The APEC Young Entrepreneurs Conference opens on Sept 16 in Hangzhou. [Photo/Tide News]

The APEC Young Entrepreneurs Conference opened in Hangzhou, capital of East China's Zhejiang province, on Sept 16, as part of the APEC China Year 2026. 

The event aims to foster youth exchange and cooperation and contribute to the building of an Asia-Pacific community with a shared future.

Innovation is a key priority for APEC and was also a factor in the choice of Hangzhou as the conference venue. "The city's thriving entrepreneurial ecosystem and innovation achievements are precisely why we chose it as the venue for the conference," said Lu Xiangdong, vice-president of the Chinese People's Association for Friendship with Foreign Countries.

Zhejiang's R&D expenditure exceeds 3.3 percent of its GDP, and the province is home to more than 49,000 high-tech enterprises. The province hosts more than 2,000 AI companies, with the core industry revenues growing by over 20 percent from January to July.

Addressing the conference, Zhang Yan, vice-mayor of Hangzhou, highlighted the city's "rainforest-style" innovation ecosystem as a model for nurturing startups. The city attracts global talent, with over 330,000 professionals and a robust economy, Zhang said, adding that Hangzhou ranks among the top 10 global sci-tech innovation cities, drawing young entrepreneurs worldwide.

The conference facilitated discussions on AI, digital trade, and entrepreneurship, emphasizing cross-border collaboration. Han Junqi from Hangzhou's Global Youth Talent Center noted that the city is committed to building an Asia-Pacific youth innovation and entrepreneurship hub.