The development and breakthrough of “hard technologies” (i.e. key and core technologies) requires indomitable and persistent efforts of scientific researchers, as well as companionship of and support from long-cycle “patient capital”.

On May 28, at the Forum of Hard Technology Investment and Development, a sub-forum of the 2023 Zhongguancun Forum, Jingxi Industry Guidance Fund was launched, which is specialized in hard technology investment.

The Fund was jointly established by ZGC Development Group and the government of Mentougou District of Beijing. Being patient investors in the AI industry, they will strive to translate ZGC Development Group’s hard-technology innovation advantages into a driving force of high-quality development across various industries in western Beijing.

The fund has a size of 1.01 billion yuan and a duration of 10 years. In line with the principle of “government guidance, market-oriented operation, capital leverage, progressive development and risk prevention”, it will concentrate on investing in “hard technologies”, such as artificial intelligence, medicine and health.

In the future, the fund will further expand its financing channels, absorb social capital, and set up specialized sub-funds in key industries and subdivisions, such as AI, biomedicine, and intelligent manufacturing. 

As an integrated service provider in the innovation ecosystem, ZGC Development Group has been actively collaborating with local governments in recent years to establish a government-enterprise cooperation mechanism that can fully leverage each other’s strengths, share interests and promote common development.

Being a “partner” of integration service provider in the innovative ecosystem, the Group actively pools resources and attracts talent to serve innovators and start-ups based on the development orientation of local governments. It works with local governments to build distinctive regional innovation ecosystems, supporting the development of world-leading science parks.

The signing and release of this Jingxi Industry Guidance Fund represented an important move taken by the Group to build a new type of government-enterprise partnership and establish an AI industry cluster in collaboration with Mentougou District.

ZGC Development Group and Mentougou District government signed a comprehensive collaboration agreement in 2022, aimed at “building a new model of government-enterprise relationship”.

With a focus on Zhongguancun (Jingxi) Artificial Intelligence Science and Technology Park, the Group has introduced more than 200 innovative ecological integrated service products into Mentougou District by integrating domestic and foreign industrial innovation resources.

It strives to build an international, intelligent and low-carbon high-quality technology carrier group, which caters to the development needs of Mentougou’s high-end and sophisticated industrial projects throughout their life cycles, and serves as an important base and characteristic industrial belt for accelerating the advancement of AI technology in Beijing.

The construction of the first phase of Zhongguancun (Jingxi) Artificial Intelligence Science and Technology Park commenced in 2003. After putting into use by the end of 2025, it is expected to boost the annual output value of the regional AI industry to 10 billion yuan.