China Construction Bank joined hands with Plug and Play China to operate the Technology Incubator Platform, the first platform established by a domestic bank

Year 2019 is an important initial year in the financial industry. In August, the People’s Bank of China issued FinTech Development Plan (2019-2021) (Yin Fa[2019] No. 209). It emphasizes the need for continuous innovation in the financial industry, breaking through traditional ways of investment and loan methods, and promoting scientific and technological innovation and development.

On September 23, the Entrepreneur’s Harbor, an innovation incubation base jointly operated by China Construction Bank (CCB) and Plug and Play China was officially launched in Shenzhen. Xuefeng Ai, Deputy Mayor of Shenzhen, Yongqing Wang, Deputy Secretary of the Party Committee of China Construction Bank, Peter Xu, CEO of Plug and Play China, attended the launching ceremony.

Leaders jointly launched the Innovation Incubation Base

As a leader in the financial industry, CCB dares to break through the financial credit mechanism, tries to follow the wave of technological innovation, takes the lead in setting up the first Technology Incubator Platform in the industry – Entrepreneur’ s Harbor, dedicates to help the development of small and medium-sized enterprises with the new financial force.

In terms of incubation and acceleration, CCB has taken the initiative to cooperate with Plug and Play China, which has been developed in Fintech and other vertical fields for many years, to give full play to Plug and Play China’s rich experience and innovative resources in providing scientific and technological innovation services to hundreds of financial institutions, and to jointly create a new technological innovation ecosystem platform in the financial sector.

Speech by Xuefeng Ai, Deputy Mayor of Shenzhen

As the first technology incubator platform for scientific and technological innovation built by domestic banks, Entrepreneur’s Harbor will base on finance, bring in the global innovation incubation and acceleration model of Plug and Play, focus on areas such as 5G, AI, science and technology on cyberspace, biological message and biomedicine. It aims to bring the aggregation advantage of finance into full play, integrate real economy and finance, and establish the incubation fund for scientific and technological innovation, provide inclusive finance loans, support innovative small and micro enterprises, create a Five-in-One Integrated Incubation Ecosystem of “Finance+Platform+Scientific Research+Education+Service”, build an open and internationalized vertical acceleration platform for scientific and technological innovation.

This innovative practice not only responds to the requirements of the finance supply-side structural reform of the national strategy, but also is the concrete implementation of the new financial concept of CCB in the construction of the service demonstration pilot zone.

Speech by Yongqing Wang, Deputy Secretary of the Party Committee of China Construction Bank

As one of the important long-term focus areas of Plug and Play China, Fintech team will spare no effort to support the construction of Entrepreneur’s Harbor Innovation Incubation Base, leverage the advantages of global innovation resources, and work with CCB to build an interconnected innovation platform both online and offline.

Speech by Peter Xu, CEO of Plug and Play China

Peter Xu expressed in his speech that day:

Plug and Play will make use of our experience and resources in the field of innovation for more than 20 years to bring in global incubation and acceleration innovation patterns and ideas. Through the mature incubation acceleration model and the ecological layout of CCB, we shall attract high-quality sci-tech startups, investment institutions, universities and research institutes, core corporations and other resources at home and abroad, promoting the Construction of Entrepreneur’s Harbor & Innovation Incubation Base of Plug and Play China, and provide sci-tech startups with the direct support and cultivation to realize the unbounded and interconnected innovation acceleration.

Our guests take a look of the high-tech products of innovation incubation base

The base will be based in Shenzhen in the future and devote industry resources from both CCB and Plug and Play China, bring the window advantage of Shenzhen, link Guangdong-Hong Kong-Macao Greater Bay Area, radiate its influence across the country and become a “real harbor” for entrepreneurs and innovators, and jointly promote the innovative development of Fintech.