This year's Global Innovator's Conference, known as the APEC China Business Council (ACBC) annual conference, was held on August 1 in Shenzhen.

Xu Jinghong, chairman of Tsinghua Holdings, attended the event and spoke at the panel discussion on new technologies and innovative growth.

Xu Jinghong (M), chairman of Tsinghua Holdings Co Ltd, Li Dongsheng (2nd L), chairman and CEO of TCL Corporation, Liang Xinjun (2ndR), deputy chairman and CEO of Fosun Group and Bart Peterson (1st R), senior vice president of corporate affairs and communications of Eli Lilly and Company attend the ACBC annual conference on August 1 in Shenzhen, Guangdong province. [Photo provided to China Daily]

Referring to the elements necessary to push forward innovation, Xu pointed out that eight key factors -- policy, industry, university expertise, research, financing, procedures, trade and media resources -- are the pillars supporting Tsinghua Holdings' innovation. 

Xu stressed that people are the core to innovation, so enterprises should encourage extraordinary talent who can work outside the current thinking pattern and have visions for the future.

At the open conference, Xu spoke of the leading role of universities and research institutes in innovation. He said that many companies have long and profound cooperation with Tsinghua University.

Xu said that Tsinghua Holdings is committed to turning innovation technology into productivity.

Tsinghua Unigroup, a subsidiary of Tsinghua Holdings, has become the largest intelligent chip producer, and is collaborating with the Institute of Microelectronics at Tsinghua University on new technology commercialization.

Nuctech Company Limited, which originated in Tsinghua University, has developed into the world's biggest security inspection product manufacturer and security solutions supplier.

More than 60 major scientific and technological achievements from Tsinghua University have been commercialized into products and services through Tsinghua Holdings.

Tsinghua Holdings will invest 50 billion yuan ($7.52 billion) for research and development, and set up funding of 10 billion yuan for the industrialization of research results. At least 50 research achievements are expected to be commercialized.

Xu said that his company will serve as a bridge to link the university and the market to create greater value in innovation and entrepreneurship.

This year's ACBC annual conference focused on innovation, cross-border cooperation and sustainable development.

Entrepreneurs and investors from China, the United States, Australia and several other countries attended the event and participated in the panel discussions. 

ACBC was co-founded by entrepreneurs in 2013 in Beijing as a non-profit industrial and commercial organization.