The 10th Zhongguancun (ZGC) Forum opened in Beijing's Zhongguancun area on Friday under the theme "Global Innovation and High-Quality Development".

Leaders of the tech world, such as Lei Jun of Xiaomi Technology and Sir Peter Bonfield of NXP Semiconductor, delivered keynote speeches.

"Capital is essential for a startup company," said Lei, "We should encourage entrepreneurs to invest their wealth in start-up companies. This is not just an investment of money, but also experiences and resources, as well as valuable guidance." 

Lei co-founded electronics company Xiaomi Technology in Zhongguancun eight years ago.

"Collaboration" was one of the most frequently mentioned words on the first day of the forum. Many speakers agreed that global collaboration is key to protecting and fostering innovation.

"Innovation is encouraged by mixing people from different backgrounds and with different skills, people from different countries, such as the UK, Holland and China, working together," said Bonfield.

"Look at the number of people in Silicon Valley not originally from the US. Look at the number of Nobel Awards to people working in different universities or countries coming together to achieve remarkable breakthroughs."

Bonfield is the chairman of Dutch semiconductor company NXP. The CEO of the company recently met with Chinese Premier Li Keqiang during his October visit to the Netherlands.

Bonfield thinks the current trade tensions are worrying.

"The trade tensions we see today may not only impact international trade, but also global innovation. Protectionism in the name of innovation makes no sense. It is cooperation, on a global scale, that is the source of and will help drive innovation."

Looking forward, speakers noted that future growth points towards technology.

"In the next 20 years, you will find tremendous opportunities for innovation in the automobile sector," said Bill Ruh, senior vice president and CEO of GE Digital.

Bonfield also pointed out that by "marrying" different sectors, such as artificial intelligence and cars, the potential is boundless.

There are also issues the tech world should be cautious about. 

For example, the president of Westlake University, a private research university in Hangzhou in eastern China noted that "cultivation of talents is essential. However, in terms of talents, we should emphasize on quality rather than quantity. The tech world should also be cautious about innovation only in terms of business model, but innovation in terms of science and technology is key to continuous growth."