On April 14-16, 2017, “Penn Wharton China Summit 2017” was successfully held in the campus of University of Pennsylvania in Philadelphia, Pennsylvania, USA. Zhang Qiyue, Chinese Consul General in New York, Geoffrey Garrett, Dean of the Wharton School of the University of Pennsylvania, Tad Smith, Global CEO of Sotheby’s, Wang Jiwu, Chairman of TusHoldings, Pan Shiyi, Chairman of SOHO China, Zhou Xin, Chairman of E-House China, Li Ning, Chairman of Li-Ning Company, Zhang Yiming, CEO of Toutiao, Wang Qiang, Partner of ZhenFund, Sun Jian, CEO of Home Inn, Huang Xiaojie, CEO of JD Capital, Xu Chen, President of Bank of China USA and Chairman of China General Chamber of Commerce - U.S.A., Hu Haiping, Vice Chairman of Shanshan Corporation, and Zhang Jizhong, a famous director, attended this Summit. More than 1,000 outstanding corporate representatives and overseas student representatives from the whole America participated in this Summit.
Board Chairman Wang Jiwu (left) and Consul General Zhang Qiyue
The theme of this Summit is “China to the World – Integration in Globalization Strategy, the World to China – Challenges in Supply Side Reform”. In addition to the opening ceremony, this Summit had totally seven panels, respectively on real estate, finance, Internet, education, medical care, culture & art, corporate restructuring & expansion, etc. At the opening ceremony, Chairman Wang Jiwu made a keynote speech titled “Triple Helix Model and Clustering Innovation”, in which he systematically introduced the leap-forward development of TusHoldings driven by the triple helix model and supported by the theory of clustering innovation.
Chairman Wang Jiwu giving a keynote speech at the opening ceremony
In his speech, Chairman Wang Jiwu pointed out that the current world economy was still in a deep quagmire, and China’s economy had not got out of the bottom of the U-shaped curve. As the second largest economy in the world, China is attracting the attention of the whole world by virtue of its economic reform, and China’s economy has entered into a “new normal” state. Only through the strategic development of emerging industries and the upgrading of traditional industries driven by technological innovation can China’s economy get out of the bottom of the U-shaped curve. TusHoldings, the first technological service enterprise of hundred-billion grade in China, is obligated and able to contribute its wisdom and intelligence in the new round of industrial restructuring in both China and the whole world. After 23 years of development, TusHoldings has grown into a famous technological service enterprise with comprehensive business capacity from a science park planning, construction and operation management service provider, and has become an important engine for the innovation & entrepreneurship ecosystem construction and industrial upgrading & transformation in China.
At present, China’s economic development is in a key period of transformation, upgrading and transition. It will continuously deepen the supply-side structural reform, quicken industrial transformation & upgrading, reduce the proportion of labor-intensive and resource-intensive industries, and increase the proportion of technology-intensive industries. However, there are many difficulties in integration and promotion of new technologies. Wang Jiwu pointed out in his speech that the unique “triple helix” development mode originated by TusHoldings can be effectively used for such integration and promotion.
Based on more than 20 years of practice in the field of technological innovation, TusHoldings brought forward in a creative way the “triple helix” model to drive innovation, which is an innovation model with organic interaction of three helixes, respectively “park + industry + finance”, “technology + capital + industry”, and “government + enterprise + university”. This model is an enriched and developed version of the helix of “capital + industry + university”, and upgrades the former single plane helix model to a 3D triple helix system. TusHoldings is building an innovation & entrepreneurship ecosystem using the helix of “park + industry + finance”. At the time of establishment, each science park of TusHoldings is equipped with a dominant industry and at least two industrial funds and venture capital funds. In addition, this helix is used in combination with the other two helixes to achieve common benefits of park, industry and capital. The helix of “technology + capital + industry” is used to promote industrial upgrading and emerging industry development. Based on mastery of core technologies and supported by capital from funds and other sources, upgrading of traditional industries can be comprehensively promoted, or the settlement and development of strategic emerging industries can be achieved. The helix of “government + enterprise + university” is used to construct the innovation & entrepreneurship system and mechanism. A high-level “friend circle” centered by TusHoldings and its numerous subsidiaries and affiliates is built with global governments, universities and scientific research institutions, so that the government-industry-university relationship is no longer a simplex but a helix among three systems.
The practice of TusHoldings’ in the helix of “government + enterprise + university” started from the cooperation among Tsinghua University, TusHoldings and local governments, based on which each element in such cooperation is extended to a new helix. For example, the cooperation between Tus-Clean Energy Group and Qinghai University is not a simplex cooperation among a single government, a single enterprise and a single university. TusHoldings and its partners jointly established “Tus-New Energy School of Qinghai University” by integrating the new energy related resources of Qinghai University, Tsinghua University and other universities to promote talent cultivation and scientific research in the field of new energy and provide talents and technical supports for Tus-Clean Energy Group. The two parties cooperated comprehensively based on this school. They jointly developed a series of key new energy technologies, built demonstration projects, and promoted the industrialization of scientific research findings together with many enterprises; corresponding courses and job opportunities were offered to the talents with special skills, so as to promote the development of Qinghai University in the field of new energy and build an advanced talent cultivation and scientific research institution related to new energy in China. In this process, TusHoldings also integrated many resources of provincial and municipal governments in Qinghai and other areas in China. The triple helix model originated by TusHoldings, together with TusHoldings’ increasingly strong teams and organizations and the unique management & control system as well as the reward & punishment mechanism and the clustering innovation theory based on such a triple helix are showing strong vitality in practice.
Site of the Opening Ceremony
With respect to the predicament of the world economy, Wang Jiwu expressed that the world economy could get out of the quagmire only by virtue of global coordinated technological innovation. Nowadays, together with the increasing globalization, the coordinated technological innovation throughout the world is developing rapidly, and the cooperation between China and America, both major countries of innovation with global influence, would be foundation and premises for global coordinated technological innovation. Facing the increasingly severe and complicated common challenges, the two countries are in an urgent need to promote all-round and high-level cooperation in technological innovation as a key step of building new type relationship between China and America.
Wang Jiwu pointed out that, along with the continued economic development, the interaction and symbiosis among the primary, the secondary and the tertiary industries were continuously enhanced, and the current industrial and economic development status could be hardly explained with traditional industrial division theories. At present, the industries can be classified into three types, respectively R&D economy, real economy and service economy. Among them, R&D economy takes the most important position, and will increasingly play a role of engine for economic development. With a global view, the proportions of R&D sectors in GDP are gradually increasing, and such proportion has become an important index of national economic development. Generally, a country with higher proportion of R&D sector and higher growth rate of such proportion has better development. Nowadays, the competition in the world is actually competition in innovation, especially technological innovation. This has become a common feature of technological enterprises in both China and America. Wang Jiwu expressed that this journey of the delegation of TusHoldings led by him to America was a journey of promoting Sino-US cooperation in science and technology. On April 13, the delegation of TusHoldings led by Wang Jiwu visited the global headquarters of Honeywell located in Morristown, New Jersey, USA, and had a deep exchange with Darius Adamczyk, President and CEO of Honeywell, concerning cooperation matters in joint building of international incubation brands, building of Sino-US innovation platform, establishment of industrial buyout funds, etc.
Tad Smith, Global CEO of Sotheby’s, Zhang Qiyue, Chinese Consul General in New York, Geoffrey Garrett, Dean of The Wharton School of the University of Pennsylvania, Zhang Jizhong, a famous director, and Wang Jiwu, Chairman of TusHoldings (from left to right) are exchanging opinions with the audience
At the end of his speech, Wang Jiwu expressed that, as a tie of Sino-US exchange, Penn Wharton China Summit (PWCS) gathered many elites in China and America and contributed wisdom and intelligence to world economic development and cooperation. He also expected that PWCS could be held in China and in Tsinghua University in future, and TusHoldings was willing to support such meaningful event. He wished to get together with these elites from China and America again.
After the meeting, Wang Jiwu was interviewed by People’s Daily, Xinhua News and local media in America, and answered questions of journalists concerning supply-side reform, technological innovation, Sino-US cooperation in the new age, etc. Yang Ming, Assistant Chairman of TusHoldings and COO of TUS International, Li Lei, Co-chairman of Tus America, and Zhang Jiabing, President of Tus America, also attended this summit.
Penn Wharton China Summit (PWCS), organized by Penn Wharton China Center, is devoted to constructing the largest non-governmental tie between overseas students of China and the motherland in America, building an exchange platform for enlightening and employment of overseas elite, connecting outstanding students and social backbones in China and America, linking outstanding Chinese enterprises with outstanding overseas students, and promoting dialogs between enterprisers in various industries in China and America. It is expected that PWCS can make contribution to construction of new type relationship between China and America, promote exchange and understanding, enhance cooperation and trust, and achieve win-win development of these two countries.