Hangzhou science and technology enterprise Silicon Valley buy Building Innovation Center

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 Hangzhou science and technology enterprise Silicon Valley buy Building Innovation Center


Netease Technologies News September 13, according to foreign media reports, a Chinese technology company in Hangzhou bought a large office building in northern San Jose, it is reported that the company plans to set up a Silicon Valley innovation center.

Hangzhou Silicon Valley Innovation Center bought the two-storey building this week for $41.5 million in cash, according to Santa Clara County real estate transaction records. The building is located near the corner of East Tasman Drive and Baypoint Park Avenue.

According to a document submitted to the Secretary of State of California in April, the Innovation Center is a subsidiary of the Hangzhou Overseas Center. The document shows that Yao Chenpeng, chief executive of the company, has been listed as chief executive.

The 110,000-square-foot office building is located on the light rail line at 160 E. Tasman Avenue in San Jose, not far from the Levi Stadium.

According to a statement of the enterprise, the innovation center will be jointly constructed by the Hangzhou Science and Technology Commission and the Hangzhou Economic Development Zone Management Committee.

The statement said the main business of the Silicon Valley Innovation Center would include the establishment of an incubator for high-quality talent and projects.

Zhejiang Province announced that the center will also have an intellectual property operation center and a financial center for global research teams.

The companys executives couldnt be reached for comment.

According to the announcement, the Silicon Valley Innovation Center is expected to play a key role in introducing Hangzhou and give Chinese-based companies a greater global presence.

The joint venture may also strengthen the links between San Francisco Bay area science and technology centre and Hangzhou.

The Innovation Center will promote more cooperative projects between Silicon Valley and Hangzhou, the announcement from Zhejiang Province said. A local real estate expert said that whether from a real estate investment or from a technical point of view, these investments are meaningful to Chinese enterprises. Dave Sandlin, senior vice president and chief executive of Colliers International, a commercial real estate brokerage, said: Innovation in Silicon Valley is easier, and investors from Asia can take advantage of the wealth of talent here. In addition, as the value of real estate soars, Chinese companies can achieve value growth by buying office buildings in the San Francisco Bay Area. Source: NetEase science and technology report editor: Joe Chun Jing _NBJ11279

The Innovation Center will promote more cooperative projects between Silicon Valley and Hangzhou, the announcement from Zhejiang Province said.

A local real estate expert said that whether from a real estate investment or from a technical point of view, these investments are meaningful to Chinese enterprises.

Dave Sandlin, senior vice president and chief executive of Colliers International, a commercial real estate brokerage, said: Innovation in Silicon Valley is easier, and investors from Asia can take advantage of the wealth of talent here.

In addition, as the value of real estate soars, Chinese companies can achieve value growth by buying office buildings in the San Francisco Bay Area.