The 2016 Zhongguancun Global Innovation Forum was held in Beijing on Oct 17, focusing on innovative development and innovation globalization. The forum has been listed as one of the themed forums of the national Innovation and Entrepreneurship Week.

During the forum, Herman Simon, a famous German managerialist and the father of the concept of "hidden champions" (a hidden champion is an enterprise that is not much in the public eye but owns high market shares and dominates the market with unique strategies), and Li Yang, a renowned economist, gave speeches on issues such as "ways to success for German and Chinese small and medium-sized enterprises" and "current developing trends in macro economy".

Representatives from venture investment institutes from around the world including the US, Israel, India, South Korea and European countries, government departments, local guidance funds, and strategic investment teams of listed companies as well as entrepreneurs, enterprise founders, professional angel investors attended the event.

The event was sponsored by the Torch Technology Industry Development Center, the Ministry of Science and Technology of China, the Administrative Committee of Zhongguancun Science Park, the government of Haidian District of Beijing and Shengjing Technology Co., Ltd.

Shengjing is now working plans to build a high speed innovation service backbone network in China, intending to attract 10,000 innovation service institutes in various industries, such as investment, securities, human resources, the law, technology transfer and marketing.

Some say that the high speed backbone network will hasten the accumulative effect of innovation service and promote wider innovation activities, which can bridge the gaps between small and medium-sized enterprises, innovation service institutes and local governments.