Mizuho concludes memorandum of understanding for business cooperation with the Research Institute of Tsinghua University in Shenzhen

December 5, 2018

On December 4, 2018, Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara) and the Research Institute of Tsinghua University in Shenzhen (RITS) concluded a memorandum of understanding (MOU) for business cooperation for the purpose of supporting the growth of startup businesses.

RITS was jointly founded by Shenzhen Municipal Government and Tsinghua University in December 1996. It is positioned as a base for the promotion of technological, economic and social development in South China, and also as a cradle for high–tech listed companies in the Pearl River Delta as well as an important base for talent training. With an eye to technological and industrial development trends and enterprise demand, RITS has invested RMB 600 million successively in the establishment of a technological support platform, which consists of the Research Center for Wireless Broadband Communication, Research Center for Electronic & Information Technology, Research Center for Advanced Material and Biotechnology, Research Center for Optomechatronics & Advanced Manufacturing, and Research Center for New Energy and Environmental Technology.

Shenzhen is a hub for supply chains and the manufacturing industry, mainly for electronic components, with a number of investments by venture capital firms, and has seen the emergence of more and more startups.

Based on this MOU and the MOUs with organizations affiliated with the Hong Kong and Chinese governments signed in November, we will collaborate with RITS to support the growth of Japanese and Chinese startups by facilitating investment in these startups, participating in business demonstration events, and mutually connecting Japanese and Chinese startups. In doing so, we will contribute to the economic development of Japan and the Greater Bay Area encompassing Shenzhen, Guangzhou, and Hong Kong.

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