International Chinese entrepreneurs and experts from 52 countries and regions recently gathered at a forum in Wenzhou, Zhejiang province, to foster the innovation and entrepreneurship of the new generation of Chinese living abroad.

The Forum on Overseas Chinese Innovation and Entrepreneurship was established in 2021 by the China Zhi Gong Party. It has evolved into an important platform to connect with returnee entrepreneurs and pool the forces of innovation and entrepreneurship. This year marked its debut in Zhejiang.

At the opening ceremony, Wang Wenxu, a member of the CPC Zhejiang Provincial Standing Committee and head of the United Front Work Department of the CPC Zhejiang Provincial Committee, emphasized the province's commitment to promoting innovation.

Wang expressed hope that young talent living abroad could leverage their roles in advancing new quality productive forces through innovation and entrepreneurship, and propel innovations made in Zhejiang onto the world stage.

Zhejiang boasts more than 2 million natives living in 180 countries and regions, who have fueled local development via investments, philanthropy, and cross-border collaboration.

Wenzhou is one of the biggest hometowns of Chinese living abroad in the province, with 836,000 natives venturing internationally, forming a network connecting the city to the world.

Zhang Zhenfeng, Party secretary of Wenzhou, said that the city is transforming into a high-level open and innovative region with support systems tailored to empower the entrepreneurship of Chinese youth living abroad.

A highlight of the forum was the announcement of winners at the conference's project selection contest. Over 355 teams worldwide competed, yielding projects in AI, biological medicine, new energy, and other sectors.

Li Junpei won the first prize in the high-tech category of the contest. Li is the chairman of Zhejiang Tsaihua Technology, a high-tech enterprise based in Shaoxing specializing in the research and development of macromolecular colorants.

"As the new generation, our entrepreneurship should be more about value competition, and value stems from innovation," Li said. He met his biggest client at the contest, who was attracted by his innovative advantages in the field of color chemical materials.

Li received investments from the older generation of Chinese businesspeople living abroad when he started his business in Shaoxing. "The older generation not only offered me financial support but also recommended resources to me," Li added. "I hope I can pass the warmth to more youth in the future."