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Award-winners pose for photos during an award ceremony of the 13th "Chunhui Cup" Innovation and Entrepreneurship Competition for Chinese Overseas Students (New York division) in New York, the United States, Oct. 12, 2018. Chinese consulate general in New York hosted a grand ceremony Friday to highlight the entrepreneurship for overseas Chinese students. (Xinhua/Wang Ying)

NEW YORK, Oct. 13 (Xinhua) -- Chinese consulate general in New York hosted a grand ceremony Friday to highlight the entrepreneurship for overseas Chinese students.

The event combined an award ceremony of the 13th "Chunhui Cup" Innovation and Entrepreneurship Competition for Chinese Overseas Students (New York division) and a networking. It aimed to boost entrepreneurship among Chinese students and pave the way for them to establish enterprises when they return to China.

The "Chunhui Cup" competition's New York division was launched in 2014 and this year 74 projects of the 108 applicants in this area stood out, according the Chinese consulate general in New York.

Innovation in China is developing rapidly and has become a major promoter for productivity, while "Chunhui Cup" serves as an important platform for overseas Chinese students to realize the value of life, Zhao Yumin, acting Chinese Consul General in New York, said at the ceremony.

He also hoped the overseas Chinese could make further contribution to the innovative development of China.

The "Chunhui Cup" Innovation and Entrepreneurship Competition for Chinese Overseas Students, initiated in 2006 by China's Ministry of Education and Ministry of Science and Technology, is aimed to encourage talented individuals from around the world to seek out China as a place to start and grow new businesses.

So far, 2,528 projects have been awarded, with hundreds incubated in China.