The divergence of China's capital and market with American technology and innovation will be the focus of an entrepreneurial event in Silicon Valley in May.

"We aim to enable fruitful collaborations between US and Chinese companies and to facilitate engagement between investors and entrepreneurs from all over the world," Wang Hanguang, chairman of the 2018 Silicon Valley Entrepreneurs Festival, said on Wednesday at a press conference.

The three-day event will kick off on May 2 in Santa Clara, California.

Wang, who also is chairman of the Hanhai Holding Group, which operates in the US and specializes in investment and incubation, said that this year's festival is more ambition than previous years' and will cover hot topics such as block chain, artificial intelligence, IP litigation and application.

The event is expected to draw more than 2,000 participants from a wide range of businesses around the globe.

This year marks the 40th anniversary of China's opening up and reform, said Wang, adding that next year will be the 40th anniversary of the establishment of diplomatic relations between China and the US.

"We need to make concrete efforts to propel the healthy development of the bilateral relationship." Wang said. "Let's use the festival as a platform through which we can connect the tremendous market and capital in China with leading tech and innovations in the US."

Organizers said confirmed speakers this year include Luo Linquan, Chinese consul general in San Francisco; Bay Area Council CEO Jim Wunderman; Xie Qing, founder of Fortinet and a member of the National Academy of Engineering; Priscilla Chan and Mark Zuckerberg Distinguished Professor at UCSF Atul Butten.

"The world is getting smaller and smaller. This is a wonderful opportunity to share culture, to appreciate and to learn and grow," said Santa Clara Deputy Mayor Kathy Wanatabe.

Lu Rongrong, general manager of Hanhai Investment, said that in the past two years, the festival has brought together 200 researchers, investors and entrepreneurs to give 20 keynote speeches, and participate in 16 panel discussions and four startup competitions involving more than 1,000 projects. More than 100 companies such as AliCloud and GeJu Business School have created opportunities through various events.

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