Editor's note: Xin Ge, a special commentator on current affairs for CGTN, is an associate professor at the School of Public Economics and Administration, Shanghai University of Finance and Economics. The article reflects the author's opinions and not necessarily the views of CGTN. 

The Zhongguancun (ZGC) Forum, a state-level platform for global scientific and technological (sci-tech) exchanges and cooperation, commenced in Beijing on May 25 and would continue until May 30, with the theme of "Open Cooperation for a Shared Future."

In a congratulatory letter to the forum, Chinese President Xi Jinping emphasized China's unwavering dedication to a "win-win strategy of opening-up" and Beijing's commitment to stand ready to collaborate with all countries to jointly promote sci-tech innovation in order to address universal issues that impede global development.

Zhongguancun is a major technology hub in Beijing's Haidian District. It is also popularly known as "China's Silicon Valley." The ZGC Forum was launched in 2007 and has become a significant gateway for China's active engagement in global sci-tech innovation practices, as well as its deep involvement in global sci-tech governance. With the breadth and depth of international sci-tech exchange continuing to expand, the ZGC Forum highlights the vitality of China's high-level open innovation.

The Zhongguancun National Innovation Demonstration Park, where the ZGC Forum is being held, has fostered more and more tech companies in recent years, playing a significant role in China's sci-tech innovation. The total revenue of all firms in the park achieved 8.7 trillion Chinese yuan ($1.2 trillion) in 2022, 3.5 times that of 2012. Moreover, last year, there were 4,244 companies in Zhongguancun with an annual revenue exceeding 100 million yuan. Among them, 11 companies surpassed the 100-billion-yuan revenue mark.

In 2022, Beijing ranked first in the country in terms of the number of invention patents per 10,000 people, and over 300 multinational corporations have established regional headquarters and research and development centers in Zhongguancun. Furthermore, the proportion of high-tech industry added value to GDP in Beijing reached 28.4 percent, and the proportion of digital economy increased to 41.6 percent.

This year's six-day event, which features six sections, including conferences, technological transactions, exhibitions and achievement reports, has attracted a long list of eminent scientists and entrepreneurs from over 80 countries and regions. Among them around half of the speakers are from abroad and 17 Nobel laureates addressed the forum.

It is evident that the ZGC Forum plays at least two major roles in promoting sci-tech advancement: not only is the forum a window to showcase China's latest sci-tech innovations, but it will enhance global sci-tech cooperation.

At the opening ceremony on May 25, 10 major cutting-edge sci-tech achievements were unveiled, covering a wide range of areas, including artificial intelligence, quantum science, life science, clean energy, etc. For instance, there are designated robotics and metaverse exhibition areas that display advanced technologies and products such as robot chips and sensors, virtual reality and augmented reality.

Notably, the Quafu quantum computing cloud platform released at the forum can manipulate up to 136 quantum bits simultaneously, making it the largest-scale cloud platform in the country.

With these sci-tech advancements, President Xi stressed that mankind needs international cooperation, openness and sharing "more than ever" in order to address common development problems. Echoing President Xi's message, Bill Gates, the founder of Microsoft, addressed the forum via live-streaming feed, and said that the theme of open cooperation "could not be timelier."

President Xi's letter to the forum is of significance to encourage the worldwide scientific development, especially amid the intensifying U.S.-China technology rivalry. While Washington and its allies are pushing for protectionism and tech decoupling and tightening export restrictions on other countries, China is organizing international forums to pledge for deeper global cooperation.

Since its inception in 2007, the ZGC Forum fostered global sci-tech progress, serving as a witness for China's sustained participation in innovation and its extensive involvement in global sci-tech governance. The participation of internationally renowned scholars and entrepreneurs also demonstrates their recognition of and confidence in China's openness and vast potential market.

China with its mix of expertise, experience and investment in innovation, would be able to make its contributions to the world by sharing technologies and lessons. With its fast-paced development technologies such as quantum computing and 5G technology to potentially revolutionize various industries, China has emerged as a major player in the global technology landscape.

The ZGC Forum's unleashed innovation potential has made it a magnet for global scientists and researchers. While there are certain limitations and difficulties ahead facing all humanity, the forum at least offers a platform for conversations and deliberation about the role of technology in shaping our world. We are confident that in navigating the intricate and rapidly evolving technological terrain, the forum will make prodigious strides towards achieving global advancement.

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