Tsinghua Holdings Co Ltd will allocate 50 billion yuan ($7.46 billion) in technological research and development and accelerate the commercial utilization of at least 50 state-of-the-art technologies in the next five years.

Tsinghua Holdings, aiming to become a leading innovative technology company, set the goal in its five-year plan called Footstone that was launched at a Summer Davos theme forum on June 26.

The Footstone Plan stresses transformation of major and core science and technology research results into marketable products and it will help make at least five key scientific research results reach the top level in the world.

To achieve the goal, Tsinghua Holdings has set up a fund and will build a 500,000 sqm base that work together to boost technology transfer.

Xu Jinghong, chairman of Tsinghua Holdings, said that the company will build technology-focused industries featuring industry-university-research integration to gain competitiveness globally through the plan.

The launch ceremony of “Footstone Plan” at a Summer Davos theme forum on June 26.

The Footstone Plan targets key technologies and equipment in nine fields, such as information networks, advanced manufacturing, energy and environmental protection, smart and safe cities, health, new materials, modern services, and modern defense.

Tsinghua Holdings will provide support for talented people, capital, and space, boost industrial convergence, and build an ecosystem to make it possible, while introducing policies and management operation services.  

"Our goal is not to catch up but to take the lead in the industries of national strategic importance," the chairman said.

To date, Tsinghua Holdings has developed a raft of high-tech enterprises, such as Nuctech Co Ltd, a security inspection product manufacturer, CapitalBio Corporation, Spreadtrum Communications, and Beijing Global Safety Technology Co, whose technologies outperform those of its global competitors.

By the end of 2015, Tsinghua Holdings' subsidiaries had applied for more than 30,000 patents in China and elsewhere, with R&D personnel accounting for over 50 percent of all employees in those technology-led companies. The company’s research input accounted for nine percent of its income in 2015.

The company commercialized 44 national key scientific achievements, including 19 obtaining National Awards for Technological Invention and 25 winning National Science and Technology Progress Award, with breakthrough in over 60 key technologies.