1 billion points BOE.

Let the founder of BOE feel that all cities in the country are the most realistic.

The game proposed by Zhou Xin is a point-to-point precise investment, and it is likely to be only used in the high-tech field.

"Mr. Zhou has given us so much this time, and we have a lot of work to do.

The inspiration you have brought to us can help Zhangjiang to better serve in the subsequent development process. ”

Shen Hai's courtesy to him is very high.

As for whether the investment model he proposed in the follow-up can be implemented, Zhou Xin does not know.

But Zhou Xin hopes to be able to land.

"The set of investment methods summarized by Team Leader Zhou just now, we can also communicate in depth in the future.

Because Shenhai has adopted such a way to pass the three levels, I will be more at ease when I invest in the enterprises that have passed the customs.

Can we adopt such a method, for example, enterprise A needs 50 million yuan, the bank lends him 25 million yuan, and then Xinxing Investment and Shenhai's state-owned venture capital institutions jointly invest the remaining 25 million.

We can play synergies.

Provide financial services for more high-tech enterprises in the entire Shenhai area. ”

Zhou Xin hoped that Shen Hai would help check the gates, but Shen Hai was not like this.

They also hope to use Zhou Xin's vision to pick out the truly valuable enterprises.

Emerging investors are willing to invest, which is equivalent to another insurance.

"That's how we decided, let's study it carefully, and at the same time keep in touch with Manager Wu." Team Leader Zhou hurriedly said.

Zhou Xin's trip to China, I basically got everything I wanted, and the only regret is UnionPay, which is already in preparation.

It is expected to be officially established after the meeting in March.

Zhou Xin really wants to get involved in it, and if he can have UnionPay shares, to a certain extent, he will also rest with the country.

The number of words is gradually increasing, the crow is about to recover, and the king is back!

(End of chapter)