In late 2014, Silicon Valley-based entrepreneurs Sun Jing and Xu Bing welcomed a government delegation from East China's Zhejiang province that was visiting the U.S. tech hub to look for overseas talent. Xu had moved to the U.S. to study before building up his career in the tech industry. Sun had been engaged in investment and mergers and acquisitions for more than 20 years. The pair then worked together to establish a virtual reality startup.
After striking a deal with officials from the city of Jinhua, Sun and Xu, together with a third business partner, Jiang Haiming, returned to China and founded Jinhua Weijian Technology Co. Ltd., which was officially located in the city in early 2015.
