Stated-owned companies participating in the Shining Star Innovation Competition achieved their goal -- of finding investors to back their future operations – when they held a successful roadshow in Rudong county, Nantong, in Jiangsu province on April 15.

The roadshow aimed to help the new energy programs of Stated-owned companies secure funding -- and more than 30 teams from State-owned companies reached tentative agreements with investment firms.

Shen Junfeng, Party secretary of Rudong county, told the event in opening remarks that the roadshow was an affirmation of years of efforts by the country in promoting the new energy sector.

Rudong boasts rich resources in wind power, as well as tidal and geothermal energy. In recent years, the county has stepped up the development of its new energy industry, and it has evolved to become a national demonstrative county in the sector.

Last year, the county's new energy resources generated 5 billion kilowatt-hours of electricity, accounting for over 85 percent of its total electricity consumption. 

According to Shen, the roadshow offered new opportunities for Rudong to learn about the latest achievements in the new energy industry.

He said that the county was committed to upgrading its policy package, to encourage innovation and entrepreneurship in the new energy sector and to improve the business environment in the area.

He expressed hope that more new energy programs would settle in Rudong, stressing that the county was open to academics, researchers and industry leaders in new energy.

The Shining Star Innovation Competition was hosted by the State-owned Assets Supervision and Administration Commission of the State Council and won support from the National Development and Reform Commission – in addition to national education, technology, financial and industry and information technology authorities -- as well as the China Association for Science and Technology.

It was first launched in September last year, focusing on programs with latest technologies in information, advanced manufacturing and new materials.