Valerie Pecresse, president of the Paris Region, and Zhai Lixin, director of the Zhongguancun administrative committee, at the opening ceremony of the Zhongguancun-Paris Region Innovation Industrialization Center, in Beijing on June 12 [Photo provided to chinadaily.com.cn]

Zhongguancun Science Park (Z-Park, China's Silicon Valley) and the Paris Region (Ile-de-France) announced on June 12 that they will join hands in strengthening technological cooperation between their respective enterprises.

Based on the memorandum of understanding (MOU) between the Zhongguancun administrative committee and Paris Region Entreprises, the newly-launched project will serve as a shared platform for technology transfer, innovative cooperation and start-up incubation.

"High-tech enterprises headquartered in Z-Park can use the innovation center as a gateway to France and Europe," said Zhai Lixin, director of the Zhongguancun administrative committee.

"Also, Zhongguancun will formulate favorable policies, construct high-quality infrastructures and integrate innovative elements to attract more high-end talent and high-tech companies from France," he added.

After the opening ceremony, the two sides jointly organized, as part of the Paris Region Global Innovation Network, a partnering session themed on smart cities, which brought together eight major French groups and eight innovative Zhongguancun-based companies, facial recognition unicorn Megvii Inc included.

Enjoying an exceptional R&D and GDP position in Europe with more than 500,000 firms, 29 Fortune Global 500 headquarters, and some 150,000 researchers, the Paris Region, Ile-de-France in French, ranks among the most competitive regions for innovation and entrepreneurship.

Representatives from both sides pose before the signing of their memorandum of understanding in Beijing's Zhongguancun area, on June 12. [Photo provided to chinadaily.com.cn]

Zhai Lixin, director of the Zhongguancun administrative committee, delivers a speech after the signing ceremony in Beijing's Zhongguancun area, on June 12. [Photo provided to chinadaily.com.cn]