Global New Economy Conference 2019 Held by EO Company Opens in Shanghai
Global New Economy Conference is upgraded with a new name and broader topics. Topics ranging from Sci-Tech Innovation Board (STAR) and 5G to New Energy and Intelligent Manufacture will be covered in the three-day conference.
Global New Economy Conference 2019 (全球新经济年会), one of the major conferences held by EO Company (亿欧公司), opened at ShanghaiMart on June 12.
With the guidance of Shanghai Economic and Information Technology Commission (上海市经济和信息化委员会), Shanghai Municipal Commission of Commerce (上海市商务委员会), Shanghai Changning District People's Government (上海市长宁区人民政府), the conference, which runs through June 14, , is held under the auspices of Shanghai Changning District Youth Federation (上海市长宁区青年联合会) and EO Company with the theme of "Technological Innovation Leads the New Age of Intelligence."
Wang Bin (王彬), co-founder and CEO of EO Company, gave a keynote speech at the Leadership Summit. As one of the eight sub-conferences leading up to the other summits , it shed light on the topics that will be covered during the three-day event, such as the Sci-Tech Innovation Board (STAR), 5G, New Energy and Intelligent Manufacture.
“Compared with last year, the Global New Economy Conference is upgraded with a new name and broader topics,” said Wang Bin. “Moreover, we are fortunate to have invited winner of Nobel Prize in Economics, well-known investment bankers, investment institutions managers and representatives of many newfangled enterprises to share their interpretations of the new economy.”
It is the against this backdrop that EO Company became among the first third-party organizations to release a report on STAR, the first of its kind, at the beginning of this year.
The company’s systemic research of this subject over the past six months has led to the release/publication of a new report on the 100 companies hopeful of being listed on STAR.
Wang said through macro-economic data analysis, EO’s research team identified four key findings in this report, which are as follows:
1. Information technology (IT) contributes more and more to China's GDP growth;
2. Compared with the US stock market, the participation of the “new economy” represented by IT companies in China's A-share market is relatively low;
3. China’s R&D investment continues to increase, while R&D intensity is still lower than in the US;
4. The financial industry is increasing the scope and pace of opening up.
Wang also revealed findings suggesting the companies that have filed for an IPO on the much-anticipated Nasdaq-style tech board share four characteristics, which are:
1. The IPO hopefuls/candidates are relatively concentrated in certain industries, with biopharmaceutical companies being the most active;
2. Beijing has the largest number of companies applying to go public on STAR, and Standard No. 1 () has been the most adopted;
3. Most companies are profitable and have good growth prospects;
4. STAR candidates have strong technical attributes and they have accumulated a lot of intellectual property.
Wang concluded that the EO staff are digitizing and structuring the accumulated industrial resources and innovation case studies step by step. The company strives to create a digital engine of industrial innovation.
Moreover, as he explained, EO is keen on a move into the capital market “with a sense of awe and prudence.” Its sister company, EqualOcean, is part of EO’s baby steps toward expanding globally and bringing to the world innovative Chinese companies with the potential of becoming global players.