Led by Professor Li Jiange, Founding Director of the Hong Kong Academy for Industries and Innovation (HKAII), and Senior Counsel NEOH Anthony Francis, HKAII conducted in-depth research in Hangzhou from April 27 to 29. The team engaged in in-depth exchanges with a number of leading local enterprises and hosted the HKAII Hangzhou Entrepreneurs' Spring Dinner. Members of the research team included Professor Shen Dingli, Emeritus Professor of Fudan University and Senior Research Fellow of HKAII; Professor Lyu Benfu, Vice President of the China National Innovation Institute and Senior Research Fellow of HKAII; Professor Chen Xin from the Dishui Lake Advanced Institute of Finance at Shanghai University of Finance and Economics; Gao Yonggang, Chairman of SMIC Capital; Deng Xiaofeng, Chief Investment Officer of Hillhouse Asset Management; and Ge Jun, President of HKAII. The aim of this research was to explore cutting-edge practices in the fields of digital economy and technological innovation, strengthen industry-academia-research collaboration, and gather ideas for industrial innovation and high-quality development.

On the morning of April 27, the research team made its first stop at Hikvision, where Chairman Hu Yangzhong and the management team received them warmly. As a world-leading provider of security and intelligent IoT solutions, Hikvision has achieved remarkable results in exploring the integration of artificial intelligence, big data and the real economy. The two sides had in-depth exchanges on topics such as intelligent hardware R&D, paths for industrial digital transformation, and global market layout.

On the morning of April 28, the research team visited Alibaba and held in-depth discussions with Xu Hong, Group CFO, and the Alibaba Cloud team. As a benchmark enterprise in the digital economy field, Alibaba has accumulated rich experience in e-commerce ecosystem construction, cloud computing technology application, and global business expansion. During the research, the two sides focused on topics such as the development trend of platform economy, investment in scientific and technological R&D and achievement transformation, and corporate social responsibility. They had in-depth exchanges on how digital technology drives industrial chain collaboration and innovative strategies to address industry challenges.

In the evening, the HKAII Hangzhou Entrepreneurs' Spring Dinner was successfully held at the Grand Hyatt Hangzhou. Professor Lyu Benfu, Vice President of the China National Innovation Institute and Senior Research Fellow of HKAII, delivered a speech titled *"Insights into the Development Trends and Challenges of Large Models from the Perspective of DeepSeek"*. Against the backdrop of the rapid development of artificial intelligence, large models, as a core field within it, have attracted widespread attention regarding their development trends and the challenges they face. Leveraging his profound professional knowledge, Professor Lyu provided an in-depth interpretation of this cutting-edge topic, offering unique and thought-provoking insights. Professor Shen Dingli, Emeritus Professor of Fudan University and Senior Research Fellow of HKAII, delivered a speech entitled *"Prospects of China-US Relations from the Perspective of Tariff Disputes"*. As one of the world's most important bilateral relationships, the trajectory of China-US relations has far-reaching implications, and tariff disputes constitute a key issue in this relationship. Starting from this perspective, Professor Shen conducted an in-depth analysis of the prospects of China-US relations, providing entrepreneurs with a distinctive viewpoint and earning warm rounds of applause. After the speeches, Professor Li Jiange, Founding Director of HKAII, and Senior Counsel NEOH Anthony Francis offered summaries and comments on the event.

On the morning of April 29, the research team visited Hundsun Technologies Inc. and had in-depth exchanges with Mr. Liu Shufeng and team members. As a leading domestic fintech enterprise, Hundsun Technologies Inc. has been deeply engaged in the fields of financial software R&D and digital services for the capital market for many years. Its practices in integrating fintech with the real economy and balancing technological iteration with risk prevention and control have attracted much attention. The two sides conducted in-depth discussions on topics such as the development trend of fintech, industrial digital solutions, and enterprise innovation management models, and exchanged in detail the paths and experiences of technology empowering the high-quality development of the financial industry.

During the research, the team also held work exchanges with key leaders of the All-China Federation of Industry and Commerce of Zhejiang Province and enterprise representatives including Zhang Yabo, Chairman of Sanhua Intelligent Controls.

This research activity in Hangzhou not only enabled the research team to gain an in-depth understanding of the cutting-edge practices of local enterprises in the fields of digital economy and technological innovation, but also built a communication bridge between HKAII and the industrial community in Hangzhou. Through the combination of research and discussions, it effectively promoted the exchange of ideas among industry, academia and research circles, and laid a solid foundation for future cooperation in areas such as technological innovation, industrial collaboration and digital economy research. In the future, HKAII will continue to pay attention to the latest developments in the industrial frontier, promote more cross-field exchanges and cooperation, and help deepen the integration of technological innovation and industrial upgrading.