Incubation union for Belt and Road set up in Beijing

BEIJING - An international incubation union was set up in Beijing on Monday to boost technological cooperation between countries along the Belt and Road.

The union will explore new incubation models for startups and seek win-win cooperation between Chinese and foreign companies.

Twenty Chinese institutions including China International Economic Cooperation and Investment Inc and 20 science parks from countries along the Belt and Road set up the union at the Beijing International Technology Transfer Convention which opened on Monday.

Members are from 15 countries. Chinese companies have already invested in a number of cross-border incubation platforms in countries such as Thailand and Malaysia. European companies also plan to build centers for innovation and startups in the Chinese capital.

International cooperation will expand the depth and width of technological innovation, help Chinese companies into the international market and promote the application of advanced technology in China, said Xu Jie with China's Ministry of Science and Technology.

The Beijing technology transfer meeting, co-sponsored by the ministry and Beijing municipal government, promotes technological cooperation in such fields as agriculture, energy and health.