On June 28th, the launch ceremony of the "Enterprise Globalization Accelerator" expert think tank, hosted by the Shanghai Technology Exchange International Trading Center (hereinafter referred to as "Shanghai Technology International"), was held. The first batch of 10 experts were selected for the think tank, including well-known experts from strategic, legal, intellectual property, financial capital and other fields. In the future, we will continue to invite experts to join the database and transform Shanghai Tech International, which is positioned as "my" platform, into a "ours" functional platform, linking more scientific and technological innovation elements and service resources. "The 'Enterprise Globalization Accelerator' is an important puzzle for the Shanghai Technology Exchange to build a global factor market." Xie Jihua, General Manager of Shanghai Yangpu Technology Entrepreneurship Center and Chairman of Shanghai Technology Exchange, said. What is the significance of Shangji International's move? What is the difference between this accelerator that helps enterprises "bring in" and "go out" and traditional accelerators? Where is its importance reflected in building a global factor market? Xie Jihua gave an answer. "Double X" provides a key force for the dual circulation development of Chinese enterprises both inside and outside. "Currently, 70% of Shanghai's cross-border technology trade is internal transactions of multinational enterprises themselves, and it can be almost concluded that cross-border technology trade has not truly formed a market and channel." However, technology trade is a very complex thing, belonging to the category of commodity trade or service trade, and the understanding between various functional departments is different, and the tax system is also different. Therefore, there are many contents of technology trade itself that need to be redefined. In addition, there are often significant differences between international technology trade rules and domestic rules. Xie Jihua believes that if no one establishes corresponding norms and standards to break through the "bottlenecks", the global technology trade market will not be able to operate. In 2020, Xie Jihua promoted the official opening of the Shanghai Technology Exchange, accumulating rich experience in promoting the full integration of technology and various factor resources. Since its opening, the cumulative transaction amount of the Shanghai Technology Exchange has exceeded 20 billion yuan, further integrating land, talent, capital, technology, and data to help transform a massive amount of intellectual property into assets. Now, Xie Jihua wants to apply this experience to build a global market for technological elements. The GlobeXcelerator aims to connect professional insights and multiple resources through two "X's" - "Expertise" and "Expansion" - to help enterprises enhance their global perspective and market capabilities, and provide key forces for the dual circulation development of domestic and foreign enterprises. It is reported that on the one hand, accelerators can provide consulting, funding and other related services for domestic enterprises in setting up factories overseas, cross-border technology cooperation, investment and mergers and acquisitions, and multi-level capital market operations; On the other hand, we provide a series of brokerage and supporting technology and financial services during the process of overseas technology and project landing in Shanghai. At the same time, Shangji International actively expands industrial resources, connects professional institutional networks, provides professional knowledge services, creates and expands cross-border service channels for "going out" and "bringing in", and helps enterprises establish close contacts with experts in technology finance, investment, banking, law, and other fields. The next key to enhancing the level of science and technology innovation lies in internationalization. Xie Jihua is a witness and participant in the rise of China's science and technology innovation industry. Since joining the Shanghai Yangpu Technology Entrepreneurship Center in 2001, almost everything he has done in the past 23 years has revolved around a core issue, which is how to promote technological innovation in China. He believes that a mature technology transfer and transformation ecosystem should include a factor market, a functional platform, and a technology finance platform. Therefore, he built the Shanghai Technology Exchange, the National East Technology Transfer Center, and Kecheng Capital. At present, a new round of technological revolution and industrial transformation is surging. Xie Jihua admits that he has never felt the country's yearning and support for technological innovation so strongly before. He believes that in order to adapt to the changes of the times, it is necessary to continue to improve the level of scientific and technological innovation, and the focus is on internationalization. "The tertiary industry in the United States accounts for over 80% of GDP, with half of it being the technology service industry represented by the software industry. However, the proportion in China is still very low, and there is still a lot of development potential to be tapped," he said. In March of this year, the Shanghai Technology Exchange International Trading Center was established in the Lingang New Area of Shanghai. The center mainly focuses on three service links: "bringing in", "going out", and "cross-border technology transaction settlement". It introduces various service functions of the Shanghai Technology Exchange, integrates domestic and foreign technology resources and technology transfer channels, and works with the Lingang New Area to create a cross-border technology trade innovation ecosystem. At present, Shangji International has established offices in Hong Kong and overseas sub centers in 11 countries including the United States, Canada, the Netherlands, Denmark, and South Korea. It has formed an international channel coordination network with 32 countries, linking more than 600 overseas achievements. In the future, it will be built into a strategic hub for global capital and technological innovation strategies. In Xie Jihua's view, the Shanghai Technology Exchange, as an important platform for the national science and technology innovation strategy and the allocation of technological element resources, is committed to exploring the modernization of factor markets, implementing major national science and technology strategic deployments, and vigorously promoting the transformation of scientific and technological achievements. Promoting the transformation and transfer of scientific and technological achievements not only requires new organizational designs, but also new institutional designs, including capital designs. Xie Jihua revealed that he is exploring two aspects. On May 13th this year, with Shanghai Yangpu Technology Entrepreneurship Center Co., Ltd. (Yangchuang) as the original equity holder, the China Merchants Science and Technology Incubator Closed Infrastructure Securities Investment Fund received feedback from the Shanghai Stock Exchange, with a project valuation of 1.184 billion yuan, which is expected to become the first science and technology incubator REITs (Real Estate Investment Trust Fund) in China. "The REITs channel will play an important role in urban renewal and the revitalization of existing assets, enabling new production factors such as technology, data, and knowledge to further empower underlying assets mainly based on land factors.". Xie Jihua has a "node" in his heart for building a global technology factor market in 2027. This timing coincides with the completion time of the world-class comprehensive transportation hub "Dongfang Hub" under construction, which also means that Shanghai Tech International will resonate with Shanghai's construction of a globally influential science and technology innovation center. As an experienced incubator, Xie Jihua predicts that one of the future directions for Chinese incubators is to shift from enterprise incubation to industrial cluster incubation. Large enterprises are the leaders of the innovation system, and the front-end of large enterprises is a new research and development institution jointly formed by universities and research institutes. The back-end is a concept verification center formed by the integration of small and medium-sized enterprises, and finally forms an industrial cluster formed by the integration of large, medium and small enterprises. He particularly hopes that the "accelerator of enterprise globalization" can empower more small and medium-sized enterprises. Compared to large enterprises with talent gathering, small enterprises need platforms to provide comprehensive services, and both domestic and foreign small and medium-sized enterprises can enjoy this service. (Lai Xin She)