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Another small advantage is that it's a short flight for me to come from Japan. I come to China every year, and I'm coming more often, especially when the environment is pro-innovation and the opportunity for growth is stronger than ever before.

Another strategic priority of InnoSpace is to raise 150 million yuan ( million) to 200 million yuan for its new investment fund by the end of the year. It will be used to support startups with high potential mainly in three targeted sectors: intelligent manufacturing, automobile, New Retail and supply chain.

Apolong can complete driverless operations such as obstacle avoidance, swerving and automatic transshipment. The bus will initially be put to use in last-mile travel scenarios in tourist spots, airports and other enclosed areas.

Another reason was the contradiction between supply and demand, Liu added. Since there were only 25 stocks on the STAR Market, most of which were locked and cannot be traded, a small number of funds can lead to market fluctuation.

Another such joint venture is New York University Shanghai, a Sino-US research institute established by New York University and East China Normal University. The university bid farewell to its first batch of 280 graduates from 27 countries in May. About half of them went to graduate schools, mainly in the US, while the rest have already found jobs, according to the university.